NetSuite ERP OverviewUNIXBusinessApplication

NetSuite ERP is the #1 ranked solution in top Billing Software, #2 ranked solution in top Cloud ERP tools, and #6 ranked solution in top Activity Based Costing Software. PeerSpot users give NetSuite ERP an average rating of 7.4 out of 10. NetSuite ERP is most commonly compared to SAP S/4HANA: NetSuite ERP vs SAP S/4HANA. NetSuite ERP is popular among the large enterprise segment, accounting for 56% of users researching this solution on PeerSpot. The top industry researching this solution are professionals from a computer software company, accounting for 24% of all views.
NetSuite ERP Buyer's Guide

Download the NetSuite ERP Buyer's Guide including reviews and more. Updated: November 2022

What is NetSuite ERP?
Global ERP NetSuite OneWorld Allows Companies to Manage Back Office Operations Globally AND Locally. NetSuite OneWorld addresses the complex multi-national and multi-company needs of mid-market organizations. Enable businesses to adjust for currency, taxation and legal compliance differences at the local level, with regional and global business consolidation and roll-up. Get unprecedented visibility of your business worldwide in real time, ensuring consistent, compliant management across the organization, locally and globally. NetSuite OneWorld can populate a single charts-of-accounts across subsidiaries, or use separate charts-of-accounts for each company with postings between subsidiaries such as expense allocation managed via inter-company journals. Local taxes are readily handled across subsidiaries with an embedded tax engine that allows for multiple tax schedules for everything from GST, to VAT, to consumption tax or general sales tax. Revenue recognition, local financial reporting and compliance are also built-in components. And OneWorld allows for global order management and sourcing with the ability to manage inventory and fulfillment across multiple locations with product items represented globally or on a per subsidiary basis.
NetSuite ERP Customers
2Pure, Accuvant, Actian, Adtegrity, Advantage Sign Supply, All-Safe Pool Safety Products, Alton Lane, AMC Liquidators
NetSuite ERP Video

NetSuite ERP Pricing Advice

What users are saying about NetSuite ERP pricing:
  • "When people buy ERP, it's a competitive situation and the pricing is paramount."
  • "Pricing for NetSuite ERP is okay, but it could be better. The licensing model for NetSuite ERP is based on the number of modules and users. The standard license covers up to twenty-five users. If you have more than twenty-five users, you'll have to buy the premium license, which would double the price. For one module with five user licenses, the cost is between $40,000 to $50,000."
  • "It is completely on a subscription basis. We pay yearly and, and you do not have to do anything on a monthly basis. Prices depend on the organization's scale and all those things, but they are doing a good job with the pricing."
  • "NetSuite ERP has a cost per module you want to use, and then you have the license per user."
  • NetSuite ERP Reviews

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    Gene Hammons - PeerSpot reviewer
    Director at ProfitFromERP
    Real User
    Top 5Leaderboard
    Carries a broad range of applications, specifically in the field services area
    Pros and Cons
    • "The most valuable feature is that it works according to how the Internet works."
    • "What needs to be improved is the development in the other areas and other businesses that can use NetSuite."

    What is our primary use case?

    NetSuite ERP has been exploding in all kinds of young and up-and-coming businesses using manufacturing. We pioneered some use in pharmaceutical manufacturing; we've seen it in general business. A lot of our e-commerce companies are using the NetSuite platform — a lot of startups. Five of every eight companies that went out for IPO two years ago were NetSuite customers. It's very big in the startup community in California. A lot of newer tech companies are using it, but a lot of standard older traditional companies have begun using it, too. Over the last year, we've done some furniture distributors, we've done nutraceutical manufacturing, we've done companies that import and build electric scooters and leisure products like bicycles, etc. We've seen it in financial groups, as well.  

    In short, it carries a broad range of applications, specifically in the field services area. We've seen some construction companies move into it. We've got a group that does large AV installations. They will do a theater or an auditorium or a stadium; they handle all of the server-based audio-visual signal processing and large screens and large speaker systems for public consumption, etc. They'll have these million-dollar projects that they put together in their facilities, in a manufacturing type environment test, and then do all of the engineering there, and then they will send crews all over the world to implement these. That's kind of the field service part.

    I worked with some of the largest NetSuite resellers in the world — they're partners of mine. We're affiliated and we use each other's services, but we're not financially tied. We see everything, including startups, that maybe pre-revenue, started to use NetSuite. They know when they go out to raise funds that the investors look at that and say, "Hey, these guys have really got their financial house in order. We feel good trusting you guys". What Oracle does, is they say that, from zero to $250 million a year, we approach them with NetSuite over $250 million a year. We'd like them to be looking at Oracle fusion.

    However, with our partners, we go into $500 million and $700 million companies. We put in NetSuite plus. We may be doing a variety of products in that type of setting, but NetSuite is the core product there, and they're very successful with it. The thing about made-for-cloud software is that NetSuite was released in 1992, and a lot of the development took place in the '92 to '96 era. We were beginning to change the way we did software. This is when iPhone started coming out, etc. The name NetSuite refers to the fact that you have a network suite of products that you can use. There are apps in the NetSuite Suite cloud app store that companies can buy. This is very difficult to explain to new users because using multiple pieces of software has always been a nightmare.

    It's been problematic. You have different products giving you different versions of the truth. You've got problems keeping them tied in together and integrated. You've got different release schedules, you've got customization. It's just been a nightmare and everybody has a bad view of that. What I tell my clients is, "How many of you guys have a phone in your pocket?" I'll say, "Do you like the customizations on your phone?" They'll reply, "What are you talking about? There's no customization on my phone". I'll respond, "Every one of those apps is a customization". They'll fire back, "No, it's not, it's on the phone". That's exactly how NetSuite approaches the suites of products. They open their technology app, they allow outside developers to develop functionality. They test, approve, and do quality control before release. When you buy one of these apps and there's an app for field services that fits in, plus services, it's so different. It's really hard for any product to fit everything in.

