What users are saying about
364 Ratings
95 Ratings
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Score 8.7 out of 100
364 Ratings
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Score 7.1 out of 100

Likelihood to Recommend

Financial Edge NXT

I think FENXT is well suited for medium to large sized organizations who are willing to make an investment in their systems. I do not feel this would be worthwhile for small organizations or ones who do not prioritize their database systems.
Brandon Mand | TrustRadius Reviewer

NetSuite

I am a huge advocate for NetSuite, because the system is user-friendly (after a little training) and because it is so customizable. I would recommend NetSuite to any business with more than one company and especially businesses with companies based in more than one country. Small, medium and large companies can leverage the NetSuite platform to suit their needs, whether simple or complex.NetSuite has a number of taxation features that can help to automate return filings, so any business looking to systematize certain tax areas will find the system very useful.NetSuite allows great transparency across an organization and adopts a "one source of truth" methodology. If you have Finance, Accounting, Marketing, Sales, Operations, etc. all working in the same platform and working with the same data, there is less room for data discrepancies and more reliance can be placed upon the system outputs.If a business has a disconnect between Finance, Accounting, Marketing, Sales, Operations, etc. NetSuite will allow that business to come together and automate processes within a single system. There is no need for external system connectors, saving the business time (maintaining the connections) and money (saving on subscription fees to third-party connector vendors).
Sonny Spencer, ACA | TrustRadius Reviewer

Feature Rating Comparison

Payroll Management

Financial Edge NXT
7.3
NetSuite
5.4
Pay calculation
Financial Edge NXT
4.9
NetSuite
4.9
Direct deposit files
Financial Edge NXT
5.2
NetSuite
5.0
Salary revision and increment management
Financial Edge NXT
9.9
NetSuite
6.0
Reimbursement management
Financial Edge NXT
9.0
NetSuite
6.0
Benefit plan administration
Financial Edge NXT
NetSuite
5.0

Customization

Financial Edge NXT
7.8
NetSuite
6.7
API for custom integration
Financial Edge NXT
8.5
NetSuite
6.7
Plug-ins
Financial Edge NXT
7.0
NetSuite
6.6

Security

Financial Edge NXT
8.8
NetSuite
7.8
Single sign-on capability
Financial Edge NXT
8.9
NetSuite
7.9
Role-based user permissions
Financial Edge NXT
8.6
NetSuite
7.6

Reporting & Analytics

Financial Edge NXT
8.2
NetSuite
6.5
Dashboards
Financial Edge NXT
7.3
NetSuite
6.7
Standard reports
Financial Edge NXT
8.7
NetSuite
6.4
Custom reports
Financial Edge NXT
8.7
NetSuite
6.3

General Ledger and Configurable Accounting

Financial Edge NXT
8.2
NetSuite
6.9
Accounts payable
Financial Edge NXT
9.0
NetSuite
7.3
Accounts receivable
Financial Edge NXT
7.0
NetSuite
7.5
Cash management
Financial Edge NXT
9.0
NetSuite
Bank reconciliation
Financial Edge NXT
8.7
NetSuite
Expense management
Financial Edge NXT
8.9
NetSuite
Time tracking
Financial Edge NXT
6.4
NetSuite
Fixed asset management
Financial Edge NXT
9.0
NetSuite
Multi-currency support
Financial Edge NXT
7.9
NetSuite
Multi-division support
Financial Edge NXT
9.0
NetSuite
Regulations compliance
Financial Edge NXT
9.8
NetSuite
Electronic tax filing
Financial Edge NXT
5.3
NetSuite
Self-service portal
Financial Edge NXT
9.0
NetSuite
Global Financial Support
Financial Edge NXT
NetSuite
7.0
Primary and Secondary Ledgers
Financial Edge NXT
NetSuite
7.9
Intercompany Accounting
Financial Edge NXT
NetSuite
7.0
Localizations
Financial Edge NXT
NetSuite
7.8
Journals and Reconciliations
Financial Edge NXT
NetSuite
7.0
Enterprise Accounting
Financial Edge NXT
NetSuite
7.7
Configurable Accounting
Financial Edge NXT
NetSuite
7.7
Centralized Rules Framework
Financial Edge NXT
NetSuite
6.1
Standardized Processes
Financial Edge NXT
NetSuite
7.8

