17 Burst results for "Netsuite"

"netsuite" Discussed on Mission Daily

Mission Daily

01:45 min | 9 months ago

"netsuite" Discussed on Mission Daily

"Everyone it's Chad. Ceo Mission Dot Org. Today's episode. We're going to talk about the origins of net sweet..

"netsuite" Discussed on We Study Billionaires - The Investors Podcast

We Study Billionaires - The Investors Podcast

04:02 min | 1 year ago

"netsuite" Discussed on We Study Billionaires - The Investors Podcast

"And so I think it was easier to explain it was easier to explain what we were doing it kinda just makes sense in just show someone how it works. And they're like, oh, yeah. That's probably how applications should be released the next thousand years, so that was sort of helpful to attract some, you know, mazing people into the organization, certainly if you treat your employers ride, and you make sure that they're, you know, the motivated that they, you know, can work the way they want to work, and that they're learning and that they feel a sense of purpose. You know, it's just like a product your company is sort of a product in some sense. And you want them to recommend to a friend or calling just like you want your products we recommend. And so in about stats, certainly a part of grow your company is just the word of mouth again from, you know, higher grade employees tree. Treating them. Like, the the great employees. They are making feel at home and and motivated to succeed. That's I can build up an organization. So you said the one most important things you have learned while building nets redesign how important it is that you can make changes necessary changes even though it might be painful. So how to build an organization where the right people have the right information at the right time and the right authority to make those perhaps painful changes needs to be done. You know, you you you need the visibility. First of all you need to know. What's happening in your business at talk about knowing, you know, house president future knowing what's happened to store. Equate. What's happening right now. And being able to visualize trends, not what happened in the future. So it starts with that see how the visibility into what might happen. And then as you as you see it happening you have to respond. So that's where Jilani comes in and everybody talks about agile, natural, software, development, agile everything. And you know, it can't be. Emphasized enough that that you need to be able to respond to things that are happening that you see out there in the world. There's a real tension. There's definitely attention be between making sure you're staying on mission on vision going towards your sort of true north of the tension between that and responding to things that you're seeing in the marketplace, but you don't wanna get diverted. And so, you know in growing, our company, my think, you know, it's definitely part of leadership to be able to identify those times that you do need to pivot and then identifying those times where it's best not to pivot. It's just leaders. You know, it's interesting. You would say that new Smith Google said, you know, the the best companies they can die from having too many Oba Jones's Seth to fewer, how do you see that? You know, no star. How do you see that process of the true to what you want to achieve and not be diverted into shiny, new items? Like all north takes. It takes some degree of courage because you'll get some amazing opportunities huge. Customers that will come along. And they'll try to get you going where they wanna go and the allure of the big customer in the big deal is one that's hard to resist and sometimes it's the right thing to do a lot of what we had to do in building nets. We'd was figuring out how to sort of mitigate the fact that some of our biggest customers could potentially take us into directions that we didn't wanna go. And I think is trying to figure out a way that you can be flexible man that may involve developing a partner, Shannon partners that can extend what you have in. This could be this is not just in suffering anything harder ships are incredibly important partners and be a critical part of addressing some of these needs. That are going to bring a bunch of resources into your company without getting off your path towards what your true north star. So the solution is different in every case. But obviously, that's the that's the major balance on the aft to have in every company obviously struggles which making making sure they can get funding. They can invest in what they wanna do in the. Term, but you also want to to stay on track. And. Pointing out Simon. I think at the end of the day, the focus is the most important thing. And I would always argue that entrepreneurs should you know, ultimately way of staying on track and avoid.

partner Jilani Google president Simon Shannon Oba Jones Seth thousand years
"netsuite" Discussed on TechStuff

