NetSuite Review 2023: Features, Pricing & More

This software accelerates your financial close, provides strong expense management, offers streamlined and auditable revenue management and ensures complete real-time visibility into the financial performance of the business. NetSuite OpenAir is a cloud-based professional services automation solution that provides powerful project management, accounting, and timesheet expenses management, resource management, and more. Designed to meet the needs of professional services organizations of all sizes, OpenAir improves invoicing accuracy, increases in-time project delivery and services visibility, and streamlines revenue recognition.

This intuitive financial planning solution promises smart budgeting and forecasting, shorter cycle times, and more engaged business users. You can easily create a roadmap and compare the budget to actual spending, run a budget for multi-location facilities, and set up and report on more than one budget for the same set of criteria. Additionally, the ERP platform supports sleek document management, as well as time and expense tracking.

No business solution would be complete without reporting and analytics, and NetSuite comes in heavy with these features. It offers an entire platform called SuiteAnalytics dedicated to this. Additionally, NetSuite offers partner relationship management and customer service management functionality, among other things.

In https://1investing.in/ition, we were able to integrate it with several tools with no problem. The price can differbased on the number of modules that are needed, revenue, company size, and other factors. Oracle sales reps can provide customized price quotes according to this information. Commission reports can be run, and company owners and managers can easily set multiple price levels and commission plans. Reports – NetSuite ERP provides an impressive assortment of reports.

Pricing

Moreover, they provide sophisticated inventory tracking, warehouse management, cartonization, and cycle counting features. Over 33,000 midsize and high-growth companies, as well as divisions of large enterprises, use NetSuite to run their business. Their customers range from insurance providers to retail restaurant chains to online retailers, demonstrating the flexibility of their solution. NetSuite’s diverse array of customers come from a variety of industries, such as financial services, media/publishing, telecom, nonprofit, manufacturing, retail, wholesale distribution and more. Sneaky contracts that will hook you with discounts and raise fees exorbitantly after your are stuck with your data and huge conversion costs.

Work more effectively by automating core processes and getting real-time insights into operational and financial performance. Building on NetSuite’s core strength in inventory and warehouse management, manufacturers use assembly items to more effectively manage component quantities and multi-level assemblies. Assemblies are closely tied with work orders and allow for multi-level assemblies to be built one level at a time, or all at once. Order management is the critical connection between your front office and back office operations. Automatically adjusts for seasonal trends and ensures stock on hand. Based on sales history and inventory reorder points, reorder levels can be dynamically calculated, based on historical sales or seasonal demand.

Users may need to rely on third-party solutions or customizations to meet their specific needs or requirements. These are one-off services that are fee-based and designed to address specific issues. A portlet is essentially a visual plug-in that you can add and arrange on NetSuite dashboard to highlight specific information.Portlet gives a snapshot of the business, and there are a plethora of portlets options in NetSuite.

“NetSuite CRM Perfect For Entire Customer Lifecycle”

KPIs, with tailorable period comparisons and out-of-tolerance notifications, give you a real-project accounting, at-a-glance view of your company’s performance. Robust Intranet publishing capabilities are also included with specific audience controls that allow content to be tailored to different departments or groups of individuals such as managers versus all employees. Select shipping preferences, validate addresses, and calculate rates and handling fees.

Targeted at growing and midsized companies, as well as large enterprises, NetSuite offers the full functionality of accounting, CRM, HCM, inventory management, reporting and analytics, and more. Its robust functionality and outstanding scalability promise long-term value as your business grows. Still, given the steep learning curve and the fact that it’s not the cheapest of platforms, make sure to check out the NetSuite demo first before you commit to the software.

Many businesses invoice customers for a sale over a range of time, or a contract term. For example, a customer might commit to a one year membership billed monthly, or a three year service contract with quarterly invoices. The software’s project management solution entices collaboration and helps you stay on top of the project status and efficiently resolve potential issues. OneWorld SRP comes with resource management features which help you optimize utilization and staffing, as well as customizable timesheet management for capturing detailed time tracking reports.

Implementation templates and scripted best practices orient project team members to the proven steps and methods used by NetSuite’s own SuiteConsulting team. NetSuite understands that customers may need to integrate NetSuite with other applications. NetSuite can be configured with custom processes, forms, records and fields. One-to-one publishing capabilities allow for personalized and targeted content to be delivered to prospect or customer portals. NetSuite automatically calculates reorder points and preferred stock levels, allowing manufacturers to more accurately determine the proper time and quantity when reordering components based on work orders for those items.

