Oracle NetSuite Review 2023 Sonary Accounting Software

All customers get 24/7 support for the most critical issues, but only those with a higher-level plan can access support for non-critical issues around the clock. When you contact NetSuite for support, your team will work with a responsive, knowledgeable and well-trained customer service professional. See work orders and their status, assemblies to build or order, as well as data trends in leads, opportunities, inventory utilization, service issues, expenses, and much more. It’s all managed with point-and-click content additions and drag-and-drop layout. All your business data — customers, pipelines, orders, revenue to date and forecasts are available at your fingertips. Order management is the critical connection between your front office and back office operations.

To that end, NetSuite offers industry standards-based integration capabilities and optional professional services. Or FedEx and instantly receive back the rate, tracking number, address verification and the ability to print out shipping labels, to be shared among different individuals, teams and customers. You can even improve the accuracy of inventory profitability by associating item costs with related expenses, to calculate complete landed costs, factoring in expenses such as shipping or duty. Bin numbers are editable and you can easily transfer items between bins at the same location without impacting your inventory value or total quantity on hand. And ecommerce for end-to-end business process management across your business.

However, there is no shortage of modules you can choose from to completely customize your experience. These include payroll, HR, performance management SuiteCommerce, demand planning, manufacturing, fixed assets management and contract renewals. The fact that its other modules also tend to be well designed and implemented only strengthens our recommendation of NetSuite as an all-up ERP platform. NetSuite has it all when it comes to accounting and financial management. Inside its platform, you’ll find core accounting functions, billing, global accounting reconciliation & consolidation, financial planning & reporting, revenue recognition management, and GRC features.

The entire data collection process is streamlined because all stakeholders share a single environment. By creating accessibility, finance can engage operational managers and get their input, thus boosting participation and accountability. Using NetSuite solutions, you can streamline a company’s financial transactions, ensure compliance, and speed up the close. It provides real-time insight into any business’s financial performance at all levels, from consolidated figures to individual transactions. NetSuite may not be the best solution for every business, particularly those with a very small company size or on a restricted budget. While they can customize an edition to meet your needs, it might be more efficient and cost-effective for a business of that size to use other solutions.

NetSuite lets you move from manual, paper-based purchasing to lower cost, higher control automated purchasing. NetSuite streamlines purchasing, saving you money that goes straight to your bottom line. Enable sales representatives to turn estimates into orders with just one click, saving time and increasing efficiency. Your Purchasing Manager is automatically presented with a suggested buy report once reorder points have been reached.

Oracle NetSuite ERP Ease of Use Ratings—4.5/5

You can’t maintain sub-ledgers or post accrued expenses in sub-ledger forms, so you’ll need to post in journals.

The company also offers an online knowledge base that is considered to be quite helpful by all accounts. The articles cover specific questions, general product information, and other areas of interest to those who use NetSuite. These features can be purchased a la carte or as part of an “industry suite” package.

What is NetSuite?

An order placed with NetSuite Order Management is automated and managed throughout its life cycle, from when the customer places the order until after the order is delivered. With this solution, accurate record-keeping is assured across order capture, validation, shipping, confirmation, communication, and customer settlement. This system enables organizations to run lean, efficient operations even as they expand because they organize and collect key business information. Financial and operational data with audit trail are accurate and visible in real time with NetSuite ERP’s pre-built synchronization. Get real-time information about transactions, finances, and operations from a single source. The NetSuite premium sandbox is calculated at 20% of the sum total of the NetSuite modules and users purchased.

Focused on financial management, this product is more sophisticated than other accounting platforms. It automates and integrates the processes in a more advanced and in-depth way we’ll see below. Plus, it comes with built-in business intelligence helping you generate actionable business insights in no time. If you have a big product catalog and take phone orders or in store sales, it is a big FAIL.

how to calculate stockholders equity has been a leading brand name in the ERP space for many years. Your business can use it to keep track of your financial data and automate all of your accounting functions. But more importantly, you can use NetSuite’s full ERP solution to manage complex business functions on a global scale.

What do I think about the stability of the solution?

