Trends and strategies are shaping the landscape for Oracle NetSuite partners

  In 2024, several trends and strategies are shaping the landscape for Oracle NetSuite partners, particularly in the EMEA region. Here are some key points: 1. Revenue Growth from Existing Customers: - Oracle NetSuite partners have seen significant revenue growth from existing customers. Revenue from customers of NetSuite’s EMEA partner base has increased by 45% since last June compared to the same period the previous year. This growth is attributed to the expansion of NetSuite's product offerings and the willingness of customers to invest more in the suite[1]. 2. Upselling and Cross-Selling: - There is a strong emphasis on upselling and cross-selling more of NetSuite's software to existing customers, a strategy dubbed "Suite Up." This approach is encouraged by Oracle NetSuite executives to help customers "do more with less" during economic turbulence[1]. 3. Renewal Rates and Customer Satisfaction: - Renewal rates through Oracle NetSuite partners are described as "exceptional," indicating high customer satisfaction. This is partly due to the increased support and understanding provided by partners who have achieved formal certifications[1]. 4. Partner Certifications: - There has been a significant increase in the number of EMEA-based partners achieving formal certifications. The top 10 partners in EMEA have attained over 300 certifications or authorizations, which is linked to their success and ability to better serve customers[1]. 5. Focus on New Business: - While growth from existing customers is crucial, Oracle NetSuite partners are also encouraged to focus on acquiring new business. This includes efforts to achieve "logo growth, revenue growth and renewal rates"[1]. 6. Technological Innovations: - The latest release of NetSuite, version 2024.1, includes several innovations that partners can leverage to enhance their services. These include AI-powered features such as NetSuite Text Enhance and NetSuite Bill Capture, which help users save time and improve efficiency. Other updates include enhancements to financial management, sales and billing processes, and field service management[5]. These trends highlight the importance of both deepening relationships with existing customers and expanding the customer base, while also leveraging technological advancements to provide better support and services. Sources: - [1] www.channelfutures.com - [2] www.netsuite.com - [3] www.netsuite.alphabold.com - [4] www.netsuite.com - [5] blog.tekiio.com      

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