Oracle and TechSee Partner together to integrate TechSee's Visual Engagement and Intelligence Capabilities into the Oracle Field Service Platform
NEW YORK, Oct. 17, 2022 /PRNewswire/ -- TechSee, a member of Oracle Partner Network (OPN), today announced a technology collaboration with Oracle to bring the next generation of visual engagement and AI-powered service automation to Oracle Field Service, providing agents and technicians with augmented reality guidance on their mobile devices over a patented, instant video stream.
TechSee's computer vision AI and augmented reality (AR), combined with Oracle Field Service (OFS), automates field services processes like equipment identification, site and job observability, error code statuses and issues, and can provide automated AR-guided resolutions. Field service agents and supervisors can remotely verify successful task completion via live video or AI powered job verification analysis.
The combined solution will allow companies to virtualize many common technician visits, resulting in major impacts in customer satisfaction through instant resolution, cost savings via truck roll reduction, and improved agent productivity and accuracy by providing visual context.
Together, TechSee and Oracle offer a groundbreaking field service solution, supercharging field performance through visual communications, guidance and automation. With this jointly developed integration, OFS customers now have access to one-way, two-way video, screen sharing from any device, and augmented reality guidance without the need to install or get a new program or application.
"Adding intelligent visual guidance capabilities to Oracle Field Service is a game changer for our customers in asset-intensive industries like manufacturing, utilities, and communications" says Jeff Wartgow, VP of Outbound Product Management, Oracle. "We're excited to partner with TechSee to deliver our customers tools they need to service their customers."
As the assets and equipment field service technicians work on becoming more complex, the work between TechSee and Oracle embraces a growing need for service technicians. By enabling remote users to have a "see what I see" approach with TechSee's Visual Engagement platform, problems can be identified and solved more quickly. Plus, with the experience both teams bring to the table, deploying and adopting these capabilities is made simple.
"TechSee is excited to partner with Oracle. Oracle's broad-based approach to CRM, CX and Field Service and Oracle's leadership in field service solutions makes this a natural partnership for leveraging TechSee's remote visual engagement platform. Together we will help the world's largest field service teams drive better customer experience, Improve technician enablement, and dramatically cut operational costs and emissions by reducing truck rolls through virtualized service innovation. By adding TechSee's augmented reality, live remote video, and computer vision AI, Oracle Field Service can offer amazing employee and customer experience from anywhere." - David Troll, GM and CRO at TechSee
TechSee revolutionizes the customer experience domain with the first visual engagement solution powered by Computer Vision AI and Augmented Reality. It enables enterprises around the world to deliver better customer assistance, enhance service quality and reduce costs. TechSee is led by industry veterans with years of experience in mobile technologies, artificial intelligence and big data. The company is headquartered in Tel Aviv with offices in New York, London and Madrid. For more information, visit www.techsee.me
About Oracle PartnerNetwork
Oracle PartnerNetwork (OPN) is Oracle's partner program designed to enable partners to accelerate the transition to cloud and drive superior customer business outcomes. The OPN program allows partners to engage with Oracle through track(s) aligned to how they go to market: Cloud Build for partners that provide products or services built on or integrated with Oracle Cloud; Cloud Sell for partners that resell Oracle Cloud technology; Cloud Service for partners that implement, deploy and manage Oracle Cloud Services; and License & Hardware for partners that build, service or sell Oracle software licenses or hardware products. Customers can expedite their business objectives with OPN partners who have achieved Expertise in a product family or cloud service. To learn more visit: http://www.oracle.com/partnernetwork
Oracle, Java and MySQL are registered trademarks of Oracle Corporation.
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Oracle (NYSE:ORCL) is an American computer technology company that is mainly known for their cloud systems and database management systems in the Systems Software Industry. We can see that year-to-date, ORCL stock is underperforming the broader market and they have lost as much as 27.43% of market value while SPY declined by 23.62%.
After first analyzing the company’s financial performance, I do not believe this is an optimal buying opportunity for ORCL right now with reasons such as mediocre financial growth, valuation providing minimal upsides, and more. Investors, in my opinion, should "Hold" and wait for a better buying opportunity in this stock. Let's begin with an overview of what has occurred so far in the company activity analysis.
Oracle recently released fiscal 2023 Q1 on September 12th, and it has some mixed financial results. In case you missed it, here is a quote from their filings page that I found helpful in recapping the company’s performances thus far:
Total quarterly revenues were up 18% year-over-year in USD and up 23% in constant currency to $11.4 billion. Cloud services and license support revenues were up 14% in USD and up 20% in constant currency to $8.4 billion. Cloud license and on-premise license revenues were up 11% in USD and up 19% in constant currency to $0.9 billion. For the first quarter of fiscal 2023, Cerner contributed $1.4 billion to total revenues.
I then looked into Oracle’s Financials section and compiled the history of 2 important metrics: Normalized Diluted EPS and EBITDA. Oracle is a mature company and they have steadily grown EPS at a moderate 10-year 4.77% CAGR (calculations from May 2013 to May 2022). I also calculated the 10-year CAGR on EBITDA from the same time period to result in a meager 1.39% CAGR. These growth rates are mediocre for a company in a growing industry, and I am unsure if Oracle will keep pace with the industry. For example, if we take a look at the top companies in the Systems Software Industry, we can see Oracle hovering around the 14th to 15th position in growth, performance, etc. To further put this into perspective, Oracle has lagged behind the System Software Industry's growth rates. According to NYU Stern's historical data, the broader Software System & Application Industry has grown at a 23.04% 5-year CAGR with regards to net income which is far below Oracle’s growth rates mentioned above.
In addition to slow growth, there has been significant insider selling activity within the past 4 years. Insiders have bought $3.18 million while they sold nearly $1.48 billion in the time frame mentioned above. This is somewhat troubling and I believe that this could signal poor insider confidence within the company.
But, there are positives to note here. In Oracle's Q1 10Q, I noticed that management has been repurchasing shares in the past months and has a large buyback program of nearly ~$9 billion. Investors would be pleased to note their commitment to shareholder value, which would ultimately provide some support for the stock price. Here is a quote below on more details of these stock buybacks below from the 10Q:
Our Board of Directors has approved a program for us to repurchase shares of our common stock. As of August 31, 2022, approximately $8.9 billion remained available for stock repurchases pursuant to our stock repurchase program. We repurchased 7.5 million shares for $559 million during the three months ended August 31, 2022 (including 0.3 million shares for $26 million that were repurchased but not settled) and 94.0 million shares for $8.0 billion during the three months ended August 31, 2021, under the stock repurchase program.
Currently, Oracle has an annual dividend of $1.28 per share at a 1.79% annual yield. This yield is higher than SPY’s 1.70% but under the industry average of 2.21%. The company’s dividend program means the company falls short of the top 75% of dividend-paying corporations in the United States. Additionally, the company's EPS of $2.66 is more than enough to cover the annual dividend per share, leading to a sustainable payout ratio of 48.12% (derived by dividing annual dividend per share over EPS). Dividend yield rates additionally have seen recovery from the 2015 value and have grown back at a 15% 7-year CAGR since, providing investors with constant dividend growth for the last decade.
Oracle offers stable dividend payouts compared to its lumpy Free Cash Flow metric; thus, I valued the stock using conservative assumptions for the Gordon Growth Model ('GGM'). The GGM valuation approach works by assuming a constant sustainable dividend growth rate and discounting it back into the current stock price with a required rate of return. This is all summed up into this equation: "value of the stock" = "dividend per share" divided by "discount rate - dividend growth rate". It is worth noting that GGM frequently undervalues stock prices in general since dividend growth is conservatively expected to remain constant.
Knowing this, I first based my model on an annualized $1.28 dividend per share calculated by adding the preceding four quarters' $0.32 dividends (price history via Seeking Alpha). Then, I reasonably derived a discount rate of 5.9% from the cost of equity based on a 3-year levered-beta of 0.5. I estimated that dividends will grow in-line with inflation to be conservative, which I estimate from the 10-year treasury yield chart below. Plugging these three key values into the equation above, I found that the model yielded an intrinsic value of $63.68 per share, reflecting a minimal 0.6% upside over the current price of $63.68.
The biggest risks that stand out for Oracle are the rising competitive landscape within the Software Industry and the harsh effects of the Federal Reserve's Monetary policy. We have been observing more and more well-known technology companies significantly investing in sectors where Oracle was dominating in, and, as a result, Oracle was unable to maintain its competitive positioning. It is evident that the other companies above the company all together can cut losses and cause the company to spend more cash. Here is a graph and a quote from an article from Ibisworld summing up the latest activities:
“There are 16,431 Software Publishing businesses in the US as of 2022, an increase of 10.4% from 2021”
In addition, the overall macroeconomic landscape caused by the Federal Reserve’s attempts to taper down the inflation rates still makes it difficult for companies especially like Oracle to operate in. Inflationary rates have been leveling out to roughly 8.3%, but these rates still are the highest it has been in the past 5 years.
