Oracle Partners With NetSuite On Cloud-Based Solutions and 2 Other Hot Stocks to Watch
Oracle Corporation (NASDAQ:ORCL): Current price $30.83
For the third time this week, Oracle has reached a partnership agreement with a top firm. On Thursday, the corporation signed a deal with NetSuite through which to deliver cloud-based human resource and financial solutions to mid-size companies. Earlier this week, Oracle signed partnerships with Microsoft Corporation (NASDAQ:MSFT) and Salesforce.com (NYSE:CRM). Oracle’s ERP segment rival NetSuite can contribute enterprise resource planning applications to mid-size businesses, and now, the accord will have Oracle and NetSuite collaborating to extend services and products to small and mid-size businesses as well. A Gartner report suggests that global ERP spending could reach $34.3 billion in 2017 from an estimated $26.03 billion this year, so the current partnership places Oracle in a better position to exploit the growing trend in the ERP market.