What users are saying about
28 Ratings
369 Ratings
28 Ratings
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Score 3.8 out of 100
369 Ratings
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Score 7.1 out of 100

Likelihood to Recommend

MYOB

For a smaller business who isn't interested in having more than one user I think MYOB can serve them well. But if they want multiple users or are using virtual assistants there are better cloud based apps that are much more affordable and have far greater enhancements as well as integrations
Stephen Lalla | 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

MYOB
1.4
NetSuite
5.4
Pay calculation
MYOB
2.0
NetSuite
4.8
Benefit plan administration
MYOB
1.0
NetSuite
5.0
Direct deposit files
MYOB
1.0
NetSuite
5.0
Salary revision and increment management
MYOB
1.0
NetSuite
6.0
Reimbursement management
MYOB
2.0
NetSuite
6.0

Customization

MYOB
4.5
NetSuite
6.4
API for custom integration
MYOB
4.0
NetSuite
6.5
Plug-ins
MYOB
5.0
NetSuite
6.4

Security

MYOB
6.1
NetSuite
7.5
Single sign-on capability
MYOB
6.4
NetSuite
7.7
Role-based user permissions
MYOB
5.8
NetSuite
7.4

Reporting & Analytics

MYOB
5.6
NetSuite
6.2
Dashboards
MYOB
3.3
NetSuite
6.5
Standard reports
MYOB
7.1
NetSuite
6.1
Custom reports
MYOB
6.5
NetSuite
6.0

General Ledger and Configurable Accounting

MYOB
4.5
NetSuite
6.8
Accounts payable
MYOB
5.4
NetSuite
7.1
Accounts receivable
MYOB
6.4
NetSuite
7.3
Cash management
MYOB
5.4
NetSuite
Bank reconciliation
MYOB
7.0
NetSuite
Expense management
MYOB
7.4
NetSuite
Time tracking
MYOB
1.0
NetSuite
Fixed asset management
MYOB
5.5
NetSuite
Multi-currency support
MYOB
1.0
NetSuite
Multi-division support
MYOB
1.0
NetSuite
Regulations compliance
MYOB
5.0
NetSuite
Electronic tax filing
MYOB
5.0
NetSuite
Self-service portal
MYOB
4.0
NetSuite
Global Financial Support
MYOB
NetSuite
6.9
Primary and Secondary Ledgers
MYOB
NetSuite
7.7
Intercompany Accounting
MYOB
NetSuite
6.8
Localizations
MYOB
NetSuite
7.7
Journals and Reconciliations
MYOB
NetSuite
6.9
Enterprise Accounting
MYOB
NetSuite
7.6
Configurable Accounting
MYOB
NetSuite
7.6
Centralized Rules Framework
MYOB
NetSuite
5.8
Standardized Processes
MYOB
NetSuite
7.7

Inventory Management

MYOB
1.5
NetSuite
5.4
Inventory tracking
MYOB
3.0
NetSuite
6.1
Automatic reordering
MYOB
1.0
NetSuite
5.3
Location management
MYOB
1.0
NetSuite
5.4
Manufacturing module
MYOB
1.0
NetSuite
4.6

Order Management

MYOB
4.9
NetSuite
6.7
Pricing
MYOB
6.1
NetSuite
6.7
Order entry
MYOB
6.5
NetSuite
6.1
Credit card processing
MYOB
1.0
NetSuite
7.1
Cost of goods sold
MYOB
6.0
NetSuite
6.9
Order Orchestration
MYOB
NetSuite
6.8
End-to-end order visibility
MYOB
NetSuite
6.9
Order exception Resolution
MYOB
NetSuite
6.1

