October 23, 2017, 4:00 pm
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INTRODUCES SUITEPEOPLE: Partnership makes Oracle+Netsuite world’s fastest growing Cloud company

LAS VEGAS (April 28, 2017) –“ORACLE is in love with Netsuite!”

Thus declared JimMcGeever, Executive Vice President, Oracle+NetSuite Global Business Unit, during his keynote at the opening of NetSuite 2017 in Las Vegas. The two companies merged when Oracle bought NetSuite for $9.3B. 

The theme for 2017 is “Next Starts Now,” a forward looking statement stating exactly what the company is going to do with its Oracle partnership. McGeever said “we’re not in San Jose anymore,” hinting of NetSuite new status as a truly global company. 

The buyout sent conflicting messages through the global cloud community. All the questions were answered clearly in the conference. 

But it was Mark Hurd, Chief Executive Officer of Oracle who delivered the clear message quenching every doubt when he said,“NetSuite is here to stay!”

“More, Better, Forever,” was Hurd’s promise to the NetSuite audience.

 Rather than simply incorporating NetSuite into the Oracle network, Hurd said, it was the company’s plan invest more into NetSuite. This investment confirmed McGeever’s statement of global expansion and technology access but added the dimension of unprecedented financial support. 

“We didn’t spend $9.3 billion to disinvest from the business,” Hurd said.

The audience of NetSuite partners, employers, suppliers from around the world applauded the announcement, quelling fears of what will happen to NetSuite, and clearly expressing what the company intends to do with the partnership

“We spent that money to invest in it, to drive it harder, to drive it faster as part of a grander strategy for Oracle to lead this transformation to the Cloud,” Hurd emphasized.

Those investments are for NetSuite to expand to 13 new countries, grow its Software-as-a-Service (SaaS) portfolio, increase its product line and provide greater support for SuiteSuccess.

Since the beginning of the merger, Hurd had consistently, although at the start a little vaguely, been stating Oracle’s support for NetSuite. His remarks at SuiteWorld were the most unequivocal and specific yet.

And part of this strategy includes the launch of a brand new product called SuitePeople, NetSuite’s new human resources system, which will be available June 1.

At the launch of SuitePeople, NetSuite is now the first and only cloud ERP suite to give businesses a single platform to manage mission critical business processes across ERP, Customer Relationship Management (CRM), Professional Services Automation (PSA), omnichannel commerce and now HR. 

“Since its inception, NetSuite has believed that the best way to run a business is with a unified suite. Today, we are incredibly excited to complete that vision with the launch of SuitePeople,” said McGeever said.

“NetSuite has always delivered applications designed to run a complete business not just a department. And that same philosophy was built into the core of SuitePeople, the most unified flexible core HR offering ever available.” 

Traditionally, businesses have had to manage core HR processes in separate modules, disparate systems, or worse, in spreadsheets. Growing businesses can’t afford the cost, time and risk associated with manual workarounds, complex integrations or siloed data. Unlike legacy HRIS solutions, SuitePeople helps people information actionable throughout the organization from a single suite.

SuitePeople weaves people data throughout the suite, giving businesses complete control over their core HR processes. SuitePeople helps enable employees to request time off, access employee directories and organizational charts, monitor upcoming vacation schedules and new hires or publicly recognize good work. SuitePeople helps empower managers and HR professionals to streamline employee information, new hires, employee onboarding, promotions and compensation changes, all from a single suite.

SuitePeople strengths include the following:

1. Core HR capabilities which organizes and reports native organization design, job and position management, workflows and compliance management, all powered by effective-dated employee master data, providing HR with the systems needed to run a best-in-class operation.

2. HR analytics are pre-built reports and dashboards focused on key people metrics and compliance, including a new “Chief People Officer” dashboard, giving employees the data they need, right at their fingertips.

3.    Employee engagement called “Kudos” helps employers recognize co-workers who have helped drive the business forward, vital in today’s world of distributed workforces.

4.    HR compliance with built in human resources reports, searches and notifications are paired with tailored compliance features to ensure regulatory requirements are easily met and filing deadlines aren’t missed.

5.    Unified access available with NetSuite’s unified data model, people information can be seamlessly analyzed from a single application suite. 

6.    Global reach. With the NetSuite OneWorld supporting 190 currencies, 20 languages, automated tax calculation and reporting in more than 100 countries, and customer transactions in more than 200 countries. SuitePeople allows fast growing businesses to expand abroad and manage a global workforce.

7.    Flexibility from being built on the SuiteCloud platform to help allow customers and partners to configure workflows and forms to meet their unique needs without worrying about upgrades.

8.    Sophisticated role-based security features help allow executives, managers, supervisors and employees to simultaneously view information based on their operational and management role. Supporting both each other and their teams while safeguarding sensitive data.

9.    Unmatched ease of use with NetSuite’s intuitive user interface, SuitePeople can give employees a familiar experience that speeds adoption and training.

“Systems are the backbone of your business, but the heartbeat is your people,” said Joseph Fung, VP of Product Development at NetSuite. 

“With SuitePeople, businesses can achieve a more engaged workforce, improved operational efficiency, and timely strategic decision making. And best of all, because it is part of the unified suite, you can now manage and engage a global workforce better than ever.”
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