    You look at this particular app and if it fits, you licensed the app, and it's just another tab inside your NetSuite system. You can't tell that you're in another product. The screens look the same, the integration is already taken care of on the backend. You don't have to deal with any of that. One time, Adaptive Insights was sold as a NetSuite advanced financials package. People did not know it was not NetSuite advanced financials. All they knew was, that their FPNA reports were on one tab, and their regular basic reports are in another reporting area. That being the case, we have gone into situations where people were (this was before the merger) paying $1,000,000 a year in maintenance charges to a tier-one software group. We were able to duplicate the functionality and improve it in several areas.

    I'm not saying it was as good and in every area, but in several areas, key areas, it worked much better. We were able to implement NetSuite and the apps and the integrations for under $500,000 for the entire new system. That was a net savings of $500,000 a year. It was more modern technology, it was working better for them. Plus, they didn't need a team of three, tier-one experts on staff to manage the system. There were some huge losses there for a large organization. What I'm talking about is one of the more difficult concepts for today's IT groups to understand, because frankly, they've been through nightmares of software modification and customization. It's been a bad idea and it hasn't worked out well, but those were products that were created back in the '80s and the early '90s.

    Those are pre-internet era technologies that were proprietary. ERP vendors used to want to be proprietary because that way, nobody could copy their software. It was considered a security measure against somebody duplicating the discs and reselling them. Today, the Internet is the integration tool that you're using — what could be more open than that? Now, the idea is, let's open this up to everybody. Let's let everybody develop on it. That's, what's made Salesforce so strong, and that's what has made NetSuite so strong. 

    Through all of this, you have to remember that there were no cloud-based ERP systems. Everybody was terrified to put their financial data into this cloud thing everybody was talking about until NetSuite came along. Now, NetSuite has roughly 22,000 companies using it. Every single ERP vendor in the world now has a cloud version to try and compete with NetSuite. The problem is, if I call Salesforce today or NetSuite tomorrow and say, "Hey, I want to license this, here's my credit card". In 20 minutes, if there's a system provision for me ready to use, I'm ready to go. 

    How has it helped my organization?

    We do a very in-depth financial analysis before we let our customers look at software. We had a smallish client-company — a $14 million company. They were looking at NetSuite and a couple of other products. We put together what we call our cost revenue model that shows how they can cut costs and how they can increase revenue using the new software. They were very amazed to learn that we projected that over three years, they'd save or make $7 million. This opened their eyes to the possibility of ERP and things of that sort. They took a look at our findings in our spreadsheets and our models and everything like that and took it all in.

    I circled back three years later to find out if they followed the model. Did they follow our recommendations? Did they achieve the projected savings and see their revenue increase? As a matter of fact, they had not, they did not follow the model. They said, however, that this really opened their eyes regarding how they could use this software and how they could make it pay for itself. In fact, they had doubled the size of the company in three years. They'd gone from a $14 million company to a $30 million company. They were also in negotiations to do a couple of acquisitions in Japan and Australia that would make them a $60 million company the following year. In doubling the size of the company, they had added one new person to the finance office to help with that. Two weeks later, I was in another company that was using QuickBooks and they were about the same complexity and they were a $30 million company.

    They had 13 people in their finance office. I said, "Why are you doing this?". It was because they needed that many people to manage the spreadsheets, to manage and understand where their inventory was, and to understand the operations that were going on out in the field — that type of thing. So, they implemented and they were able to, by attrition, cut down to 10 people in the finance office, and they converted three of them to outside analysts or department managers to go work in other functions like that. That was a big deal.

    We had a charter school that was running off a Sage 300 system. The way they handled purchasing at all of their schools, was the school principal would maintain a spreadsheet and he would fill out purchase orders for things that they needed. Then they would upload the purchase order file to a SharePoint server and at headquarters, an alert would say a new file has been uploaded to SharePoint. One of the accounting clerks would download the file and type it into the Sage 300 system. 

    This created a dual purchasing system, where there was a purchase order number at the school. There was a purchase order number in the Sage system. They had to work around that and they had to reconcile that. We put them into cloud-based software. As we were going through the NetSuite implementation, I said, "Why are you maintaining two purchasing systems?" They said, "Well, we can't afford for every principal to become a user". So, I said, "There is a limited edition user license that allows you to do purchasing and you can buy them in blocks of five, for $99". So, they put all the principals on the system — many of them. They would later become full users because they were able to access data on their school's performance, etc. 

    Within 90 days into implementation, they were rolling out. They had two areas: some international schools and some US schools. As they were rolling out the international schools, 90 days into the implementation, I asked, "How's it going? What's happening?" They said everything was fantastic. They said, "What we used to do, was every time we added a new school, we added a new person in the accounting office". They said, "Now, with the principals putting in all their purchasing information, we have more accountants than we need". They acquired three schools just before going live, and they didn't have to hire three people. I said, "What are you paying those people?". They say, "Well, roughly $60,000 to $65,000 a year". That was $180,000 in savings within the first 90 days of using the product.

    What is most valuable?

    The most valuable feature is that it works according to how the Internet works. Companies are also able to use it for a variety of workflows and to get people that normally weren't involved in financials into using the system to coordinate all areas of the business. I know that sounds like a mouthful, but what we realized with NetSuite is that a lot of times, when we would be in situations where clients are looking at demos, they'll say, "Okay, we want to see how this works, show us a journal entry". Well, the journal entry is very similar to every other traditional ERP journal entry because they're accounting journals. But when it comes down to logging on and seeing the things that I need to take care of today, and when I improve something, it appears on somebody else's desktop. Being able to report, not only on financial matters but on business issues as well, opens up the product to a whole new level of people.

    The statistics that Oracle likes to put out, show that NetSuite companies grow at five times the rate of the S&P 500. This is misleading because the types of companies that are interested in being efficient, moving forward, and being dynamic, are the types of companies that will select NetSuite in the first place. Yes, they have a much higher rate of growth than the average company out there, but I don't know that that's because they're using NetSuite or because that's the kind of company that would be attracted by something like NetSuite. 