Subledger and Financial Process

MYOB
NetSuite
6.7
Automated Invoice Processing
MYOB
NetSuite
7.2
Shared Services Payments
MYOB
NetSuite
6.4
Billings Management
MYOB
NetSuite
6.7
Customer Receipt Applications
MYOB
NetSuite
6.8
Customer Collections
MYOB
NetSuite
7.2
Revenue Recognition
MYOB
NetSuite
7.6
Cash Management
MYOB
NetSuite
6.5
Asset Management
MYOB
NetSuite
5.8
Travel & Expense Management
MYOB
NetSuite
6.7
Budgetary Control & Encumbrance Accounting
MYOB
NetSuite
6.7
Period Close
MYOB
NetSuite
7.6
Transactions Tax
MYOB
NetSuite
6.8
Subledger Reconciliations
MYOB
NetSuite
6.7
3rd Party Accounting Systems
MYOB
NetSuite
5.5

Project Financial Management

MYOB
NetSuite
6.1
Budgeting and Forecasting
MYOB
NetSuite
5.5
Project Costing
MYOB
NetSuite
6.3
Cost Capture
MYOB
NetSuite
6.6
Capital Project Management
MYOB
NetSuite
6.8
Customer Invoicing
MYOB
NetSuite
6.6
Customer Contract Compliance
MYOB
NetSuite
7.3
Project Revenue Recognition
MYOB
NetSuite
5.9
Project Financial Performance Analysis
MYOB
NetSuite
6.2
Project Financials Dashboard
MYOB
NetSuite
5.8
Real-time Financial Reporting
MYOB
NetSuite
6.2
Embedded Business Intelligence
MYOB
NetSuite
4.7
Project Planning Collaboration
MYOB
NetSuite
4.8

Project Execution Management

MYOB
NetSuite
6.1
Project Planning and Scheduling
MYOB
NetSuite
5.0
Project Manager Dashboard
MYOB
NetSuite
4.7
Resource Manager Dashboard
MYOB
NetSuite
4.4
Task Insight for Project Managers
MYOB
NetSuite
6.0
Project Manager Mobile Functionality
MYOB
NetSuite
6.6
Team Member Task Collaboration
MYOB
NetSuite
6.0
Team Member Mobile Functionality
MYOB
NetSuite
6.6
Project Candidate Search
MYOB
NetSuite
6.4
Project Candidate Comparison and Analysis
MYOB
NetSuite
6.4
Defineable Resource Pools
MYOB
NetSuite
6.4
Defineable Resource Pools
MYOB
NetSuite
6.4
Talent Profiles
MYOB
NetSuite
5.8
Real-Time Project Reporting
MYOB
NetSuite
6.4
Absence Management
MYOB
NetSuite
7.0
Product Lifecycle Management
MYOB
NetSuite
7.0

Grants Management

MYOB
NetSuite
6.5
Award Lifecycle Management
MYOB
NetSuite
6.7
Spending Control
MYOB
NetSuite
6.7
Indirect Cost Management
MYOB
NetSuite
6.7
Billing
MYOB
NetSuite
5.8

Procurement

MYOB
NetSuite
6.6
Sourcing Team Collaboration
MYOB
NetSuite
7.1
Sourcing Analysis
MYOB
NetSuite
6.5
Bids Analyzed and Compared
MYOB
NetSuite
6.5
Catalog Shopping E-Commerce for Employees
MYOB
NetSuite
5.2
Contract Authoring
MYOB
NetSuite
6.1
Contract Compliance Management
MYOB
NetSuite
6.1
Contract History
MYOB
NetSuite
6.1
Contract Renewal Automation
MYOB
NetSuite
6.0
Contract Repository
MYOB
NetSuite
6.0
Contract Standardization and Enforcement
MYOB
NetSuite
6.0
Electronic Signatures
MYOB
NetSuite
6.5
Invoice Automated Matching
MYOB
NetSuite
6.5
Purchasing Risk and Compliance Management
MYOB
NetSuite
6.4
Requisitions-to-Purchase Orders Integrated
MYOB
NetSuite
7.1
Spend Compliance Management
MYOB
NetSuite
7.7
Supplier Assessment
MYOB
NetSuite
7.0
Supplier Communication and Collaboration
MYOB
NetSuite
7.1
Supplier Management
MYOB
NetSuite
7.8
Supplier Portal
MYOB
NetSuite
7.0