The last part of my thesis revolves around Oracle's competitive positioning and its comparison with competitors in the Systems Software Industry. I created a simple table below to compare Oracle’s financial performances (with data from Yahoo Finance) to similar competitors that income investors may seek out as an alternative such as Microsoft (MSFT), Adobe (ADBE), and more.
As a result, this table of P/E, P/S, and EBITDA yielded moderate results to say the least. When compared to industry giants like Adobe and Google (GOOGL) (GOOG), Oracle has a far cheaper P/S and P/E valuation. Not to mention, ironSource Ltd. (IS) (the top-ranked stock in the Systems Software Industry on Seeking Alpha) still has a higher P/S and P/E ratio. But, Oracle’s EBITDA is comparable to its competitors as they provide a higher EBITDA than Adobe, ironSource Ltd, SAP (SAP), and more. Overall though, competition in the industry is fierce and similar companies have the possibility to pressure and cut Oracle’s market share. With all of this, though Oracle is cheaply valued relative to peers in the industry, competitive pressures are still a concern to note.
Cisco Systems Inc
Again, I do not believe that ORCL Stock is an optimal purchase right now. Oracle historically has been growing at below industry average rates—this is reflected in EPS 4.77% 10-year CAGR and EBITDA 1.39% CAGR compared to the Software System & Application Industry 23.04% 5-year CAGR. My conservative Gordon Growth Dividend model resulted in a valuation price of $63.68 which is only a slight 0.6% upside from its current market price. I also think that competitive pressures and inflationary risks all together can be a serious headwind for Oracle. I will reassess my thesis following Oracle’s 2023 fiscal year Q2 earnings announcements or when the macroeconomic environment improves, but for now, with all the reasons discussed above, I recommend a “HOLD” on ORCL stock.
When it comes to managing computer systems, whether in an office environment, on a campus or in an enterprise data center, there’s a long list of tools and technologies SysAdmins need to master. There are numerous certifications can help validate knowledge and skills in those areas.
In addition to server and client configuration and maintenance, many system administrators must understand access controls, network services and resource requirements for applications. They often find themselves working with directory and name services as well as network addressing, database services, web and desktop applications, email, and more.
Making sense of all these different system administrator roles and accompanying certifications is no easy task. After examining various credentials, we came up with a list of our five favorite system administrator certifications for 2019.
The following chart shows the results of an informal job search we conducted that gives you an idea of the relative frequency with which our top five certifications appear in actual job postings. While all the certifications are popular, the CompTIA Server+ stands out as the clear favorite.
|MCSE: Cloud Platform and Infrastructure (Microsoft)||112||247||253||151||773|
|Oracle Linux System Administrator (Oracle)||311||377||124||304||1,116|
|RHCE (Red Hat)||507||625||864||286||2,282|
*When searching for VCP – Data Center credentials, we found most job descriptions didn’t indicate a specific version.
Although employers tend to pay SysAdmins less than some of their IT peers, such as network engineers and data architects, a career in system administration is still worth pursuing. SimplyHired reports $77,296 as the national average salary for SysAdmins, in a range from $49,746 to $120,102. Indeed.com pegs averages at $75,967 for plain-vanilla, and $88,032 for senior systems administrators.
The Microsoft Certified Solutions Expert (MCSE) certification has long ruled the hearts and minds of those who work on Microsoft-based systems, servers and clouds. MCSE certifications focus on the latest technologies for business applications, cloud infrastructures, data management and analytics, mobility, and productivity.
But when it comes to system administration certifications in general, the brightest lights are those that address Windows Server at the enterprise and server administrator levels. While these credentials don’t all specifically use “system administrator” in their descriptions, they all fall well inside the roles and responsibilities of system administration jobs. They’re also in high demand in job postings and classified job advertisements.
The MCSE: Cloud Platform and Infrastructure targets IT professionals seeking to promote careers such as information security analysts or computer support specialists. Those obtaining the certification will find that the MCSE: Cloud Platform and Infrastructure credential is designed to validate the skills necessary to effectively run a data center, including networking, storage, systems management, virtualization and identity management.
Note: The Microsoft Certified Solutions Associate (MCSA) is Microsoft’s prevailing mid-range IT certification. It covers most administrative job roles, including system administration at both the desktop and server levels, as well as more specialized job roles that include SQL Server and Office 365. MCSA: Cloud Platform is a gateway certification that feeds into these MCSE certifications.
System administration candidates might also want to take a close look at the MCSE: Productivity credential, which garners nearly as many hits on job boards as the MCSE: Cloud Platform and Infrastructure cert. The MCSE: Productivity focuses on Microsoft Exchange, SharePoint or Skype For Business. Because communications systems and services of all kinds are so important to business, these are good areas for aspiring and practicing system administrators to specialize in.
The Microsoft Certification Program underwent extensive changes in September 2016. Once you earn one of the latest MCSE credentials, you do not have to recertify within three years as used to be the case. However, by passing an elective test each calendar year, you add an entry to your transcript that indicates your commitment to staying current on technologies and expanding your skillset.
|Certification Name||Microsoft Certified Solutions Expert (MCSE): Cloud Platform and Infrastructure|
|Prerequisites & Required Courses||Any one of the following MCSAs is required:
MCSA: Windows Server 2016
MCSA: Cloud Platform
MCSA: Linux on Azure
MCSA: Windows Server 2012
|Number of Exams||One additional elective test is required to earn this MCSE. Valid electives include:
70-532 Developing Microsoft Azure Solutions
70-533 Implementing Microsoft Azure Infrastructure Solutions (exam retires December 31, 2018)
70-473 Designing and Implementing Cloud Data Platform Solutions
70-475 Designing and Implementing Big Data Analytics Solutions
70-744 Securing Windows Server 2016
70-745 Implementing a Software-Defined Datacenter
70-413 Designing and Implementing a Server Infrastructure
70-414 Implementing an Advanced Server Infrastructure
70-537 Configuring and Operating a Hybrid Cloud with Microsoft Azure Stack (coming soon)
Candidates are encouraged to check the certification web page for the most current list of qualifying exams.
|Cost per Exam||$165 per test in the USA|
|Self-Study Materials||Visit the certification web page and Microsoft Learning for practice tests, free online training, Microsoft Official Curriculum in-classroom and on-demand course offerings, books, online resources and more. Candidates will find links to training resources including practice exams, books, video, and formal training on the test web page.|
Although known for its database products and solutions, Oracle also has its own distribution of Linux, geared for the enterprise and designed to support cloud environments. In fact, Oracle Linux is optimized for various Oracle products and platforms, such as Oracle Exadata Database Machine, Oracle Exalytics In-Memory Machine, Oracle Exalogic Elastic Cloud and Oracle Database Appliance.
To support Oracle Linux, the company offers the Oracle Linux System Administrator certification at Associate and Professional levels. A single Oracle Linux Certified Implementation Specialist credential is also offered. We focus on the Oracle Certified Professional (OCP) version in this section.
The OCP Oracle Linux System Administrator certification, currently at version 6 (although version 7 should be coming soon), covers a lot of details. Candidates must be well-versed on the Btrfs file system, control groups, Linux containers, advanced storage administration techniques, Oracle cluster management and package management. The certification also tests for knowledge of dump analysis, dynamic tracing, network and security configuration and more.
The OCP Oracle Linux System Administrator certification requires that candidates first obtain the Oracle Certified Associate (OCA) Oracle Linux 5 and 6 System Administrator certification and pass one exam.
SysAdmins who support Oracle Solaris might be interested in the Oracle Solaris System Administrator certification, which Oracle offers at the Associate and Professional levels. Oracle also offers several server-related certifications for SPARC and Fujitsu servers.
In the realm of Linux system administrator certifications, Red Hat certs really stand out. Red Hat’s more senior-level certifications are especially popular among IT professionals as well as the employers who hire them. Those holding the Red Hat Certified Engineer (RHCE) credential qualify for job roles such as senior Linux administrator, senior UNIX administrator, senior systems engineer, infrastructure systems engineer, IT analyst and the like.
The RHCE is regarded as a high-level credential that’s not easy to obtain. Candidates must first obtain the Red Hat Certified System Administrator (RHCSA) credential and then pass a three and a half hour, hands-on, performance-based test that’s intense and demanding. Those who earn the RHCE can go on to earn the Red Hat Certified Architect (RHCA) in Infrastructure credential.
