Oracle NetSuite Corporate Communications
Combination Delivers Industry's First Cloud-based System Unifying POS and eCommerce in a Single Application
NetSuite Brings Brick-and-Mortar Retail Businesses to Global Commerce Cloud
San Mateo, Calif.—January 10, 2013—NetSuite Inc. (NYSE: N), the industry's leading vendor of cloud-based financials / ERP software suites, today announced that it has acquired Retail Anywhere, a leading provider of multi-channel retail management solutions designed to improve the retail customer experience. The acquisition builds on NetSuite's SuiteCommerce platform, delivering the industry's first and only integrated cloud business suite for retailers, giving them what they need to grow revenues, open up new sales channels and expand their business globally. It fulfils a strong demand among retailers for a single commerce solution that supports the multiple customer touchpoints a retail business needs to succeed—from physical points of sale (POS) at brick-and-mortar stores or other locations to call centres, social media and B2B, B2C, and eCommerce via desktops, laptops, iPhone/iPad, and other smartphones and tablets. The acquisition brings thousands of customers using the Retail Anywhere POS system to NetSuite as well as more than 28 years of deep retail vertical expertise, knowledge in retail operations and best practices in building rock-solid retail management solutions. This unified commerce platform allows retailers to significantly enhance the commerce experiences with capabilities like "shop-online, pickup in store" and "save the sale" to fulfil in-store customer needs from any inventory location, including eCommerce. For more information, please visit www.netsuite.com.hk/retail.
"Up to now traditional retailing has been left behind as the rest of the world has embraced cloud technology," said Andy Lloyd, General Manager, Commerce Products at NetSuite. "With this acquisition, even brick-and-mortar retailers are able to become part of the rapidly evolving global commerce cloud. By adding an in-store solution to SuiteCommerce, NetSuite is enabling merchants to meet their customers' demands for cross-channel shopping integration. NetSuite Retail Anywhere further extends the reach of NetSuite's full platform of business capabilities to the showroom floor, where most retail business still takes place today."
A NetSuite SuiteCloud Developer Network (SDN) partner, Retail Anywhere created the popular Retail Anywhere POS SuiteApp for NetSuite. The solution runs on traditional POS hardware as well as Apple iPhone, iPad and iPod Touch mobile devices to simply and securely conduct transactions from anywhere. The Retail Anywhere team brings its retail industry expertise and proven management acumen to NetSuite's eTail/Retail Products business unit. Retail Anywhere CEO Branden Jenkins, a longtime retail industry veteran with deep expertise in retail operations and retail software development, joins NetSuite as General Manager, eTail/Retail Products.
"In a retail industry where most widely-deployed POS solutions were developed before the web browser existed, there is a tremendous market opportunity for solutions that enable retail operations for the mobile, consumer environment," Jenkins said. "We are excited to join NetSuite, given the company's cloud-based, Commerce as a Service approach to enabling multi-channel retail, the unique business value that the extended NetSuite platform brings to each retailer-customer relationship, and a proven industry track record of success with retail customers and partners."
According to the Deloitte 2012 Annual Holiday Survey, consumers who engage with retailers through multiple customer touchpoints were likely to spend 71 percent more than those who only engage through the traditional brick-and-mortar channel. The report's findings further suggest that this cross-channel consumer base is growing and that businesses can enjoy significant competitive advantages if they develop sophisticated, multi-channel retail capabilities that personalize the customer experience and bring more value to each retail interaction. Unfortunately, legacy retail systems lack the technical capacity to unify multiple channels, and retailers have to use multiple, disparate software systems to run their businesses, creating inefficiency and customer frustration.
NetSuite's Acquisition of Retail Anywhere Adds Key Capabilities to the SuiteCommerce Platform to Allow Retailers to Grow Revenues and Expand Globally
Unique in the industry, NetSuite SuiteCommerce combines a state-of-the-art web storefront with the core NetSuite business suite for a complete, customer-centric cloud commerce solution. SuiteCommerce enables retailers and other merchants to manage key B2C and B2B transactions across multiple touchpoints, including POS, websites, smartphones, tablets and call centres without the limitations and complexity of legacy commerce systems, including the inability of in-store, eCommerce point-solutions and legacy back-end systems to easily integrate and cost-effectively scale. Such systems often limit visibility into customer lifetime value by producing a fragmented view of customers, inventory and financials. As a result, organisations lack visibility into their operations and customers, making it difficult to satisfy customer needs, streamline operations and contain costs. Additionally, SuiteCommerce lets retailers seeking to expand abroad manage growth, with capabilities for multiple languages, sites, companies, currencies and tax compliance.
SuiteCommerce's integrated business processes, delivered via easy-to-use systems, provide insight into customers and inventory across multiple touchpoints and locations, giving modern retailers the ability to not only meet customer expectations, but exceed them.
Now, with the addition of NetSuite Retail Anywhere, retailers have new capabilities to capture and take advantage of transactional and customer data within the NetSuite SuiteCommerce platform and the core NetSuite ERP / financials and CRM solution. Retailers can now leverage the following powerful capabilities to run their end-to-end multi-channel retail business:
Technology Partners Support NetSuite SuiteCommerce and NetSuite Retail Anywhere
NetSuite-Retail Anywhere successes to date have drawn together a full ecosystem of leading industry partner solutions. Partners as diverse as DigitalPersona for biometrics readers, Ingenico for signature capture and payment terminals, JustEnough retail planning, Mercury for integrated payment processing, SenSource customer traffic counters, Valogix for inventory planning and optimization, and many more have built solutions to complement the combined offering.
The Retail Anywhere technology is available today in the U.S., Canada, U.K. and Australia as a component of the NetSuite SuiteCommerce solution.
For more information about NetSuite, please visit www.netsuite.com.hk.
NOTE: NetSuite and the NetSuite logo are service marks of NetSuite Inc. Third-party trademarks mentioned are the property of their respective owners. The use of the word partner does not imply a partnership relationship between NetSuite and any other company.