About NetSuite
What is NetSuite?
NetSuite is an all-in-one cloud business management solution that helps more than 32,000 organizations operate more effectively by automating core processes and providing real-time visibility into operational and financial performance. With a single, integrated suite of applications for managing accounting, order processing, inventory management, production, and supply chain and warehouse operations, NetSuite gives companies clear visibility of their data and control of their business.
Who uses NetSuite?
NetSuite is used by more than 32,000 customers across 200+ countries. Ideal for rapidly growing companies of any size in any industry needing a foundational financial management system that can scale and adapt as the business expands. From start up to IPO to global expansion, NetSuite supports every stage of your business journey.
How do you use NetSuite?
NetSuite is a cloud-based system, which can be accessed through an internet connection. There is no additional hardware, software installations or downloads necessary to use the software. Role based dashboards provide a quick and easy way to get real time information to help run the business.
How much does NetSuite cost?
Users subscribe to NetSuite for an annual license fee. Your license is made up of three main components: core platform, optional modules, and the number of users. There is also a one-time implementation fee for initial setup. As your business grows, you can easily activate new modules and add users.
Does NetSuite have an app?
Available for IOS and Android, NetSuite’s mobile app is designed with a mobile-first UI for key workflows and support push notifications for time sensitive actions, allowing users to streamline work on the go.
NetSuite pricing
NetSuite does not have a free version. NetSuite paid version starts at £406.00/month.
NetSuite Reviews
Feature rating
- Industry: Human Resources
- Company size: 501-1,000 Employees
- Used Daily for 2+ years
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Review Source
It is a great ERP but it is not for everyone
Accounting, Trasury. Reporting (but we ended up doing the reporting outside the ERP)
Pros
Netsuite has a lot of potential when automating processes. It is a great ERP for big Companies or big startups.
Cons
There is not much literature about netsuite or learning material. Because of this, you are trapped with Consultants. Sometimes you might get lucky but sometimes no. I had both experienceThe ERP is complex to implement. It has become popular in the startup world but it´s complexity does not make it ideal for everyone. Yes. the potential is great but you really need to do a good research before jumping to implement this ERP
Alternatives Considered
OdooReasons for Switching to NetSuite
The potential of Netsuite when growing and to manage several entities from one placeResponse from Oracle
Thanks for taking the time to leave a review, Victor! If you haven't already done so, feel free to check out our NetSuite Customer Community. https://community.oracle.com/netsuite
- Industry: Computer Software
- Company size: 51-200 Employees
- Used Daily for 1+ year
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Review Source
Overall a great accounting software for medium-sized businesses
Overall switching to NetSuite transformed our Finance team from data entry people to auditors. With most menial tasks automated or semi-automated, it freed up more time to audit our data and be more proactive with our accounting in general. Revenue management, which used to be a 100% manual, line-by-line nightmare, is now almost fully automated. Human errors were greatly reduced. Our sales opening process is almost fully automated thanks to the seamless Salesforce integration. Overall we are very satisfied with our switch.
Pros
The Revenue Management feature is amazing, a bit tricky to understand but once you get the hang of it it saves a ton of time.Multi-subsidiary and multi-currency work extremely well. We have 8 different subsidiaries in 3 currencies and it's made our lives so much easier to have them all in one place, with automatic currency conversion and automated end-of-month eliminations.Having automations like monthly postings to our GL, amortization calculations for our numerous IT purchases and monthly subscriptions, and the great reconciliation tool has saved us a ton of time during month's end.Integration with Salesforce was a breeze with an out-of-the-box connector.Support is generally very knowledgeable, problems are quickly fixed and answers quickly answered. There is a great Help tool (SuiteAnswers) where we find an answer to most of our problems, as well as a very active Enhancements Requests database.
Cons
Some features lack flexibility, like revenue recognition posting, but there are workarounds.User adoption can be slow because the system is very different from most mainstream systems, with it being so automated.Sales taxes management for Canada isn't totally adapted since they replicated American functionalities with Canadian codes, but there are also workarounds to this.
