NetSuite ERP is a cloud-based, developer-hosted, cloud ERP software platform offered on a software-as-a-service (SaaS) basis. NetSuite advertises its ERP solution as “the world’s most deployed cloud ERP” solution. NetSuite ERP is used by over 40,000 organizations in 160+ countries.
NetSuite offers ERP management functionality to support departmental finance, operations, sales, service, and HR needs.
Key benefits of NetSuite ERP include:
Wondering if NetSuite ERP is right for your organization? To better understand if it is a fit for you, explore data detailing the functional requirements, anticipated spending ranges, and company attributes of 50 businesses who recently considered purchasing NetSuite.
NetSuite offers a broad set of functionality including accounting, inventory control, supply chain and warehouse management, production management, order management, procurement, human capital management, and e-commerce. More.
NetSuite costs depend on a number of factors including user count, which modules are licensed, support level selection, contract term, frequency of billing periods, configuration and training requirements, and promotion eligibility.
Based on review data, 66.5% of the organizations who recently considered NetSuite as a potential purchase option indicated that their maximum estimated 3 year investment costs would be in the tens of thousands of dollars.
NetSuite pricing options generally start around $1,000/mo, with additional licensing costs dependent on module selection, support level, and user requirements.
Customized pricing is available upon request and additional cost information can be found below.
NetSuite is licensed as a subscription based, software-as-a-service (SaaS). NetSuite provides licensing options for bundled module editions as well as a la carte licensing of advanced modules, varying levels of user access, and flexible length contract terms.
NetSuite licensing is available directly through NetSuite corporate or via an extensive network of NetSuite VARs. Buyers choosing to license NetSuite through VARs are able to access additional service assistance for consulting, implementation, training, and support.
NetSuite advertises NetSuite ERP as a solution intended for “businesses of all sizes.”
Based on review activity, the majority of organizations considering NetSuite for a purchase come from the SMB sector, with 57% of reviews being conducted by organizations with employee counts between 10 and 99 employees.
As a developer-hosted, SaaS program delivered via browser-based user interface NetSuite ERP provides turnkey cloud functionality.
NetSuite offers three tiers for their standard support offerings (Silver, Gold, Platinum). The support tier service levels vary by the number of support users, access to phone support, phone support hours, and the availability of a dedicated account manager.
Customers seeking additional support services for consulting, implementation, and training can access these services from a broad range of authorized NetSuite solution partners.
A wide variety of 3rd party add-on software is available to extend the functionality of NetSuite. For a list of sample add-on products frequently used to augment NetSuite functionality, see below.
Oracle purchased NetSuite in November of 2016 for $9.3B (USD). Oracle has traditionally sold its financial and ERP applications to large enterprise organizations. The NetSuite acquisition was a key component in a strategic move for Oracle to be able to extend its SaaS offerings and compete more effectively in the SMB market.
NetSuite offers a broad range of ERP functionality including financial management, item management, order management, procurement, project management, ecommerce, and HR processes.
|Accounts Payable||Yes||Approvals management; vendor return authorizations; print, write, and void checks; aging management|
|Accounts Receivable||Yes||Customer credit management; collections reminders & automation; aging reports|
|Equipment Management||No||Developer certified add-ons available|
|Bank Reconciliation||Yes||Automated transaction matching; customizable grouping rules; adjustments|
|Benefits Management||Additional||TribeHR from NetSuite license required|
|Bill of Materials||Yes||Multi-level bill of materials; assemblies; sub-assembly management|
|Billing||Yes||Transaction, subscription, and usage based billing options|
|Budgeting||Yes||Variance reporting; drag-and-drop interface; financial modeling engine|
|Cash Flow Management||Yes||Bank integration|
|Commissions Management||Yes||Design, tracking, and payment control for commission plans|
|Credit Card Processing||Yes||NetSuite SuitePayments offers pre-integration with multiple merchant services gateways|
|Customer Relationship Management||Additional||NetSuite CRM license required|
|eCommerce||Additional||SuiteCommerce license required|
|EDI||No||Developer certified add-ons available|
|Employee Records||Yes||Incentive & compensation management; self-serve employee center portal|
|Estimating||Yes||Loaded cost rate & anticipated time entry for job estimating|
|Field Service Management||No||Developer certified add-ons available|
|Fixed Asset Tracking||Yes||Asset lifecycle management with customizable asset depreciation engine|
|Fund Accounting||Yes||Cost allocations & tracking across line items, grants, funds, programs, & projects|
