'FUTURE LIES IN COMBINING AI TECH AND BUSINESS APPS'

On the sidelines of the 25th anniversary of NetSuite at SuiteWorld 2023, held in Las Vegas from October 16-20, 2023, Prabhu Ram, Head-Industry Intelligence Group, CyberMedia Research (CMR) sat down with Evan Goldberg, Founder and EVP of Oracle NetSuite. The conversation delved into various themes, spanning from cutting-edge technology trends like Generative Al and its impact on the future of enterprise, to valuable insights on entrepreneurship and the significance of embracing the concept of failing fast.

- Prabhu Ram

Could you offer us a glimpse into your journey as an entrepreneur, spanning from the inception of Oracle Netsuite to its current standing in the industry?

Certainly, my journey as an entrepreneur has been quite a ride. Oracle NetSuite was my second startup, with the first one not succeeding. However, I gained invaluable lessons from that initial failure, which guided my approach with Oracle NetSuite. The most crucial lesson was the importance of having better business insights. I realized that using your own product can be highly beneficial. While being just one customer is not sufficient, it’s valuable to experience your own product in action. When we first implemented Oracle NetSuite within our own company, it was a significant milestone, and it confirmed the potential of the cloud. The ability to access real-time business information anywhere using the power of ubiquitous connectivity without dealing with complex infrastructure was a game-changer. Listening to your own needs and being an end-user of your own product is also a pivotal part of the journey. Additionally, emphasizing empathy and understanding your customers’ problems deeply is essential. We have improved and innovated at NetSuite by using and leveraging design thinking to develop features within the Suite that truly cater to our users’ needs. Thus, the journey involves engaging with diverse customers and addressing their unique requirements while providing flexibility. That is really key to the overall success of the journey.