NetSuite ERP vs. Penny Software

Best suited for mid-market to lower scale enterprises (under 2,000 employees) especially if migrating from Quickbooks or another fragmented small business system. Also, multi-entity and global operational businesses are very well suited as there is robust functionality around multi-subsidiary, multi-currency and multi-tax controls. Finally, businesses with inventory & supply chain heavy businesses would find the functionality very useful as the system allows warehouse management, lot/batch tracking, fulfillment, etc. Not well suited for startups (a lot of functionality not needed) or very small businesses (under $3mm in revenues). Overkill in complexity and cost and implementation leg-work is necessary relative to the underlying operations of the business. Also, companies with a heavy manufacturing business (shop floor execution) lacks depth with true manufacturing ERPs like Epicor, Infor, etc. and companies expecting consumer grade UX feels like the interface isn't modern or very intuitive right out of the box.

Incentivized

As previously stated, the use of Penny Software is great for the procurement of equipment required to do our jobs. We have seen a number of vendors come up with great pricing options for us to use. This way we have saved large amounts of money which we could invest in other areas of the business.

Incentivized

• It gives high flexibility to maintain different kind of financial data with ease. It also support 606 standard.
• Customisation is a key, whereas we can do as many customisation based on our critical financial need.
• It is cloud based and easily scalable.

Incentivized

• Simple UI
• Large customization options
• Quick file imports

Incentivized

• The area for the largest improvement needed is the implementation process. Especially when it comes down to an accounting based ERP setup rather than a CRM model. The experts should have accounting backgrounds in addition to the system knowledge for implementation.
• There should be more training focused on the Dashboards and the maneuverability of the data focused for each graph or report within the dashboards.
• The AP system is a little problematic with more complex company hierarchy. Due to the AP Invoice headers being driven by "main line" but the expense distribution being driven by journal entries - the AP aging is hard to verify the accuracy and can be distorted by different types of transactions.

Incentivized

• More tutorials on features via YouTube

Incentivized

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.

Incentivized

NetSuite is a cloud tool, and is easy to implement for mid-sized organizations. It comes with standard forms/ printing layouts, and financial reporting (both summary and detailed), which are very handy for business users. In addition to these, with 99.99% service availability, NetSuite makes it one of the most reliable ERP tools available on the market.

Incentivized

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.

Incentivized

I would like to give 8 rating for NetSuite support and reason for that is below: Whenever we faced any technical or functional issues we tried to reach out to NEtSuite support but response was not immediate. We told them about the urgency of the issue but still we were not getting response on time. Then, we have to reach out to AE to get things resolved.

Incentivized

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

Online training is quite strong. I have used for specific pieces of functionality.However it is not sufficient in all areas.

I felt NetSuite Professional Services did an excellent job of guiding us in the implementation. I also felt our internal teams were a little resistant to the change and engagement of new software. Had we performed better engaging and buying into the new software, I would be able to rate the implementation better. Therefore, the lower number should not be viewed as a deficiency with the software or the professional services teams, but as an reminder of how important complete buy-in from the local users is.

Incentivized

QuickBooks Online is, by far, a better and easier-to-use product for smaller companies. Only switch to Netsuite if you have to. We switched to NetSuite because we have numerous subsidiaries, and QuickBooks would not be able to handle the complexity.

Incentivized

Penny Software has a great UI with a great support system. We are able to alter what we see and how we see particular data. This makes it easier for us to make decisions based on the information provided in a convenient manner. The support from the Penny team makes it easy for us to make adjustments to whatever we require out of the software, it also helps the team to get familiar with features they may have never used before.

Incentivized

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.

• NetSuite ERP has allowed us to see more clear details around where our business is financially which leads to smarter business decisions.
• NetSuite ERP has freed up time that was spent on certain functions in our old accounting software, leading to more efficiency.
• NetSuite ERP has given us more visibility across business divisions.

Incentivized

• Positive ROI, is not particularly tangible, but the time saved meant that staff can focus on other projects

Incentivized