|Fundraising Management||Yes||Pledge to payment management; online donations; membership billing|
|General Ledger||Yes||Custom transaction types; definable GL segments; multi-entity & multi-currency support|
|Human Resources||Yes||Basic HCM capabilities included; TribeHR from NetSuite available for additional needs|
|Inventory Control||Yes||Preferred stock level management; landed costs support; lot & serial tracking|
|Job Costing||Yes||Revenue, cost, margin reporting; project & task level budgeting|
|Manufacturing Execution System||Yes||Backflush, WIP, & labor capture; production work orders; downtime tracking; quality management|
|Material Requirements Planning||Yes||Real-time scheduling engine: finite & infinite capacity scheduling; demand-driven procurement|
|Payroll||Yes||Payroll disbursements; withholding management; automated tax management & filing|
|Point of Sale||Additional||SuiteCommerce license required|
|Project Management||Additional||NetSuite OpenAir license required|
|Purchasing||Yes||Requisitions support; approval management; configurable procurement dashboard|
|Quotes||Yes||Quote to order conversion; permissions management|
|Recruitment and Talent Management||Additional||TribeHR from NetSuite license required|
|Sales Forecasting||Additional||NetSuite CRM+ license required|
|Sales Order Management||Yes||Gross profit analysis; workflow approvals; quote to order conversion|
|Time Tracking||Yes||User timesheet entry; user/project level approvals definition; billing integration|
|Warehouse Management (Advanced)||Yes||Inbound & outbound logistics management; warehouse space management & wave planning|
|Work Order Management||Yes||Work order travelers; instruction document attachment; assembly builds; inventory commitment|
Organizational users of NetSuite’s cloud-based ERP software span a wide range of industry types including healthcare, manufacturing, professional services, retail, transportation, wholesale distribution, and advertising. It is an especially popular choice in the professional services market, where distributed workforces benefit from the easy anytime, anywhere access provided by the web-based client software.
Pricing for NetSuite varies depending on user count, support expectations, module selections, implementation needs, and a variety of other factors. The following chart provides a breakdown of the estimated maximum three year spending ranges reported by software buyers who recently considered NetSuite as a possible purchase option.
NetSuite is designed for use by organizations of varying company sizes. The median size of organizations who consider NetSuite is 30 employees, based on review activity.
NetSuite offers the ability to extend core system through two main means: customization and integration with 3rd party add-on products. One of the competitive strengths of NetSuite is the set of tools it offers for program customizations. SuiteBuilder, SuiteFlow, SuiteScript, and SuiteCloud provide significant opportunities for customization ranging from point and click configurations to full application creation via a provided development framework.
SuiteTalk provides a web services platform to allow for simplified integration with 3rd party add-ons.
Hundreds of 3rd party add-on programs have been designed with preconfigured integration capabilities in order to connect to NetSuite. The following is a list of some of the most popular options.
|Adaptive Planning||Adaptive Insights||Budgeting, Planning, & Forecasting|
|Adaptive Reporting||Adaptive Insights||Business Intelligence|
|Ascentis HR||Ascentis Software||Human Resources|
|BlackLine Financial Close Suite||BlackLine||Accounting|
|Exactor Suite||Exactor||Sales Tax|
|Host Analytics BPM Suite||Host Analytics||Business Intelligence|
|Paymate Clarity||Paymate Software||Payroll|
|Service Pro||MSI Data||Field Service|
|Valogix Inventory Planner||Valogix||Inventory|
|Vena 5||Vena Solutions||Business Intelligence|
When it comes to accounts payable, the name of the game is matching three essential elements to one another: the purchase order, the vendor invoice and the receipt.
With NetSuite software, companies can do exactly that with ease and speed. Companies can also pay their vendors and taxes via electronic funds transfer (EFT) directly from NetSuite. As a result, they can streamline business processes and eliminate the need to print and sign checks manually.
Streamlining accounts receivable can help distributors boost efficiency and hold down costs. The key? Ensuring the process is automated, starting with the order and ending with accounts receivable.
NetSuite recognizes that automating accounts receivable brings plenty of benefits–helping companies to eliminate redundancies, reduce errors, improve efficiencies, cut costs, and speed payment. That’s why NetSuite offers a host of tools that simplify functions such as reporting, billing and collection.
In the highly competitive world of business, companies must plan for future success while keeping track of costs. They need to be able to monitor costs, set up new budgets, or multiple budgets for different scenarios.
With NetSuite, creating and managing budgets has never been easier. You can enter budgets for all your accounts on one screen, reducing time and labor. Or, if you have more complex needs, you can create budgets outside NetSuite and import them in a CSV file format.
