As the founder of NetSuite believes, business optimism is warranted once again
Having the proper tools and platforms is essential for maintaining and expanding your firm as the business world gradually returns to some semblance of routine after the pandemic's devastation.
NetSuite, which will celebrate its 25th anniversary in 2023, is a well-known presence in businesses and organizations all around the globe, demonstrating that consistency may be important for success.
TechRadar Pro talked with NetSuite creator and EVP Evan Goldberg at its recent SuiteConnect London event to see how this longevity is feasible and what the firm wants to accomplish next.
There will always be a variety of difficulties impacting anyone trying to launch or expand a company, even if normalcy is starting to return for many firms.
While issues related to the global economy and supply chain continue, NetSuite published extensive new data at its event that revealed (perhaps predictably) that companies are feeling more optimistic about their prospects as 2023 draws on.
There is greater optimism across the board. According to Goldberg, the epidemic actually resulted in an increase in start-ups and small enterprises, similar to the original dotcom boom that helped launch the careers of many of today's technological giants.
He contends that those small and medium-sized businesses (SMBs) who were able to maintain stability in the face of rapid development have greater visibility and are now approaching the future with renewed hope as well as a push for more useful and effective technologies.
Companies are becoming more complex as a result of the epidemic, and this sophistication increases the demand for tools to assist manage your company. According to Goldberg, NetSuite is aiming to provide a variety of services for companies that may update their IT infrastructure early.
Goldberg's keynote address at SuiteConnect centered on the four main value streams that, in his opinion, should be at the core of any business: gaining new clients and expanding existing clientele; providing products and services; hiring and encouraging staff members and managing a team; and maximizing cash and profitability.
"We've stayed pretty much in our lane, in attempting to help automate and optimise your core operational business processes," adds Goldberg about NetSuite. "That’s where we stay, and anything we focus on will be within those themes."
Every company has had difficulties adapting to the shift to hybrid and remote working, and NetSuite is no different. Even though he wasn't always at the office prior to the epidemic, Goldberg is relieved that things are starting to return to normal.
As Goldberg comments, the majority of businesses don't always recognize how crucial innovation is to their success. One thing it demonstrates is the importance of having your staff follow the same playbook and analyze the same data. Not simply shouting across the room will do.
He continues by saying that the fundamental principles are an extension of how you manage your employees. ERP, which stands for enterprise resource planning, is a phrase he detests. Yet, resources are what matter most, and your most valuable resources are people.
According to Goldberg, users effectively get a fresh swathe of enhancements every six months. NetSuite's pace of releases and new launches is indeed noteworthy.
He points out that although this rapid speed makes it challenging for certain consumers to keep up, it also keeps the business on its toes in terms of ensuring that its platform is helpful and user-friendly.
"We've been able to maintain our pace of innovation during this time, and have just as much, if not more, going on than ever before," he claims. "We’ve worked hard on making NetSuite easy to adopt initially, but then also, once you’ve adopted it - also making it easier for you to understand how your users are using it, and what other areas you may expand into."
During the course of its 25-year existence, NetSuite has surely seen its fair share of difficulties, and Goldberg approaches reverence when reflecting on the advancements his business has accomplished.
Per Goldberg, they overcame the learning curve for adopting cloud. Their clientele was among the most difficult to persuade due to their conservative financial and accounting backgrounds. But now everyone's life is out there; firms aren't worried about them at all.
As NetSuite celebrates its 25th anniversary looking forward, both Goldberg and the business as a whole remain optimistic about the future. "This is a time when a thousand flowers will bloom," as Goldberg beautifully states.