The current RHCE test is based on Red Hat Enterprise Linux (RHEL) 7. RHCE certification is valid for three years from the date the certification was achieved. To maintain the certification, a credential holder must pass any RHCA test or pass the RHCE certification test again before the end of the three-year period.
Note: In October 2018, IBM announced that it was acquiring Red Hat for the princely sum of $34 billion. It’s too early to tell what impact this may have on Red Hat certification offerings, if any.
|Certification Name||Red Hat Certified Engineer (RHCE)|
|Prerequisites & Required Courses||Red Hat Certified System Administrator (RHCSA) certification (does not have be on the same Red Hat Enterprise Linux version). RHCSA requires one exam: EX200 — Red Hat Certified System Administrator (RHCSA).
Note: Courses recommended but not required
|Number of Exams||One exams:
EX300 – Red Hat Certified Engineer (RHCE) exam, 3.5 hours
|Cost per Exam||$400 (RHCE test fee only)|
|Self-Study Materials||Red Hat Training offers multiple training options, including classroom, virtual, online, video and private onsite. The Red Hat Learning Subscription offers online and video courses, including cloud-based labs, in Basic and Standard subscriptions. Prices vary by geography. Candidates in the U.S. can expect to pay $5,500 (or 19 training units) for the Basic tier and $7,000 (or 24 training units) for the Standard tier.|
CompTIA offers a long list of entry-level certifications, such as the A+ for hardware technicians, Network+ for network admins and Security+ for security specialists, all of which are highly regarded in the computing industry. The CompTIA Server+ certification is no exception. Companies such as Intel, HP, Dell, Lenovo, Xerox and Microsoft, as well as the U.S. Department of Defense, recommend or require that their server technicians earn CompTIA Server+.
The Server+ certification test focuses on foundational server-related Topics that are vendor-neutral in nature, including server hardware, operating systems, storage systems, networking, the IT environment (documentation, diagrams and best practices), security and disaster recovery, virtualization and troubleshooting.
The Server+ credential, along with sufficient experience, is a great asset for individuals seeking a position as a server or network administrator, systems engineer or website administrator. You can also consider it as a stepping stone to a more focused certification, such as the Microsoft Certified Solutions Associate (MCSA) or the Red Hat Certified System Administrator (RHCSA).
Server+ certification requires one exam, SK0-004. CompTIA recommends that candidates have at least 18 months of experience and A+ certification before sitting for the exam.
|Certification Name||CompTIA Server+|
|Prerequisites & Required Courses||Required: None
Recommended: CompTIA A+ certification plus 18 to 24 months of IT experience
|Number of Exams||One exam: SK0-004 (90 minutes, 100 multiple-choice questions, 750 on a scale of 100-900 required to pass)|
|Cost per Exam||$319. Purchase vouchers through CompTIA Marketplace. test administered by Pearson VUE.|
|Self-study Materials||Links to practice questions, test objectives, eBooks, and other training resources are available on the certification web page. test study bundles including eBooks and CertMaster practice are available from the CompTIA Marketplace.|
The VMware family of certifications are must-have credentials for IT professionals interested in the field of virtualization. Offering a comprehensive certification program that encompasses all skills levels, VMware credentials are recognized globally as best in class.
The latest incarnation of the VMware vSphere product is Version 6.5. VMware currently offers two credentials which target vSphere V6.5 users: the VMware Certified Professional 6.5 – Data Center Virtualization and the VMware Certified Advanced Professional 6.5 – Data Center Virtualization (Design and Deploy). It’s anticipated that the VMware Certified Design Expert (VCDX-DCV) will be available soon.
Although Version 6.5 is the newest version of the vSphere product, interested candidates can still certify on vSphere V. 6. The VMware Certified Professional 6 – Data Center Virtualization (VCP6-DCV) is one of VMware’s most popular credentials with more than 100,000 certified credential holders. The VCP6-DCV prepares credential holders for more advanced certifications, including the VMware Certified Advanced Professional (VCAP6-DCV) and the pinnacle cert, VMware Certified Design Expert (VCDX-DCV). For this article, we chose to concentrate on the requirements for the VCP6.5 – DCV since it’s based on the newest version of vSphere.
Training is required for non-credential holders seeking to obtain the VCP6-DCV. VMware offers a variety of training options to meet the training prerequisite: self-paced (on demand), live online and live classroom, some of which include virtual labs. Those possessing a valid VCP5-DCV or VCP6-DCV credential need only pass a delta exam to obtain the credential.
|Certification Name||VMware Certified Professional 6.5 – Data Center Virtualization (VCP6.5-DCV)|
|Prerequisites & Required Courses||Path 1 (non-VCP credential holders): Gain vSphere 6.5 experience, attend a required training course, pass either the vSphere 6 or 6.5 Foundations exam, and pass the current VCP6.5–DCV exam
Path 2 (active VCP5-DCV or VCP6-DCV credential holders): Gain vSphere 6.5 experience, pass the VCP6.5–DCV or VCP6.5–DCV Delta exam. Training is recommended but not required.
Path 3 (expired VCP-DCV): Gain vSphere 6.5 experience, attend a required training course, pass either the vSphere 6 or 6.5 Foundations exam, and pass the current VCP6.5–DCV exam
Path 4 (active VCP 6, 6.5 or 7 in a different track): Gain vSphere 6.5 experience and pass the VCP6.5–DCV exam. Training is recommended but not required.
See the VCP6.5-DCV web page for list of current approved training courses.
|Number of Exams||One or two exams depending on certification path.
vSphere 6 Foundations Exam, 2V0-620, 115 minutes, 65 questions
vSphere 6.5 Foundations Exam, 2V0-602, 105 minutes, 70 questions
VMware Certified Professional 6.5 – Data Center Virtualization exams:
VMware Certified Professional 6.5 – Data Center Virtualization, 2V0-622, 105 minutes, 70 questions
VMware Certified Professional 6.5 – Data Center Virtualization Delta, 2V0-622D, 106 minutes, 70 questions
|Cost per Exam||vSphere Foundations test (V6 or V6.5), $125
VMware Certified Professional 6.5 – Data Center Virtualization exam, $250
VMware Certified Professional 6.5 – Data Center Virtualization Delta exam, $250
|Self-Study Materials||A link to an test guide, training and a practice test (if available) appear on each test page (see the How to Prepare tab). VMware Learning Zone offers test prep subscriptions. Numerous VCP6-DCV study materials are available through Amazon.com. MeasureUp offers a VCP6-DCV practice tests and a practice labs.|
Beyond the five system administrator certifications featured in this article, there are many other certification programs that can help to further the careers and professional development of IT professionals who work in system administration.
It makes sense to investigate the plethora of vendor-specific programs available for those who work with systems from companies such as Brocade, Dell EMC, HPE, IBM, NetApp, Symantec and so forth. Many of them play into key system specialty areas, such as storage, security or virtualization, while others offer a broad range of platforms for these and other technology areas. Here are some examples:
Likewise, vendor-neutral certification programs also offer a variety of interesting and potentially valuable credentials. For example, the LPI LPIC certifications, which had been in our top five list for several years, are well known and widely recognized in IT shops and operations that depend on Linux servers to handle their workloads. It’s best to think of our top five certifications as a good place to start, while also realizing that there are many other options to consider as well.
Oracle NetSuite held its annual confab in Vegas recently. It was very well attended by both customers and partners. In fact, the place was abuzz with activity, side meetings, etc. Everybody wanted to talk.
Of course, diginomica had several folks covering the event on the ground and some doing so virtually. As conferences go, the coverage was quite comprehensive and clearly indicated that travel to user conferences is moving back to pre-pandemic levels.
I’ll provide a brief recap of the relevant coverage below before I dive into the more subtle, underreported observations: you know the things you can’t get virtually but can pick up on in the hallways, expo floor, meals and numerous hallway interactions.
I kicked off the coverage with a pre-show piece in August. I thought I did a nice piece covering several new capabilities attendees would see at this month’s show. It’s actually a good, quick read on several items Oracle focused on. In particular, there was a discussion on the analytics warehouse functionality:
NetSuite customers will be able to probe externally sourced or internally generated datasets for all kinds of insights, many of which will be displayed via graphical means. This is important as mid-sized firms I’ve visited often possess mountains of ‘dark’ data: the data that they or their machines generate but no person or system looks at this information. The insights within this data are ignored as mid-sized firms often lack the tools, skills, computing power, integrations, visualization tools or ML tools to make sense of this.
