Netsuite was founded in 1998 by Larry Ellison as a way for Oracle to branch out into the web-hosted ERP solution space. However, that is where the commonalities between Netsuite and Oracle end.
Netsuite was designed as an entirely web-based ERP solution that allows customers to avoid the purchase of peripheral hardware and software. All that is required are user workstations and internet connections. While many solutions are moving towards cloud technology today, Netsuite has already been there since 1998.
Their easy-to-manage interface allows for a relatively high level of customization without the use of a developer and the customer base for Netsuite is one of the largest in the ERP SMB market.
There is no denying that cloud computing is the wave of the future, and Netsuite has been there longer than any of its competitors. However, some customers are uncomfortable with a monthly subscription pricing model, or having all of their company data hosted off-site. This solution fits perfectly for some customers, and won’t work at all for others. It really comes down to your comfort level with a fully web-hosted solution.