NetSuite ERP

NetSuite ERP Review [What Is NetSuite ERP? 2021]

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NetSuite ERP Review

NetSuite ERP software is one of the best and most flexible systems suitable for businesses of all sizes. Founded in 1998, the company is a pioneer in cloud computing, and more than 18,000 companies across 200 countries use the system, and was purchased by Oracle in 2016. Check the sections below for a thorough NetSuite ERP review and find out why it is marketed as the #1 ERP software!

Onto our NewSuite ERP review!

What Is Netsuite ERP?

What Is NetSuite ERP?

NetSuite ERP software is a complete solution for high growth, mid-sized firms, and international corporations. It combines front and back-office tasks that include financial and revenue management, billing, fixed assets, inventory, and order management, among others.

As a result, it is usefull for the entire company, providing both top management and key clerical staff with valuable information relevant to their role. 

What Does It Do?

Why NetSuite ERP? The company markets its software as the #1 ERP in the world due to the seamless combination between business intelligence and financial management that allows corporations of all sizes to make smart and data-driven decisions.

The platform offers excellent performance, ranging from speeding up order-to-cash tasks to order management and other top-of-the-line management features.

This allows full visibility into the company’s workflows, allowing companies to bring their offerings to the market quickly and efficiently. 

Organizations choose the NetSuite ERP system to manage their inventories, support their e-commerce stores, track key performance indicators, and maintain their CRM (Customer Relationship Management) systems.

As a result, the software is very flexible and suitable for a wide range of business needs, including strengthening competitive advantage and decrease operating costs. 

NetSuite ERP Modules

The modular design of the software helps businesses of all sizes to respond efficiently to the dynamics of the business environment.

Each company can purchase only the modules that are relevant to their strategy, but more can also be added at a later time to address new challenges or needs.

Their modules include:

  • Finance and accounting module allows top management to understand financial performance and forecasts
  • Procurement or purchasing module is the best one in NetSuite ERP for manufacturing because it helps the firm secure the products or materials they require to manufacture goods 
  • Manufacturing module is another part of NetSuite ERP for manufacturing as it helps the firms plan their production processes, ensuring that they have all resources 
  • Inventory management allows for quantity and location tracking using individual SKUs
  • Order management module deals with orders from their receipt to product delivery 
  • Warehouse management is ideal for companies that operate their own storage facilities 
  • Supply chain management tracks everything that goes through the supply chain 
  • Customer Relationship Management is a module that collects all customer information
  • Professional Services Automation is ideal for project planning and management
  • Workforce management is suitable as an HRM module for companies with hourly employees and it also has a payroll sub-module. 
  • Human resources Management collects detailed information regarding each employee 
  • E-Commerce module is suitable for online businesses, suitable for NetSuite ERP for small businesses
  • Marketing Automation manages marketing campaigns across a wide range of channels 
NetSuite ERP Pricing

How Much Does NetSuite ERP Cost?

NetSuite has flexible pricing plans, depending on the needs of the organization. Some of the decisive factors include ERP configuration, users, add-on modules necessary for the business, and the length of the contract. The basic license is $999 per month, while each user added is $99 per month. 

As a consequence, NetSuite ERP has a subscription model that can be renewed each year or more. It is important to contact NetSuite directly to get a personalized quote for each company since the final price depends on the add-ons required, the number of users, and others. 

Netsuite ERP pricing:

  • $999 per month
  • Extra for addons and users

NetSuite ERP Implementation

The implementation stage across the entire business can be anywhere from 2 to 6 months. Once the customer signs the contract with NetSuite, they dispatch a service team led by an Experience Manager.

The team will collaborate with top management to identify the main issues, business objectives, and opportunities around the system setup. This leads to the development of a project road map. 

A great feature is the NetSuite Technical Account Management (TAM). This is a paid premium service that helps users to solve any technical issues both during and after the implementation. 

NetSuite ERP Competitors

Below are some Netsuite ERP competitors you should consider.

NetSuite ERP vs SAP

Unlike NetSuite ERP, SAP still needs to make significant investments to be a serious competitor in the cloud ERP field, and they are still not fully committed to this market.

NetSuite, however, is a leader in cloud-based ERP solutions, so it is extremely challenging to find a more suitable alternative in terms of ecosystem, platform flexibility, and features. 

NetSuite ERP vs Oracle ERP

Oracle ERP Cloud scores high on flexibility when it comes to their abilities, while NetSuite is more constrained due to their SaaS cloud model. However, NetSuite offers the ability to drive repeated business processes, allowing management to make better-informed decisions.

Oracle’s PaaS tools stand out in terms of the integration of third-party systems and numerous apps. 

NetSuite ERP Vs Dynamics 365

Dynamics 365 is great for small businesses that grow quickly, have complex supply chains, and deliver excellent customer support. NetSuite offers the possibility to be flexible in a dynamic business environment. Both solutions are cost-effective in the long term and provide a seamless interface. 

NetSuite ERP Logo

Netsuite ERP Pros and Cons

Below are some of the Netsuite ERP pros and cons you should consider.

Pros

  • Customizable for any type and size of business 
  • Advanced features with numerous integrations
  • Combines financial management with business intelligence 
  • Excellent customer service and user support

Cons

  • Quite expensive, especially for small businesses

Summary

All in all, NetSuite ERP is a complex cloud solution for businesses of all sizes. Although it is on the higher end of the spectrum in terms of price, it is the ideal software that can not only provide current support across all processes but is also flexible enough to grow with the business and adapt to its changing needs and challenges.

NetSuite ERP is undoubtedly the leading innovator in terms of cloud ERP and it provides businesses with invaluable information that helps to automate tasks and make data-driven business decisions. 

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