London based Receipt Bank offers Practice Platform, an application supporting SMBs and accounting firms with tracking receipts and expenses and logging them with minimal or no paperwork and data entry in an environment that integrates with popular accounting software (e.g. Quickbooks).
N/A
NetSuite ERP
Score 7.8 out of 10
N/A
NetSuite is a suite of ERP and accounting modules which is sold in various editions aimed at different size customers. The multi-country, multi-currency version is an additional module called OneWorld. Netsuite is a SaaS system and is not offered in an on-premise edition.
N/A
Pricing
Dext Prepare (with Receipt Bank)
NetSuite ERP
Editions & Modules
No answers on this topic
No answers on this topic
Offerings
Pricing Offerings
Dext Prepare (with Receipt Bank)
NetSuite ERP
Free Trial
Yes
No
Free/Freemium Version
No
No
Premium Consulting/Integration Services
No
No
Entry-level Setup Fee
No setup fee
No setup fee
Additional Details
—
Users subscribe to NetSuite for an annual license fee. Your license is made up of three main components: core platform, optional modules and the number of users. There is also a one-time implementation fee for initial setup. As your business grows, you can easily activate new modules and add users.
It is great for accounting firms. Easy to add and administer client accounts. Easy to integrate with QuickBooks Online. Easy for clients to capture and submit receipts on the go. It is hard to use for manual data entry, and if your clients frequently have very long receipts the Dext Mobile app does not work well as it compresses the image to the point where it is completely illegible. It does not seem to be designed for business owners to use directly rather than using it through their accounting firm.
NetSuite's scalability and ability to report on many enterprise processes and operations are my favorite features. NetSuite's user interface is straightforward. NetSuite is flexible and expandable, allowing us to save data and transactions fast. I appreciate the help establishing new workflows to improve system processes and procedures for the entire firm, and I love the customization options and shortcuts that make my team's work easier. NetSuite is one of the best resource planning tools, but like other Oracle technologies, it requires multiple training sessions to operate properly, and its subscription rates are too pricey for small organizations to utilize.
Receipt Bank does a stellar job of extracting information from photos of receipts and bills. I'd say 95% of the time the information pulled is correct, so very rarely do I have to correct an amount or date.
One feature I really enjoy is not only the syncing with Quickbooks Online, but the fact that it also pushes the image to Quickbooks Online as an attachment! This means that for every expense/bill processed through Receipt Bank, an image of it is available inside of the transaction inside of Quickbooks Online. This makes researching a breeze.
Receipt Bank makes it very simple for users to add documents to the platform. Each company receives a dedicated Receipt Bank email address, which they can email to and upload documents, or users can use the phone apps (which are really easy to use), or they can upload documents from their computer. Training our clients to use it really can't be any easier!
Receipt Bank Practice Platform has many great features. As they develop the platform I would like to see a rigorous review of all features so as not to add too many and overwhelm my team.
Having the flexibility to pick and choose from a suite of features and implement the ones that best suit my practice. A tailor made Receipt Bank Practice Platform. this would allow my practice to grow into the features rather than be overwhelmed by too many.
Support is not terrible but often works in different time zones and at different levels. It can be a challenge at times to resolve a problem but in fairness, we have never had a problem that wasn't solved.
Account management is an experience in growing pains. ALL, and I mean every one of our Account Managers has been world-class. They have been willing to fight for our company and 'go to bat' for our needs. The one oddity from Oracle NetSuite is the number of times our Account Managers change position. They seem to always be reorganizing or employees are moving around within the company. I wouldn't consider it 'unstable', just a function of a hot company going through growth pains.
Documentation and training. One of the beauties of the software is the automatic and bi-annual upgrades to the service. There is no chance of looking up one day and finding out you are six releases back in your software. However, even though we have benefited immensely from these development cycles, the documentation and training for new resources seems to be several months behind. We have seen more than one instance where a new and glad-to-get feature has no documentation available or very limited documentation to explain the new features.
Dext is the best way for us to manage our business expenses. Physical and PDF receipts/invoices will be around for a while, but the move to eInvoicing is very good and we look forward to Dext adding this feature
I am not the decision maker for this but I believe our company will be sticking with NetSuite for the long term. A CRM like this is a big investment and not something you move away from quickly and without a lot of planning. There is a lot of data involved and importing that into a new system is no easy task.
Dext Prepare's usability is great, it has lots of functions and you can scan any type of document, including hard copy handwritten documents. It is not very accurate but it is handwritten!! Apart from it, you can use multiple functions like one page at a time, multiple, in bulk. You can send emails with multiple attachments and one of the greatest function is the mobile application capabilities.
I give Netsuite [CRM] a value of 8 because it's very user friendly IF the user is properly trained and is dedicated to using the system as the administrator and company has intended. There are few items such as overall navigation that could be better but really that's splitting hairs as with any CRM, nothing's perfect.
It has been very reliable. I can only think of 1-2 times in 4.5 years that we have had issues getting in, and in each case were able to get back in within 1 hour. There has not been a major downtime
Most of the time the performance is very good. Pages load in a few seconds; financial reports take less than 5 seconds; basic searches take a few seconds. But performance can be sporadic throughout the day and cause the run time to triple.
Never used the support function. I guess that means it’s easy to use and works well because I never had an issue in 3 years. Not sure if the support team is helpful.
The high technical support is closer to a 9: they are very responsive and provide great examples for you to be able to replicate and resolve any scripting issue. The general support is about an 8: they address the issues relatively quickly and provide appropriate feedback although too often quoting NetSuite Support documents instead of providing relevant examples. For product enhancement issues it's a 5: very little feedback on when or whether they will happen.
I had in person training for a day when first got the software. The training was good. The challenge was that there was a large gap between training and when we went live so we forgot quite a lot
Executive involvement is critical. Make sure you have a good handle on the metrics you would like to ultimately manage. Work as a team to document your business requirements. Whiteboard often. Understand NetSuite's best practice capabilities.
Have a central person identified to handle all report and analysis requests (ie - don't allow multiple people to create reports; have one person create reports and distribute them to decision makers via the NS dashboard or whatever form). Make sure you understand critical dates and develop the project plan accordingly
Receipt Bank is superior to Wave in terms of its accuracy of reporting and allocating expenses. Even though there is a fee for Receipt Bank and Wave is free, the monthly fee for Receipt Bank is well worth the money, given the benefits
NetSuite, by far, offers the most customizable, intuitive and user-friendly platform compared with its competition. It's superior OneWorld offering for companies with multiple subsidiaries and direct integration with other areas of the business (sales, marketing, etc.) make it the best product out there in my mind. Its role-based permissions structure and detailed audit trail are also the best I have seen across the platforms I have used.
We have been able to scale our business 25X without any major overhaul with Netsuite. Its dashboard setup makes onboarding new employees very easy and allows data to be shared across multiple offices. Its cloud setup does not put any pressure on IT to scale servers or other infrastructure. We have been able to become much more efficient in all aspects of the business.
While I can't quantify the ROI it has definitely made an impact on productivity when compared to older, outdated systems. Monthly closes can be coordinated across the company and completed in a much quicker time.
Another positive impact from NetSuite is much easier access to data. Doing searches and getting data from NetSuite is easy. It doesn't require programmers to do and you don't have to memorize T codes and wait long periods for your information to update.