Order Management

Financial Edge NXT
5.8
NetSuite
6.9
Pricing
Financial Edge NXT
6.5
NetSuite
6.9
Credit card processing
Financial Edge NXT
9.4
NetSuite
7.3
Cost of goods sold
Financial Edge NXT
1.4
NetSuite
7.0
Order entry
Financial Edge NXT
NetSuite
6.4
Order Orchestration
Financial Edge NXT
NetSuite
7.0
End-to-end order visibility
Financial Edge NXT
NetSuite
7.2
Order exception Resolution
Financial Edge NXT
NetSuite
6.4

Inventory Management

Financial Edge NXT
NetSuite
5.7
Inventory tracking
Financial Edge NXT
NetSuite
6.3
Automatic reordering
Financial Edge NXT
NetSuite
5.6
Location management
Financial Edge NXT
NetSuite
5.8
Manufacturing module
Financial Edge NXT
NetSuite
4.9

Subledger and Financial Process

Financial Edge NXT
NetSuite
6.9
Automated Invoice Processing
Financial Edge NXT
NetSuite
7.4
Shared Services Payments
Financial Edge NXT
NetSuite
6.6
Billings Management
Financial Edge NXT
NetSuite
6.9
Customer Receipt Applications
Financial Edge NXT
NetSuite
7.0
Customer Collections
Financial Edge NXT
NetSuite
7.4
Revenue Recognition
Financial Edge NXT
NetSuite
7.8
Cash Management
Financial Edge NXT
NetSuite
6.7
Asset Management
Financial Edge NXT
NetSuite
5.9
Travel & Expense Management
Financial Edge NXT
NetSuite
6.8
Budgetary Control & Encumbrance Accounting
Financial Edge NXT
NetSuite
6.9
Period Close
Financial Edge NXT
NetSuite
7.8
Transactions Tax
Financial Edge NXT
NetSuite
7.0
Subledger Reconciliations
Financial Edge NXT
NetSuite
6.9
3rd Party Accounting Systems
Financial Edge NXT
NetSuite
5.7

Project Financial Management

Financial Edge NXT
NetSuite
6.2
Budgeting and Forecasting
Financial Edge NXT
NetSuite
5.6
Project Costing
Financial Edge NXT
NetSuite
6.4
Cost Capture
Financial Edge NXT
NetSuite
6.8
Capital Project Management
Financial Edge NXT
NetSuite
6.7
Customer Invoicing
Financial Edge NXT
NetSuite
6.8
Customer Contract Compliance
Financial Edge NXT
NetSuite
7.5
Project Revenue Recognition
Financial Edge NXT
NetSuite
6.2
Project Financial Performance Analysis
Financial Edge NXT
NetSuite
6.4
Project Financials Dashboard
Financial Edge NXT
NetSuite
6.0
Real-time Financial Reporting
Financial Edge NXT
NetSuite
6.5
Embedded Business Intelligence
Financial Edge NXT
NetSuite
4.9
Project Planning Collaboration
Financial Edge NXT
NetSuite
5.0

Project Execution Management

Financial Edge NXT
NetSuite
6.2
Project Planning and Scheduling
Financial Edge NXT
NetSuite
5.3
Project Manager Dashboard
Financial Edge NXT
NetSuite
5.0
Resource Manager Dashboard
Financial Edge NXT
NetSuite
4.6
Task Insight for Project Managers
Financial Edge NXT
NetSuite
6.1
Project Manager Mobile Functionality
Financial Edge NXT
NetSuite
6.7
Team Member Task Collaboration
Financial Edge NXT
NetSuite
6.0
Team Member Mobile Functionality
Financial Edge NXT
NetSuite
6.7
Project Candidate Search
Financial Edge NXT
NetSuite
6.5
Project Candidate Comparison and Analysis
Financial Edge NXT
NetSuite
6.5
Defineable Resource Pools
Financial Edge NXT
NetSuite
6.5
Defineable Resource Pools
Financial Edge NXT
NetSuite
6.5
Talent Profiles
Financial Edge NXT
NetSuite
5.9
Real-Time Project Reporting
Financial Edge NXT
NetSuite
6.5
Absence Management
Financial Edge NXT
NetSuite
7.0
Product Lifecycle Management
Financial Edge NXT
NetSuite
7.0

Grants Management

Financial Edge NXT
NetSuite
6.6
Award Lifecycle Management
Financial Edge NXT
NetSuite
6.8
Spending Control
Financial Edge NXT
NetSuite
6.8
Indirect Cost Management
Financial Edge NXT
NetSuite
6.8
Billing
Financial Edge NXT
NetSuite
5.9

