NetSuite’s Retail Software Overview
NetSuite Inc. (NYSE: N), a pioneer in the commerce industry, has been providing retail software solutions to businesses in a variety of global industries since 1998. Cloud-based solutions provide the flexibility and adaptability needed to keep pace with the rapidly changing world of modern business.
For several years now, NetSuite has offered SuiteCommerce as an Ecommerce solution for integrating an ERP for product based businesses in retail into their own webstore. Though originally lacking native integration with brick and mortar operations, there was a disconnect present between customer tendencies on-site versus customer tendencies online. Without a unified data model, a business would not truly know the customer and their trends across numerous channels.
NetSuite saw an opportunity, and in just a short few years, began building out a true omni-channel software through a series of well-orchestrated and timely acquisitions.
“A single platform driving online and in-store experiences, we have delivered the Holy Grail of commerce for retailers.” – Zach Nelson, NetSuite CEO
1) 2013 – Retail Anywhere – Price: Undisclosed
Retail Anywhere designed its “cloud” as an Internet-based POS (point-of-sale) software. Running on conventional in-store terminals as well as on mobile devices including iPhone smartphones and tablets, store employees were now able to provide a more relevant and personalized customer experience.
The functionality offered NetSuite an opportunity to fill the void that had been created with SuiteCommerce’s lack of ability to integrate between multiple retail channels.
The acquisition of Retail Anywhere extended the reach of NetSuite’s full platform of business capabilities to the showroom floor, where most retail business still takes place today.
2) 2014 – Venda – Price: $50.5m
While the acquisition of Retail Anywhere carried intellectual property into NetSuite’s product offering, the multi-million-dollar deal for Venda established that NetSuite was looking to grow its presence outside of the United States.
Venda instead brought NetSuite a portfolio of services, support teams and customers that were expected to make it easier for NetSuite to grow within the European marketplace. For example, bringing on a workforce that speaks the language of customers along with knowledge of shipping and payment regulations that are substantially different outside the U.S.
The addition of Venda’s comprehensive ecommerce platform enabled retailers and brands to deliver a unified experience for their customers across online, mobile, and in-store. Combining Venda software attributes with the vast European experience, NetSuite was again working to modernize their global offering in the retail industry.
3) 2015 – Bronto Software – Price: $200m
The Bronto Platform is a tool for an organization to deliver timely and relevant digital marketing that fuels engagement throughout the customer lifecycle. Over 1400 brands worldwide rely on Bronto to help them drive revenue through targeted and data-driven email, mobile and social marketing.
Bronto, a longstanding NetSuite partner and the number one ranked Internet Retailer Top 1000 prior to the acquisition, focuses on monetizing cart recovery, the creation and maintenance of pop-ups, and coupon allocation and distribution.
The combination of the leading commerce marketing system and the number one cloud-based omni-channel commerce platform brings transformational power to businesses. With an integrated Bronto platform that’s housed within NetSuite, businesses now have a single platform to drive repeat purchases and build customer loyalty.
NetSuite understands that with an omni-channel, omni-business model, any retail organization can rely on technology to deliver consistent experiences through a buyers’ journey. Whether that customer journey is through an in-store experience or a webstore, NetSuite has equipped its retail software and its customers for success.
NetSuite and it’s SuiteCommerce offering have given businesses visibility and operational insight into day to day activities. By understanding and analyzing the customer and their tendencies, NetSuite users can move more quickly to seize opportunities. NetSuite continues to invest into and improve its product offering with strategic acquisitions like Retail Anywhere, Venda, and Bronto.
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Written by: Chad Etchison, NetSuite Sales Associate
Plumb is an authorized NetSuite Solution Provider and full-service web design agency that combines back-office commerce solutions with creative front-end design to deliver highly effective ecommerce websites. Plumb’s partnership with NetSuite provides a revolutionary solution for companies in any stage of growth. Plumb is located at 1227 Prospect Street, Suite 200, La Jolla, CA 92037, with additional offices in Newport Beach, Rancho Santa Fe, Ontario, CA and Reno, NV.