    What needs improvement?

    Evan Goldberg, the gentleman that created NetSuite, had worked at Oracle. Larry Ellison, the CEO of Oracle had provided seed money to start out and Larry actually owned a large part of the stock. NetSuite pioneered this whole system and two years ago, Oracle said we want to acquire you guys. Oracle was a little bit late to cloud computing and NetSuite offered them the ability to have a large cloud presence.

    Oracle realized that NetSuite has been a huge success in The United States — it's been wonderful. But Oracle is a worldwide company. So they decided to take their development teams and development budgets and pushed into new countries and created new country versions and multicurrency versions. They also decided to move into new industries. So they started doing lots of development for NetSuite.

    In the two years since Oracle re-acquired NetSuite, they took on Hyperion, which is one of the leading FP&A Solutions in the world. They created a NetSuite version of it. So, what needs to be improved? There's a lot of development in a lot of areas and a lot of markets that haven't been served.

    One of the things that I did, was I had all of my clients going into NetSuite and they were loving it. Still, I also had a lot of pharmaceutical clients, pharmaceutical manufacturers that could not use cloud-based software because it was hard to validate. Not to mention, NetSuite puts out a new version every six months. What we thought were the validation protocols, would not allow us to do that.

    For years and years, Pharma has been version-locked into the old system because they don't want to revalidate. Well, we found a way around that and we started moving into the pharmaceutical industry, aerospace, and defense. The security issues related to national security have stated that we can't use cloud software unless it's encrypted. But now the Department of Defense has started saying, "Hey, NetSuite is. We're not seeing security breaches into the data or anything like that".

    There's a lot of areas like that, that NetSuite has to mature and grow into. What needs to be improved is the development in the other areas and other businesses that can use NetSuite, but it's rapidly coming about. Five years ago, certain companies, like Pharma specifically, would come and tell us they would like to use NetSuite. We'd have to tell them that we don't do that. Please search elsewhere. They would say, "But our CFO used to work in a company that has NetSuite. He thinks he can do it. He wants to do it". By pushing the market like that, NetSuite got into a lot of areas that they wouldn't have broken into previously, but people had used NetSuite before and they loved it. A lot of it's been driven by the market itself and the development is catching up.

    Buyer's Guide
    NetSuite ERP
    November 2022
    Learn what your peers think about NetSuite ERP. Get advice and tips from experienced pros sharing their opinions. Updated: November 2022.
    655,711 professionals have used our research since 2012.

    For how long have I used the solution?

    I have been working in ERP since 1995. We saw NetSuite come on the scene around 2002. We did not see our clients adopting cloud-based software until after Salesforce was predominant around 2009 to 2010. We really saw the product begin to be used by many of our clients around 2014. Now, pretty much all we do is cloud-based software or ERP. We focus on the made-for-cloud products, but NetSuite accounts for probably 50% to 60% of those deals.

    What do I think about the stability of the solution?

    The growth is phenomenal. Pre-pandemic, they were advertising that they had 18,000 companies using it. The latest figure I saw was 22,000. They had a down year comparatively last year because NetSuite has been growing year over year at a rate of 30%. When I say a down year, that means I think they'd only grown by roughly 14%. So, the stability is there. The product is such a category killer. I mean, Oracle paid 9 billion to re-acquire NetSuite and one of its close competitors, Sage Intacct. Sage spent 700 million to acquire that company.

    With Oracle standing behind it, it's very, very strong financially with the user groups — the user base that's now using it. It's very strong. One of the things that we're dealing with right now is that we get calls like, "I'm a new CFO at a company and I've used NetSuite before. I already know how to use it, just turn it on and let me use it".

    There's more to the setup than that. It's not that quick. It's not that instant. You have to sit down and go over it with these guys and say, "Look, here's what went into using that system that you liked and you loved. There was a lot more behind the scenes that you didn't see in the last place you worked". Still, people move around from job to job and they remember how well NetSuite worked in a previous situation and that's what they want to go with in the future. I think that says more about it than anything else.

    I believe in the forward-moving state of it. I worked in ERP for 20 some odd years. I've worked with Sage, Microsoft, Lawson, Infor, and Loharts, and many other companies — they're good products. Companies can be very successful using those products but it's just old-school technology. 

    I was always waiting for somebody to come out with ERP 2.0. I don't know if NetSuite is fully an ERP 2.0, but I do know that they've come closer to it than anybody else has. Everybody's trying to reach this level — it's just very stalled. People want cloud software, but the fact that it's on the cloud doesn't mean anything. What matters is, was this developed in 1995, or was it developed back in 1982 in a DOS version, which we then ported to a Windows version, which we then ported to a client-server version, which we then ported to another version? Now, we've taken this whole spaghetti mess of code and thrown it up onto the cloud.

    So many of these products, you look at them and they look like windows XP. People are no longer willing to use a system that has such old clunky technology because they're used to everything else in their life working easily on their computer and having it integrated. They're used to the iPhone being able to do things that it was never designed to do because it's got an app on it. It's just so much different. So, will NetSuite have actual competitors? I think there will be companies that do develop new technology and stuff like that. It takes years to catch up in the ERP world, but there will be people that do modern development and that will eventually emerge as competitors to NetSuite. Intacct and Acumatica are two of the ones that are closer than anybody else, and those are good products. We'll use those guys in a lot of different ways. A lot of our clients like those.

    What do I think about the scalability of the solution?

    There are situations where a company will move out of NetSuite into tier-one when they're a $2 billion company or something. The fact that you can afford tier-one products at $2 billion is a completely different situation than trying to afford that when you're a $400 million symphony. The product scales well into hundreds of users. There are situations where you're going to find you need this tier-one customization, etc. Still, that's not for years and by that time, you'll be able to afford that. 

    How are customer service and support?

