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NetSuite ERP Review

NetSuite ERP
Our score: 9.6 User satisfaction: 97%

What is NetSuite ERP?

NetSuite ERP is a scalable cloud ERP platform designed for the needs of fast- growing medium-sized and large enterprises. It automates a range of business processes including inventory management, billing, order management, fixed assets, revenue management, and financial management. In this review, we focus on the accounting features of this software, such as General Ledger, accounts payable, accounts receivable, cash management, fixed asset management and tax management.

NetSuite ERP is utilized by thousands of organizations for their accounting requirements, such as expense management, financial close, auditable and streamlined revenue management, and real-time visibility into the enterprise’s financial performance. The accounting module’s effectiveness is expanded by its seamless integrations with other NetSuite solutions, such as e-commerce, CRM, inventory, and order management tools.

With NetSuite ERP’s revenue recognition management module you can produce timely financial reports and comply with accounting regulations. It permits you to create precise financial statements for both service and product sales transactions occurring across different milestones and at a single point in time.

NetSuite ERP’s general ledger functionality offers a host of benefits including the ability to make smarter decisions by understanding how each day’s numbers stack up. You can find any transaction any time as well as in-depth info on each transaction. This allows you to maintain an accurate general ledger. Finally, the software assures you of precise, real-time financial history and data in the general ledger, which leads to streamlined back-office processes.

Overview of NetSuite ERP Benefits

Accounts Payable

NetSuite allows you to match the three important elements of accounts payable with each other. These three are the receipt, vendor invoice, and purchase order. You can pay your taxes as well as vendors through electronic funds transfer (EFT) from the system. This helps you streamline business workflows and eliminates manual printing and signing of checks.

The benefits of the accounts payable functionality include improved relationships with vendors thanks to timely and efficient payment, and support for EFT. Plus, you can automate payment and check processing resulting in better cash management. On top of that, you can view all costs, revenues, credits, and debits for a specific accounting period to generate accurate profit and loss statements.

Accounts Receivable

You can streamline your company’s accounts receivable to reduce costs and boost efficiency. NetSuite ERP can automate the entire process beginning with the order through to the final accounts receivable. Automating accounts receivable facilitates a host of benefits such as assisting businesses to speed payment, cut expenses, enhance efficiencies, minimize errors, and eliminate redundancies. For this reason, the solution offers a slew of functionalities that simplify functions like billing, collection, and reporting.

With the accounts receivable module, you get great flexibility by being able to create on-the-fly reports as per parameters such as department, class, categorization, date, or others. The best part is you can get paid faster as you’ll be able to generate bills on the day of shipment. The module is customizable as it allows you to set up accounts receivables based on your particular accounting rules.

Financial Planning and Budgeting

To remain competitive, businesses need to plan for success while keeping a close watch on expenses. They should be able to track costs, plan new budgets or even multiple budgets to accommodate various scenarios. NetSuite ERP makes it simple to create and manage budgets. You can reduce effort and time by entering budgets for all of your accounts on a single screen. In case you have complex requirements, you can develop budgets outside the system and import them using CSV file format.

The financial planning and budget module provides a slew of benefits as it enables you to plan for profits using a budgetary roadmap, and also compare the budget with actual expenses. You can also deploy and report on multiple budgets for the same group of criteria. Finally, you can manage a budget for multiple locations, which helps you accurately track numbers across teams, business units, and offices.

Overview of NetSuite ERP Features

Accounting
  • Audit Trail Visibility
  • Order-to-Cash
  • Procure-to-Pay
  • Tax Management
Billing Management and Invoicing
  • Core HRIS
  • Financial Planning
  • Flexible Billing Scheduling
  • Human Capital Management
  • Incentive Compensation Management
  • Integrated Process Workflow
  • NetSuite TribeHR
  • Payroll Services
  • Recurring Revenue Management
  • Revenue Recognition Management
  • Shipping & Fulfillment

Awards & Quality Certificates

This award is given to the best product in our ERP software category. It highlights its superior quality and underlines the fact that it's a leader on the market.
This award is given only to top B2B products and represents the highest possible level of service. It highlights the vendor’s extensive knowledge of the industry they’re selling to and the needs of their customers.
An award given to products our B2B experts find especially valuable for companies
This certificate is granted to products that offer especially good user experience. We evaluate how easy it is to start using the product and how well-designed its interface and features are to facilitate the work process.

