Oracle NetSuite’s new deal
Oracle (ORCL) NetSuite, which offers a cloud-based business management platform to clients like ERP, financials, CRM, e-commerce, and inventory management, continues to gain market traction through new deals. On August 13, Oracle NetSuite entered into an agreement with Selecta Biosciences, a clinical-stage biopharmaceutical company that deals with enzyme, oncology, and gene therapy.
The deal with Oracle NetSuite will help Selecta Biosciences easily manage financial, accounting, and project management processes with a one-stop solution. The deal will help the company save time and money.
Another biopharmaceutical deal
BioMonde, another biopharmaceutical company, signed a contract with Oracle NetSuite OneWorld to streamline its business through a unified platform. The deal helps the company take prompt action regarding patients’ requirements by offering a holistic view of financial, customer, and product information. The deal allows BioMonde to focus on extending its market reach.
Winning new deals across the biopharmaceutical industry might boost Oracle’s cloud business. In the above graph, you can see Oracle’s revenue growth for its cloud business in the last five quarters. Since Oracle entered the cloud business late, it’s way behind other large cloud operators like Microsoft (MSFT) and IBM (IBM). Oracle bought NetSuite in July 2016 for $9.3 billion to strengthen its foothold in the cloud space.