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NETSUITE PEGS GROWTH TO SMALL BIZ Featured

 Oracle NetSuite this week spelled out a strategy for realizing significant growth through small business customers. Jason Maynard, SVP of global field operations, noted the NetSuite goal of doubling business every three years

“We are going to double it with small business,” he said during this week’s SuiteWorld conference. However, the lower revenue levels will have an impact on company performance “We are going to grow logos, faster than we grow revenue,” Maynard says. Nevertheless, in terms of the cost of customer acquisition, “We can acquire these customers efficiently,” he says. With parent Oracle marketing its Fusion ERP, it seems likely there is some dividing line for the two product lines that makes it reaching smaller business a more important part of the NetSuite strategy. However, Maynard said the company continues to sell to both mid-market and large businesses.NetSuite is reaching the market both through the channel and direct sales. And as the company spewed out a long list of new products, it is also addressing the segment through different editions of these product. “We have tried to create purpose-built editions based on complexity of these businesses,” he said. Maynard thought the new SuiteBanking product would be of special interest because of its ability to simplify AR and AP automation for SMBs. Overall, NetSuite’s message was the rate of growth under its Oracle ownership. “At today’s size, the company is growing fast than it did when it was acquired and was making more money,” Maynard says.

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