Procurement

Financial Edge NXT
NetSuite
6.6
Sourcing Team Collaboration
Financial Edge NXT
NetSuite
7.3
Sourcing Analysis
Financial Edge NXT
NetSuite
6.6
Bids Analyzed and Compared
Financial Edge NXT
NetSuite
6.5
Catalog Shopping E-Commerce for Employees
Financial Edge NXT
NetSuite
5.3
Contract Authoring
Financial Edge NXT
NetSuite
6.1
Contract Compliance Management
Financial Edge NXT
NetSuite
6.2
Contract History
Financial Edge NXT
NetSuite
6.2
Contract Renewal Automation
Financial Edge NXT
NetSuite
6.1
Contract Repository
Financial Edge NXT
NetSuite
6.1
Contract Standardization and Enforcement
Financial Edge NXT
NetSuite
6.0
Electronic Signatures
Financial Edge NXT
NetSuite
6.5
Invoice Automated Matching
Financial Edge NXT
NetSuite
6.5
Purchasing Risk and Compliance Management
Financial Edge NXT
NetSuite
6.7
Requisitions-to-Purchase Orders Integrated
Financial Edge NXT
NetSuite
7.3
Spend Compliance Management
Financial Edge NXT
NetSuite
7.7
Supplier Assessment
Financial Edge NXT
NetSuite
7.0
Supplier Communication and Collaboration
Financial Edge NXT
NetSuite
7.2
Supplier Management
Financial Edge NXT
NetSuite
7.8
Supplier Portal
Financial Edge NXT
NetSuite
7.0

Risk Management

Financial Edge NXT
NetSuite
6.7
Risk Repository
Financial Edge NXT
NetSuite
7.0
Control Management
Financial Edge NXT
NetSuite
6.5
Control Mapping
Financial Edge NXT
NetSuite
6.5
Control Efficiency Assessments
Financial Edge NXT
NetSuite
6.5
Automated Control Assessments
Financial Edge NXT
NetSuite
6.5
Assessment Capture
Financial Edge NXT
NetSuite
7.0
Issue Detection
Financial Edge NXT
NetSuite
7.0
Automatic Notification
Financial Edge NXT
NetSuite
7.0
Remediation and Certification
Financial Edge NXT
NetSuite
6.5

Logistics

Financial Edge NXT
NetSuite
4.4
Transportation Planning and Optimization
Financial Edge NXT
NetSuite
4.4
Transportation Sourcing Management
Financial Edge NXT
NetSuite
4.5
Transportation Process Integration
Financial Edge NXT
NetSuite
5.3
Transportation Execution Management
Financial Edge NXT
NetSuite
4.2
Freight Payment Automation
Financial Edge NXT
NetSuite
4.2
Trade Management
Financial Edge NXT
NetSuite
3.7
Trade Regulatory Compliance Management
Financial Edge NXT
NetSuite
6.1
Customs Entry Management
Financial Edge NXT
NetSuite
4.2
Customs Document Management
Financial Edge NXT
NetSuite
3.4
Customs Document Collaboration
Financial Edge NXT
NetSuite
3.1
Fulfillment Management
Financial Edge NXT
NetSuite
4.1
Inventory Visibility
Financial Edge NXT
NetSuite
5.2
Warehouse Workforce Management
Financial Edge NXT
NetSuite
4.4

Manufacturing

Financial Edge NXT
NetSuite
5.3
Production Process Design
Financial Edge NXT
NetSuite
5.1
Supply Chain Business Flows
Financial Edge NXT
NetSuite
4.3
Production Management
Financial Edge NXT
NetSuite
4.3
Contracted Manufacturing Management
Financial Edge NXT
NetSuite
4.0
Configuration Management
Financial Edge NXT
NetSuite
7.8
Work Definition
Financial Edge NXT
NetSuite
3.6
Work Execution
Financial Edge NXT
NetSuite
4.6
Advanced Fulfillment
Financial Edge NXT
NetSuite
7.4
Manufacturing Costs
Financial Edge NXT
NetSuite
6.5

Supply Chain

Financial Edge NXT
NetSuite
5.1
Forecasting
Financial Edge NXT
NetSuite
4.7
Inventory Planning
Financial Edge NXT
NetSuite
4.1
Multi-tier Supply Chain Planning
Financial Edge NXT
NetSuite
6.7
Performance Monitoring
Financial Edge NXT
NetSuite
4.8

Product Lifecycle Management

Financial Edge NXT
NetSuite
4.7
Ideation Management
Financial Edge NXT
NetSuite
4.6
Requirements Management
Financial Edge NXT
NetSuite
7.1
Proposal Management
Financial Edge NXT
NetSuite
3.7
Innovation Portfolio Management
Financial Edge NXT
NetSuite
4.2
Product Master Data Management
Financial Edge NXT
NetSuite
4.1
Vendor Portal
Financial Edge NXT
NetSuite
4.8
Project Portfolio Management
Financial Edge NXT
NetSuite
4.6