In these years of escalating competition, improving customer support and service has been both a business and technology priority for nearly all companies. And the initiative to provide faster and more efficient customer service is found in companies in all industries and of all sizes.
Yet the imperative for top-notch customer support and service raises important questions: How will your company drive customer service more effectively in the coming years? How will you assign, manage and escalate your cases to serve customers better while also slashing your operational costs? And how will you give everyone that interfaces with the customer–sales, support, service and fulfillment–access to complete, key customer data in real time?
Using NetSuite services, you benefit from the market’s first and only business management application that focuses on improving online customer support and service, attracting new customers and keeping existing ones, and lowering your customer care costs–all of which result in better top and bottom lines.
How do you keep customers and prospects, who aggressively shop and compare multiple vendors for the best price, as your loyal buyers over the long term?
For many companies the answer has been to branch out to the Web. Businesses today want to create a dynamic, rich and powerful Web store that makes online shopping fast, easy and attractive to their customers. Unfortunately, many traditional e-commerce solutions are highly complex to set up, maintain and update. Moreover, if your electronic storefront isn’t sophisticated, you may actually lose–rather than attract–prospective and existing customers.
That’s why NetSuite offers companies a range of ecommerce tools that enable them to sell and market their goods via the Web, while also creating customer-specific promotions and campaigns that boost online sales.
Hectic travel schedules often mean that expense reporting is an afterthought for many sales people. Moreover, employees struggle to generate expense reports on time, and supervisors find it challenging to review and approve them promptly.
NetSuite eliminates the hassle traditionally associated with expense reporting. Now, both on-site and remote workers can file standardized expense reports online, and supervisors can review and approve them in the same way. As a result, you accelerate the expense reporting and payment process throughout your company.
Is your finance organization knee deep in spreadsheets for monitoring and analyzing financial and business performance?
NetSuite delivers built-in, real-time financial dashboards, reporting and analytics that allow you to continually monitor personalized key performance indicators (KPIs) and get access to the latest management and financial reports. Diagnose financial issues on the fly with drill-down visibility to customer, employee or transactional details–and quickly take action to drive business performance.
Are you still using Excel spreadsheets for asset tracking and depreciation? Struggling to track and maintain a record of employee used equipment, or equipment that needs to be insured or regularly maintained?
NetSuite Fixed Asset Management provides you with an easy-to-manage single version of the truth for your assets. It enables you to maintain and control the complete asset lifecycle across depreciating or non-depreciating assets from creation to depreciation, revaluation and disposal. NetSuite Fixed Asset Management supports detailed asset management including maintenance schedules and insurance, while providing tight integration that creates accounting entries and fixed assets from purchases ensuring that no equipment slips through the cracks.
The general ledger is the cornerstone of your company’s financial records. It constitutes your company’s central books, and every transaction flows through it. Moreover, the general ledger documents all financial transactions since your company’s inception.
But the key to maintaining–and wisely leveraging–your general ledger is having complete, drill-down capability in real time. With NetSuite for wholesale distributors, every transaction gets updated instantly. Moreover, you can find each transaction, no matter how far back, with the click of a button.
Streamlining your human resource management processes reduces costs, improves employee satisfaction, and makes employees and managers-as well as your human resources and finance teams-more productive. NetSuite provides an end-to-end solution that offers comprehensive time tracking, incentive compensation, expense reporting and payroll tools, all built into a self-service portal that any employee to access 24x7.
For services companies, service delivery is at the heart of customer relationship management, yet project management has been left out of most CRM vendors’ solutions. Enter NetSuite. NetSuite let’s you track projects and tie this directly to the customer record for real-time visibility.
That’s why NetSuite lets you manage multiple types of projects, including time and materials, fixed price, and cost plus projects-all in real time. NetSuite also organizes your tasks, calls and events, linking them to specific projects and clients. Best of all, NetSuite manages project and client data in one, powerful and fully integrated system.
Making the most of marketing automation means first having the right tools. Only then can you attract and keep more customers; align your marketing and sales processes; manage marketing expenditures; support true one-to-one marketing; and gauge the effectiveness of your campaigns and promotions in real time.
Meeting the needs of growing businesses, NetSuite provides the industry’s first and only marketing automation capability that lets companies build, execute, and measure the success of their marketing campaigns. NetSuite also lets you tailor marketing messages and campaigns much more precisely, leading to greater market share and sharper competitive edge.