Why We Chose Oracle NetSuite as the Best for ERP Tools

It also provides education services, where users can learn about the software they’re using and get up to speed on any new features or versions of their products. These services come in the form of both documents and online classes. Oracle NetSuite’s platform consists of inventory management, financial management, point-of-sale, CRM, and employee management software. Depending on the specifics of your business – such as the size of your company, its revenue, and the modules you require – the price can vary greatly. If your business plans to expand its borders and go global, you need a financial management solution that helps you manage your international transactions and compliance obligations. Oracle NetSuite’s powerful financial engine gives you maximum transparency and visibility into your business across countries and in real time so you can manage your operations at the local and global levels.

You may want to hire a dedicated NetSuite implementation team to deal with the initial stages of the ERP platform, integrations and project management planning. If you are looking for a comprehensive platform to run your business, NetSuite can be the answer. You get a single system to manage all the finances of your company and monitor its performance.

What Size Companies Use NetSuite?

Warehouses sit at the center of manufacturing and supply chain operations because they hold all of the material used or produced in those processes, from raw materials to finished goods. The purpose of a WMS is to help ensure that goods and materials move through warehouses in the most efficient and cost-effective way. A WMS handles many functions that enable these movements, including inventory tracking, picking, receiving and put away. NetSuite’s financial management capabilities solution helps is used by thousands of organizations across various industries to manage their accounting needs.

His work has appeared on The Huffington Post, CNBC.com, FoxBusiness.com, Live Science, IT Tech News Daily, Tech News Daily, Security News Daily and Laptop Mag. Chad’s first book, How to Start a Home-Based App Development Business, was published in 2014. One unique feature is Oracle NetSuite’s warehouse management and fulfillment module, which helps businesses control inbound logistics, outbound logistics, and warehouse inventory management. Using NetSuite, businesses can generate and send purchase orders to their suppliers. They can also set high-priority tickets to an “expedite” list for faster processing.

Your NetSuite Solution Provider can help you determine whether or not you are a good fit for the SuiteSuccess license and implementation methodology. Generally speaking, clients that have integration needs, require 3rd party offerings or require customizations are not ideally suited for SuiteSuccess, given the limited runway for scope. SuiteSuccess is great for companies with a short go-live window and a limited scope.

It was the first enterprise solution to be offered in the cloud, and it is currently the number 1 cloud business software solution available on the market. The truth is, comprehensive solutions like NetSuite are complex, and this can often be overwhelming for companies when the solution is first implemented. On top of that, its open system includes pre-built integrators and third-party connectors that mean NetSuite can be extended and integrated with other business applications. These can be useful capabilities if you need them, and there can be enormous benefits to putting in the time to learn about what is possible with the solution. But if you don’t need these capabilities, they can weigh down the already labor-intensive implementation process. Considering implementing the Oracle NetSuite ERP system into your organization?

• As part of our analysis, we examined several NetSuite competitors to see how the platform measures up.
• NetSuite ERP is Software as a Service, so it’s completely scalable.
• That said, the CRM functionality is yet another added benefit of its Editors’ Choice-winning GL and ERP SaaS solution.
• Buyers choosing to license NetSuite through VARs are able to access additional service assistance for consulting, implementation, training, and support.
• Over 33,000 midsize and high-growth companies, as well as divisions of large enterprises, use NetSuite to run their business.

After this, the modules are deployed and configured for the customer. There is no need to configure complicated algorithms as everything is already predetermined by Oracle. Once the modules are enabled, custom configurations can then be applied. Technical support is provided by Oracle and can be purchased from a vendor or partner. Additionally, when we sign up for Oracle NetSuite, we receive free credits for online training.

It’s an ideal solution for companies that are planning for growth, offering features that are scalable so you can grow with them. The cost was one of the most recurrent causes of a negative review on this site. Even positive reviewers, like those who love the customizability, commented that making the software fit your company “like a glove” came with a hefty price tag, regardless of company size. Another common theme among the negative reviews was the complaints about training costs—specifically, how expensive it could be to train staff on this fairly complex system.

SuiteTalk gives you the ability to use any programming language or platform that supports the SOAP standard in order to generate NetSuite business objects in that language, such as Microsoft.NET or Java. The goal with this initial phase is to allow your implementation team to become increasingly familiar with you, your business, your current business processes and tools and identify potential gaps in the NetSuite solution. The cost of SuiteCommerce Advanced is based on a monthly subscription fee, with discounts you’ll likely spend between $4-5k/mo . This fee includes access to all of the features and support from the NetSuite customer service team. The cost of SuiteCommerce Standard is based on a monthly subscription fee, once you factor in discounts/promotions you should be spending just less than $2k/month for the subscription.