For the third year in a row, Gartner Inc. has placed Oracle NetSuite in the Leaders quadrant of its Magic Quadrant for Cloud Core Financial Management Systems for Midsize, Large and Global Enterprises.
NetSuite was one of only three vendors to be named a Leader among the seven that qualified for evaluation, including Oracle ERP Cloud, which was also listed as a Leader. The Stamford, Conn.-based firm cited NetSuite’s scalability and global reach, its product capability and its customer satisfaction as strengths.
“Oracle NetSuite is a Leader and continues to maintain its position relative to both its Ability to Execute and Completeness of Vision since last year’s Magic Quadrant with a continuously executed roadmap and broad industry support,” Gartner analysts wrote in the report. “Consider NetSuite when seeking a mature midmarket cloud financial management solution capable of supporting substantial global multinational and multi-subsidiary operations.”
The first ERP system to be built for the cloud from the ground up, NetSuite has been able to reap the advantages of companies moving from on-premises systems. Gartner noted the shift in the report.
“Since the previous version of this Magic Quadrant, Gartner continues to see an increasing amount of end-user inquiries about cloud solutions in this market, with less than 5% of Gartner clients declaring interest in acquiring or maintaining on-premises or hosted solutions,” the report states.
NetSuite’s commitment to customers has served it well. The news comes on the heels of another recent recognition, when NetSuite earned a 2020 Gartner Peer Insights Customer Choice for Service-Centric ERP Solutions nod, which is based on feedback from current NetSuite customers that answered a 35-question survey.
“NetSuite has been a wonderful all in one solution for everything from Accounting, CRM, HR/Payroll to Manufacturing,” wrote one customer. “It’s a very user-friendly system that has reduced our need for redundant data entry or software synching and has helped us move to more automated processes while adding more checks and balances.”
Read the full Gartner Magic Quadrant for Cloud Core Financial Management Suites for Midsize, Large and Global Enterprises report.
Gartner, Magic Quadrant for Cloud Core Financial Management Suites for Midsize, Large and Global Enterprises, Robert Anderson, John Van Decke,r Greg Leiter, 29 June 2020
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