TechStuff

01:41 min | 2 years ago

"netsuite" Discussed on TechStuff

"There was a lot of humor in the presentations which i appreciated including a video about how evan goldberg talking you know speaking with people at oracle and saying hey i've got this great idea we're going to announce all of our our new ideas with a viral video and then the guy at oracles like no please don't do that and you're right we should do it and then he goes out and does this crazy mash up viral video approach which was extremely dorky and i appreciated that because i'm also extremely dorky so it was an interesting experience attending this conference and learning more about net sweet a a company i had heard about multiple times but never really looked into so our next episode will be about oracle we'll talk more about how that company came into being and what it has done over its years more about larry ellison and some of the trials and tribulations that oracle has been through but if you guys have suggestions for future episodes of tech stuff i highly recommend you get in touch with me send me an email the address for the podcast is tech stuff at how stuff works dot com or drop me a line on facebook or twitter handle at both of those is tech stuff h s w don't forget the follow us on instagram and remember on normal weeks i broadcast live on twitch dot tv slash tech stuff you can actually watch me record the podcasts in real time you get a chance to see the bud cast being recorded you get to hear them usually a couple of weeks before they come out and you get to see me make mistakes plus there's a chat room you can jump into and chat with other people who are fans of text up hope to see you guys there and i'll talk to you again really soon.

evan goldberg larry ellison facebook oracle twitter
"netsuite" Discussed on TechStuff

TechStuff

02:02 min | 2 years ago

"netsuite" Discussed on TechStuff

"Oracle in that sweet have been competing a bit in that market which was weird because oracle also had a close relationship in that sweet and according to net suite executives the former company continues to operate as it did before it's just now a department in the larger oracle corporation and can take advantage of oracle's technologies and database and huge amounts of information the acquisition was approved and completed in late two thousand sixteen so net suite now operates as part of oracle and has integrated several of its approaches with oracle products and sweet world eighteen where i am now executives talked about new features being added in the one i thought was the most interesting was artificial intelligence meant to help alert managers to extrordinary cases things that could indicate either someone has committed an error that needs to be addressed or potential strategic moves that could save the company money so for example you can set up a project that involves manufacturing your spinners in hamburg germany and shipping them to berlin but then you see that the net sweet product is telling you that this plan has a low probability of being profitable and getting that information before you actually commit resources could help you save tons of money and make you more nimble in the process to actually figure out a working strategy that will make you money as a swimming that the product works as advertised of course i can't speak to that last bit because i've never used net suite now i can say that they throw a really wild event the presentations had a dj mixing up music tracks live before the events even started there were enormous screens with projections of presentations and live video presenters there were lights and smoke effects and acrobats is all pretty over the top for an event that was designed to market new features to net week customers i i'm not really sure he'll feel about these trade shows guys because it's so weird i mean i'm not the target audience i'm not a net sweet customer so i'm looking at this from a very objective point of view and it is it's a weird spectacle it's it's not necessarily bad it's just weird.

oracle corporation hamburg germany berlin
"netsuite" Discussed on TechStuff

TechStuff

02:02 min | 2 years ago

"netsuite" Discussed on TechStuff

"Auction item and at that point you stop because he wouldn't want to sell for less than what the thing is actually worth now or has been set as a reserve price anyway worth is a difficult concept when it comes to auctions so one thing else i wanted to talk about is that net sweet has acquired a few companies since it launched since its ipo in two thousand seven and two thousand eight they bought a company called open air that specialized in web based expense reports and timesheets in two thousand nine net sweet acquired quick arrow which created professional services automation products and other acquisitions include e company retail anywhere in two thousand thirteen an email service provider broncos off where in two thousand fifteen and there were a lot of others as well but now net sweet itself is an acquisition or has been acquired back in two thousand sixteen oracle announced its intention to purchase net suite for a cool nine point three bill million dollars technically this involved talking with investors and making an agreement to buy back fifty percent of the stocks that were out in circulation so that ellison larry ellison would essentially get more control over it because he and his family had nearly fifty percent of the company not quite maroon fortyseven percent and the the deal meant that the selling price for that other stock that other people were holding was actually higher than what the trading price was this is how they were able to buy out the some of the other investors and so it was a deal that was valued at about nine point three billion dollars now oracle also deals in cloud based solutions for customers and like i've mentioned it's had a pretty tight relationship with net sweet throughout its history some analysts pointed out that the acquisition solved a problem that oracle is running into net sweet head more of a presence with mid sized companies a market the oracle wanted to really get into and.

broncos oracle larry ellison ellison fifty percent three billion dollars fortyseven percent million dollars
"netsuite" Discussed on TechStuff