However the individual NetSuite user cost is $99 per user, per month. Oracle stated from the very beginning that NetSuite would be positioned and sold to organizations with less than 1,000 users and that the Oracle Cloud ERP products would be aimed solely at enterprise-sized customers. Are you planning to introduce a project management software solution to your employee? To help you make the right choice, we’ve gathered the best project management web applications.

• NetSuite’s analytics framework is particularly useful for visualizing these types of metrics, as the dashboard shows people and financial analytics side by side and in real-time.
• Our customers definitely have seen a return on investment from the scalability of their system.
• Finally, as a customer relationship management , application because this module is surprisingly robust for an ERP portfolio.
• With NetSuite connecting sales, financial management, and distribution, the order-to-cash process can be accelerated.
• For organizations that require all of these modules, then NetSuite is the right choice.

The company includes the SuiteFlow Workflow Manager specifically for this purpose. This module lets you drag and drop tasks such as entering data and generating reports into a work pane to create a custom flowchart leading a single user or set of users through an entire process. Most of the customers we approach are using lower-tier ERP systems, such as manual Excel sheets or manual processes.

Synopsis of User Ratings and Reviews

NetSuite provides an excellent platform for companies looking to streamline their financial and business operations. I have had a great experience using the platform and it has improved efficiency in our organization. Go for the standard implementation and do not complicate it in the first phase. Have a clear approach to executing the implementation and make sure your team is well equipped and you are ready to implement the application.

Product data management simplifies the process of defining, managing, and maintaining your products. This end-to-end manufacturing software system that runs your business from start to finish will enable you to deliver your products quickly and cost-effectively anywhere. With NetSuite connecting sales, financial management, and distribution, the order-to-cash process can be accelerated.

Finance and Accounting Tools

“Additionally, adding advanced modules such as AI components or customer service modules could help the system become more scalable.” The areas that this product needs to improve on is the implementation and inventory processes. NetSuite ERP requires maintenance, so there’s an administrator who handles that area. The administrator takes care of regular support activities, including user management. Still, from a system management perspective, particularly with upgrades or updates, NetSuite ERP is a cloud product that Oracle takes care of, and you get notifications about any scheduled maintenance. The licensing model for NetSuite ERP is based on the number of modules and users.

That said, there are three main plans that all have their own core functionalities. Recorded customer Web seminars and new feature training sessions keep you well informed on the newest features and best practices. Drill down allows instant access to greater detail and transaction management directly from the Dashboard.

NetSuite ecommerce integrates physical and online commerce and covers all selling and buying needs. With features for global companies, the platform supports multiple brands, currencies, and languages, as well as centralized order management. It also allows you to run B2C and B2B ecommerce from a single hub, improving efficiency. This platform lets you generate invoices, manage expenses, and decrease accounts receivable cycles, improving the productivity and cash flow.

Advanced Multi-location Inventory Module

Several systems were reviewed but in the end Netsuite was the stand out choice, not limited in any area, able to do basically everything we asked of them. As a manufacturer and supplier we needed to assure all areas of the business were met. I’ve researched lots of ERPs and CRMs and inventory stuff and a lot of it is specific to the US.

If you go through NetSuite customer reviews, you’ll see that users consider the high customization capabilities to be the platform’s biggest strength. They also appreciate the easy integration with other systems which saves a lot of manual work, especially in the accounting field. As stated in many NetSuite CRM reviews, this software offers a complete, real-time, 360-degree view of the customers. It is considered a top CRM software choice for companies in need of an integrated platform that will help them run their entire business. A NetSuite vs Salesforce comparison, however, shows that the latter is the better solution for smaller companies that are looking exclusively for CRM software.

But you will have to face it as not everything can be done overnight. In software, we manage it via the project plans, where we have the timesheets managed. We automate the process in that whereby we can generate the invoices from the projects themselves. We have automated the milestones and the time and material billing on NetSuite. 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.

Because NetSuite delivers software as a service, there is no large, up-front license fee. Integration” software — software whose sole purpose is to get other software to talk to each other! In NetSuite the complete, end-to-end business cycle flows automically — from a lead to a prospect to a sale to a shipping ticket an invoice to a customer support case to a marketing campaign. NetSuite’s patent-pending real time dashboard technology provides an easy-to-use view into role-specific business information that is always up-to-date.