Risk Management

MYOB
NetSuite
6.7
Risk Repository
MYOB
NetSuite
7.0
Control Management
MYOB
NetSuite
6.4
Control Mapping
MYOB
NetSuite
6.4
Control Efficiency Assessments
MYOB
NetSuite
6.4
Automated Control Assessments
MYOB
NetSuite
6.4
Assessment Capture
MYOB
NetSuite
7.0
Issue Detection
MYOB
NetSuite
7.0
Automatic Notification
MYOB
NetSuite
7.0
Remediation and Certification
MYOB
NetSuite
6.4

Logistics

MYOB
NetSuite
4.2
Transportation Planning and Optimization
MYOB
NetSuite
4.1
Transportation Sourcing Management
MYOB
NetSuite
4.2
Transportation Process Integration
MYOB
NetSuite
5.0
Transportation Execution Management
MYOB
NetSuite
4.1
Freight Payment Automation
MYOB
NetSuite
4.1
Trade Management
MYOB
NetSuite
3.6
Trade Regulatory Compliance Management
MYOB
NetSuite
6.0
Customs Entry Management
MYOB
NetSuite
4.1
Customs Document Management
MYOB
NetSuite
3.4
Customs Document Collaboration
MYOB
NetSuite
3.1
Fulfillment Management
MYOB
NetSuite
3.8
Inventory Visibility
MYOB
NetSuite
5.0
Warehouse Workforce Management
MYOB
NetSuite
4.4

Manufacturing

MYOB
NetSuite
5.2
Production Process Design
MYOB
NetSuite
4.9
Supply Chain Business Flows
MYOB
NetSuite
4.1
Production Management
MYOB
NetSuite
4.1
Contracted Manufacturing Management
MYOB
NetSuite
3.9
Configuration Management
MYOB
NetSuite
7.7
Work Definition
MYOB
NetSuite
3.5
Work Execution
MYOB
NetSuite
4.5
Advanced Fulfillment
MYOB
NetSuite
7.3
Manufacturing Costs
MYOB
NetSuite
6.3

Supply Chain

MYOB
NetSuite
5.1
Forecasting
MYOB
NetSuite
4.6
Inventory Planning
MYOB
NetSuite
4.1
Multi-tier Supply Chain Planning
MYOB
NetSuite
6.8
Performance Monitoring
MYOB
NetSuite
4.8

Product Lifecycle Management

MYOB
NetSuite
4.7
Ideation Management
MYOB
NetSuite
4.6
Requirements Management
MYOB
NetSuite
7.0
Proposal Management
MYOB
NetSuite
3.6
Innovation Portfolio Management
MYOB
NetSuite
4.1
Product Master Data Management
MYOB
NetSuite
4.1
Vendor Portal
MYOB
NetSuite
4.7
Project Portfolio Management
MYOB
NetSuite
4.6

Pros

MYOB

  • Invoices
  • Purchase Orders
Anonymous | 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

MYOB

  • Allows the client to manipulate dates when that can screw up their books
  • constantly freezes which causes the file to be corrupt
  • force balances the balance sheet
Kati Hesley | 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

MYOB

MYOB 9.5
Based on 2 answers
We have been looking in to other cloud based accounting options.
Anonymous | 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

MYOB

MYOB 10.0
Based on 1 answer
It is easy to use - I just don't agree with restrictions and functionality
Kati Hesley | 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

MYOB

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

MYOB

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

MYOB

MYOB 1.0
Based on 1 answer
They aren't willing to help at all unless you pay
Kati Hesley | 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

MYOB

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

MYOB

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

MYOB

MYOB 5.0
Based on 1 answer
No answer on this topic is available.

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

MYOB

Not even close. Though I will say MYOB had a budget module where Zoho Books doesn't which is one thing severely lacking in Zoho Books. On the other hand, Zoho Books allows for payment processing integration without trying to get a cut from the process whereas MYOB allowed for payment processing but you had to go through their service only and it wasn't cheap.
Stephen Lalla | 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

MYOB

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

MYOB

  • MYOB dropped software updates for Apple IOS
  • Lack of software updates / support had a MAJOR NEGATIVE IMPACT
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

Pricing Details

MYOB

General

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

NetSuite

General

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

Rating Summary

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