TechStuff

01:52 min | 2 years ago

"netsuite" Discussed on TechStuff

"Spinner's overseas to your international markets now that obviously is going to increase the cost per spinner that you are incurring and that will eat into your profits or does it make more sense for you to either build or partner with manufacturing facility in the country or countries you want to do business with and if so that requires more management but it might cut down on other costs including shipping costs because if you're closer to your destination you don't have to ship things as far so there are lots of other matters to consider like foreign currencies what's the exchange rate how are you how is that going to affect your business also taxes different countries and even different regions within some countries have different tax laws so you have to know all of these in order to price your fidget spinners properly and make sure you're still making a profit and then there are localization issues to consider so let's say the country you've got your sights on his germany they seem like they'd be really big into fidget spinners that's a fun loving country so to make things go more smoothly it would be good to have your business localized so that german customers can operate easily with your storefront which means having a germanlanguage website and it means having some german speaking people to communicate so that your when people talk to your company you can talk back with them so you want to have some sort of localized support there it may also mean developing tailored customer relationship strategies for german customers because you may find out that people in different parts of the world behave differently that you can't just use the exact same customer relationship approach across the world it might work in one part and not in another now take this imaginary scenario and then expand it to an operation that's trying to go worldwide so how do you make sure you're serving everyone.

Spinner partner germany
"netsuite" Discussed on TechStuff

TechStuff

02:03 min | 2 years ago

"netsuite" Discussed on TechStuff

"Companies grow and becomes more difficult to track all of that stuff and the promise net sweet makes to its customers is that their product will keep things simple even as the company gets more complicated and the software generates reports on demand and gives managers chance to look for outliers that might be the result of a mistake or they might indicate an under or over performing employees and thus allow you to address that further then there's professional services automation or psa that's all about project management and resource allocation there are a lot of businesses out there that operate on the principle of billable hours i used to work in consulting and in those days you were supposed to bill all of your hours to whichever projects you were working on so if you were working on project a for four hours in the day he would write that down and then maybe you spent two hours on budget be so you would write that down you're supposed to keep track of all of that information because all of that would be billed to the client or sometimes it's all internal billing where it doesn't ever go necessarily to an outward client but it's a way for a company to keep track of what implies are doing what projects are working on which projects are taking up the most in assets again there's that word to refer to human beings as assets and it's a way of just tracking what's going on so that was part of what psa covers and finally there's the enterprise resource planning or erp's section i talked about this just briefly earlier these are all the back end operations of business needs to handle like inventory shipping billing and more and obviously that that applies mainly to businesses that are dealing with actual physical products but services based businesses they also have to work with inner enterprise resource planning so as business businesses grow this gets way more complicated you could be dealing with multiple warehouses manufacturing plants retail.

four hours two hours
"netsuite" Discussed on TechStuff

TechStuff

02:02 min | 2 years ago

"netsuite" Discussed on TechStuff

"So those customers might be other businesses or the you know they might be real life human being tight people like me and you or you and me are you and i or or all of us goo goo goo we are the walrus crm is about learning what your customers like and don't like about your products and services it's about improving customer satisfaction and therefore customer retention and ultimately it's about driving more sales to customers now keep in mind we are talking about businesses here so in the end of the day the purpose of a business is to make money doing whatever it is that the business does so while customer satisfaction is very important it's typically done with the view of how can i sell more to this person just so that you don't get too warm fuzzy feelings of customer service but it is important and obviously companies that have great customer service are more likely to retain a customer and to encourage that customer to to purchase more and more than a company that has really crappy customer service i'm sure you've all had good and bad experiences with customer service with various companies and i'm sure in many cases that has led to changes in your behavior whether it meant stepping away from a company because you didn't like the way you were treated or sticking with a company becoming a loyal customer because the way that they did treat you then swedes product has lots of features to track customer behaviors to give analysts the chance to figure out what's going on nearly in real time so ideally this would give a company the chance to address any problems quickly or capitalize on working strategies to maximize their impact though this is more complicated than it sounds because there are so many potential points of contact between a company and its customers so there the obvious points like a company's website so if there are feedback forms on the website that's a clear case where you're getting communications from your customers but there could also be phone lines which means.

