NetSuite vs Workday

Last updated: January 28, 2021

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NetSuite
NetSuite is the leading vendor of cloud-based Software-as-a-Service integrated business management software for mid-market enterprises and divisions of large companies. NetSuite's cloud business management system including ERP / accounting, order management / inventory, CRM, professional services automation (PSA), and Ecommerce.
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Workday
Workday is a leading provider of enterprise cloud applications for human resources and finance. Workday delivers human capital management, financial management, and analytics applications designed for the world’s largest organisations. Hundreds of companies, ranging from medium-sized businesses to Fortune 50 enterprises, have selected Workday.
NetSuite vs Workday in our news:

2021. Workday nabs employee feedback platform Peakon for $700M



Workday is acquiring employee feedback platform Peakon for $700M. Managers of large organizations know that the bigger and more spread out your firm becomes, the more challenging it is to understand what’s happening across the company. The company uses weekly surveys to ask specific questions about the organization. For them it’s all about getting good data, and so far customers have used the platform to ask over 153 million questions since inception six years ago.


2019. Workday to acquire online procurement platform Scout RFP for $540M



Workday has entered into an agreement to acquire online procurement platform Scout RFP for $540 million. The acquisition builds on top of Workday’s existing procurement solutions, Workday Procurement and Workday Inventory. The company is trying to be the end-to-end cloud back office player and one of their big gaps has been in procurement. A lot of the Workday investments are in portfolio companies that are complimentary to Workday’s larger vision of the future of Cloud ERP. Today’s definition of ERP includes finance, HCM (human capital management), projects, procurement, supply chain and asset management


2018. Workday acquired financial modelling startup Adaptive Insights



Cloud-based HRM service Workday is buying Adaptive Insights, a provider of cloud-based business planning and financial modeling tools, for $1.55 billion. For Workday it's an attempt to become the go-to place for all for back-office services for its business customers: the company plans to integrate Adaptive Insights’ tools into its existing platform. Adaptive Insights has thousands of customers, and its growth mirrors that both of cloud services and specifically about how business intelligence has developed into a distinct software category of its own over the years, with not just the CFO but an army of in-house analysts relying on analytics of a business’ data to help make small and big decisions.


2018. Workday acquired AI-HR-startup Rallyteam



Workday acquired Rallyteam,  startup that helps companies keep talented employees by matching them with more challenging opportunities in-house. Workday wants to take the Rallyteam team and incorporate it into the company’s engineering unit to beef up its machine learning efforts, while taking advantage of the expertise it has built up over the years connecting employees with interesting internal projects.  Workday provides a SaaS platform for human resources and finance, so the Rallyteam approach fits nicely within the scope of the Workday business.


2017. Workday acquired CRM startup Pattern



Financial management and HR software vendor Workday acquired two-year-old, Redwood City, Calif.- based startup Pattern. Thus Workday is going to compete with Salesforce and other alternatives. Pattern had aimed to lighten the load of managing customer relationships for salespeople and was funded by Felicis Ventures, SoftTech VC, First Round Capital, and various angel investors, who last year provided the company with $2.5 million in seed funding. Some of Workday’s past acquisitions include big data analytics vendor Platfora, acquired last year, and the online learning company Zaption, which Workday also acquired last year and promptly shut down. Terms for both deals were not disclosed.


2016. Oracle buys cloud ERP provider NetSuite for $9.3B


Oracle will acquire NetSuite for about $9.3 billion. Both Oracle and NetSuite’s cloud service offerings aimed at enterprise customers will continue to operate and “coexist in the marketplace forever,” according to a statement by Oracle CEO Mark Hurd. Eighteen-year-old NetSuite claims a dominant position in the cloud enterprise resource planning (ERP) space, which includes offerings to help businesses track supply and demand, inventory, accounting, customer relationships (CRM) and HR. The ERP industry has been an active space for M&A and general consolidation over the past few years, and Oracle in general has been an aggressive acquirer of smaller companies throughout 2016, with recent pick-ups including Opower and Textura.


2015. Workday is going to fund machine learning startups



Workday, the finance and human resources SaaS software provider, announced a new program called Workday Ventures, an investment arm focusing on startups with a machine learning bent. It intends to fund 10-12 companies this year and it has already funded several companies including Thinair, a security service; Unbabel, an online translation tool; Metanautix, a company creating tools to make sense of big data and Jobr, a mobile tool for searching and applying for jobs. As early stage startups with an emphasis on machine learning, these are the types of companies Workday is hoping to work with. Unlike a typical venture capital firm, Workday isn’t setting up a fund with a specific amount of money looking for a set return on its investments. Instead, it sees this as a strategic, rather than a financially motivated project.


2014. Workday acquires HR predictive analytics company Identified



Online ERP and HRM giant Workday has acquired Identified, a company that offered predictive analytics human resources software. Workday says that the company’s “product development team is expected to enhance search capabilities and accelerate the delivery of predictive analytics and machine learning throughout Workday’s suite of applications.” Identified provides professional job search engine and analytics-based recruiting software. Part of its secret sauce was its patent-pending, artificial intelligence technology called “SYMAN,” which aims to organize the masses of disparate, incoherent professional data that lives in social media profiles in order to identify new insights into the job market.


2010. NetSuite fights hairballs. But makes one with Google Apps



NetSuite marketing team is well known for its sense of humor. But before their humor was mainly inspired by SAP and its "stealth" launch of SaaS solution SAP Business ByDesign (that let NetSuite make its business). By the way, it's interesting that actually NetSuite drives away Oracle's customers as well as SAP's, but with respect to Oracle, the NetSuite marketers behave much more modest, because the Oracle CEO, Larry Ellison in co-owner of NetSuite. But let's go back to hairballs. What is it? According to NetSuite, the hairball - is a thing that happens when a company deploys disparate IT systems and then tries to integrate them. The conclusion is simple - use NetSuite, where everything is natively integrated. In addition to funny video NetSuite unveiled the updated system interface and seamless integration with Google Apps:


2009. Netsuite invented Social ERP



Netsuite has already missed the opportunity to use the Social CRM buzz. Salesforce and some other CRM vendors have already unveiled social features and launched the marketing promotions. But Netsuite has all chances to become the first to offer Social ERP. Today Netsuite and InsideView announced about the new partnership in order to create the Social ERP. But why do we need this social ERP software? Everything was clear with social CRM: salesperson needs to monitor customers and leads in the social networks in order to involve into the discussions and sell something. But why ERP, that  is intended for resources accounting and planning, needs the similar features? Netsuite has found some answers to this question.