    One of the things I like is that when I get a new client, there are so many videos and training opportunities. I try to have my clients trained before the consultants show up. I like the way that they support that. Some people like the direct implementation teams. Some are really good, some are average. We really focus on getting the right implementation partner for our clients; somebody that has industry-specific, experience. But that aside, the support is really good. It's 24/7 and people like that. We don't hear our clients complaining about that.

    Which solution did I use previously and why did I switch?

    There are thousands of differences between NetSuite and other ERP solutions. With NetSuite, anytime you see a page of data, you can export it to Excel. Not only can you export it to Excel, but what comes across are the values and the formulas. If you have a column that's adding up for example, what you sold the product for minus the cost of goods sold, this equals your net value. What you get in the spreadsheet is that same formula referring to those same figures right there and it's a huge time saver for people.

    Now, traditional ERP has gotten better at some of their tables; you're now able to export to Excel with some of them. But when you come across it, it's just a flat value and things like that. These accountants that work in spreadsheets all day long love this. You can change your spreadsheet and you can create it so it uploads into NetSuite and you can have a spreadsheet-type system that feeds in and puts data into your system, as well as taking it out. That's a huge difference.

    There are things like being able to create very simple screens, being able to have a customer. We're sharing a warehouse with one of our providers or we've got a product at a co-packer or someplace where we're taking our product for labeling and putting it in cases — we put them on the NetSuite system. They only see the things that they need to see. But now I know when my partner is running out of labels to put on my bottles and I can put that information into my MRP and I can have a purchase order and drop-ship to them in time for them to have labels for the next manufacturing run.

    All of these things tie in together in customer portals. It's great to be able to call a company and try to get somebody on the phone, but if I can look up which invoices I've paid for and understand which ones they've applied it to and everything like that, I'm so much closer to the answer than if I am trying to get somebody on the phone. That's just another way customer service improves everything — when I can give you a portal of exactly what's going on between the two of us.

    Those are the kinds of things that really seem to help. Most companies have never had that capability. They've never used it, they don't understand that this is great. Instead of having 50 people call me on the phone today, now I've got three phone calls. How much more work am I going to get done all day? My customers are much happier now. They like working with me because they can find this out rather than buying that from somebody else. Again, I'm sticking with these guys. They're so easy to use.

    What about the implementation team?

    When you contact a traditional ERP provider it takes them weeks and weeks to configure. We used to buy servers and have them sent to the ERP companies so that they could configure the servers. Then they would ship the servers to the client. This would take weeks. An ERP implementation would take nine months to a year. NetSuite is ready to go tomorrow and you can go through the configuration with your consultants and have it up and running in 90 days.

    It's so much easier than it used to be; however, now you turn around and you look at Microsoft's Business Central. They've come out with a cloud version and NetSuite sells for so much less because you don't have a nine-month implementation process. Those implementations, the consultants are now charging $225 to $300 an hour for nine months. So Microsoft comes out with Business Central which they say is cloud-based.

    They've only taken the old software and thrown it up onto the cloud. So you still need a nine-month implementation to be able to use Microsoft Business Central. You've still got that huge cost involved with it, and you still have that huge timeframe involved with it. NetSuite started this whole thing but they're doing it differently. You've got all these imitators, but they cannot quite keep up with what they're doing.

    We're just scratching the surface of understanding the difference with this approach. We've got so many clients and so many companies that have moved on to this. Yes, we invite the other ERP companies to show their software, but when people get down to it, NetSuite wins nine out of 10 times against traditional software.

    What's my experience with pricing, setup cost, and licensing?

    NetSuite has developed new approaches to the market in the last few years. When people buy ERP, it's a competitive situation and the pricing is paramount. People don't want to spend a lot of money upfront on that type of thing — as if we blame them. What NetSuite has gone to, is something called the finances first approach. It says, let's come in. Let's have a small footprint in the organization. We can get a company up and running on the core financials and use it in the business office for about $50,000, which compared to a lot of ERP systems, is very low cost. 

    From there, we start to stair-step the project up to increase the functionality that they're using and increase departments that are on the system. What happens is, when people start using the system, they start understanding the system. They began to learn how to roll out these other functions with their own internal people.

    They learn to adopt the tool, they understand how it works. Now, you're not saying, "We need this new $30,000 module. It's going to be $100,000 in consulting hours to implement it". It's more like, "We need this $30,000 module, and we may spend $10,000 on outside consultants to help us do it ourselves". That type of thing. There are two things that happen. One, you get instant success because you've got the system up and running and people are beginning to adopt it. They like it, it's successful, it's a valuable tool. That's the first win. The second win is if you get to grow the system. Now that you're using it, you understand it. This is how it's going to be easier for these people to do their jobs. This is how we can put efficiency into our inventory area, or we can put efficiency into our supply chain group, or we can help out our field service reps with information on an iPad.

    This is how we're going to do that — it helps people. Instead of this instant digital transformation, it's this continual rollout of better and better technology. When they see the results that a client likes, the service levels better, it makes a lot more sense. It's so much easier than this big, huge two-year implementation that some of these software providers come at the client with.

    That's a hard decision for any company to make. "We're going to be doing this, and we're not totally sure that it's going to work for us. But what if our people don't like using it; aren't there are a lot of things that could go wrong?" Then they just sit there with paralysis by analysis. When they can sit there and say, "Okay, we can start this, this NetSuite rollout. We can get the accounting office on it. We'll be up and running in 90 days, we're going to have better reports. We're going to have better financials. We're going to have all this stuff, we're going to have all these instant wins. How do we get 10% more out of the sales this year? How do we get drive costs down next year?" You've got all of these projects that you can expand your company on moving forward. 

    What other advice do I have?

    Our number one piece of advice is to understand the business case and to understand what you're looking at. If you're looking at putting in an updated ERP system — that's good, that's new software. Everybody likes new technology. That's great. If you're looking at saving $7 million over three years, that's a completely different project. Now, if we know that this is what's possible, and we can see that we're going to get there, what makes up that $7 million? It's $30,000 in savings in this department, $70,000 in that department, all of that. If we, understand that on a deep level, we've got people, we can get them to buy-in. We don't want you to just look at this project because it's an extra work thing. We're going after a $7 million goal, we need you, we need your talent on this project.

