Channel Partners Seek Opportunities With NetSuite Acquisition
Channel Partners Seek Opportunities With NetSuite Acquisition by UCStrategies Staff
The acquisition of Retail Anywhere by NetSuite has been finalized for an undisclosed financial sum. NetSuite is a cloud software vendor and Retail Anywhere is a developer of retail management and point-of-sale applications; it is expected that NetSuite will be able to broaden its SuiteCommerce line as a result of this deal, and this will move the company into the retail spotlight.
According to the general manager of commerce products at NetSuite, Andy Lloyd, the deal signifies the opportunity for NetSuite to offer its channel partners the chance to sell to retail customers. Lloyd added that the company is also seeking to recruit new channel partners experienced and specializing in the retail space.
Recently, both NetSuite and Retail Anywhere worked together, offering a multibillion-dollar U.S. retailer the two companies' applications. Speaking on the experience, Lloyd stated: “[it] really opened everyone's eyes at NetSuite,” particularly with reference to what would be possible with the combination of product lines.
Lloyd added: “There is a massive opportunity to take this solution to midsize retailers,” and this is especially true of those who operate between five to 500 stores.
The 28-year-old, Paso Robles, California-based Retail Anywhere, last year announced the re-release of its applications which had been redeveloped in order to be able to operate successfully on the NetSuite platform. Additionally, Retail Anywhere was also a member of the NetSuite SuiteCloud Developer Network.
There is strong integration between NetSuite's e-commerce applications and the Retail Anywhere applications, yet Lloyd maintains that there is room for improvement and those links can be strengthened still. Furthermore, more functionality will be developed in NetSuite's back-end applications; this includes product assortment planning software which will support Retail Anywhere applications.
In addition to the strengthened integration of applications across both companies, Lloyd stated that Retail Anywhere applications on older platforms will still be supported by NetSuite.
The advantage of having a combined product line is that retailers are better able to organize their online and brick-and-mortar sales operations. In turn, this ensures that customers are able to order a product online, but will also be able to collect it at their convenience from a store near them. Lloyd acknowledged that this particular point has been a challenge for retailers in the past.
The Retail Anywhere-NetSuite collaboration is set to accelerate joint ventures in the future, particularly as both companies have worked on deals in the past. Around 500 retailers are able to make use of Retail Anywhere applications, and additionally, Lloyd notes, there exists much diversity in the retail industry.
He states: “Selling apparel is very different from selling light bulbs. That's where the channel comes in, offering expertise needed to work with different kinds of retailers. There are lots of different roles partners can play.” (CY) Link