Is NetSuite the same as Oracle?
During the late ’90s, the term “cloud-storage” was not even a word people knew about. Past software developers did not realize its potential for future software products.
A few years later, few inventors saw the internet’s capability to deliver software worldwide. One entrepreneur — Larry Elison, a co-founder of the tech-giant Oracle, shares his web-based software idea with Evan Goldberg that will result in a world-famous company.
What Company did Adam Goldberg Create?
The late 1990s to the early 2000s saw significant developments with web-hosting capabilities. On top of that, many companies performing in various industries are shifting from physical management to web-based formats. Adam Goldberg began NetLedger with funding from Larry Elison to provide more solutions.
After assembling a team of veterans and specialists, NetLedger will evolve into a world-famous company for delivering web-hosted applications. Transforming into netsuite, the Company went public in 2007. Pioneering Software-as-a-Service (Saas) products, Goldberg’s Company immediately drew worldwide attention.
In 2016, Oracle officially bought NetSuite and its unique collection of web-based applications. The two companies also began merging their resources to serve businesses ranging from startups to medium-sized companies. While continuing to help various industries, the software development of NetSuite is also evolving.
Today, many modern companies working in various industries mostly use NetSuite and their package of cloud-based apps. Counting 31,000 companies worldwide, Oracle’s NetSuite constantly supports its product users. Offering a unique suite of applications, NetSuite now helps many organizations run their business.
What is the Difference between Oracle and NetSuite?
Oracle
Oracle is a multi-model relational management database system. Its entire database is also famous as Oracle, which is meant for enterprise grid computing and warehousing data. Oracle is popular with many existing businesses since they offer web-based business solutions that are cost-effective and useful for expansion.
The name Oracle represents a database product from the Oracle Corporation. Its unique RDBMS supports various data models while offering different product editions.
- Standard Edition
- Enterprise Edition
- Express Edition
- Personal Edition
Since Oracle offers a variety of product editions, the end-user decides which variant is suitable for their present needs. Oracle’s database products are efficient, secure, flexible, and scalable. Today, Oracle is one of the oldest companies pioneering database management solutions.
NetSuite
As a result of the collaboration between Larry Ellison and Adam Goldberg, many entrepreneurs are now familiar with NetSuite.
NetSuite’s parent company is Oracle after its acquisition in 2016. After buying NetSuite, the two companies combined their capabilities to focus on developing cloud-based software for business management purposes.
Today, many businesses select NetSuite and its collection of cloud-based applications for managing their daily operations. NetSuite offers a suite of applications for understanding existing businesses’ performance, progress, and development.
Famous for their Enterprise Resource Planning applications, NetSuite products are helpful for:
- Managing Core Functions
- Finance and Accounting
- Inventory Management
- Orders and Procurement
- Customer Relationship Management (CRM)
- Professional Services Automation (PSA)
- Services and Marketing Automation
- Human Resources and Personal Records (HR)
- Providing a Central Database
The Difference Between Oracle Fusion Cloud and Oracle NetSuite
Oracle Fusion Cloud
Oracle, specializing in database management solutions, offers a product called Oracle Fusion Cloud. It is a fully developed Enterprise Resource Planning system that can cater to the needs of large-scale businesses. Oracle Fusion Cloud focuses on large enterprises and comprehensive coverage of automation. Comparing Oracle Fusion Cloud to NetSuite, it is less flexible when combining legacy software systems.
- Data Importing and Exporting
- Intelligent Business Reporting
- Business Intelligence
- Online Customer Support
- Business Operation Suite
Oracle NetSuite
Beginning as a small-company offering cloud-based products: NetSuite specializes in helping small to medium-sized businesses achieve their goals. As a result, the cloud-based ERP software suite that NetSuite offers is customizable, upgradeable, and more flexible than the Oracle Fusion Cloud. Oracle NetSuite is modular and perfect for future software additions.
- Financial Management
- Budgeting
- Expenditure Tracking Tools
- Project Time Tracker
- Warehouse and Inventory
- Management
- Supply Chain Management
- eCommerce Suites
- Order Management
- Materials and Procurement
Conclusion
Oracle is a database product from the Oracle Corporation that offers its Oracle Fusion Cloud. The Oracle Fusion Cloud is perfect for big enterprises since it focuses on large-scale automation, data warehousing, and management tools.
NetSuite is a subsidiary of Oracle Corporation. Popular as Oracle NetSuite, it is a cloud-based software package perfect for small to medium-sized businesses. Oracle NetSuite shares more flexibility for adding new software systems and future enhancements to meet the needs of its end-user.
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