Pros

Financial Edge NXT

  • Data entry is much easier with NXT especially for accounts payable
  • Reporting is fantastic with the ability to drill down in the reports to the detail and to export reports in more consistent formats (PDF, Excel)
  • Bank reconciliation is a breeze with the cash management capabilities
Pamela Wittmayer | TrustRadius Reviewer

NetSuite

  • Integrates. NetSuite is particularly good at integrating with other products. For example, we integrate NetSuite with Adaptive Planning in order to bring actual financials together with forecast and budget data, which is then used for analysis and reporting. We also integrate NetSuite with other administration platforms so invoicing and commissions can be done rather seamlessly.
  • Intuitive. NetSuite is extremely intuitive. I started using it without any training and was easy to learn. It takes a little practice to learn the reporting system, but if you are just looking for client or vendor information it is as easy as typing the name or ID into the search box at the top.
  • Easy to Support. While setup is important and takes a lot of hours, the ongoing support is outstanding when compared to some of the other big enterprise systems. The previous enterprise system I used needed 4 full time programmers on staff just to keep it running, and it still kept getting outdated. The cloud application and seamless upgrades make this product superior.
Chris Snelling, CFA | TrustRadius Reviewer

Cons

Financial Edge NXT

  • The dashboards need to be imported onto company website for board review
  • The financial reports generated within the program should be as appealing (not so canned) to the ones we have to format in excel
  • Implementation costs could be a lot less
Anonymous | TrustRadius Reviewer

NetSuite

  • Consolidated invoicing. Generally, I think it's not a problem for NetSuite customers, and the potential, infrequent multiple invoicing to a given customer is likely okay. However, there may be instances producing 3 or more invoices per month for a given customer. The only consolidation solution offered is their homegrown "SuiteSolution" called Consolidated Invoicing. I don't use it but have had demos and discussions. Really need something slicker.
  • Fixed Assets Management. I use their SuiteSolution, Fixed Assets Management. It's not part of core NetSuite so there are inconsistencies with the rest of the system, some performance annoyances, and weaker reporting capabilities. It's a better product than other fixed asset solutions I've tried!
  • A very recent frustration of mine is that it is not possible without customization to display tax amounts per line in a transaction. This should be native. The per-line tax amount is available in a saved search; the per-line tax rate is available to display on the transaction; the tax amount can be displayed in the PDF generated. Why not show the amount in the system? Fortunately, it's easy to create a custom field/column that multiplies tax rate with an amount to give you tax amount. Pretty minor in the scheme of things, but fresh in my mind.
Joshua Henke | TrustRadius Reviewer

Likelihood to Renew

Financial Edge NXT

Financial Edge NXT 7.8
Based on 3 answers
There aren't too many non-profit specific financial/accounting software solutions available. Even so, Financial Edge NXT meets the needs of our staff and allows us to operate efficiently.
Gregory Seay, CMA, CPA | TrustRadius Reviewer

NetSuite

NetSuite 8.0
Based on 22 answers
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.
Billy Barker | TrustRadius Reviewer

Usability

Financial Edge NXT

Financial Edge NXT 5.5
Based on 1 answer
Still needs development to match the old client server version
Michael Downs | TrustRadius Reviewer

NetSuite

NetSuite 9.0
Based on 11 answers
Through creation of various dashboards and KPIs the user does not really need to get very technically involved. They simply need to understand how to fill out a form, and through proper workflow creations they can be alerted when it is time to provide the necessary information or perform a necessary action to complete the next phase of the business process.
Felix Garbuz | TrustRadius Reviewer

Reliability and Availability

Financial Edge NXT

No score
No answers yet
No answers on this topic

NetSuite

NetSuite 9.4
Based on 13 answers
Netsuite is never down. In the past year, we have been down only when we have internet issues
Aaron Kleinhandler | TrustRadius Reviewer

Performance

Financial Edge NXT

No score
No answers yet
No answers on this topic

NetSuite

NetSuite 7.7
Based on 12 answers
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.
Pamela Roberts | TrustRadius Reviewer

Support Rating

Financial Edge NXT

Financial Edge NXT 10.0
Based on 3 answers
Excellent support given by people who fully understand the system and your question. Multiple channels to access support, and an easy-to-use tracking system for support requests. No language barriers, and people unafraid to admit they don't know the answer. If followup is needed, they get back to me when they say they will, and they keep after a problem until it's resolved. I LOVE BLACKBAUD's SUPPORT!
Susan Cornforth | TrustRadius Reviewer

NetSuite

NetSuite 1.0
Based on 10 answers
In my opinion, the best place to go to answer your NetSuite functionality questions is their Online Help. It is excellent. For true support questions, NetSuite offers a Knowledgebase to its customers. Also, for ERP, NetSuite has licensed accountants that provide support. With any support organization, you must be thorough in describing your issue though.

