How Big is The Market for Netsuite?
Netsuite started out as Oracle founder Larry Ellison's SaaS offering for the small and medium scale businesses segment. Starting out in 1998, Netsuite has grown tremendously in the last five years with stock price trading at five times the original value on the bourses.
Interestingly, stock price of premise based systems, like Oracle's, have appreciated very slowly during the same period of time, pointing in the direction in which markets are heading. Netsuite has targeted the small business segment right from its inception which has turned out to be very profitable for the company.
Netsuite ERP For SME Stats
When Netsuite's Larry Ellison took a punt on the small business segment by launching cloud based ERP platform he did not know that the market would explode in the next few years. All over the world and across industries SME's are fast becoming the driving force behind the new resurgence in the economy. Some amazing small business stats proving the SME story are -
- Over 50% of the working population in the U.S works in a small business
- There are 28 million small businesses in the United States along and majority of them have no other source of income
- Almost 500,000 new business get bootstrapped every month
- 7 out of 10 new employer firms survive at least 2 years, half at least 5 years, a third at least 10 years and a quarter stay in business 15 years or more
- Revenues in small business category in the U.S alone is fast approaching a trillion
- 99% of business in EU belongs to the Small Business Category
- More than 45% of India's GDP is contributed by the SME sector
- Small businesses have generated 65% of the net new jobs after 1995
- Almost 50% of small businesses are home based
- Almost a third of the SME's generated over 20% of their income internationally
These stats prove that the Small business segment will drive growth not only in U.S and Europe but Asia and Africa too.
Netsuite ERP provides comprehensive business solutions for small and medium scale businesses. It is the only platform that combines ERP, CRM, Accounting, Financials, and HRM in a single cloud based platform. It provides business intelligence, predictive forecasting, real time information needed for competing on an even keel with big businesses.
Inspirriacloudtech has over 250 highly successful Netsuite Implementations up to date and one of the highest retention rates of 99% in the industry proving its capability to provide highly customized solutions for the industry.