The Total Guide to NetSuite ERP
In this guide, we cover everything you need to know about NetSuite ERP integration including market-fit, pricing, features, and comparisons.
We’ve also paired this article with a free e-book to help companies handle accounts payable and global mass payments when using NetSuite. Get your free copy of The Last Mile of NetSuite: Payables Transformation Strategies!
What is NetSuite ERP?
NetSuite ERP software is an enterprise resource planning system handling many business processes and business functions with modules deployed on a true cloud platform. NetSuite works well for business management, business intelligence, financial management, and financial reporting. NetSuite offers real-time visibility for decision-making, taking action, and managing KPIs. Oracle owns NetSuite.
NetSuite ERP modules / software Suites include:
- NetSuite OneWorld
- Financial Management
- Financial Planning
- Order Management
- Production Management
- Supply Chain Management
- Warehouse & Fulfillment
- Accounting Software
- Global Business Management
- Human Capital Management (HCM)
- Professional Services Automation (PSA)
- Omnichannel Commerce / SuiteCommerce
- Email Marketing
Warehouse & Fulfillment includes the NetSuite Warehouse Management System (WMS) and advanced inventory management for retail and wholesale distribution.
Commerce software includes eCommerce and point of sale for in-store. NetSuite order management automates and handles sales order to cash for customer sales and billing. Oracle NetSuite ERP integrates with either NetSuite CRM or Salesforce for customer relationship management and other third-party add-ons for a complete software solution.
Which Types of Businesses Use NetSuite?
Public and privately-held businesses choose to use NetSuite. Business profile and size range from venture capital or private equity funded high-growth small businesses or mid-market companies to enterprise-sized Fortune 100 companies. The NetSuite cloud ERP is built with scalability to support growth in users and the expansion of business needs.
According to Gartner, NetSuite’s cloud core financial management software is outstanding for mid-sized, large, and global enterprises. NetSuite considers itself the #1 cloud ERP software solution provider.
Companies planning to go public through an IPO at some point choose NetSuite as their ERP.
NetSuite ERP handles growth exceptionally well. NetSuite software provides needed revenue recognition and revenue management in accordance with accounting standards for all industries and SaaS subscription billing and accounting capabilities for SaaS software companies. The NetSuite project management module is strong.
Companies outgrowing QuickBooks move up to NetSuite as their next ERP system when they have enough cash flow or financing to afford its higher cost.
How Much Does NetSuite Cost?
The NetSuite software cost is based on the number of software Suites selected and the number of users. NetSuite pricing is customized quotes. NetSuite is a mid-range to high-end ERP solution with a starting price lower than high-end Oracle ERP and SAP. NetSuite cost includes SaaS software costs, NetSuite training, NetSuite implementation, an upgrade to Premium Customer Support, and third-party add-on software costs.
How Does AP Automation Software Integration Work With NetSuite?
NetSuite integration with AP automation software is by API or flat file connection. Tipalti accounts payable automation software seamlessly integrates with NetSuite ERP using an API connection. Access Tipalti add-on SaaS software SuiteApp through the NetSuite login to streamline accounts payable and payments workflow and save time by up to 80%, starting with self-service supplier onboarding.
What Are The Primary Features and Advantages of NetSuite?
• Comprehensive true cloud solution
• Scalable to meet your company growth needs
• Handles revenue recognition
• Manages subscription billing for users
• Meets public company reporting needs
• Analytics and real-time dashboards
NetSuite OneWorld is for global businesses operating multi-nationally. OneWorld manages multiple subsidiaries and business entities with global legal compliance, multi-currency, and consolidation. According to the NetSuite OneWorld Guide, it’s available upon initial implementation or as a one-time upgrade for existing NetSuite users. Once implemented, OneWorld is irreversible.
Oracle NetSuite provides a high level of overall customer satisfaction and full customer support with an upgrade to Premium SuiteSupport.
How to Implement & Use NetSuite?
Besides using a NetSuite-certified consultant and trainer, resources to implement and learn how to use NetSuite include the online NetSuite Basics guide, NetSuite videos on YouTube, NetSuite Role-Based Demos videos for the Controller, CFO, CIO, Sales Manager, Operations Manager, Support Representative, and Omnichannel. You may be able to use a trial account to learn NetSuite.
Which ERP Systems are Comparable to NetSuite?
Sage Intacct directly competes as an ERP with the NetSuite solution. Sage Intacct is also a true cloud platform. Both ERP systems handle revenue recognition and other accounting standards. They incorporate automation to save users time. Sage Intacct targets companies of all sizes and excels in the lower mid-size company range.
Microsoft Dynamics 365 is the latest Dynamics ERP system offered as Azure cloud and on-premises, with a modern user interface. NetSuite is a true cloud ERP performing as business management software. Dynamics 365 integrates with other Microsoft software, including Power BI, Power Apps for building business applications, and Microsoft Office 365, including Excel.
Microsoft Dynamics GP (Great Plains) and NetSuite both provide business systems as ERP software in a wide range of industries. Both ERP systems have excellent inventory management, distribution, manufacturing, and project management capabilities. NetSuite is true cloud. Microsoft Dynamics GP can be deployed as on-premises and upgraded to private cloud, Azure cloud, and hybrid.
Like NetSuite ERP system, Microsoft Dynamics NAV serves companies in many industries, mostly in the mid-size to large enterprise company range. Both ERP systems have excellent inventory management, distribution, manufacturing, and project management capabilities. Loyal customers in manufacturing and distribution industries like the much older Dynamics NAV software. Microsoft Dynamics NAV deployment options include on-premises, private cloud, and Azure, or a hybrid combination.
Epicor is an older ERP system that excels at manufacturing and distribution and includes more recent IIoT (Internet of Things) technology for the shop floor. Epicor also has customers in lumber and building materials, services, and retail. The Epicor client base is mostly mid-market size.
QuickBooks Online accounting software is a true cloud product with third-party add-ons that competes with NetSuite in the small business and lower annual revenue mid-market company space. Startups use low-cost QuickBooks Online as their first accounting system. For fast-growing companies, it’s a question of when to upgrade from QuickBooks to NetSuite.
Compared to the NetSuite true cloud ERP solution, QuickBooks Desktop is the older on-premises QuickBooks accounting software product line that can be hosted in the cloud. Startups begin using QuickBooks Desktop and graduate with its Enterprise version. QuickBooks is considered an ERP alternative when 3rd-party add-on software apps are used to bridge functionality gaps.
DELMIAworks IQMS is an ERP system for growing small businesses and mid-sized manufacturers with global operations and multiple plants. DELMIAworks handles business processes from accounting to engineering design to manufacturing and inventory control with lot tracking.
Brightpearl is omnichannel software for retailers and wholesalers. Brightpearl integrates with many platforms, including QuickBooks, Xero, Shopify, Big Commerce, Magento, Amazon, Walmart, eBay, and ShipStation.
Orion ERP is from the Indian company, 3iInfotech that serves global companies in over 50 international locations. Orion ERP includes RPA (robotic process automation), IoT, voice-enabled services, and analytics for business intelligence.
E2 ERP software products are E2 Manufacturing System for repetitive and discrete manufacturers and E2 Shop System for job shops, make-to-order manufacturers, job-based, and mixed-mode manufacturers.