NetSuite originally began as NetLedger in the late 1990s. Since its founding, the company and its software have undergone a number of changes. Today, NetSuite offers essentially three software services: NetSuite CRM+, NetSuite, and OneWorld.
The NetSuite product includes much of the functionality offered in OneWorld, but is meant for organizations with only a single legal entity. Clearly, the NetSuite product targets the upper end of the small business market. It’s specially suited to small businesses that forecast rapid near and long-term growth.
Among the early adopters of NetSuite were companies in wholesale distribution, e-commerce, software, and software services. Also, companies with hybrid or non-mainstream business models often found NetSuite’s highly configurable software very attractive. Geographically dispersed organizations also found NetSuite to be an excellent solution, as it allowed access to remote users while avoiding costly infrastructure. Vendors, customers, partners, and especially employees could log in from anywhere at any time to do business in the same NetSuite account. NetSuite’s cost-effective and accessible software effectively leverages the Internet, which is now the most dominant feature of our business landscape.
The theme of offering an integrated end-to-end solution to modern business challenges continued with NetSuite OneWorld. With OneWorld, rolled out in late 2007, you could operate not only from any location in the world, but also through multiple legal subsidiaries, in multiple currencies and languages. OneWorld is therefore, in the simplest terms, a business management software solution for small and medium enterprises operating in a global economy that the Internet has changed forever.
We often field questions about the difference between NetSuite’s main software suites, so it probably makes sense to look at them in a little more detail and make sure the differences and similarities are well understood.