    It changes everything. That's the most important thing. You need to understand how the technology is going to save you or make you more money. That is when you can put the right amount of resources into the right parts of the product. If you're going after inventory savings, how are we going to use NetSuite to do this? What other products are out there that tie into NetSuite that are going to help us? We spent another $50,000 on scan guns to make it that much quicker, that whole business case answers all of those questions. That's always our first step — to understand that. That will tell you that, yes, NetSuite is the right product for me. Or, maybe we need to go after something else that does warehousing a little bit better than NetSuite.

    Understand, everybody has capabilities, but certain businesses, their idea of warehousing is similar to Super Store Industries — they used to work there. These guys had 200 trucks coming in and out of a California warehouse every day. That's different than four shipments that add my five-day loading dock. Warehousing to them means a whole different thing. We need to understand that on a level of what exactly are we talking about here? How much are we spending the way we're doing it now? And what's it going to save us when we get it done?

    Overall, on a scale from one to ten, I would give NetSuite a rating of eight — there is a reason why they're doing so well.

    Disclosure: My company has a business relationship with this vendor other than being a customer: Independent Consultant
    PeerSpot user
    GirirajInja - PeerSpot reviewer
    Head of IT operations at Karma tecnology
    Real User
    Top 5Leaderboard
    Has a user-friendly interface, good reporting, and it allows dashboard customization, but it lacks the functionality to maintain sub-ledgers, and its pricing could be better
    Pros and Cons
    • "As NetSuite ERP is a cloud product, a valuable feature I found in it is the very friendly user interface. You can set up shortcuts within the applications for frequently used reports or navigation. You can also customize dashboards in NetSuite ERP. Another feature I found valuable in the solution is good reporting. It has many industry-standard reports focused on finance and inventory. I also like the seamless switching between production and test environments and that you can customize the environments within NetSuite ERP. For example, you can put banners on your test and production environments to differentiate or segregate the logins to prevent mistakes. The solution is pretty easy to use and navigate, and it's more of a lightweight software. I like that it's a cloud product, so work is done on the front end rather than the back end. There's also a community for NetSuite ERP where you can raise your queries and issues. You'll find other people sharing experiences about common issues so you can get quick fixes from the community."
    • "An area for improvement in NetSuite ERP is its accounting functionality because it has certain limitations. You can't maintain sub-ledgers or post accrued expenses in sub-ledger forms, so you'll need to post in journals. The pricing is another area that can be improved in NetSuite ERP because the pricing was lower when it wasn't part of Oracle, but after Oracle acquired Netsuite and NetSuite ERP was offered as a cloud service, the price went up."

    What is our primary use case?

    Our primary use case for NetSuite ERP is finance. We're also using the procurement module and other modules, but we're mainly using the solution for finance.

    What is most valuable?

    As NetSuite ERP is a cloud product, a valuable feature I found in it is the very friendly user interface. You can set up shortcuts within the applications for frequently used reports or navigation. You can also customize dashboards in NetSuite ERP.

    Another feature I found valuable in the solution is good reporting. It has many industry-standard reports focused on finance and inventory.

    I also like the seamless switching between production and test environments and that you can customize the environments within NetSuite ERP. For example, you can put banners on your test and production environments to differentiate or segregate the logins to prevent mistakes. The solution is pretty easy to use and navigate, and it's more of a lightweight software. I like that it's a cloud product, so work is done on the front end rather than the back end.

    There's also a community for NetSuite ERP where you can raise your queries and issues. You'll find other people sharing experiences about common issues so you can get quick fixes from the community.

    You also have the option to raise tickets with the NetSuite ERP support team. You don't need to log into a separate support portal to raise a ticket. From your NetSuite login ID, you can navigate to Support and submit a ticket, making it more convenient for the end user than having a different login for the support portal. The support portal is integrated with the application, so you can directly go to the support tab and raise tickets for any issues. I find this another valuable feature in NetSuite ERP.

    The solution supports many integrations with other applications through CSVs, REST APIs, and SOAP APIs. I like that NetSuite ERP is flexible in terms of integration with third-party applications.

    NetSuite ERP has many blog content, and other content you can learn from that can tell you more about the solution, so this is another valuable feature.

    What needs improvement?

    An area for improvement in NetSuite ERP is its accounting functionality because it has certain limitations. You can't maintain sub-ledgers or post accrued expenses in sub-ledger forms, so you'll need to post in journals.

    The pricing is another area that can be improved in NetSuite ERP because the pricing was lower when it wasn't part of Oracle, but after Oracle acquired Netsuite and NetSuite ERP was offered as a cloud service, the price went up.

    I'd like to see a new feature in the next version of NetSuite ERP: scripting, so you can develop and add your modules to the solution. For example, you want to add a new project accounting module to NetSuite ERP. Still, that module should be yours, meaning that Oracle shouldn't have any rights to it, and you should be able to use that module on NetSuite ERP entirely or even sell it to other vendors. It's just Oracle or Netsuite serving as a host where you can showcase the additional modules or functionalities you've developed.

    For how long have I used the solution?

    I've been working with NetSuite ERP for about three years.

    What do I think about the stability of the solution?

    NetSuite ERP is a stable product, and my team didn't encounter bugs, performance, or connectivity issues with it. NetSuite ERP is a reliable solution.

    What do I think about the scalability of the solution?

    NetSuite ERP is a completely scalable solution. You just need to speak to Oracle and ask for whatever upgrade you require. NetSuite ERP is Software as a Service, so it's completely scalable.

    How are customer service and support?

    My personal experience with NetSuite ERP support has been very good, so I'm rating support an eight out of ten.

    How would you rate customer service and support?

    Positive

    Which solution did I use previously and why did I switch?

    I've worked on Oracle EBS and Oracle IFS apart from NetSuite ERP, and the solution being used depends on the organization. The organization currently using NetSuite ERP isn't that big, so it couldn't afford Oracle EBS, which is slightly expensive compared to NetSuite ERP.

