The Howdy Glossary

Oracle NetSuite is a cloud-based financial management solution that integrates accounting, ERP, and CRM operations into one platform. Offering tools for financial reporting, cash flow management, inventory control, order tracking, and billing alongside real-time financial consolidation and business intelligence capabilities, its modular design allows companies to add additional functions as their requirements evolve. Originally founded in 1998 as NetLedger by Evan Goldberg and acquired by Oracle Corporation in 2016, NetSuite now operates as a global business unit of Oracle.

Oracle NetSuite's cloud-based architecture provides flexibility and accessibility for users to manage functions from anywhere with an internet connection. Its customizable configurations allow for the addition of new functionalities as needed, making it scalable for growing businesses. The software includes advanced features such as real-time financial consolidation, robust tools for financial reporting and cash flow management, inventory control, order tracking and billing within a single integrated platform. Competitors like SAP S/4HANA, Microsoft Dynamics 365, Sage Intacct, and QuickBooks Online offer similar solutions but each comes with unique strengths that organizations consider based on specific needs.

Oracle NetSuite stands out due to its fully integrated suite covering accounting, ERP and CRM within one platform. Its modular design supports scalability and customization so businesses can tailor the software according to their growth needs while ensuring efficient operation management. Advanced features such as real-time financial consolidation provide significant competitive advantages along with robust tools for various operational needs backed by Oracle’s global resources post-acquisition which enhances technical support and continual innovation for its users across small to large enterprises needing streamlined processes and better data insights.