SuiteWorld 2023: A Conversation with Netsuite's KK Pan on India

On the sidelines of the 25^th anniversary of Netsuite at Suiteworld 2023 in Las Vegas, I sat down with KK Pan, Vice President of Sales at Oracle NetSuite JAPAC, to understand the market trends and Netsuite's role in India and APJ.

Prabhu: India is certainly one of the most critical regions for your organization. Can you explain the significance behind this, aside from its population?

KK Pan: Absolutely, India is undeniably a pivotal region for us. It offers a multitude of compelling reasons. Not only is it home to a vast population, but it also boasts one of the world's largest start-up ecosystems, potentially ranking third or fourth globally, depending on the source. Furthermore, India is a hotbed for innovation, driving progress at an astounding pace, thanks in part to the supportive government. At Netsuite, we are investing significantly in India, and we are excited about the potential.

Prabhu: Can you provide insights into the market momentum that Netsuite is witnessing in India?

KK Pan: India stands as our fastest-growing region, and it was our highest-growth engine in the previous year. It's important to note that we are still in the early stages of our growth cycle in India. India's incredible potential lies in two main areas. Firstly, we are focusing on helping companies with internationalization, recognizing India's substantial economic presence beyond its borders. Secondly, we concentrate on Indian start-ups, particularly those backed by venture capital and private equity. These companies represent high-growth potential and are key players in the market. In this fiscal year, which is still ongoing, we are exploring a greater role in conglomerate play and two-tier ERP adoption. Many companies are outgrowing their initial setups and require more comprehensive solutions to support their growth. We aim to empower them with what we call ASAP: Agility, Speed, Adoption, and Platform, through our offerings. Additionally, we are excited about introducing new products like EPM (Enterprise Performance Management) to enhance our solution portfolio and meet evolving market demands.

Prabhu: With regard to challenges like infrastructure limitations, particularly in terms of cloud adoption, how does your organization plan to address these issues?

KK Pan: Infrastructure challenges are indeed a part of the landscape, particularly concerning data residency and cloud adoption. We have observed a remarkable acceleration in cloud adoption, with concerns about data security now largely replaced by a focus on scalability. With our Oracle Stack, we ensure that scalability is an inherent feature, and our AI capabilities are integrated into our offerings. As for localization and customization, we are building a robust ecosystem of partners who can assist with these aspects. These partners come in two categories - solution partners who implement and customize our solutions based on industry and regulatory requirements and SDN (Solution Development Network) partners who develop solutions beyond our core offering. The ecosystem is a powerful tool for addressing infrastructure and governance challenges. We're also working on expanding these capabilities to make them available beyond enterprises, potentially reaching universities and more.

Prabhu: What strategies do you employ to cater to diverse customer personas, from early adopters to those who may be more hesitant in embracing technology?

KK Pan: Our approach centers around the concept of "land and expand." It's not about overwhelming customers with complexity, but about providing them with the right solution at the right time. We identify the right customers who align with our product and selling personas, ensuring a good fit from the start. We communicate to our customers that we're here for the long term, offering them a platform for growth and adaptability. Through customer success initiatives, we remain engaged with our customers, listening to their evolving needs. It's important to remember that not every customer is a perfect match for our platform, and that's okay. If they need simple accounting software, we're not here to replace that. We're here for customers seeking enterprise-grade solutions to drive growth.

Prabhu: Addressing the challenge of capacity building and learning for companies that may lack the right talent or capability in Asia, how is your organization supporting them in their journey?

KK Pan: Learning and development are integral aspects of our offerings. We have initiatives like SuiteLife, a comprehensive learning program that provides continuous training and upgrades. SuiteLife helps accelerate partner onboarding and provides multiple layers of engagement and support, as well as access to NetSuite best practices. SuiteLife ensures that our clients are always up-to-date with the latest features and best practices. Additionally, we are actively exploring collaborations with universities. By integrating NetSuite into academic curricula, we aim to equip future professionals with the skills needed to thrive in the digital age. This forward-thinking approach not only benefits our clients today but also ensures a talent pool well-versed in using our platform in the future.

Prabhu: From a Netsuite perspective, what is your optimism for the future of India and the broader Asia region?

KK Pan: I am extremely optimistic about the potential of the Asia-Pacific region. With India's burgeoning population and Southeast Asia's growing influence, we are looking at a combined population of over 2 billion people; the middle class is expanding rapidly, presenting a wealth of opportunities. Of course, challenges exist, and the future is uncertain, but in terms of the size and potential, we remain highly optimistic about the growth prospects in this key region. We believe in the power of innovation, adaptability, and continuous learning to drive success.

Prabhu: Thank you for sharing these insights. It's evident that NetSuite's approach is not just about providing services but about fostering long-term partnerships and growth in the diverse and dynamic markets of Asia.

Written by Prabhu Ram