    That organization also found NetSuite ERP user-friendly as a cloud solution, plus Oracle takes care of the server maintenance and other updates, so the solution is less of a headache.

    How was the initial setup?

    For one entity, on average, the deployment of NetSuite ERP takes one and a half months to two months, including the UAT and production.

    What about the implementation team?

    An Oracle team implemented NetSuite ERP for my company.

    What's my experience with pricing, setup cost, and licensing?

    Pricing for NetSuite ERP is okay, but it could be better.

    The licensing model for NetSuite ERP is based on the number of modules and users. The standard license covers up to twenty-five users. If you have more than twenty-five users, you'll have to buy the premium license, which would double the price.

    For one module with five user licenses, the cost is between $40,000 to $50,000.

    What other advice do I have?

    I'm a customer of NetSuite ERP.

    As NetSuite ERP is cloud-based and a SaaS, I'm not sure about the version, but it's the latest one.

    NetSuite ERP is now an Oracle product because Oracle has acquired NetSuite, and the solution is aimed at small and medium-scale enterprises.

    My company implements NetSuite ERP for multiple entities, so on average, fifty people use the solution, particularly accountants, senior accountants, chief financial officers, etc.

    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.

    My advice to others planning to use NetSuite ERP is that it would still depend on the organization you're working for, whether it's a small-scale, medium-scale, or large-scale organization. I'd recommend the solution for small and medium-scale organizations. You also need to consider your budget. NetSuite ERP is also more user-friendly, requiring less training for the end user, rather than you having a headache training end users in the day-to-day operational activities.

    I'd rate NetSuite ERP as seven out of ten.

    Which deployment model are you using for this solution?

    Public Cloud
    Disclosure: I am a real user, and this review is based on my own experience and opinions.
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    November 2022
    Learn what your peers think about NetSuite ERP. Get advice and tips from experienced pros sharing their opinions. Updated: November 2022.
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    SudhakarJha - PeerSpot reviewer
    Enterprise Architect at Nsight inc
    Real User
    Top 5Leaderboard
    Easy to use, good value for money, and lots of customization
    Pros and Cons
    • "We can install the bundles based on our needs."
    • "If they could provide more integration options to connect with different products, that would be ideal."

    What is our primary use case?

    The NetSuite which we are using is mostly for our financial processes, mostly OTC or maintenance, the creation of reports, getting dashboards, tracking the payments or cancellations, et cetera. All this is something for which we are using this solution. At the same time, we are using the SuiteAnalytics feature where we can create our custom reports as well for NetSuite.

    What is most valuable?

    First of all, it's really easy to use. It has great functionality and is perfect mostly for a company where they're in the initial stage or even the middle stage of its own development. If they want to quickly start with an ERP system that is ready to use, it's really helpful. 

    It's good value for money as well. We can install the bundles based on our needs. 

    At the same time, the team has a good support system, in case we run into any issues and they do provide a lot of configurations and customization options. If something is not working out, we can customize that as well. 

    One more very good point which I have seen while using NetSuite is, that they provide all the leading processes already in-built, whether it's the OTC or P2P, or test to order. All those configurations are already ready to use. We just have to put our data and we can start running those. Unlike others, you don't have to customize.

    What needs improvement?

    If they could provide more integration options to connect with different products, that would be ideal. Although they provide a lot of functionality within NetSuite, if something is very complex in nature, for example, if you are a manufacturing company, if you're using it for manufacturing, there may be an MRP where we have to do position planning, those advanced features are not available in NetSuite.

    From a user spec perspective, there is definitely a lot of scope for UI and UX enhancement. I would expect some screens to be more user-friendly and from the configuration side, so everything in the NetSuite world works on the bundle. If they can provide any mechanism where we can quickly group the bundles based on the need or the process, then that will be helpful. The current process is very time-consuming. We have to do it one by one. 

    For how long have I used the solution?

    We've used the solution for the last three years. 

    What do I think about the stability of the solution?

    The solution is stable. There are no latency issues. It's highly available. I've never seen a system going down.

    What do I think about the scalability of the solution?

    Its scalability is good. 

    This whole platform is designed in such a way that they do have a user-based billing model, however, system by system is robust. If somebody, some company, is using that at their initial stage and they're growing, so it will not provide any technical issues as such, in terms of systems slowness or things like that. However, if a company's business is getting complex, if there are a lot of new workflows being added, then NetSuite might not be the right choice for them. Scalability-wise, we can scale. In terms of the volume of users, there is no system impact in NetSuite.

    We have our clients which are using it. From our company side, as a part of our team, there are four to five people who are using it. I'd rate the solution four out of five in terms of scalability.

    How are customer service and support?

    They have pretty good support.

    How would you rate customer service and support?

    Positive

    Which solution did I use previously and why did I switch?

    We chose this solution as it's SaaS-based, so there was no headache on the infrastructure, support, or maintenance side. That is been taken care of by the Oracle vendor itself. Secondly, it's very robust and fully customizable. We can customize it as per our needs. That was the one consideration. There is already a process set up for multiple currencies, and locations. They provide leading practices - all the standard practices with respect to the business, whether it's a B2B, or order to cash, everything is available. It's not taking up a lot of time for the initial setup. There are no extensive configurations or implementation work involved.

    How was the initial setup?

    It's a SaaS product, so we don't have to deploy it to any product here. It's something that is managed by the company itself.

    It took some time to spin up, however, it was, I would say, easy to medium complexity. Out of five, it was like a 3.5 in terms of ease of setup.

    What was our ROI?

    The solution offers very good value for money.

    What's my experience with pricing, setup cost, and licensing?

    While I was a part of the discussion, I cannot recall how much the solution costs. 

    What other advice do I have?

    We are a partner for NetSuite. We have our own NetSuite license also.

    It's a SaaS solution. It's auto-upgrading. There's no specific version number that I can recollect.

