NetSuite Introduces NetSuite Capital
NetSuite announced a series of new product innovations last week, including one named NetSuite Capital. NetSuite Capital is an embedded service that allows NetSuite customers to “accelerate payments and increase working capital by reviewing, pricing, and submitting invoices from accounts receivable for immediate payment.”
NetSuite’s market is large. Over 25,000 businesses use it to process $1 trillion in invoices annually.
The technology that makes NetSuite Capital possible is powered by Raistone, a b2b finance payments company that has landed big partnerships including Mastercard, SAP, C2FO, and more. According to Raistone, “4 million companies submit and receive $6 trillion in invoices annually.”
NetSuite is a cloud ERP system that was acquired by Oracle in 2016. Unlike Quickbooks which is mainly an accounting software for small-to-midsize businesses, NetSuite is primarily for larger businesses that are looking for an all-in-one ERP solution.Last modified: October 22, 2023