"netsuite" Discussed on TechStuff

TechStuff

02:01 min | 2 years ago

"netsuite" Discussed on TechStuff

"Sweets value proposition was that could offer up all the services that a company might need a limiting the necessity of investing in those different products for various functions so again they were saying here's a holistic integrated approach that you can use that will make everything much more streamline that was what they were trying to sell to customers and that you could easily share stuff across departments you could increase the interdepartmental communication within your business so that you wouldn't have someone in one department saying well where the numbers of sales so that we can plan our our strategies like if it's marketing and sales all of this would be integrated so that if you were using the net sweet tools you could call up the reports you needed and make your decisions there you didn't have to worry about waiting on somebody else to send you the information you needed at least that was the again sales pitch as the suite of features grew so did the feet to access them which led some other analysts to echo what seen it had said in two thousand and one and namely that the company was pricing themselves out of their target customer base of those small to mid sized companies by the mid two thousands cloud computing was starting to come into its own in the business world net sweet continued to grow though not as quickly as its rival salesforce dot com the company eventually began to add more services and features they fall into some really big categories so i'm going to talk about those categories now i'm going to give a little more detail about some stuff already mentioned so first let's start with customer relationship management because that was the one evan goldberg had in mind originally when he pitched his idea to larry ellison back in nineteen ninety eight there was the idea that salesforce dot com went with in one thousand nine hundred nine and we frequently initialized this category to see our 'em it's all about how a company interacts with its customers so the name is pretty self explanatory customer relationship management.

evan goldberg marketing and sales larry ellison
"netsuite" Discussed on TechStuff

TechStuff

01:34 min | 2 years ago

"netsuite" Discussed on TechStuff

"In july two thousand and two zach nelson joined the net ledger team as the ceo of the company nelson had also worked with oracle in the past so continuing the oracle association with net sweet but he had worked at other places too including mcafee sun microsystems and motorola interestingly nelson's degrees aren't in business he attended stanford and earned degrees in biological sciences and anthropoid and then became a ceo of a cloud based tech company wow i'm just saying i've got an english lit degree if you wanna make me ceo of a multibillion dollar company i although i doubt i could do nearly as good job is dead in september two thousand three net ledger officially would change its name to net sweet and would become the company that we now know although now of course is the division with an oracle the company had been offering a product called net sweet already those essentially the same sort of offering that was the oracle small business suite and this indicated that they were really going with software as a service beyond just accounting that will they didn't want to have net ledger indicate that they only were interested in accounting that they were doing other things so at this point the company services could also handle marketing department needs in addition to the other ones that are talked about and gradually net sweet was adding an all the standard processes and departments you would find in mid sized businesses now.

ceo nelson oracle motorola stanford zach nelson mcafee
"netsuite" Discussed on TechStuff

TechStuff

02:03 min | 2 years ago

"netsuite" Discussed on TechStuff

"For the small businesses that the company was targetting and that unless a business needed all the features that were offered in the suite it would make more sense to stick with smaller software packages like quick books so essentially what scene that was saying was sure if you need all these features than maybe ninety nine dollars a month makes sense but if all you're looking for is the accounting side than just go out and get accounting software don't bother with going with the sweet approach the review also criticized the speed of the applications saying that desktop based software was generally faster not a big surprise that a webbased offering was slower than a desktop one especially when you start considering things like internet speed and and bandwidth and things of that nature so seen that gave the product seven out of ten so it wasn't exactly a disastrous review but it didn't really do net ledger any favors in those early days but the team kept working on improving features and later review us were a little more positive the handled log going against them at that time the cloud computing business strategy was largely unproven and to make matters worse they launched right at the very beginning of the period we call the dot com crash in which multiple web based startups had launched an invisible away mostly after failing to prove they can operate as a revenue generating business in other words that they could actually make a profit there were so many startups that people were excited about in those early days that had not a come up with an effective business plan the hand big ideas of what they wanted to do but they didn't really have a way of managing it and certainly not growing and scaling the business in a way that was man that was sustainable and so as a result you had a lot of these companies flash on the scene get a huge amount of investment money poured into them burn through that investment money in ridiculous amounts of time.