    If a business or company is not fully grown, then it definitely can start with NetSuite. It's really very user-friendly. It provides all the basic functionality. If some company who already have a very large presence, in terms of employees or in terms of their products, and they are fully matured, they have a lot of different complex processes in their business, then NetSuite might not be the right choice for that stage of the business.

    I would rate the solution eight out of ten as definitely there is a scope for improvement.  However, from what we observed so far, it's helping us with all the requirements as per our company size. 

    Which deployment model are you using for this solution?

    Public Cloud

    If public cloud, private cloud, or hybrid cloud, which cloud provider do you use?

    Other
    Disclosure: My company has a business relationship with this vendor other than being a customer: partner
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    Founder & CEO at a tech services company with 51-200 employees
    Real User
    Top 10
    A stable ERP solution with a useful project management feature
    Pros and Cons
    • "The project management aspect and the timesheets are valuable, especially for ensuring that our milestone billings are automated properly. From a manufacturing perspective, it is more to do with the entire management of the inventory, the overall finance, consolidation of books of accounts, and managing the profit and loss in a more effective manner."
    • "There is a lot of room for improvement. Multiple manufacturing features need to be updated on NetSuite. More functionalities need to be added. I think there are a lot of functionalities coming out for warehouse management systems and manufacturing automation via advanced manufacturing functionalities. I think they need to improve a little more on those aspects and make it easier on the scheduling aspect."

    What is our primary use case?

    We have different verticals of business like manufacturing plants, software consulting, and development. We use both aspects of the things in one module of NetSuite, where we manage multiple subsidies. For manufacturing, we use work orders. We will use working process modules, and we automate the entire process of a production plan in that. Then we schedule those and have those things executed for our fulfillment and invoice the end customers.

    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.

    What is most valuable?

    The project management aspect and the timesheets are valuable, especially for ensuring that our milestone billings are automated properly. From a manufacturing perspective, it is more to do with the entire management of the inventory, the overall finance, consolidation of books of accounts, and managing the profit and loss in a more effective manner.

    What needs improvement?

    There is a lot of room for improvement. Multiple manufacturing features need to be updated on NetSuite. More functionalities need to be added. I think there are a lot of functionalities coming out for warehouse management systems and manufacturing automation via advanced manufacturing functionalities. I think they need to improve a little more on those aspects and make it easier on the scheduling aspect. 

    In the next release, I would like to see more planning functionalities for manufacturing. I think there are already a few planning functionalities coming out, but more is expected from NetSuite.

    For how long have I used the solution?

    I have been using NetSuite ERP for six years.

    What do I think about the stability of the solution?

    I would say that it is definitely stable. In today's market scenario, stability-wise, if you see from the day they got into the market in 1998, they have been only improvising on the product or the product outputs, the upgrades and everything. It has been a smoother transformation, and they have a logical system where libraries are maintained properly. 

    The customer challenges are taken care of, and they can execute those things in a more automated manner. Whenever the version upgrades happen, those are seamless. We do not need to break our heads for those customization challenges and all that stuff.

    What do I think about the scalability of the solution?

    It is scalable. Right now, we have 15 users, but I think we are going to increase it because we were limiting it. Since we have automated the manufacturing inside NetSuite, we will probably be going up to 30 or 35 users.

    How are customer service and technical support?

    Since we are also channel partners, we have the technical resources and the team. We manage that. Since we also have premium support, their availability for support is quite good. At times, certain functionalities have challenges, and they say, "no, this is a change that is going to come later," or something like that. But you will have to face it as not everything can be done overnight.

    How was the initial setup?

    The initial setup is always very important. It is not as complicated as a few other applications, and it was easier to execute it. The complexity comes when multiple processes and multiple workflows need to be created for the automation to come in. To kickstart it quickly, it is much easier compared to other competitor products in the market.

    What's my experience with pricing, setup cost, and licensing?

    It is completely on a subscription basis. We pay yearly and, and you do not have to do anything on a monthly basis. Prices depend on the organization's scale and all those things, but they are doing a good job with the pricing.

    What other advice do I have?

    I would recommend only one thing to new users. 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. It will be quick from there if it is plain vanilla finance to start with and then add manufacturing and other things. You should be able to go live in 60 to 100 working days.

    On a scale from one to ten, I would give NetSuite ERP an eight.

    Which deployment model are you using for this solution?

    Public Cloud
    Disclosure: My company has a business relationship with this vendor other than being a customer: Partner
    PeerSpot user
    Antonio Lira - PeerSpot reviewer
    Territory Manager LATAM at LeaseWeb
    Real User
    Top 5Leaderboard
    Intuitive and easy to use with a straightforward setup
    Pros and Cons
    • "It's integrated into everything well so you can navigate and use it in a very simple way."
    • "If you do go through an implementor, you need to be careful that they are actual implementors and not just resellers."

    What is most valuable?

    I became a real fan of NetSuite due to the fact that it's very easy to use and it's very easy to configure from the implementer side. When you're looking for an ERP solution, often it can be very difficult to configure and difficult to use, however, this is very easy. I'm pretty impressed. It sounds like a short or a small solution, and yet it's not.

    The whole experience it's very easy. It's very intuitive. It's integrated into everything well so you can navigate and use it in a very simple way. The whole experience for the ERP is very fine. This ERP has no interface. It's completely integrated so you don't have to run any process from accounting to get all the numbers. Everything is detected online instantly.

    The initial setup is straightforward. 

    What needs improvement?

    Most of the features that my customers deal with I get access to. I can't recall coming across any missing features. We haven't come across areas that are hard to understand or configure. It's all pretty straightforward. 

    If you do go through an implementor, you need to be careful that they are actual implementors and not just resellers.

    What do I think about the stability of the solution?

    The stability of the solution is very good. There are no bugs or glitches that we've dealt with. it doesn't crash or freeze.

    What do I think about the scalability of the solution?

    The solution is very scalable. It's not an issue to expand it.

    How are customer service and technical support?