NetSuite ERP Position In Our Categories

Because companies have unique business wants, it is only reasonable that they abstain from getting an all-encompassing, “perfect” solution. At any rate, it would be almost impossible to try to discover such a software product even among well-known software systems.
The efficient thing to do should be to shortlist the numerous critical aspects which call for a analysis including essential features, pricing, skill ability of staff members, business size, etc. The second step is, you must conduct the research systematically. Go over some NetSuite ERP evaluations and look into the other software systems in your shortlist more closely. Such all-encompassing product investigation guarantees you weed out unsuitable apps and pay for the system that offers all the function your company requires for success.

Position of NetSuite ERP in our main categories:

TOP 3

NetSuite ERP is one of the top 3 Accounting Software products

If you are interested in NetSuite ERP it could also be a good idea to investigate other subcategories of Accounting Software listed in our database of B2B software reviews.

Every organization has different wants and needs a software that can be customized for their size, type of staff members and buyers, and the particular industry they are in. For these reasons, no platform can offer perfect features off-the-shelf. When you look for a software product, first be sure what you want it for. Read some NetSuite ERP Accounting Software reviews and ask yourself do you want basic features or do you require advanced features? Are there any industry-specific features that you are searching for? Get the answers to these questions to aid your search. There are lots of factors that you need to reflect on and these include your budget, specific business wants, your company size, integration needs etc. Take your time, try out a few free trials, and finally choose the platform that presents all that you require to improve your company competence and productivity.

How Much Does NetSuite ERP Cost?

NetSuite ERP Pricing Plans:

Free Trial

Quote-based Plan

Contact vendor

NetSuite ERP pricing is offered on by quote basis. Please contact the company to get a customized quote for your business needs. NetSuite ERP’s enterprise pricing depends on modules, number of users per month, and add-ons.

User Satisfaction

Positive Social Media Mentions 190
Negative Social Media Mentions 3

We realize that when you make a decision to buy Accounting Software it’s important not only to see how experts evaluate it in their reviews, but also to find out if the real people and companies that buy it are actually satisfied with the product. That’s why we’ve created our behavior-based Customer Satisfaction Algorithm™ that gathers customer reviews, comments and NetSuite ERP reviews across a wide range of social media sites. The data is then presented in an easy to digest form showing how many people had positive and negative experience with NetSuite ERP. With that information at hand you should be equipped to make an informed buying decision that you won’t regret.

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Technical details

Devices Supported

  • Windows
  • Android
  • iPhone/iPad
  • Mac
  • Web-based

Deployment

  • Cloud Hosted
  • Open API

Language Support

  • English
  • Chinese
  • German
  • Japanese
  • Spanish
  • French
  • Russian
  • Italian
  • Dutch
  • Portugese
  • Turkish
  • Swedish

Pricing Model

  • Monthly payment
  • Quote-based

Customer Types

  • Small Business
  • Large Enterprises
  • Medium Business

What Support Does This Vendor Offer?

  • email
  • phone
  • live support
  • training
  • tickets

Popular NetSuite ERP Alternatives

Top Competitors To NetSuite ERP By Price

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What are NetSuite ERP pricing details?

NetSuite ERP Pricing Plans:

Free Trial

Quote-based Plan

Contact vendor

NetSuite ERP pricing is offered on by quote basis. Please contact the company to get a customized quote for your business needs. NetSuite ERP’s enterprise pricing depends on modules, number of users per month, and add-ons.

What integrations are available for NetSuite ERP?

NetSuite ERP provides the below integration options:

  • Can integrate with your existing web and CRM investments
  • NetSuite CRM
  • NetSuite Ecommerce
  • NetSuite Professional Services Automation (PSA)

NetSuite also integrates with leading third-party solutions including:

  • Birst
  • Bronto
  • ClickSoftware
  • com
  • Dell Boomi
  • Epay
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Reviewed By Nestor Gilbert
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