NetSuite acquires digital retail solutions provider Venda

The Shift of Business Systems to the Cloud and Omnichannel Commerce

NetSuite's acquisition of Venda increases the significant investment NetSuite has already made in two major growth engines for the company: a solution that enables companies across industries to re-platform core operational business systems in the cloud and the transformation of those core operational business systems to help organisations transform B2B and B2C commerce to support an omnichannel world.

NetSuite Inc., the industry's leading provider of cloud-based financials / ERP and omnichannel commerce software suites, announced the acquisition #

 

Core business systems move to the cloud:  As the Internet has required all companies to put the cloud at the centre of their business strategy, businesses are now re-platforming systems from last generation client-server software delivered by companies like Sage and Microsoft to next-generation platforms born on the cloud like NetSuite. This trend has helped NetSuite grow its market share by 33 percent across EMEA in 2013, according to research calculations based on the Gartner report, "Market Share: All Software Markets, Worldwide, 2013," published on March 28, 2014. The combination of Venda and NetSuite provides additional investment by NetSuite in Europe to support this transition to the cloud by companies in EMEA.

 

Omnichannel commerce: NetSuite SuiteCommerce, which brings together both point of sale (POS) and ecommerce on a single platform, is the only unified cloud-based omnichannel commerce solution globally that enables B2C and B2B merchants, manufacturers and distributors to seamlessly connect every step of a multi-channel, multi-location business—from ecommerce, POS and order management to merchandising, marketing, inventory, financials and customer support. The combination of NetSuite and Venda brings incremental resources, expertise and solutions to accelerate the capabilities of both B2C and B2B businesses as they re-platform for an omnichannel world.  

 

According to the recent Forrester Research report, "European Online Retail Forecast: 2013 To 2018," published on May 29, 2014, online retail sales in Europe will grow by a compound annual growth rate (CAGR) of 12 percent over the next five years to reach €233.9 billion by 2018 and will continue to outpace offline sales growth. As wallet share gradually shifts toward the Web, online sales are becoming a critical part of the retail economy of many European countries. With this growth in ecommerce, companies need to expand across international borders, open new subsidiaries and serve customers from all over the world. Businesses in Europe can benefit from the combination of both NetSuite SuiteCommerce and Venda's solutions to grow their business.

 

Today, more than 20,000 companies and subsidiaries depend on NetSuite to run complex, mission-critical business processes globally in the cloud. Since its inception in 1998, NetSuite has established itself as the leading provider of enterprise-class cloud ERP suites for divisions of large enterprises and mid-sized organisations seeking to upgrade their antiquated client/server ERP systems. NetSuite excels at streamlining business operations, as demonstrated by arecent Gartner study naming NetSuite as the fastest growing top 10 financial management systems vendor in the world. NetSuite continues its success in delivering the best cloud ERP/financial suites to businesses around the world, enabling them to lower IT costs significantly while increasing productivity, as the global adoption of the cloud accelerates