    The technical support is very good. We've been very happy with the level of support we get. They are helpful and responsive. 

    How was the initial setup?

    The initial setup is not overly complex or difficult. It's simple and straightforward. 

    What other advice do I have?

    You have to be aware of the experience of the implementer before the initial setup even if it seems like it's easy to implement. There are some skills and there are very, very many new resellers that they are naming themselves implementers. My only advice is to be aware of the experience of the previous implementation on the NetSuite platform and be aware if these implementers also sell other solutions. I deal with some implementers that sell SAP as well and they sell Microsoft as well and these kinds of platforms need their own people due to the fact that it's not fixed. 

    I'd rate the solution at a ten out of ten.

    Disclosure: My company has a business relationship with this vendor other than being a customer: Implementer
    PeerSpot user
    Customer Solution Executive at a tech services company with 51-200 employees
    Reseller
    Top 5Leaderboard
    Highly scalable, robust, and straightforward implementation
    Pros and Cons
    • "The most valuable aspect of NetSuite ERP is the multi-subsidiary portion, it is the strongest across all the other ERPs. If you want to do consolidations, it works a lot better than other tools."
    • "NetSuite ERP's UI could be improved. There are some features that are very complex that do not have to be. There are some aspects of the solution that could be simplified and this can include the documentation. Since it's a very complex tool, you expect to have great detailed documentation to help you implement it."

    What is our primary use case?

    NetSuite ERP is used for a lot of things. It has modules for accounting, distribution, and services. It's a full-fledged ERP solution.

    What is most valuable?

    The most valuable aspect of NetSuite ERP is the multi-subsidiary portion, it is the strongest across all the other ERPs. If you want to do consolidations, it works a lot better than other tools.

    What needs improvement?

    NetSuite ERP's UI could be improved. There are some features that are very complex that do not have to be. There are some aspects of the solution that could be simplified and this can include the documentation. Since it's a very complex tool, you expect to have great detailed documentation to help you implement it.

    For how long have I used the solution?

    I have used NetSuite ERP within the past 12 months.

    What do I think about the scalability of the solution?

    NetSuite ERP is highly scalable for companies that have six, seven, eight, different subsidiaries across different countries. NetSuite is well suited for that use case.

    How was the initial setup?

    NetSuite ERP is straightforward to implement, however, it can become really complex. You could decide to use it out of the box, but if you really want to make it complex, you have the ability to. Sometimes you need to think about not going overboard with everything.

    What's my experience with pricing, setup cost, and licensing?

    NetSuite ERP has a cost per module you want to use, and then you have the license per user.

    Which other solutions did I evaluate?

    If you compare the four best ERPs, they're all on the same level. They are all doing the same thing, in terms of features.

    What other advice do I have?

    I would advise others to make sure they understand the cost structure and that it fits their budget.

    I rate NetSuite ERP a nine out of ten.

    Disclosure: My company has a business relationship with this vendor other than being a customer: Implementer
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    Senior Consultant DatumRedsoft at Datum
    Reseller
    Top 10
    A stable ERP solution with a great user interface
    Pros and Cons
    • "The most valuable feature in NetSuite ERP is the user interface."
    • "It would be great if they offered localization for Central America."

    What is our primary use case?

    We use NetSuite ERP to order cash, general layer issues, compliance, financial statement generation, accounts payables, account receivables, and invoicing. We don't use it for inventory or annual fiscal requirements, just general use.

    What is most valuable?

    The most valuable feature in NetSuite ERP is the user interface. Next, it's the corporation facility, user experience, and ease of configuration. We are impressed with this solution.

    What needs improvement?

    It would be great if they offered localization for Central America. It'll help us create local taxes, local fiscal requirements, and local reporting issues easily. 

    For how long have I used the solution?

    I have used NetSuite ERP for about two years.

    What do I think about the stability of the solution?

    The stability is great. It's impressive, and the response time is also great.

    What do I think about the scalability of the solution?

    Scalability is automatic and great. We don't have any complaints regarding the scalability and response time. 

    How was the initial setup?

    The initial setup was easy. 

    What other advice do I have?

    I would advise people interested in using NetSuite ERP to follow NetSuite's methodology. Follow it step-by-step, according to NetSuite's recommendation. 

    On a scale from one to ten, I would give NetSuite ERP a ten. 

    Which deployment model are you using for this solution?

    Private Cloud
    Disclosure: My company has a business relationship with this vendor other than being a customer: Reseller
    PeerSpot user
    Partner at a financial services firm with 5,001-10,000 employees
    MSP
    Top 5Leaderboard
    Flexible, is regularly updated, and works well for large enterprises
    Pros and Cons
    • "Every year, they release a new version."
    • "The pricing is high."

    What is our primary use case?

    This is specialized software, an ERP, for the financial and management functions of an enterprise.

    What is most valuable?

    It's very capable in its area. 

    The product is very flexible and can adjust to the customer's needs.

    They keep improving the product. Every year, they release a new version.

    The solution works well for larger organizations.  

    What needs improvement?

    There is always a way to improve the tools used for customizing it to the special needs of the customers. They could make it even better.

    The pricing is high. For small companies, it is not very competitive.

    For how long have I used the solution?

    I've been using the solution for five years. 

    What about the implementation team?

    We are able to implement the solution for clients as needed. 

    What's my experience with pricing, setup cost, and licensing?

    The price is quite high if you are a smaller organization. 

    What other advice do I have?

    We are implementors. Oracle is a provider, and our company offers the service for implementation and customization.

    Overall, I would rate the solution eight out of ten. I've been mostly very happy with its capabilities. 

    Which deployment model are you using for this solution?

    Public Cloud
    Disclosure: I am a real user, and this review is based on my own experience and opinions.
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    Buyer's Guide
    Download our free NetSuite ERP Report and get advice and tips from experienced pros sharing their opinions.
    Updated: November 2022
    Buyer's Guide
    Download our free NetSuite ERP Report and get advice and tips from experienced pros sharing their opinions.