Madeline picked up on the analytics warehouse and described how one customer, Studio McGee was using it:
Studio McGee is using NetSuite Analytics Warehouse (NSAW) to support its move into a new 325,000 square feet fulfillment center, which includes robots for picking and packaging that are integrated with NetSuite. The firm is combining its NetSuite and Shopify data in NSAW, and will be able to add information from Google Analytics and other systems.
Derek covered the main product announcements in this piece. Oracle NetSuite had big announcements in the areas of Accounts Payable (AP) automation, Configure Price Quote (CPQ), Ship Central and Workforce Management. There’s actually a fair bit to unpack in those announcements.
Madeline filed an Oracle NetSuite customer story re: a UK startup firm and a study NetSuite has on this subject. Madeline also penned a piece on NetSuite customer Thread. That story focused on Thread’s use of NetSuite to support expansion of its brick-and-mortar business. About Thread, she writes:
Going from a $30,000 Kickstarter startup to a $15m+ revenue organization, the firm realized it needed a more advanced platform to run its business and turned to Oracle NetSuite for its ERP and analytics. This was crucial for advancing plans to expand Thread’s wholesale business and brick and mortar stores, while still continuing to grow its direct-to-consumer business, which has been the largest revenue earner.
I spoke with a number of customers, software partners and implementers at this event. It’s what I do. I was surprised at the complexity of the businesses these NetSuite customers have. In fact, many of the customers possessed several of these factors:
If you thought NetSuite was an SMB only solution – it’s not!
The product line is deeper, wider and uses many advanced technologies (e.g., machine learning) it can get from parent company Oracle. Sure, NetSuite used to be this small, scrappy financial cloud solution called NetLedger that principally served small, straightforward businesses but that’s not necessarily the entirety of their customer base anymore.
No, NetSuite may be considerably more upmarket, more functionally capable as a mid-market product. I can’t decide if Oracle should market it more for the mid-market specifically (a space its JD Edwards and Fusion products serve) or as some sort of cloud product line that exists to help companies scale easily from startup to mid-size. This solution, in my opinion, is not a competitor to QuickBooks. It’s much, much more.
For example, global regulatory compliance functionality continues to grow in the NetSuite product line. NetSuite is also expanding the number of global cloud data centers that host the NetSuite application solutions.
So, I suspect most customers, partners, etc. at the event see or feel a lot of this phenomenon, too. They know the product line is more global, more capable and more functionally advanced than ever before. And, if they’re paying attention, they’ll wonder what’s going to happen next? Will NetSuite:
To sum up this section, without anyone addressing the growing upmarket capabilities on display at the show, it was clear that the NetSuite product line is more capable than ever and must be considered in more up-market deals.
AKA Hire more people or get new technology
While all kinds and sizes of businesses these days seem to be struggling with the ability to attract and retain talent, small and mid-sized firms often face even more difficult challenges in the war for talent. These firms may not have the recruiting talent or resources to develop relationships with prospective jobseekers let alone get them hired or onboarded successfully.
This is important as small and mid-sized firms may never be able to offer the career paths and compensation that larger competitors can. So, the best approach for some of these smaller in stature firms may be to automate as much work as possible so as to minimize their dependency on an expensive, hard to source, develop and retain workforce.
Efficiency and low friction themes seemed to permeate the event and NetSuite executive messaging. NetSuite Founder Evan Goldberg flat out stated that NetSuite wants customers “to be as cost-effective as possible”.
NetSuite executives seemed to believe this to be a winning strategy for SMBs. This is why they are focusing much of their development energy on the use of advanced technologies in their applications. These technologies could include: artificial intelligence, chatbots, smart analytics, RPA, big data and more. They hope that these technologies could help in areas like process automation so that a process could become almost fully automated. This could significantly help reduce personnel needs in some process areas.
One example of this focus on highly efficient processes is the new Accounts Payable Automation functionality. These enhancements are part of Oracle/NetSuite’s broader strategy of “Optimizing Cash & Profits” for customers. It uses a number of technologies (e.g., process automation, exception handling, etc.) to make Accounts Payable processes extremely automated and efficient. NetSuite can support automated 2 or 3-way matching of vendor invoices. NetSuite partnered with financial services firm HSBC for some payment service options should a customer want to avail themselves of this.
One NetSuite customer using this new AP Automation capability reported going from having 45% of invoices being automatically processed to having 95% of invoice processing automated.
AKA Staff Scheduling
The scheduling optimization capability within the new Workforce Management tool should be a very welcome bit of functionality for retailers and health care organizations as it helps firms do a better job of scheduling workers. Why is this important? If you ask HR leaders in those industries what contributes to numerous Great Resignation and Quiet Quitting problems is that workers who genuinely want to work are being assigned hours that cause them personal strife or are insufficient in quantity for them to make a livable wage. And, operations leaders often struggle to put together a schedule using paper, spreadsheets and other less-than-optimal methods.
Nurses, for example, value the ability to influence their schedule more than most any other retention factor. In retail, employees want to maximize their hours. Both groups want to work close to home and each may have young children or older parents to care for. The best scheduling tools remember what hours or days a person can work and which ones are off limits. The best tools also have mechanisms to help employers manage total payroll costs, minimize overtime, etc. A great scheduling tool is like a multi-variate optimization tool and an automated tool may be the best solution for such a complex and dynamic management problem. Why? The automated tool could handle hundreds of different variables simultaneously and solve the schedule problem in seconds compared to a sub-optimal solution that a manager might struggle with for days.
The scheduling optimization tech has its origins in a company called Adi Insights and will now be called SuitePeople Workforce Management. That deal was described as:
On May 6, 2022, Oracle announced that it has entered into an agreement to acquire Adi Insights. Adi Insights is a leading provider of workforce management solutions. The acquisition will bring overtime management, time capture, demand forecasting and shift scheduling capabilities to SuitePeople, NetSuite’s human resource management solution. The transaction is now closed and the Adi Insights team will join the Oracle NetSuite organization.
NetSuite has a number of partners. Some provide complementary applications while others offer integration technology, BPO (business process outsourcing), implementation services and other capabilities.
Given how critical partners are to completing the Whole Product (a Geoffrey Moore term) functionally, implementing the solutions, introducing the customer to NetSuite, etc., NetSuite would, obviously, want to stay on the good side of its partners. Great partners drive outsized net-new revenue, reduce customer acquisition costs, help in selling many add-on products, and more.
Several analysts at the show wondered how NetSuite’s new advanced Accounts Payable automation technology would be sold and would that cause channel conflicts with some of their partner firms who have been selling competing solutions to NetSuite customers for years.
More specifically, how will this product be sold since several other firms offer software that also provides AP automation? One NetSuite executive indicated that this is a huge market (after all NetSuite has approximately 32,000 existing customers) and NetSuite will only focus on selling it to customers/prospects that currently lack an AP automation solution. NetSuite will not be targeting the customer base of any of its automated AP solutions partners. And, a NetSuite executive also stated that they will respect whatever decision a customer makes re: AP automation whether they choose NetSuite’s or a partner’s product. Bottom line: NetSuite doesn’t want to antagonize any of them.
Mid-market software buyers often possess many of the same business complexities of their larger competitors but don’t have the people, capital or other resources to match. My shorthand for this is that mid-market tech buyers have champagne tastes and beer budgets.
To make a mid-market buyer’s implementation a success, a great software solution must:
One approach NetSuite previously rolled out to help with this was SuiteSuccess. SuiteSuccess was announced a couple of years ago. Its purpose is to help new customers get implemented in a timely but successful manner. The program is about more than just implementation speed though as customers can access configurators that include pre-supplied best practices.
I pressed a couple of NetSuite executives on the ‘success’ of this program. Evan Goldberg discussed how NetSuite doesn’t do product demonstrations vanilla anymore as they want to show the prospect how the software will look and behave with the most useful/relevant configurations (that are in the SuiteSuccess kits) already in place. That way, prospects can see exactly how the software will behave in their industry/company/function.
I’m very cautious re: programs like SuiteSuccess. The story is one many of you want to believe but many vendors conflate success with rapid implementation. These terms are not synonymous. In the rush to get a product implemented quickly, the vendor or systems integrator may simply map old data into the new system without taking the time to clean up bad business practices, reengineer poorly performing processes, clean up the chart of accounts, or, transform the mundane into something that delivers outsized competitive differentiation. In these rushed jobs, business value can get sacrificed in the quest for speed. Success should not be an either/or decision to make.