ninety nine dollars
"netsuite" Discussed on TechStuff

TechStuff

02:02 min | 2 years ago

"netsuite" Discussed on TechStuff

"Did have customer relationship management as its primary focus the thing that goldberg had suggested when he called up ellison and you could argue that netflix was the first real cloud computing company the first real commercial cloud computing company out there was pretty much net sweet but salesforce dot com ended up making the bigger impact it grew faster it got a lot more attention if you look online for stories about the history of cloud computing like i did salesforce dot com pops up way more frequently than net sweet does for the stories oh and ellison also invested money in salesforce dot com to so spreading your bets back to that ledger gradually goldberg and his team began to add in other features in addition to accounting and again they were all meant to help those smaller businesses manage various operations through more centralized approach and it falls into a category of products eventually at least one of the offerings called enterprise resource planning or erp in which a system allows business operators the chance to get kind of a holistic view of what's going on behind the scenes of their companies i'll talk more about erp a bit later and go into greater detail about what that entails but it's really big stuff i mean it stuff that's when you try to wrap your mind around it when you just start to consider how complex it is you realize that a tool that automates this could be really really useful if it's implemented properly now oracle would end up licensing that ledgers product under the name oracle small business suite for a short while but that experiment didn't last terribly long and eventually they kind of dropped that branding in two thousand one scene net ran a review oracle small business suite seven point oh and at that time net ledger wasn't just accounting it was also handling sales tracking customer inquiry processing and more but the review concluded that the then price of ninety nine dollars per month was pretty steep.

goldberg netflix ellison oracle ninety nine dollars
"netsuite" Discussed on TechStuff

TechStuff

02:02 min | 2 years ago

"netsuite" Discussed on TechStuff

"And you might have a different software package to handle something like payroll you might have a different one to track sales an different one for customer relationship management and many of these software packages they might be from different providers which means they're not necessarily compatible with one another there it's not easy to share information across them which means you have to generate reports out of all of them and then compare them and then figure out what your best approaches and do a lot of data analysis of your own and so the promise net ledger was trying to make was saying what we're gonna do as come out with a suite of programs suite of features that all are designed from the beginning to be interoperable so that you can easily share information across different functions of your business and make it easier for you to be able to do what you need to do especially as you get bigger and again they're kind of marketing this too small to mid sized companies saying why should you have to struggle when large companies have been solving these problems for years with very expensive software packages let's set this up so the company announced it was working on features like linking eastward transactions directly with accounting software so in other words there'd be no need to have to tracking systems one for the sales that you're making an e stores and one for accounting where you'd have to port over the results from one to the other the whole approach would be integrated which sounds pretty standard today but again at the time that was pretty revolutionary for these sized companies meanwhile mark benny off who is another former oracle executive gut a similar idea to goldberg right around the same time in fact and about a month after net ledger launched he launched salesforce dot com and salesforce dot com.

mark benny oracle executive goldberg
"netsuite" Discussed on TechStuff

TechStuff

02:03 min | 2 years ago

"netsuite" Discussed on TechStuff

"Self so ellison was really forward thinking here this is nineteen ninety eight when software as the service really hadn't become a thing yet so goldberg followed ellison's advice any launched a company out of san mateo california toward the end of nineteen ninety eight and he called it net ledger and he also took some of ellison's money actually a lot of it alternately more than one hundred hundred million dollars of it so larry ellison was a major stakeholder in this private company after making that large start up investment and a couple of subsequent investments goldberg gathered at team and built an accounting software solution that had a web based interface and it was ready to go in early nineteen ninety nine the starting price for using it when it first launched was four dollars and ninety five cents per month so and you figure that out that's you know around sixty dollars a year sit for sixty dollars a year you could have access to this accounting software win the actual if you wanted to out and buy like an enterprise level accounting software kit in might cost hundreds of dollars so for some companies this would make a whole lot of sense now the early net ledger application started to leverage oracle's database technology that was one of the parts of the deal that was made early on another sign that the two companies were rather tightly coupled at that point the company announced it was working on additional features right out of the gate so even when they were launching this accounting software they said hey this is not the only thing that we're ever going to offer we're going to include other features and they're all going to be integrated together so it's not just that we're going to have a software kit for one aspect of your business or another we're going to have an integrated approach of solutions so they'll work with each other this was looking at another problem that companies were having which was that you would typically get one type of software to handle one part of your businesses operations like accounting.

