NetSuite Cost Guide | Reviews, Pricing, Pros & Cons
NetSuite’s ERP software, NetSuite OneWorld allows companies to automate and streamline their business processes from start to finish. Whether you are looking for a way to grow your small company or just want some assistance with the day-to-day operations of an enterprise operation, this is made possible by Oracle’s cloud computing platform that integrates all key functionalities in one place.
Founder: Evan M. Goldberg
Founded: 1998, California
Headquarters: San Mateo, CA
Subsidiaries: OpenAir Inc, IQity Solutions, LLC, OrderMotion
Parent organization: Oracle Corporation
NetSuite was founded in 1998, when the “Cloud Computing” revolution began. It is now one of the world’s leading providers for Cloud-based ERP and omnichannel commerce software that runs across 215 countries around the globe.
NetSuite has helped many businesses simplify their back-office functions so they can focus on other aspects of running their organizations like customer experience management (CEM) systems which allow them access insights data at any time while providing customers with easier ways to make purchases online.
NetSuite ERP Software Pros and Cons
NetSuite is a robust system that comprises seven inter-related modules. Each module utilizes data stored in the shared database, providing users with features specific to each individual function of NetSuite.
Pros: NetSuite has a few strengths that set it apart from other software providers. One is its breadth of functionality, which makes NetSuite an ideal suite for just about anyone to use in their business ventures. The company also prides itself on the scalability and extensibility of their application – this means it will work with your growth as you grow!
Cons: NetSuite is a well-known enterprise resource planning (ERP) system. One of the many great things about this software platform is its integration capabilities with third party platforms. Unfortunately, as one might expect when integrating different types of systems together to make work more efficient and effective for employees, there are often bugs that can cause downtime for you or your company’s business operations.
NetSuite has been praised by some large companies since it offers them all they need in order to stay afloat during times where time constraints may be tight due to rapid growth spurts or increased workloads from clients who require quick responses within deadlines; however most small businesses have wished NetSuite offered even better customer support than what was available before because at times their
Conclusion: While there is some drawback to NetSuite ERP, overall it is a very good cloud-based software.
NetSuite offers a real-time view of your finances, which means you’ll spend less time on accounting and more time running your business. The NetSuite module includes features like live financial data and direct links between accounting management with compliance management to help accelerate the close process while also allowing for accurate reporting at all times.
NetSuite’s unique modules offer unparalleled capabilities that give users access to their financial information in real-time as well as linkages between different aspects of managing one’s company including Accounting & Compliance Management so they can get faster closings without sacrificing accuracy.
NetSuite is a powerful tool for businesses to use, but it takes time. NetSuite can be implemented in just two months or take as long as six – depending on its breadth and the complexity of your business needs.
NetSuite’s success team dispatches their experienced managers to work with you and your business goals. Together, they develop a project roadmap for the development process of transitioning your company from paper-based systems into this new digital world where everything happens online!
NetSuite Features and Benefits:
- Cloud-based accounting software not only provides core accounting functions but also allows for real-time financial visibility and business insights. This enables NetSuite users to achieve faster growth by staying ahead of the competition.
- NetSuite’s Revenue Recognition feature is a great way to stay compliant with accounting standards. It helps you schedule your revenue properly, and balance sheet in an accurate manner.
- Financial Planning and Reporting is an all-inclusive software that integrates planning, budgeting, forecasting data to produce real-time information for making on-demand decisions.
- NetSuite Billing allows you to plug into your sales, finance, and fulfillment areas seamlessly. This will let you process transactions through just about any avenue imaginable.
- Accounting is the only cloud-based accounting and ERP solution that offers close to disclose capabilities. This feature allows you to easily do your yearly financials, no matter where in the world you are located or what country’s regulations apply. NetSuite provides an affordable way for small businesses of any size with global reach across borders and regulatory requirements; Net Suite’s “close-to-disclose” features empower companies by providing a simple method for doing their finances on one platform which can be accessed anywhere at any time without sacrificing accuracy or compliance.
- NetSuite Governance, Risk, and Compliance helps you stay on top of regulatory requirements while keeping your business running smoothly. Some companies find it difficult to balance the challenges present in their growing businesses with staying compliant with regulations like GDPR or Sarbanes-Oxley Act (SOX). This can be a risky proposition for any company that doesn’t have an effective risk management strategy; not only will they face fines but also incur damage to reputation among customers as well as possible loss in revenue due to declining customer loyalty. NetSuite’s GRC solution provides tools such as automated processes, dashboards, reports, and analytics which allow them to focus more time on meeting compliance obligations rather than getting bogged down by administrative tasks like data entry or reporting.
How Much NetSuite Cost? Pricing Information
Each NetSuite customer starts with a suite, which largely depends on the size of their company and how they plan to use it. The tier you choose will most likely be determined by your budget or what features are necessary for your business model.
NetSuite’s pricing structure is based around suites, so choosing one that fits both what you need (in terms of space) and wants (features) should make things easier in the long run.
NetSuite promises that its price will be tailored to each customer, based on a set of givens which include the ERP configuration, required add-on modules, and total user count. The base license costs $999 per month with access costs for users at an additional cost of $99 per month.
Is Oracle NetSuite Affordable? Additionally, NetSuite is an affordable option for businesses that need one platform on which their business can be run. But some small businesses and startups may need a more inexpensive option due to the many different features they might require from software in order to successfully grow as well as compete with larger companies.
What Size Businesses Use NetSuite? NetSuite ERP is largely used by companies that have 50-200 employees and 1M-10M dollars in revenue. With data going back as far as 5 years 11 months, we can show how NetSuite has become a mainstay for many businesses all over the world.
- Sage Intacct
- Open Systems Traverse
- SAP Business One
- Microsoft Dynamics GP
- SAP Business One
- FinancialForce Financial Management ERP
If you’re ready for more information or to compare your options with ERP software, click below to get connected.