NetSuite, I can report, has these pre-built accelerators and they have also taken steps to remove friction throughout the sales and implementation process. At one point in the user conference, I asked a NetSuite senior executive to join me in the hall and we discussed the NetSuite contracting experience in detail. I had my contract redline notes from a pre-pandemic client gig handy and challenged him as to what they’ve done to mitigate earlier issues.
Time did not permit us to go through everything but I was convinced that the company did, in fact, shorten, simplify and made more reasonable its contracts. The company, for example, now has a third kind of licensed user: one that needs full access to only 1 or 2 modules but not every module. Previously, you could only be a full, all module access user or a read-only access user. Apparently, embedded links are mostly gone and the overall length of the contract is less than a dozen pages. All of this is good news as the typical NetSuite customer does not possess the budget, internal talent, etc. to mount an exhaustive contracting process with a software vendor. It costs too much and simply sours the prospect on a vendor.
I previously mentioned that Derek covered the new CPQ functionality in the NetSuite product line. This tool allows manufacturers and customers to use many of NetSuite’s existing manufacturing and web commerce applications to create a product whose needs exactly match a customer’s while also ensuring the finished product will have all needed components and that these will interoperate with each other. After the product is configured, the software components will inherit pricing and other attributes and these will flow into a price quote for the customer.
CPQ functionality has been a big deal in the MRP and web commerce space in latest years and this should find a lot of adoption within NetSuite’s customer base.
The CPQ (configure price quote) tool we saw at the show was clearly oriented for manufacturers although a couple of vendors on the expo floor were showing some CPQ tools for services firms, too. CPQ capabilities are definitely different for manufacturing versus service firms but many design capabilities can be shared. We’ll have to see when/if NetSuite wants to expand its CPQ functionality to the services arena. Personally, I’d expect them to either build or buy a solution here as they already possess a major PSA (professional services automation) product and a CPQ solution seems like a very logical and valuable product line extension for them to pursue.
I also chatted with some of NetSuite’s larger and more complex customers. These customers confirmed the applicability of NetSuite software in larger, growing entities. They also were users of several of NetSuite partner solutions (e.g., MineralTree, RFSmart, Curo, etc.).
Some of the conversations were notable as the companies are growing in significant organic or inorganic means. One of these companies is over 125 years old and not only navigated the pandemic well but also grew their firm and added new sales methods. Another firm continues to acquire new firms to add to its portfolio. As it does so, it implements NetSuite in these entities, drives process improvements and tries to implement shared services for the member firms. The product is definitely scalable.
We know some NetSuite customers fared well during the pandemic but how did NetSuite do? NetSuite founder, Evan Goldberg, mentioned that NetSuite actually does well during recessions. Companies realize during an economic downturn that they must become more productive and efficient. Old technology, paper/manual systems, spreadsheets and out of date processes are rarely ever desirable but can be toxic to a company during lean times.
Even if these customers were reluctant to share their financial results, you could deduce how much they’ve grown via other tells. For example, one executive discussed how his firm has upgraded its management team several times as it has traversed a couple of thresholds. His firm is good at knowing what every executive’s “Best Used By” date is and bringing in a more capable player at the right time.
Another interesting conversation syllabu with these leaders concerned the growth in data these firms are experiencing. These businesses are acquiring new smart machine tools, capturing web metrics, using third party databases and installing sensors/meters/cameras everywhere. These devices are throwing off a lot of dark data: that is, the kind of data that a company has but isn’t using yet. These companies know this information could be a real asset of their firms but they’re not fully capitalizing on it just yet. This could be a real opportunity area for NetSuite as well.
It’s interesting to see the NetSuite product line growing in functional sophistication and module breadth. This is what enterprise-class vendors do. They add in more functional complexity to help their solutions move up-market.
Simultaneously, NetSuite is making it easier for prospective customers to do business with them via simpler contracts. They’re also making the product implementations more likely to deliver value the first time. These are things you often see when a vendor is trying to go down-market.
So, NetSuite appears to be bringing the best of the small business market/product/implementation world to an ever more sophisticated and powerful up-market solution. In effect, NetSuite is broadening its potential market opportunity. Too bad, its competitors do just the opposite (e.g., make simple products more complex to buy, implement and use).
There may be real value to this strategy. Value that’ll accrue to customers and Oracle shareholders alike.
As your business grows, you may invest in a greater number of software solutions to keep your operations moving forward. Businesses that reach this point often find it’s easiest to streamline all of their systems ‒ including accounting and financial management ‒ into one convenient enterprise resource planning (ERP) platform like Oracle NetSuite.
|Invoicing and bill pay||2.0/2.0|
As part of its robust ERP offering, Oracle NetSuite offers an intuitive cloud financial management solution that allows businesses to track their financial data and automate many essential accounting functions. Like any highly-rated accounting software, it offers reporting, planning, and billing features and easily integrates with other software, including Oracle’s suite of business solutions. It can also be used seamlessly with multiple currencies, so it’s a great option for growing companies with a global customer base.
If your business wants to expedite its accounts receivable and payable, accelerate deal closings, and keep up with financial compliance obligations, while taking advantage of a full suite of powerful business management features, Oracle NetSuite is an ideal accounting solution within an ERP platform.
|Base price||$999 per month|
|Invoicing and payments||Yes|
|No. of clients supported||Unlimited|
Because they can perform a wide range of complex business management functions, ERP platforms are typically priced on a custom basis. Factors such as business size, annual revenue and desired features all affect the cost of the software. Oracle NetSuite is no different, and to get an accurate price estimate, you’ll need to contact an Oracle sales representative. The sales rep will walk you through all the available features of the platform, including inventory management, financial management, point of sale, customer relationship management (CRM) and human capital management software
Based on our research, Oracle NetSuite pricing includes a $999 monthly licensing fee, plus a per-user fee that starts at $99 a month. While this base price can be used as an estimate, your costs may vary significantly depending on your specific business needs.
Because of its high price point, Oracle NetSuite is likely not well suited for a smaller business with simple accounting and bookkeeping needs. However, if your business is growing internationally and you anticipate needing an ERP platform to manage everything, this can be an excellent accounting solution that sets you up for financial success as your company grows. Thanks to NetSuite’s integrated ecosystem, you can save time and money that would otherwise be spent managing multiple software solutions from different vendors.
Key takeaway: Oracle NetSuite’s price varies depending on the different software modules required, the size of your business, its annual revenue and the number of orders your company processes.
Oracle NetSuite’s financial management solution offers a wide range of useful accounting features. Here’s more about how NetSuite can help growing businesses:
With Oracle NetSuite, your business can seamlessly combine its core finance and accounting functions with strong compliance management. This ERP’s financial management solution offers real-time access to your financial data to help you drill into important details, resolve delays, and generate compliance statements and disclosures for your stakeholders.
NetSuite provides the following basic accounting functions to streamline and simplify your financial processes:
Whether your business operates on a transaction, subscription, usage-based or hybrid model, Oracle NetSuite can help you manage your billing operations. It fully integrates into the platform’s advanced revenue management and compliance functions.
Businesses with financial reporting obligations can use NetSuite to easily comply with accounting standards, including ASC 605, 606 and IFRS 15. Using the platform’s rule-based event-handling framework, you can easily automate numerous revenue management and reporting functions, such as forecasting, allocation, recognition, reclassification and auditing.
NetSuite’s planning, budgeting and forecasting functions allow your business to plot out its financial future based on real-time analytics. Use your business data to forecast revenue, plot out what-if scenarios and develop accurate budgets. Oracle’s powerful reporting and analytics tools also allow you to gain a more complete picture of your business at any time to make better informed decisions about your finances.
If your business plans to expand its borders and go global, you need a financial management solution that helps you manage your international transactions and compliance obligations. Oracle NetSuite’s powerful financial engine gives you maximum transparency and visibility into your business across countries and in real time so you can manage your operations at the local and global level.
To make it easier to run an international business, NetSuite offers a variety of language interfaces to overcome language barriers and a multicurrency management system that supports over 190 different forms of currencies and automatically accounts for the current exchange rate for real-time conversion.
With Oracle NetSuite, your business will always be audit-ready. This ERP platform supports your company’s governance, risk, and compliance (GRC) programs so you can handle increasingly complex regulatory, operational, and compliance challenges as you scale.
The platform can also establish a sustainable risk management and compliance process for your company so you can anticipate major risks before they happen.
Oracle NetSuite offers seamless integration with all its ERP solutions and integrates with many leading business software providers. If you use other vendors to manage your operations, you can use NetSuite’s open APIs to introduce new integrations.
To take advantage of these integrations, businesses can hire a NetSuite dedicated implementation team for an additional fee. The team not only helps set up the ERP platform itself, but also assists with any additional integrations and project management planning.
