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NetSuite at a Glance
NetSuite’s core ERP platform includes accounting, inventory management, order management and tax management. 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.
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Speaking of customization, NetSuite’s SuiteCloud customization features let you tailor the platform to meet your business needs and preferences with ease. You can create your own user interfaces, create and share branded documents, integrate with outside applications and more.
In addition, NetSuite comes with robust reporting capabilities. Thanks to its built-in reporting tools, you’ll be able to pull reports on just about anything you’d like. There are also role-based dashboards that can help your employees and management team make smart, data-driven decisions.
If you subscribe to NetSuite, you’ll pay an annual license fee, which allows your business to use the core platform, choose the number of users and add on modules as you see fit. As your business grows, you can add more users and modules to meet your new needs.
In addition to the annual license fee, NetSuite will charge you a one-time implementation fee to get your software up and running. The company doesn’t disclose its pricing upfront and asks that you schedule a consultation to get a quote for your unique business.
Other Benefits
NetSuite also offers SuiteApps, which are apps developed by third parties and supported by NetSuite’s tools. SuiteApps are designed to meet business or industry-specific needs. These apps fall into a number of categories, such as food and beverage, non-profit, restaurants and hospitality, warehouse management, banking, and accounting.
For example, companies that want to keep careful track of their finances while also managing an order fulfillment center can utilize NetSuite’s supply chain management software to communicate directly with suppliers, track inventory records, run financial reports and log production data all in one place. Keeping multiple types of software under one umbrella can be a huge boon to users, as the platforms typically “talk” to one another much more fluidly than when using third-party integrations.
Fine Print
When it comes to customer support, NetSuite requires you to choose from one of three packages: Basic, Premium and Advanced. The Basic plan offers toll-free help for major issues 24/7. It also includes online support via SuiteAnswers, which is the company’s knowledge center, and access to a community support group.
How NetSuite Stacks Up
| NetSuite | FreshBooks | QuickBooks | |
|---|---|---|---|
| Customizable Features | Excellent | Good | Excellent |
| Free Trial | None | 30 days | 30 days |
| Customer Support | Phone support, online case submission and a knowledge base | Phone and email support, live chat, knowledge base and help center | Live chat, video tutorials, phone and email support |
| Learn More | Via partner site | Via partner site | Via partner site |
| Read Reviews | -- | Read FreshBooks Review | Read QuickBooks Review |
Since there are many software options out there and comparing them can be overwhelming, we decided to do the heavy lifting for you and research a few of NetSuite’s competitors. While both NetSuite and QuickBooks offer no shortage of customization features, FreshBooks doesn’t have as many.
Where NetSuite lags behind, however, is its lack of free trial and live chat support. If you’d like to try before you buy and receive instant answers to your most pressing questions and concerns, you should consider these drawbacks.
See more details on the competition in our full roundup of the best accounting software for small businesses.
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Is NetSuite Right for You or Your Business?
NetSuite is worth considering if you’re a medium- or large-sized business looking for a one-stop, scalable solution with impressive customization capabilities. If you know you’ll need a CRM and other business tools for functions such as accounting, HR and payroll, it may be a solid investment. But if you’re a startup, small business or want a simple, “no-frills” option, you should probably look elsewhere.
Frequently Asked Questions (FAQs)
What is ERP?
ERP, or enterprise resource planning, is an integrated software platform that companies use to manage their resources. This includes everything from planning to hiring and human resources (HR) to finance and accounting to order processing and inventory management, depending on what type of business the company does.
Is NetSuite free?
Unfortunately, there is no free version of NetSuite. To take advantage of the platform, you’ll have to pay an annual license fee and one-time setup fee, which will be based on factors such as the modules and number of users you choose. You’ll need to schedule a free consultation for an accurate quote.
How does NetSuite work?
Since NetSuite is a cloud-based platform, your employees and management team can use it securely through just about any browser or any device, such as a smartphone, laptop or tablet, as long as they’re connected to the internet. Everyone will be able to access the core ERP functions plus add-on modules in one place.
What are NetSuite modules?
NetSuite modules are optional features you can add on to your NetSuite ERM to meet the specific needs of your business. You may choose new modules and enjoy new functionality as your business grows. NetSuite modules fit into these categories: finance, operations, customers, and additional capabilities.
Are ERP systems for small businesses?
While business management only increases in complexity as a company grows, many smaller businesses still find ERP software to be essential in 2024. Even local, mom-and-pop businesses still juggle a variety of business elements such as accounting, inventory management, payroll and sales. Of any type of business, small ones likely have the least bandwidth to devote to analyzing and optimizing these various elements, making them a good candidate for an ERP system.
How do I compare ERP systems?
Prospective ERP system users must first decide if they want on-site or cloud-based software. There are also several different product structures to compare: a one-size-fits-all suite offering the broadest array of tools, a generic base system with à la carte add-ons or an industry-specific system designed around particular anticipated needs. Before looking for a price tag, compare pricing structures; ERP systems may be treated as a renewable subscription service, a perpetually licensed software product or a one-time, pay-upfront installation. Often overlooked, the size and nature of the software provider itself can inform what the system implementation process will be like and what further support will be provided.
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