Maximizing cash flow is a priority for businesses of every size. But getting it right can be a challenge’you need to eliminate manual bottlenecks and errors while establishing a smooth flow from sales quote to approved order, successful order to fulfillment, and timely invoicing to payment. A best-in-class order management process results in a faster path to recognized revenue, improved operational efficiencies, and higher customer satisfaction and renewals.
NetSuite fast-tracks your order-to-cash process, breaking down departmental barriers and improving customer satisfaction. NetSuite’s order and billing management capabilities integrate your sales, finance and fulfillment teams’improving quote accuracy, eliminating billing errors, strengthening revenue recognition processes and driving fulfillment efficiency. Flexible billing management adapts to your billing needs and market demands, and improves cash flow.
With NetSuite, your business benefits from unparalleled transparency for everyone in your organization, from sales reps and finance managers to fulfillment specialists and executives. Everyone gains role-based real-time visibility into orders and invoice aging, as well as detailed status and history’allowing them to identify bottlenecks, reduce turnaround times and resolve customer queries with unprecedented speed.
For some companies, there’s no substitute for having the control and flexibility of doing payroll in-house. But generating payroll in this way comes with a host of challenges: complying with government regulations; calculating earnings, deductions, and taxes; printing checks; or giving employees the option of direct deposit.
NetSuite’s financial software for wholesale distributors enables you to do payroll in-house easily, quickly and accurately. With NetSuite, you can manage your payroll with complete confidence.
A predictable recurring revenue stream can make or break a company in today’s economy–but to manage it effectively, sales, service and finance must partner closely.
NetSuite’s built-in recurring revenue management capability is the only solution that’s integrated with all of your front- and back-office processes. This means you’ll get a complete, real-time view of your customers and all of their interactions with your company.
So you’ll drive profitability by increasing billing efficiency and bolstering revenue recognition processes. You’ll also improve customer satisfaction --increasing the number of customers who renew, upgrade and buy more services.
Staying on top of revenue recognition is a major challenge, and the rules keep changing’such as with the introduction of the latest EITF 08-01 and 09-03 rules affecting revenue recognition on multi-element sales. But most ERP systems like SAP, Oracle and Microsoft Dynamics GP aren’t up to the task of keeping pace with the changes. This means finance teams often resort to complex spreadsheets that sap finance productivity, harbor substantial risk of error, limit visibility and introduce significant compliance risk.
NetSuite Advanced Revenue Recognition completely automates your revenue recognition processes. It also provides a cloud solution that integrates with existing ERP applications such as Oracle Financials or SAP R/3 to provide automated revenue management. And if you’re already using NetSuite as your ERP solution of choice, NetSuite Advanced Revenue Recognition can be easily added on as a module.
NetSuite Advanced Revenue Recognition provides complete support for all key revenue recognition standards, automates revenue recognition calculation, and delivers dashboards and reporting for continual revenue recognition monitoring.
A highly productive sales force has an enormous impact on your company’s top–and bottom lines. Yet today’s salesperson faces more challenges than ever before–fierce competition, dynamic deals and demanding customers. That’s why better sales force automation (SFA) is critical to your success.
By choosing NetSuite, you can reap the many benefits of online SFA. NetSuite goes beyond simple prospect management offered by other vendors and offers true customer management. With NetSuite’s online sales force automation, you can streamline your sales cycles, drive higher close rates and better serve your customers.
Self-service is a key strategy for businesses that seek strong relationships with their customers. With the ubiquity of the Web, many customers now expect to find online self-service options that let them help themselves to information when they want or need an alternative to conventional service channels. Customers also expect highly personalized applications that let them check the status of orders, place new orders, and research products.
Beyond the obvious benefits of making customers happier, Web self-service can also help wholesale distributors achieve greater efficiency and lower customer-service costs by reducing call-center activity that requires manual handling and routing. Additionally, Web-based self-service takes advantage of a company’s existing data repositories, as well as documentation, such as frequently asked questions (FAQs). And when customer self-service is integrated with other functions and departments, such as billing or shipping, companies can streamline operations and dramatically reduce costs.
Are you facing order fulfillment challenges posed by multiple channels, increasing order volume or mounting shipping costs? NetSuite’s completely integrated shipping and order fulfillment management can streamline your business, improve customer satisfaction and add revenue to your bottom line.
NetSuite is integrated with top shipping carriers, allowing you to manage all of your shipping needs from within NetSuite. You’ll have access to up-to-date shipping rates, increasing efficiency and lowering your fulfillment order processing costs. This shipping carrier integration also automates onerous tasks such as bulk fulfillment and label printing.
NetSuite provides a seamless business process from quote to order processing to fulfillment-with complete centralization of customer, order, invoice and shipping information-helping you dramatically reduce fulfillment errors and eliminate the costs of reconciling shipping information.