Want to use Oracle NetSuite as part of a larger ERP solution? Your financial management processes will integrate seamlessly with Oracle’s full suite of products. This is helpful if you’re trying to gain a more holistic view of your business’s financial transactions, budgets and forecasts.
Here are a few additional useful functions you’ll find within Oracle NetSuite.
Stay on top of your warehouse ordering. This solution helps you ensure ideal quantities of each item you sell by automatically analyzing historical sales and logistics data. NetSuite can determine the best reordering time frame for each product and replenish stock to an optimal threshold when it runs low.
NetSuite helps companies with every sales or work order while providing real-time visibility into every step of the production process. This ERP’s end-to-end manufacturing software solution can help you run your entire business and make better-informed decisions.
NetSuite helps you seamlessly manage each point in your supply chain, regardless of where your physical product is manufactured or stored.
NetSuite helps businesses with inbound logistics, outbound logistics, and inventory management, streamlining your warehousing operations and helping you minimize costs for on-time delivery. The built-in warehouse management solution enables you to manage your distribution operations using customized user-defined strategies and advanced real-time updates and integrations.
With Oracle NetSuite, it’s easy to purchase goods and services for your business quickly and at the best prices. Real-time information helps you better understand your company spend and vendor performance while automation and workflow integrations deliver a more accurate procure-to-pay process.
Manage your team and your human resources processes with NetSuite’s HCM solution, SuitePeople. This solution allows you to streamline employee onboarding and information collection for new hires while also giving visibility into your workforce operations.
Did you know? Oracle NetSuite offers several key tools that are critical for financial management, including basic accounting functions, billing, revenue recognition, planning and reporting, GRC, and more.
For growing international businesses, Oracle NetSuite offers a robust, all-in-one ERP solution that puts your most valuable business data into a single platform. NetSuite’s full product suite allows your organization’s various departments and systems to operate harmoniously and in real time so every person in your company is always up to date.
Key takeaway: Oracle NetSuite provides just about every feature you could want in an ERP, allowing for a seamless single solution for managing all your operations.
In terms of accounting software, NetSuite may be prohibitively expensive for smaller businesses. Additionally, it may offer far more functionality than your business needs at this point in its growth, and you don’t want to pay for features you’ll never use.
Ultimately, NetSuite is ideal for midsize and large businesses operating a complex operation, as this ERP solution performs best when all of the modules are used in conjunction with one another.
Tip:The high price tag of Oracle NetSuite may be too much for small businesses with less complex financial management needs.
Oracle NetSuite delivers top-notch customer service across its entire ERP platform, including its financial management solution. The company’s educational resources deliver users the opportunity to learn about NetSuite’s full range of products and stay updated on any new features or capabilities.
NetSuite offers 24/7, real-time support for industries via phone, email and a built-in chatbot on its website. The automated chat functionality can answer simple FAQs or connect you with a customer service representative.
Key takeaway: Oracle NetSuite’s customer service is on a par with what you would expect from a world-class ERP solution, so you can count on being able to find answers to your questions and concerns.
The MarketWatch News Department was not involved in the creation of this content.
SAN MATEO, Calif., (BUSINESS WIRE) -- Imperva, Inc., (@Imperva) a cybersecurity leader whose mission is to protect data and all paths to it, announces that Imperva is extending its award-winning, hybrid data security platform to Oracle Cloud Infrastructure (OCI) to help customers simplify migration, and automate compliance monitoring of cloud data instances. Imperva Data Security Fabric (DSF) has achieved Powered by Oracle Cloud Expertise status and is now available on Oracle Cloud Marketplace, offering added value to Oracle Cloud customers.
Imperva DSF provides unified data-centric security controls across the entire data estate offering scalability and simpler infrastructure. Through a single interface, Imperva Data Security Fabric helps discover and protect sensitive data types, including structured, semi-structured, and unstructured data, as enterprise customers migrate from globally dispersed data centers to Oracle Cloud Infrastructure. In addition, Imperva DSF supports several Oracle Database versions including Oracle Database 19c, and Oracle Database 21c, as well as Oracle Autonomous Transaction Processing (ATP) and Oracle Autonomous Data Warehouse (ADW). Imperva is also a member of Oracle Partner Network (OPN).
“The cloud represents a huge opportunity for our partner community," said David Hicks, group vice president, Worldwide ISV Cloud Business Development, Oracle. "Imperva’s commitment to innovation with Oracle Cloud along with knowledgeable execution can help our mutual customers deploy cloud-enabled cybersecurity solutions optimized to meet critical business needs.”
“Improving the customer experience is a top business priority driving digital transformation. With customers becoming more attuned to the value of their data and the risks present as a result, organizations need to consider security and data protection as part of this transformation,” said Jennifer Glenn, Research Director for the IDC Security and Trust Group. “For Oracle customers considering moving to Oracle Cloud Infrastructure, Imperva Data Security Fabric can provide visibility and automation across each environment, helping protect critical data at each stage of the migration.”
“Imperva and Oracle have collaborated for years, helping mutual customers monitor and secure their sensitive data,” says Dan Neault, SVP and GM, Data Security, Imperva. “We are excited to share that we have extended our platform to customers migrating their data to OCI with Imperva Data Security Fabric, now available in the Oracle Cloud marketplace.”
Security complexity has hindered cloud agility
The cloud has revolutionized IT, offering organizations a strategic accelerator to rapidly pursue new market initiatives and adapt their operations in the face of new business challenges and opportunities. However, uncertainty about how best to overcome security risks and ensure regulatory compliance has slowed cloud adoption historically.
Significant differences between on-premises and cloud database environments have led organizations to try extending traditional database security tools to their cloud environments. Often they encounter unavoidable limitations, from the technical impossibility of installing agents on database as a service (DBaaS) deployments, to the practical limitations of directing all cloud database traffic through a proxy service. This has resulted in organizations using a patchwork of individual tools. This approach raises the likelihood of human error, unnecessarily increasing the risk of a breach or compliance failure.
Automation for many data security and regulatory compliance tasks reduces, and in some cases, may eliminate the burden placed on data security teams to manually keep compliance updates, records, and audit trails. Imperva DSF can help save time and reduce the cost of securing data by unifying security tasks including data activity monitoring, sensitive data discovery, classification, compliance, risk analytics, and threat detection.
Powered by Oracle Cloud, Imperva DSF provides information security leaders with an approach for enabling security, compliance and governance outcomes. Security teams can benefit by simplifying the protection of the organization’s diverse data ecosystem, with single-pane-of-glass administration, integration with other IT security investments, and broad database coverage.
About Powered by Oracle Cloud Expertise
Powered by Oracle Cloud Expertise recognizes OPN members with solutions that run on Oracle Cloud. For partners earning the Powered by Oracle Cloud Expertise, this achievement offers customers confidence that the partner's application is supported by the Oracle Cloud Infrastructure SLA, enabling full access and control over their cloud infrastructure services as well as consistent performance.
Imperva is the comprehensive digital security leader on a mission to help organizations protect their data and all paths to it. Only Imperva protects all digital experiences, from business logic to APIs, microservices, and the data layer, and from vulnerable, legacy environments to cloud-first organizations. Customers around the world trust Imperva to protect their applications, data, and websites from cyber attacks. With an integrated approach combining edge, application security, and data security, Imperva protects companies ranging from cloud-native start-ups to global multi-nationals with hybrid infrastructure. Imperva Threat Research and our global intelligence community keep Imperva ahead of the threat landscape and seamlessly integrate the latest security, privacy, and compliance expertise into our solutions.
About Oracle PartnerNetwork
Oracle PartnerNetwork (OPN) is Oracle’s partner program designed to enable partners to accelerate the transition to cloud and drive superior customer business outcomes. The OPN program allows partners to engage with Oracle through track(s) aligned to how they go to market: Cloud Build for partners that provide products or services built on or integrated with Oracle Cloud; Cloud Sell for partners that resell Oracle Cloud technology; Cloud Service for partners that implement, deploy and manage Oracle Cloud Services; and License & Hardware for partners that build, service or sell Oracle software licenses or hardware products. Customers can expedite their business objectives with OPN partners who have achieved Expertise in a product family or cloud service. To learn more visit: http://www.oracle.com/partnernetwork.
Oracle, Java and MySQL are registered trademarks of Oracle Corporation.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221013005903/en/
SOURCE: Imperva, Inc.
Copyright Business Wire 2022
The MarketWatch News Department was not involved in the creation of this content.
‘While limited hiring continues, most departments have reached their hiring goals for the fiscal year,’ a Salesforce spokesperson told CRN in an email.