goldberg san mateo california larry ellison oracle sixty dollars one hundred hundred million do four dollars
"netsuite" Discussed on TechStuff

TechStuff

02:01 min | 2 years ago

"netsuite" Discussed on TechStuff

"Their stories about his days at net suite even as an executive where he was right there in the trenches with other developers working on the code and many people many of the developers said to he codes faster than anyone else here and he served as chief technology officer for net sweet through much of its history so right out of college he got the nod to come and work for the oracle corporation and i'll talk about oracle in a subsequent podcast kind of give you the oracles story because it's also very interesting but in general moral is a computer technology corporation that started back in nineteen seventy seven and it's one of the largest software makers in the industry it's kind of like right behind microsoft one of the founders of oracle larry ellison played a very important role when that sweet becoming its largest investor goldberg worked for oracle for in various capacities for several years until nineteen ninetyfive he decided then to strike out on his own any founded a web development firm called imbed software and that's m b e d no no e at the beginning of that goldberg's operation was relatively small he didn't have a whole lot of people working for maybe like fifteen or so but even so he found it challenging to operate the business successfully and one of the things that frustrated him was that unlike big companies which had access to very complex software kits that allowed them to do things like track customers and at do payroll and all this kind of stuff he found that small business owners didn't really have those options there there weren't a whole lot of assets out there that they could use especially ones that would be affordable to a small business most the solutions out there were meant for big big companies and therefore they cost a lot of money.

executive chief technology officer oracle corporation larry ellison goldberg microsoft
"netsuite" Discussed on TechStuff

TechStuff

02:02 min | 2 years ago

"netsuite" Discussed on TechStuff

"Files out to my super producer tari so that's the reason for that but let's talk all about net sweet what is this company was it do where did it come from well it's a company that makes products for other companies products and services so it's a business to business enterprise most of us would likely have no real experience with net sweet unless we work in some company that is relying on net sweets products otherwise we don't really have contact with it it's one of those companies that works behind the scenes and these business to business companies often when you start digging into it on the surface level they seem really complicated and sometimes it seems like there's nothing there in relation to what we do in our normal lives but then when you really look in you realize wait a minute these are the companies that do work that allow the other companies that i am familiar with the ones that i do interface with directly to do their work so you can think of net sweet as one of the companies that creates those products that allow other companies like retail companies service companies to do what they do and that's why you have the experience you do working with those companies at least on a on a grand level before you get really granular so net sweets story begins with its founder evan goldberg goldberg was adopted at birth he grew up in let's lexington massachusetts as a young boy he became interested in math and by fifth grade he was already into programming and he really took to it so much so that that became his main focus he attended phillips academy and over and later he attended harvard he had scholarships with both he graduated from harvard with a degree in applied mathematics very smart guy and a lot of people describe him as being extremely talented when it comes to applied mathematics and coding in fact.

evan goldberg goldberg massachusetts harvard producer founder lexington phillips academy
"netsuite" Discussed on TechStuff

TechStuff

01:41 min | 2 years ago

"netsuite" Discussed on TechStuff

"Support for tech stuff comes from our friends at rocket mortgage by quicken loans chances are you're confident when it comes to your work your hobbies and your life rocket mortgage gives you that same level of confidence when it comes to buying a home or refinancing your existing home loan with rocket mortgage you can apply simply understand fully so you can mortgage confidently to get started go to rocketmortgage dot com slash tech stuff equal housing lender licensed in all fifty states in mls consumer access dot org number three zero three zero get in touch with technology with tech stuff from how stuff works dot com he welcome to tech stuff i'm jonathan strickland i'm an executive producer at how stuff works in a level things tech and this is another bonus episode that i'm recording in las vegas nevada as i attend sweet world eighteen you can probably hear from my voice that the dry desert air and the long hours on the show floor are starting to take its toll also it's five in the morning here but that's no excuse let's get on with the show so sweet world eighteen is a big conference that's hosted by net suite which in turn is now a division of oracle but net sweet did not start out that way and so i want to give you the story of net sweet also letting you know this bonus episodes a little shorter than my normal episodes largely because well there are limitations to what i can do with hotel wifi and getting these sound.

jonathan strickland executive producer las vegas oracle nevada