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.
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Paradigm
Score 9.0 out of 10
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Paradigm is an oil and gas oriented exploration and seismic analytics platform, now owned and supported by Emerson since the 2018 acquisition.
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Pricing
NetSuite ERP
Paradigm
Editions & Modules
No answers on this topic
No answers on this topic
Offerings
Pricing Offerings
NetSuite ERP
Paradigm
Free Trial
No
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. The 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. New modules and users and can be added as a business grows.
In my experience, it is well-suited to basic small low-level accounting. I think if you are a very small business with some basic accounting needs and do not need both cash and accrual reporting this would work. However, I think the price point is well above what a company should pay for basic accounting. If you need more advanced accounting, in my experience it can't keep up well, and it will not provide you with both cash and accrual reports. In my opinion, it is priced for a much more advanced software than what it needs, perhaps because they focus on non-essential upgrades and areas that don't pertain to core financial activities, such as advanced inventory management, Amazon shipping label sync, multiple foreign (non-us) taxes, manufacturing updates - for businesses needing strong financial software that do not need ten country tax rates, manufacturing processes, and advanced inventory tracking, this provides no value while leaving standard accounting functions pretty basic and lacking.
The Paradigm geologic and petrophysical interpretation software suite offers a complete package for integrated projects where a team starts from offset well data and leads all the way to mapping of horizons, properties and reservoir models. Geolog, the petrophysical module, is very powerful and versatile. Although they offer separate add-ons, for smaller projects where the petrophysical interpretation is done by a third-party, even the minimum package might be overkill.
Geolog is extremely robust and powerful in handling large volumes of logs per well and a large number of wells, which is an asset for basin-scale projects.
Geolog is very flexible in terms of customizing log layout presentations and calculating anything via mathematical or logical expressions.
Epos display of fluid production data is very useful in cross-analyzing maturity and organic content versus hydrocarbons produced.
Geolog could use a LAS batch loading graphical interface that doesn't require the use of prompt commands.
Geolog's geologic intervals display has improved in the last versions, but it's still cumbersome to set up and maintain (i.e. adding new intervals, changing stratigraphy).
SKUA-Paradigm should support geographic coordinates in order to avoid the workaround of creating pseudo-coordinates across UTM zone boundaries.
NetSuite is able to cover all of our needs, spanning multiple departments and managerial levels. We use it daily for a multitude of functions, including creating promotions, estimating inventory, pulling historical reports, forecasting sales, and more. Overall, we're very satisfied with NetSuite as an ERP solution and recommend it to medium to large businesses.
I would rate the overall usability as a 9. We can perform almost all functions that we need to as a baseball organization. The only areas that are lacking are the reporting and budgeting functions. There was a steep learning curve for some users in the beginning, but once we figured out how to utilize the system and improve our processes within NetSuite most users were happy with the switch to NetSuite.
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.
NetSuite offers two levels of support Basic (included with the subscription and for bug-fix questions only) and Premium (an additional add-on that allows for the asking of anything at any time). Support is well versed and quickly moves to higher levels when needed. Tickets are always address promptly, and are never abandoned.
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
NetSuite was the obvious choice in our case because of the enterprise backing of Oracle and the support available for the platform from both the Oracle side as well as on the open market through Consultants and Partner firms. While it's price point is vastly different, considering ERPNext has a completely free community offering, and Odoo's very entry-level price point... it was a clear choice for us due to our need for a tried and true solution.
Regarding the petrophysical modules, I have used other petrophysical software packages, and Paradigm is superior in data handling, visualization, flexibility, and batch calculations. Regarding the mapping and modeling, Paradigm is on par with other software I used on the same scale. SKUA-Gocad has some advantages over its main competitor, in terms of data manipulation, but the inability to handle geographic coordinates has a negative impact on my work efficiency.
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.
Through the automation of business processes, NetSuite has allowed the business to focus on other projects in addition to the day to day system administration tasks. As such, the system is providing excellent value in terms of the time saved by the administrative arm of the company.
Access to data. The platform has great flexibility in it's "Saved Search" feature, that allows the business to report on pretty much any and all data stored in the database. These can drive user dashboards and make it extremely easy for users to get the information that they need in a matter of seconds. Instead of the CFO requesting a report from the Controller, the CFO can simply refresh their dashboard with a single click and they have the information they require.
Transparency. NetSuite allows collaboration across the entire business and maintains an excellent audit trail. Transparency is often lost where business use multiple systems across departments, so having everyone housed within the same financial system allows for greater collaboration and trust in the data.
Paradigm Geolog has allowed us to handle the vast quantities of well log data in order to achieve our research goals and deliver the results to the sponsoring companies.
Paradigm Epos and SKUA-GOCAD have made possible to map the results of our petrophysical analysis on a basin-wide scale encompassing two provinces, without which our research deliverables would not have been possible.