Salesforce has “ended contracts with some temporary recruiting contractors” since many of the company’s departments will not be hiring for the rest of its fiscal year, a spokesperson confirmed to CRN.
Social media posts from affected workers putting the number of those cut at around 90 began appearing earlier this week. Protocol first reported the cuts as well as a hiring freeze.
[RELATED: Oracle Lays Off 201 Employees In California]
“While limited hiring continues, most departments have reached their hiring goals for the fiscal year. As a result, we have ended contracts with some temporary recruiting contractors,” a Salesforce spokesperson said in an email to CRN.
At least nine users of the LinkedIn social media network posted to say they no longer work for the San Francisco-based vendor, with At least three of those LinkedIn users saying that “90+” Salesforce employees were laid off. The LinkedIn users said they worked in recruitment and business development. Salesforce has more than 73,000 workers.
The worker cuts come about two months after Salesforce lowered its guidance for the amount of revenue it expects to see for the fiscal year, ending Jan. 31, 2023. It was the second haircut to guidance this year from Salesforce.
Executives in August reported a year-over-year quarterly rise in second-quarter revenue and strong growth with its Slack subsidiary and Sales Cloud and Service Cloud products, but decelerations in Commerce Cloud and Marketing Cloud during the company’s latest quarterly earnings call.
Salesforce co-CEO Marc Benioff said at the time that he and his team saw “customers becoming more measured in the way they buy” and sales cycles “get stretched” with deals “inspected by higher levels of management.”
“Nearly everyone I’ve talked to is taking a more measured approach to their business,” he said. “We expect these trends to continue in the near term.”
Other technology companies to cut workers recently as fears of a recession grow include Oracle, Twilio and Avaya. And Intel may have plans for layoffs as the PC market slumps, according to a report earlier this week.
The reports come amid global economic uncertainty that has the channel preparing for a possible recession. This week, Douglas Holtz-Eakin, former director of the U.S. Congressional Budget Office, told a crowd at CRN parent The Channel Company’s XChange Best of Breed 2022 conference that he expects a modest recession to hit during the middle of 2023 due to the Federal Reserve increasing rates, continuing inflation and uncertainty ahead with China as well as Russia’s war in Ukraine.
Some technology leaders have remained optimistic that IT will remain resilient in a recession. Also speaking this week at Best of Breed, IBM CEO Arvind Krishna said that technology spending generally is growing 3 percent to 4 percent faster than GDP over the past five years.
He told the crowd that energy security, i.e. a readily available supply of uninterrupted, affordable power, and a strong U.S. dollar means the Americas could also weather a recession well, while Japan, India and Australia all show positive data in the face of a recession as well.
Oracle has begun to verify software tools from third-party vendors designed to monitor the licensing of Java products in enterprise environments, prompting a warning from one expert.…
In March, the omnipresent software giant began to include Java tools in its software licensing audits, often feared by users who can get caught out by the small print if not the spirit of the contract.
Big Red first introduced two new licensing models for its commercial Java platform, Standard Edition (Java SE), in April 2019 when it began charging license fees for previously free Java. This requires users to purchase an annual subscription for commercial Java SE products in order to receive patches and updates.
By September 2021, when Oracle released Java 17, it began to offer a no-fee license with free quarterly updates for three years – but only for that iteration, not earlier releases such as Java 7, 8 and 11.
Oracle has now Verified vendors who offer product tools to help monitor licensing and usage data of Oracle database, Fusion middleware, and Java. The two approved vendors are Flexera and Lime Software.
Oracle has an approved set of licensing tools for its broader set of application and infrastructure software, and experts have warned that, while they can be useful, they do not secure the user organization a cast-iron license position in defense of an aggressive audit. In fact, Oracle is free to use the data from the tools to inform its case in the audit.
In March, Garrick Brivkalns, program manager for Oracle Global Licensing and Advisory Services, told a webinar that Oracle only Verified raw usage data on these tools. It was "not working to verify any other aspects that the tool might possess such as entitlements tracking, matching entitlements, the usage, and compliance position determinations," he said.
Craig Guarente, founder and CEO of Oracle licensing advisory firm Palisade Compliance, told The Register this week that the new Java audit tools should come with a similar health warning.
"None of these tools can deliver you a compliance position," he said. "These Verified tools, whether they are for Java or other products, just mean that Oracle verifies that the tools bring in all the information Oracle would need to conduct an audit. For example, if the tools say you are using 100 licenses, that does not mean that Oracle will agree you are using 100 licenses. It just means that Oracle will be able to take the raw data and do their own analysis and come up with their number."
Although the tools could make it easier for Oracle to audit a user, they were useful at least in the sense they provided a data point. "That's better than nothing," Guarente said.
Palisade has a Java licensing tool which would never be Verified by Oracle because "that is not in the best interests of our clients," Guarente said
However, Lime Software argued that since 2010, Oracle had accepted the data collected by various tool vendors.
"Tool [verified] vendors should bring back the same data Oracle would," director Alex Andrew told The Register. "When we build our products, we break down each licensed component, build test scenarios for usage of each product, and demonstrate that across all platforms and versions we were collecting the right data."
He said the tools were safer to use than Oracle scripts themselves because they are not supported by Oracle for production environments. "I'm not saying that I have ever seen a case where the scripts failed or caused production issues. It's just one of those things that makes the management team nervous," he said.
Use of Verified licensing tools was "a great way to defend against an Oracle audit," Andrew said.
"Forewarned is forearmed, especially in the case of Oracle Java. There has been a lot of misleading advice about Java licensing given it is a fairly new and extensively wide-scale problem hitting C Level procurement and software asset management teams."
But there are exceptions where versions and environments do not need licensing, Andrew said. The Lime Software was designed to reveal that information, but it should be used in isolation, he said.
A more complete approach to compliance involves tools, people, and processes to get most out of their agreements without becoming non-compliant. "The tools should be identifying the risks, the consultants should be managing those risks, the processes should mean that the risks don't recur," he said. ®
The MarketWatch News Department was not involved in the creation of this content.
Oct 11, 2022 (Alliance News via COMTEX) -- Quadintel's latest global SaaS-based Expense Management market research report gives detailed facts with consideration to market size, cost revenue, trends, growth, capacity, and forecast till 2030. In addition, it includes an in-depth analysis of This market, including key factors impacting the market growth.
This study offers information for creating plans to increase the market’s growth and effectiveness and is a comprehensive quantitative survey of the market.
Download Free sample of This Strategic Report :-https://www.quadintel.com/request-sample/global-saas-based-expense-management-market/QI046
For industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders searching for vital industry data in easily accessible documents with clearly presented tables and graphs, the research contains historical data from 2017 to 2020 and predictions through 2030.
The Global SaaS-based Expense Management Market size is expected to reach $6.6 billion by 2028, rising at a market growth of 11.2% CAGR during the forecast period.
The report provides a comprehensive analysis of segments in this market, covering all the major regions and countries. The major regions analyzed in the study are North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The report also includes additional information about other factors such as drivers, restraints and challenges faced by this market along with an overview for each mentioned segment in the study.
GlobalSaaS-based Expense Management MarketSize, Share & Industry Trends Analysis Report By Component (Solution and Services), By Vertical, By Organization size (Large Enterprises and SMEs), By Type, By Regional Outlook and Forecast, 2022 - 2028
Increased use of mobile devices & app-based services, as well as rising adoption of SaaS-based expense management solutions across industrial sectors, are factors influencing the SaaS-Based Expense Management market. Also, the growing trend of business outsourcing in the economy and the uptake of SaaS technology across a number of industry verticals have an impact on the market expansion.
The employee expenses are tracked using a SaaS-based expense management service, which also calculates the organization's reimbursement costs. Additionally, it puts into practice the rules & regulations in place to curb overspending. Additionally, it is affordable, eliminates errors, and offers analytics tools for a greater understanding of the financial health of the organization. SaaS-based expenditure management software also gives users and enterprises visibility into areas that require improvement, such as more effective expense management & enhanced business processes.
All businesses must keep tabs on their whole cost of operations, which includes managing spending. For repayment of out-of-pocket expenses, employees are required to submit expense reports. To help ensure that the business can deduct all necessary expenses, managers must approve such expenses for reimbursement, monitor how much is spent on T&E (travel and expense), and document everything for tax purposes.
The old approach of gathering spending information involved printing duplicates of the paper, including receipts, & forwarding reports to managers who either approved them or returned them to the individual for revision. With the advent of automated expense management software, the procedure has become quick & easy. The software shares the report for approval when the employee submits it. Following approval, the report-based reimbursement amount is automatically credited to the payroll. The software automatically transmits the report to a different approver if the manager is out of the office. The cost and time associated with managing these operations are decreased with the use of expense management software.
