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NetSuite’s SuiteWorld 2021 hybrid conference looks toward the future of business
People tuned in On Air and joined in Las Vegas for the 10th annual NetSuite SuiteWorld conference held October 18-22, 2021.
According to Oracle, SuiteWorld 2021’s theme was “Power Your Growth,” which focused on strategies and tools for businesses to thrive, “We’re summoning all our superpowers to bring you a reimagined SuiteWorld. We’ve designed this year’s SuiteWorld to bring the NetSuite community together and learn how to power growth.”
From business leaders to superheroes on the ground, this year’s event brought the NetSuite community back together to connect and look toward the future of business. With three keynotes, over 50 dedicated sessions, a high-energy exhibition hall, and unique networking events throughout, there was no shortage of opportunities to engage and learn during the jam-packed conference.
Power your growth
In his SuiteWorld Kickoff keynote, NetSuite founder and executive vice president Evan Goldberg talked about the superpowers that companies need to grow. He said, “We want to provide more superpowers to drive your business forward.”
He presented the new normal, which he calls “The – Dynamic – Multi – Hybrid – Normal” and mentioned that in the future, companies must grow and adapt to “meet your customers and employees where they are.”
Goldberg outlined the essential superpowers that help companies grow, automation for speed, data-driven decision making, and agility to adapt to market shifts.
Throughout the keynote, several NetSuite customer executives joined Goldberg on stage to discuss the future of business including:
- Richard Davis, CEO of Make-a-Wish Foundation
- Shanna Tellerman, Co-Founder and CEO of Modsy
- Tim Guenther, CEO of Clickstop
- Shawn David Nelson, Founder of Lovesac
The keynote concluded with a one-on-one discussion with businessman, author, politician, and TV personality, Kevin O’Leary. Kevin presented many thought-provoking ideas for what he has dubbed this time in history: “America 2.0”.
As an investor featured on ABC’s Shark Tank, he offered tips to deliver successful investor pitches for future starters.
O’Leary recommends entrepreneurs:
- Articulate the opportunity in 90 seconds or less.
- Convince investors they have the right team to execute the plan.
- Know the numbers and understand the business model.
Cultivating Diversity, Equity, and Inclusion: How Organizations Can Recruit and Retain Women
In another powerful session, a panel of leaders passionate about creating a more diverse and inclusive workforce spoke about their experience during this critical time. This group of women in tech included:
- Jennifer Smith, Group Vice President Marketing, Oracle
- Darlene Slaughter, Chief Diversity Officer, March of Dimes Foundation
- Danielle Kayembe, FQ Impact, The Female Quotient
- Rebecca Bayles, Managing Director, Deloitte Digital
- Sara Kaur, CFO for Codex Beauty
During the session, each panelist shared their unique professional experience with diversity in the workplace and how they’re working to create a better future for their companies. The session also addressed how the pandemic impacted women specifically, highlighting that the percentage of women in tech is currently at 28.8%, down from 35% in 1990. Experts predict it could take up to 12 years to reach equal representation. The group also talked about the importance of going beyond recruiting to ensure onboarding, professional development, and mentorship are in place to retain diverse hires.
Notable quotes from SuiteWorld 2021
All businesses have a unique story to tell…there are challenges and failures, and how you respond powers you to new heights.
Evan Goldberg, Founder, and EVP, Oracle NetSuite
Data is the new oil, and customer data from building a direct to consumer business is becoming extremely valuable.
Kevin O’Leary, Businessman, and Television Personality
Companies that were able to pivot to a direct to consumer model…are the ones that survived the pandemic.
Kevin O’Leary, Businessman, and Television Personality
People have always wanted to find purpose in their job, but it’s never been more prevalent than in the last 18 months…they need to have a purpose and feel like they are a part of something.
Jennifer Smith, Group Vice President Marketing, Oracle
When you want to fill the job, you forget about who’s not at the table. So when you have those conversations around diversity and inclusion, you really help people to slow down and step back.
Darlene Slaughter, Chief Diversity Officer, March of Dimes Foundation
NetSuite’s latest product updates
As the leading integrated cloud business software suite globally, NetSuite recognizes the importance of forward-thinking, including how to offer its customers more. Throughout SuiteWorld, NetSuite announced several new products and features designed to improve business results. Gary Wiessinger, Oracle NetSuite SVP of Product Management, explained that each new endeavor aims to use intelligence, automation, and analytics to help companies succeed.
The new features discussed were:
- Suitebanking. Designed to help customers automate key financial processes and gain complete visibility into cash flow, SuiteBanking will bring together automated accounts payable and accounts receivable processes. It will allow businesses to quickly pay bills, send invoices, and get paid, all within NetSuite.
- NetSuite Analytics Warehouse. An extension of NetSuite SuiteAnalytics, NetSuite Analytics Warehouse provides embedded real-time reporting and metrics dashboards, enabling customers to enhance their reports with data beyond NetSuite on a single analytics platform. It has been built to help customers spot patterns and gain insights from NetSuite and additional data to enhance decision-making and grow business.
- Customer 360. The new Customer 360 feature builds on the existing functionality of SuiteCommerce and NetSuite CRM. It delivers essential information and insights on buyers in one place. Customer 360 tracks behavior and shows key performance indicators (KPIs) like customer lifetime value, customer profitability, year-to-date sales, remaining credit, and other key numbers.
- SuiteCloud Development Framework (SDF). SDF creates seamless team collaboration with the ability for developers to source code control, peer code reviews, team development, and integrated debugging.
- Advanced Customer Support (ACS) Playbooks. Available for ACS customers, ACS Playbooks aim to help customers accelerate their return on investment. The playbooks help customers address operational challenges, including revenue recognition, project profitability, and supply chain management, as well as cross-functional processes like quote to cash.
Final thoughts, further reading
If you missed SuiteWorld, you can still purchase an On Air pass, which provides access to a live stream of the keynotes, along with an on-demand library of content. According to Oracle, SuiteWorld will return to Las Vegas in 2022. To be the first to know, subscribe to the SuiteWorld Insider Newsletter – you’ll receive upcoming announcements and deadlines, including the call for submissions, special savings, sponsorship opportunities, and more.
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