Alternatives Considered
Sage IntacctReasons for Choosing NetSuite
We used to keep our accounting in four different software, with subsidiary eliminations being done totally manually. It wasn't scalable anymore and we needed a tool that would allow for more automation and less data entry as well as easier reconciliations between subsidiaries and currencies.Switched From
Sage 50cloud Accounting, QuickBooks Desktop Enterprise, Quickbooks Online and Microsoft Excel- Industry: Retail
- Company size: 2-10 Employees
- Used Daily for 1+ year
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Review Source
Small Retail and Internet Businesses Beware
On paper things looked good. Two years down the road and I am running the company by gut instinct and need to overview every order to make certain it is covered. Inventory is a mess. Projections are not available. And COGS are often zero. ACS is a ripoff- most jobs were not completed within a quarter- and we still have hours remaining. Job not done? Too bad. Use ACS for install only and then bite the bullet after the first year. Their hourly charges are ridiculous. I am uncertain if Netsuite even remotely cares about small accounts- this is an 80K program. And it is costing us approx 200K yearly including lost revenue due to inventory, additional staff, and lost productivity. Language has been an issue. Even our quote from netsuite for renewal has needed careful overview. Finally we were instructed by netsuite to hire an outside party to get the jobs done that someone else could do. At $145 per hour. Fingers crossed. Netsuite assumed zero responsibility for anything. So, if you are a small business that is growing and changing reasonably quickly I would strongly urge you to seek another program. The program has kept our company dead in the water. For at least 18 months. My experience with Dynamics, which also has difficulties, was better with high functionality within 12 months. Needless to say, we are signing the contract with Netsuite but will switch once it is expires and we are more prepared. They simply do not provide adequate service to smaller businesses.
Pros
I would assume it would be good if it worked. AS is the only functionality we have are additional integrations. Ones that cost 9K.
Cons
Customer service is pretty awful. Jobs simply were not done. It was similar to playing the game telephone. While our rep is sympathetic they have little or no power to do anything.
Alternatives Considered
Dynamics 365Reasons for Choosing NetSuite
We felt it was necessary for growth of the companyReasons for Switching to NetSuite
Previous experienceResponse from Oracle
Thank you for taking the time to leave a review. We take our customer feedback very seriously as we strive to improve every aspect of your experience. Please reach out to your Account Manager directly and/or email me at [email protected] so we can connect directly with you on feedback.
- Industry: Transportation/Trucking/Railroad
- Company size: 11-50 Employees
- Used Daily for 1+ year
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Review Source
One source of truth
Our move to Netsuite was very smooth and allowed for us to transition with no downtime. Support has been outstanding and the ability to customize ourselves has been invaluable as we continue to make it our own.
Pros
NetSuite provided our once disjointed business with one single source of truth. All users now have access to an all around view of our customers making business decisions easier and allowing information to be readily available real time.
Cons
The standard inventory module is very standard - while allowing for multiple warehouse locations, item/bin location reporting can be tricky to create without advanced module.
Reasons for Choosing NetSuite
Our systems were not integrated which required a lot of duplicate entries and mismatched information. Out teams only had part of the picture.Reasons for Switching to NetSuite
Netsuite could be a single source of truth for us - and met all of our business needs in one package.- Industry: Accounting
- Company size: 201-500 Employees
- Used Daily for 1+ year
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Review Source
Limited QuickBooks Journey to Robust NetSuite
Pros
We have investments in various business arenas (Hospitality, Restaurant, Aviation, Real Estate, Ranches, Home office) and some are intercompany, others are not, but require combined statements. NetSuite allows us to set up the subsidiaries with the proper rollups and consolidation/eliminations, while providing the drilldown process to reconcile any differences, if needed. Moving to NetSuite enabled us to enhance the previous business processes and create process efficiencies/ financial transparencies.
Cons
Integration with the previous business processes was difficult, not due to NetSuite, but the lack of standardization/harmonization of data management, Chart of accounts. i have a short list of issues that have been brought to my attention from the users, but these result from the fact we look at 130 plus subsidiaries in one report and the first column with the GL account reference does not freeze, like in an Excel worksheet (solution = download data into a worksheet).