NetSuite inventory management software offers a complete set of inventory management, manufacturing, and purchasing capabilities that will provide you with integrated supply chain management and control across your entire organization. NetSuite delivers an end-to-end procure-to-pay process that truly creates competitive advantage.
With NetSuite, you gain an in-depth, real-time view into key supplier, inventory and procurement indicators. Self-service capabilities for partners, vendors and customers allow you to share supply and demand information’improving collaboration throughout the entire supply chain. With NetSuite, you’ll be able to better manage inventory levels and costs’and better meet fulfillment expectations, improving customer service.
Ratio of reviewers by organization size.
Ratio of reviewers by sector.
Netsuite has a pretty solid, versatile, and all-encompassing product
Netsuite is an all in one solution “so it claims”…it’s not actually.
Its good for sales but very behind on many other functions. Looks like its from the dark ages.
Going to try and keep this concise. Poor sales ethic, poor service, lack of emails replied, software is basic in some parts, graphics are poor, the number on their website doesn’t even work. Accounts team are poor, legal are as bad - I would strongly avoid, I wish I had!
We were blown away by the presentation. We cancelled our review of some other options because of how much we liked this option.
This solution has way too much functionality than we need and is far too expensive. We spent $100,000 to get the software and now have to pay $38,000 a year for a system where we don’t even use half the functions
We selected NetSuite ERP. They provided the best solution at the optimal price. Oracle provides grants to nonprofits, so, it reduced our cost by 50%, which fit well into our tight budget.
The cost continues to go up, The solution doesn’t handle our HR or billing needs for being DCAA compliant
I demoed the program and feel it is a great program but quite expensive. It’s cool, easy, and functional. The best feature is the document management, which allows me to save quotes, orders, and customer emails. However, at $1,000 a month, it was a stretch for our budget.
We are a nonprofit and we have been using their for-profit version and not their non profit version, which means that there is a lot of functionality we don’t use. Cloud based is important to our board. Netsuite is setup more for sales than for fund management, and it is not flexible for a CRM and doesn’t allow the diversification required for managing contacts
Bottom line it came down to money. I had to convince myself it would do everything I wanted to do, and it appears it will. We are implementing it next month. Most other solutions have similar features, and other software had features that stood out, but NetSuite has a deal for eligible nonprofits to receive the software at a discounted rate (it cut out the subscription cost and left us with only upfront costs).
Satisfies our needs. Implementation went smoothly. Still learning to use bits and pieces of it but we are happy with it.
Nothing in particular. Works as it is supposed to.
Used Netsuite for about 4 years and moved to a different solution because the user interface and friendliness was old and tired. We negotiated what we felt was a great deal when we initially bought for a multiyear contract. But when renewal time came, our price went up almost 50% on a per user basis overall. Web Site very clunky and not very mobile friendly. Honestly, if you are a smaller business (under 100 employees) be prepared to pay serious annual fees, plus support. Support is bad, and customer service was not good. They know that they have your data and they know that it would take alot for you to move off.
Adding custom fields and manipulating workflows was very easy. In general, customizing the system was very intuitive.
The company themselves. Support was horrible, and when we had to deal with customer service because of 50+% increase over what we originally paid, we were met with fierce resistance.
We are a small non-profit with complicated financials. We purchased NetSuite from a VAR and the implementation took months. The system is complicated for the average user to customize and there is no real support from NetSuite without a service contract $$. I also use NetSuite payroll which actually process through Ceridian’s payroll system. I’ll just say I can’t wait to migrate off of it. Customer service is outsourced over seas and they have no access to your system other than via WebEx remote sessions. Every call takes 20 minutes minimum and you can count on them having to put you on hold while they try to find an answer. Mostly you get the canned script reply. Other than it’s ability to do consolidated financials, I was happier on QuickBooks.
Web based and seamless consolidations.
Payroll system is beyond frustrating. We have five subsidiaries and the system allows you to setup customers with a parent/child relationship. The system to setup vendors is completely different. I was forced to include a subsidiary code within each vendor name which prevents you from going to one place to see what all subsidiaries may owe the same vendor.
ease of use and report capabilities
drop downs could use some stickies of last pick choosen
Purchased NetSuite OneWorld and still in the implementation process.
We were looking for one international solution that would allow our remote offices to transact business in local currency and to allow the corporate office to have “real time” access to the activity of said location. The consolidated reporting is of great interest to us.
No sure yet, have not begun to use the product. It seems great and fully functional for everything we need on paper