COVID-19 Impact Analysis
The COVID-19 pandemic has had a significant impact on enterprises all across the world. The lockdown imposed by many governments has positively impacted the growth of SaaS-based expenditure management systems. Due to an increase in the culture of working from home around the world, the market is anticipated to expand quickly following the pandemic. After COVID-19, businesses are focused on cutting-edge technology to undertake contactless operations across industries like BFSI, healthcare, IT & telecom, and AI (artificial intelligence), ML (machine learning), IoT (internet of things), and analytics.
Market Growth Factors
Increase In The Use Of Mobile Apps & Smartphones
SaaS is a new technology that enables businesses to access & store data online. Some of the important features of SaaS technology are flexibility, scalability, reliability, & agility. Also, SaaS somewhat lowers a company's IT infrastructure costs, which is the major element in the rising use of SaaS-based expense management solutions by businesses and the subsequent expansion of the market. Businesses are investing increasingly in mobile SaaS as well as app-based solutions as smartphones are becoming an essential part of people's lives that allow for simple access to information whenever & wherever.
Quick and economical
When it comes to processing expenses, the adage "time is money" could not have been more true. While expense management doesn't produce income, it is a necessary task for every company to perform in order to stay on track. Accurate, simple to use, as well as straightforward is how to describe cloud-based expense management software. The difficult job has already been completed on the backend. Users only need to enter the relevant data & numbers at this point. Cost control is ensured by using an automated cloud-based expense management system because there is very little potential for human error.
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Market Restraining Factors
Chances of fraud & non-compliance rising.
Employees are capable of forging expenses & receipts and submitting them to the finance department without detection. The corporation might be paying more than necessary as a result. However, users can be sure that expenses can be recorded in real-time as well as easily Verified with an effective expense management system, particularly automated ones. In order to properly monitor every step of the spending process, the companies also Improve transparency.
Based on the component, the SaaS-based Expense Management market is segmented into solution & services. In 2021, the services segment acquired a substantial revenue share in the SaaS-based expense management market. Adoption of SaaS-based expense management services simplifies software implementation, increases the value of a current installation by optimizing it, and reduces deployment costs & risks, due to this, the demand for such services is increasing resulting in market growth.
On the basis of vertical, the SaaS-based expense management market is categorized into telecom & IT, BFSI, manufacturing, retail & e-commerce, government & public sector, healthcare & life sciences, media & entertainment, energy & utilities, travel & tourism, and others. The healthcare segment procured a significant revenue share in the SaaS-based expense management market in 2021. Because of the better end-to-end security with regard to patient data, cost advantages, & greater connection benefits that it provides to users, SaaS-based expense management is becoming more and more popular in the healthcare sector.
By type, the SaaS based expense management market is bifurcated into travel & expense management and telecom expense management. The travel & expense management segment led the SaaS-based expense management market with the highest revenue share in 2021. To organize financial processes and Improve an enterprise's overall operational efficiency, businesses are implementing SaaS-based travel and expense management solutions.
Organization size Outlook
Based on enterprise size, the SaaS based expense management market is divided into large enterprises & small & medium-scale enterprise. The small & medium enterprise segment acquired a significant revenue share in the SaaS based expense management in 2021. This is due to the growing adoption of cloud-based SaaS-based expense management in SMEs because of cheaper costs and easier maintenance. Additionally, it offers adaptability and scalability to Improve business operations, driving the growth of the SaaS-Based Expense Management market.
Region-wise, the SaaS-based Expense Management market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2021, North America region led the solar charge controller market. Due to the increased adoption of SaaS-based expense management in the banking and finance, manufacturing, & healthcare industries to enhance operations and customer experiences, this region is expecting high demand for SaaS based expense management.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Oracle Corporation, IBM Corporation, SAP SE, Apptricity Corporation, Insperity, Inc., SutiSoft Inc., Emburse, Inc. (Certify), Infor, Inc. (Koch Industries), and Zoho Corporation Pvt. ltd.
Strategies Deployed in SaaS-based Expense Management Market
Jun-2022: Oracle launched Oracle Food and Beverage Payment Cloud Service, a new payment processing service, which would enable restaurants to avoid excessive costs. This service would allow restaurants in the United States to accept contactless payment options, including debit/credit cards & Apple Pay, Google Pay, and Samsung Pay, without hidden fees & unpredictable costs.
Apr-2022: IBM partnered with Skyscend, a 'cloud-native' set of technology solutions. This partnership aimed to enable Skyscend to combine IBM's cutting-edge technologies with the company's Pay B2B SaaS fintech platform to service the worldwide marketplace. The secure & patent pending SaaS solution would integrate into any ERP or Spend Management solution.
Jan-2022: SAP SE came into partnership with Icertis, a software company providing contract management software to enterprise businesses using a software-as-a-service model. Through this partnership, the companies focused on enhanced contract management to help companies raise efficiency, minimize risk & realize the full intent of their agreements. The partnership included a financial investment from SAP in Icertis, which would lead to a joint product road map & deeper technological integration to deliver enterprise-wide value, including faster negotiations, greater compliance & AI-powered business insights, and automation.
Oct-2021: SAP SE teamed up with Qualtrics, an American experience management company. Under this collaboration, the companies introduced Concur Experience Optimizer, the latest solution that would enable companies to enhance employee experiences & confidently adapt travel & expense programs for the future of work.
Sep-2021: SAP SE entered into a partnership with Amazon Business, an American multinational technology company that focuses on e-commerce, cloud computing, digital streaming, and AI. The partnership aimed to allow employees to tap into hundreds of millions of items on Amazon Business directly from within SAP Ariba solutions & assist with compliance with corporate purchasing policies. With this partnership & technology integration, Amazon Business becomes a source of supply for Spot Buy, a capability within SAP Ariba solutions for users to buy items from trusted suppliers. This new integration would utilize a real-time search API so users of guided purchasing can search for items & receive results from Amazon Business, along with other online stores, e-commerce providers & direct sellers, directly within the SAP Ariba solution.
Sep-2021: Oracle introduced Oracle Payroll Core, a new payroll solution and part of Oracle Fusion Cloud Human Capital Management (HCM). Through this launch, the company aimed to help organizations, starting with Intergovernmental & Nongovernmental organizations (IGOs and NGOs), navigate complex pay rules & policies to efficiently pay any employee, anywhere, in any currency. Oracle Payroll Core is a flexible payroll management solution that allows organizations to easily configure payroll to meet local as well as international pay rules in a single system. It enables organizations to meet exceptional business requirements not addressed with traditional payroll solutions.
Jul-2019: Certify took over Emburse, a startup that provides virtual & physical commercial cards. Under the acquisition, the Emburse would join Certify/Chrome River?s present portfolio of spend management solutions from Abacus, Nexonia, Tallie, and Captio. Emburse would first be integrated into the Abacus expense management platform. In addition, adding Emburse to Abacus would allow the next major step in real-time expense reporting innovation via providing policy insight in advance of the purchase.
Mar-2019: Oracle released Oracle Enterprise Resource Planning (ERP) Cloud & Oracle Enterprise Performance Management (EPM) Cloud. This launch is aimed at expanding the company's artificial intelligence capabilities. The new machine learning-based innovations include an expense reporting assistant, project management digital assistant, advanced financial controls & project-driven supply chain management.
Sep-2018: Certify acquired Captio, a leading expense provider in Europe. The acquisition aimed to enable Certify to offer its expense management products for large, midsize, and SMB customers throughout Europe & specifically in Spain, Portugal, France, and Italy, where Captio has a strong consumer base and a growing presence.
Aug-2018: Zoho partnered with Uber, American mobility as a service provider. Under the partnership, Zoho would automatically import Uber for Business trip receipts into Zoho Expense, its expense reporting & tracking software. With the direct integration between the Uber & Zoho apps, business travelers are no longer required to manually forward Uber receipts to Zoho Expense. Instead, Uber users worldwide would be able to select Zoho Expense from the Uber app, and their receipts would be automatically added to Zoho Expense reports to streamline tracking & reimbursement.
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Scope of the Study
Market Segments covered in the Report:
Telecom & IT
Retail & Ecommerce
Government & Public Sector
Healthcare & Life Sciences
Media & Entertainment
Energy & Utilities
Travel & Tourism
By Organization size
Travel & Expense Management
Telecom Expense management
Rest of North America
Rest of Europe
Rest of Asia Pacific
Rest of LAMEA
Emburse, Inc. (Certify)
Infor, Inc. (Koch Industries)
Zoho Corporation Pvt. ltd.
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