Oracle to Put a Lot of Investments for the Continued Expansion of NetSuite PH
Netsuite's founder and former chairperson and chief technology officer and presently Oracle's executive vice president, Evan Goldberg, announced to the Philippine press members of SuiteConnect Oracle + NetSuite that Oracle, which bought NetSuite for $9.3, has been very serious for to achieve their goals for NetSuite.
"The intention is to grow NetSuite faster than when we were growing as a listed company," stated Goldberg. As a matter of fact, he stated that the budget allotment for Netween has been significantly increased to support the said growth initiative.
"Everything at Oracle NetSuite is expanding and there will be no exception as Mark Hurd said they are investing very heavily in distribution and R & D and the Philippines plays a big role so there will be expansion there and obviously for customer support role have to massively increase that because that is the intention to invest in all countries that we serve and I think there will be opportunities and we are very proud of our operation in the Philippines,"
NetSuite functions as a technical support and knowledge process outsourcing center for its worldwide operation in the country where it houses about 1,300 employees.
Much like NetSuite, Coefficients Co Ltd, has been an outsourcing hub of client's around the world, ranging from customer support for a US tent manufacturing company to advertising staff for a top Canadian real estate agent and various digital marketing services.
Earlier this month, Mark Hurd, CEO of Oracle, acknowledged the original NetSuite clients that the company not only bought NetSuite for a hefty amount but the company is also putting in efforts to boost its presence in distribution, and the number of products they offer through the wide range of Oracle Capabilities as they try to penetrate the market in other countries.
When asked if Artificial Intelligence is threatening to replace NetSuite Philippines employees, Goldberg stated that AI is in no way a threat since there are no tasks being carried out at its Manila office can be performed by AI.
However, he clarified that AI will alter the nature of a few jobs, and may cause displacements in some other companies but not for NetSuite. He stated that if by chance there will be some major changes, it could be three years from now.
Group vice-president and general manager of Japan-Asia Pacific for Oracle NetSuite Global Business Unit, Lee Thompson, stated that Oracle has huge plans for NetSuite with the establishment of centers and spokes models.
So far, the company has already built 5 sales centers in Australia, Singapore, Japan, China, and India and some satellite sales headquarters across Asia. They are also hiring many people to help the growth strategy.
Prior to Oracle's acquisition, Thompson stated, NetSuite already has a 30% growth rate but the goal now is have a much faster growth than that.
"Oracle has very deep pockets and making investments in NetSuite," he stade putting emphasis on the acquisition has given NetSuite a lot of acknowledgment in geographies where it is not even known. Oracle also wants to retain NetSuite's identity.
It's pretty much confirmed that AI poses very minimal threat in Philippines' BPO industry, and now that the warfare in the south is over, investments in the country is expected to skyrocket, and the BPO industry is expected to benefit the most from it.
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