NetSuite has several different support levels - http://www.netsuite.com/portal/services/support_main.shtml
Rob Gottschalk | TrustRadius Reviewer

In-Person Training

Financial Edge NXT

No score
No answers yet
No answers on this topic

NetSuite

NetSuite 7.3
Based on 2 answers
The general Admin training is good but very soft for the high technical stuff
Felix Garbuz | TrustRadius Reviewer

Online Training

Financial Edge NXT

No score
No answers yet
No answers on this topic

NetSuite

NetSuite 8.0
Based on 7 answers
Relatively easy and if time permits e
Felix Garbuz | TrustRadius Reviewer

Implementation Rating

Financial Edge NXT

Financial Edge NXT 6.4
Based on 1 answer
From an IT perspective, read up on the user setup integrated with the DB View
Michael Downs | TrustRadius Reviewer

NetSuite

NetSuite 7.3
Based on 9 answers
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
Rob Gottschalk | TrustRadius Reviewer

Alternatives Considered

Financial Edge NXT

I have used other products such as Banner at previous jobs. When I came to my current job, they already had Financial Edge in place. It was easy to learn and more user-friendly than Banner and other programs I had previously used. We converted to Financial Edge NXT shortly after I started working there. The advantages of Financial Edge NXT are a great benefit.
Tracy Spence | TrustRadius Reviewer

NetSuite

We selected Netsuite over Financial Force because at that moment Netsuite had a localization feature we needed to consolidate financial information from a company outside the US and they had the feature for the accounting rules of that specific country.
Nicolas Costa Ossa | TrustRadius Reviewer

Scalability

Financial Edge NXT

No score
No answers yet
No answers on this topic

NetSuite

NetSuite 8.4
Based on 5 answers
Because it has a relatively low price of entry for the base modules and then you pay per user, you can start out small and expand as you need to. I've seen it used with 1 user all the way up to hundreds of users. Imagine experiencing all that growth without implementing a new ERP system!
Dana Larson | TrustRadius Reviewer

Return on Investment

Financial Edge NXT

  • Positive impact on our desire to 'modernize' (i.e. getting a system that looks and feels more contemporary than our previous accounting systems).
  • Generally positive impact in our ability to streamline or simplify some of our accounting processes that took longer in our previous accounting system.
  • Negative cost impact in that we pay much more for NXT than our old system. In retrospect it may not have been worth it to pay for 'NXT', and we might have just gone with the database view, as that is perfectly suitable. But admittedly I am not sure about the pricing difference.
Anonymous | TrustRadius Reviewer

NetSuite

  • Very positive impact! Our old accounting system needed constant day to day maintenance between modules to get accurate reporting. Manufactured items were not calculating costs correctly so reports were never accurate.
  • The cloud based platform has save me SOOOOOOOOOOO much time not maintaining servers, workstations etc. Adding users and work stations are as simple as just having a computer with internet access.
  • Dashboard reminders really help me keep track of everything going on (or going wrong) within our organization. Problem troubleshooting is much easier with Netsuite.
Cindy Rumpf Novack | TrustRadius Reviewer

Screenshots

NetSuite

Pricing Details

Financial Edge NXT

General

Free Trial
Free/Freemium Version
Premium Consulting/Integration Services
Yes
Entry-level set up fee?
Required

NetSuite

General

Free Trial
Free/Freemium Version
Premium Consulting/Integration Services
Entry-level set up fee?
No

Rating Summary

Likelihood to Recommend

Financial Edge NXT
8.2
NetSuite
6.1

Likelihood to Renew

Financial Edge NXT
7.8
NetSuite
8.0

Usability

Financial Edge NXT
5.5
NetSuite
9.0

Reliability and Availability

Financial Edge NXT
NetSuite
9.4

Performance

Financial Edge NXT
NetSuite
7.7

Support Rating

Financial Edge NXT
10.0
NetSuite
1.0

In-Person Training

Financial Edge NXT
NetSuite
7.3

Online Training

Financial Edge NXT
NetSuite
8.0

Implementation Rating

Financial Edge NXT
6.4
NetSuite
7.3

Scalability

Financial Edge NXT
NetSuite
8.4

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