NetSuite Version 11.0

NetSuite Inc. has just released Version 11 of its flagship product. The company hopes to target the mid-market segment through its latest release and has brought together several browser-based applications for accounting, sales, support, services, marketing, warehousing, inventory management, etc. NetSuite is gearing up for competition in the mid-market segment; primarily from Microsoft Dynamics and SAP which offers Business One product as well as vendors like Sage Software and Salesforce.com. NetSuite believes that its hosted suite offering can allow it to gain a fair share of the mid-market which is currently quite fragmented. The company feels that it is better placed to meet customer requirements by providing an OnDemand model equipped with a suite of products as against other companies who may also offer hosted services but do not have a suite of products.

The NetSuite offering is available in versions for 5, 20, and, unlimited users. NetSuite has had a headstart in offering a hosted suite for the mid-market. NetSuite offers a single database with multiple mutually compatible features that can be accessed through a browser. Clean-Mark Service Group, which is based in Toronto, has shifted from Salesforce.com to NetSuite. The latest version of NetSuite makes use of Asynchronous JavaScript and XML (AJAX) for functions such as reporting, graphing, scheduling, and, document management. AJAX helps the software to overcome limitations imposed by the browser and also imparts the feel of regular software rather than a browser. However, as with every hosted solution, NetSuite too may find it difficult to appease customer fears regarding sensitive data being stored offsite. Version 11 also features SuiteScript that allows customers to work with customized platforms under a SaaS environment. SuiteScript uses Java for customization and is considered a useful element in catering to different businesses.

Since NetSuite is browser-based, users do not have to allocate special hours for the purpose of updates, updates happen automatically which is also a saving for users. The only area of concern is the Internet dependence of NetSuite, if the net goes down no work can be accomplished. The NetSuite model allows users to avail their services in one, two and three year periods. This facility works out to the benefit of the channel partners who get to enjoy a recurring revenue stream as well as the users who get to save; a site that has 100 users pays $ 178,040 for the first year of using Version 11; the fee for year two is $ 150,200, and that for year three is $ 150,200. According to NetSuite, this is a clear saving of $ 478,440 over a Microsoft Dynamics client/server solution used for a three-year period.