NetSuite ERP vs. Workday Financial Management

Overview
ProductRatingMost Used ByProduct SummaryStarting Price
NetSuite ERP
Score 8.0 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
Workday Financial Management
Score 8.2 out of 10
N/A
Workday Financial Management is built on a global foundation that provides organizations with the core financial management capabilities expected from a modern cloud solution. It goes well beyond just managing financial processes to achieve greater insight, improve financial consolidation and reduce time to close, instill internal control and auditability, and achieve consistency across global operations. By using an in-memory architecture and object data model,…N/A
Pricing
NetSuite ERPWorkday Financial Management
Editions & Modules
No answers on this topic
No answers on this topic
Offerings
Pricing Offerings
NetSuite ERPWorkday Financial Management
Free Trial
NoNo
Free/Freemium Version
NoNo
Premium Consulting/Integration Services
NoNo
Entry-level Setup FeeNo setup feeNo setup fee
Additional DetailsUsers 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.
More Pricing Information
Community Pulse
NetSuite ERPWorkday Financial Management
Considered Both Products
NetSuite ERP
Chose NetSuite ERP
NetSuite is much more customizable than Sage Intacct and Quickbooks but not as much as Workday Financials, Oracle or Infor Financials
Chose NetSuite ERP
for the price point and that would handle our usage billing needs Sage Intacct was the only option that competed -- visually and some key feature like saved searches/export, reporting and NSPB pushed NetSuite about Sage -- but overall we liked and trusted the sales team at …
Chose NetSuite ERP
NetSuite ERP is user friendly and allows for us to implement and deploy solutions without much help from the IT department. It also is a "fluid" solution that utilizes a relational database which allows for transactions and records to be connected.
Chose NetSuite ERP
NetSuite has selected as it has manufacturing module and order routing capabilities.
Chose NetSuite ERP
NetSuite is as fully featured as other providers at a more competitive price. Easiest to implement versus some of the largest providers. Has a robust network of 3rd party consultants to draw upon for implementation and to hire into the office of finance.
Workday Financial Management

No answer on this topic

Top Pros
Top Cons
Features
NetSuite ERPWorkday Financial Management
Payroll Management
Comparison of Payroll Management features of Product A and Product B
NetSuite ERP
1.1
15 Ratings
146% below category average
Workday Financial Management
8.3
19 Ratings
16% above category average
Pay calculation1.013 Ratings8.519 Ratings
Benefit plan administration1.010 Ratings8.716 Ratings
Direct deposit files1.39 Ratings8.416 Ratings
Customization
Comparison of Customization features of Product A and Product B
NetSuite ERP
9.2
74 Ratings
24% above category average
Workday Financial Management
8.3
17 Ratings
14% above category average
API for custom integration9.264 Ratings8.414 Ratings
Plug-ins9.747 Ratings8.316 Ratings
Security
Comparison of Security features of Product A and Product B
NetSuite ERP
9.4
81 Ratings
16% above category average
Workday Financial Management
8.9
21 Ratings
11% above category average
Single sign-on capability9.462 Ratings8.921 Ratings
Role-based user permissions9.580 Ratings8.919 Ratings
Reporting & Analytics
Comparison of Reporting & Analytics features of Product A and Product B
NetSuite ERP
9.6
72 Ratings
32% above category average
Workday Financial Management
8.6
24 Ratings
21% above category average
Dashboards9.671 Ratings8.424 Ratings
Standard reports9.670 Ratings8.920 Ratings
Custom reports9.670 Ratings8.518 Ratings
General Ledger and Configurable Accounting
Comparison of General Ledger and Configurable Accounting features of Product A and Product B
NetSuite ERP
7.8
274 Ratings
3% above category average
Workday Financial Management
8.5
19 Ratings
11% above category average
Accounts payable8.3268 Ratings8.914 Ratings
Accounts receivable8.2247 Ratings9.014 Ratings
Global Financial Support9.726 Ratings8.315 Ratings
Primary and Secondary Ledgers9.828 Ratings8.715 Ratings
Journals and Reconciliations9.341 Ratings8.912 Ratings
Configurable Accounting9.735 Ratings8.215 Ratings
Standardized Processes9.737 Ratings9.016 Ratings
Inventory Management
Comparison of Inventory Management features of Product A and Product B
NetSuite ERP
8.9
48 Ratings
14% above category average
Workday Financial Management
8.7
8 Ratings
11% above category average
Inventory tracking9.947 Ratings9.08 Ratings
Automatic reordering8.828 Ratings8.68 Ratings
Location management9.435 Ratings8.57 Ratings
Order Management
Comparison of Order Management features of Product A and Product B
NetSuite ERP
9.1
219 Ratings
17% above category average
Workday Financial Management
9.2
9 Ratings
18% above category average
Pricing9.653 Ratings00 Ratings
Order entry8.0215 Ratings00 Ratings
Credit card processing8.737 Ratings9.29 Ratings
Cost of goods sold9.148 Ratings00 Ratings
Order Orchestration9.821 Ratings00 Ratings
Subledger and Financial Process
Comparison of Subledger and Financial Process features of Product A and Product B
NetSuite ERP
7.7
215 Ratings
4% above category average
Workday Financial Management
-
Ratings
Billing Management8.3204 Ratings00 Ratings
Cash and Asset Management9.727 Ratings00 Ratings
Travel & Expense Management9.231 Ratings00 Ratings
Budgetary Control & Encumbrance Accounting8.827 Ratings00 Ratings
Period Close9.735 Ratings00 Ratings
Project Financial Management
Comparison of Project Financial Management features of Product A and Product B
NetSuite ERP
6.5
32 Ratings
16% below category average
Workday Financial Management
-
Ratings
Budgeting and Forecasting5.926 Ratings00 Ratings
Project Costing5.923 Ratings00 Ratings
Cost Capture5.922 Ratings00 Ratings
Capital Project Management4.014 Ratings00 Ratings
Customer Contract Compliance9.713 Ratings00 Ratings
Project Revenue Recognition6.822 Ratings00 Ratings
Project Execution Management
Comparison of Project Execution Management features of Product A and Product B
NetSuite ERP
4.1
17 Ratings
49% below category average
Workday Financial Management
-
Ratings
Project Planning and Scheduling8.814 Ratings00 Ratings
Task Insight for Project Managers3.311 Ratings00 Ratings
Project Mobile Functionality3.010 Ratings00 Ratings
Definable Resource Pools3.68 Ratings00 Ratings
Grants Management
Comparison of Grants Management features of Product A and Product B
NetSuite ERP
3.1
12 Ratings
82% below category average
Workday Financial Management
-
Ratings
Award Lifecycle Management3.57 Ratings00 Ratings
Procurement
Comparison of Procurement features of Product A and Product B
NetSuite ERP
3.3
19 Ratings
70% below category average
Workday Financial Management
-
Ratings
Bids Analyzed and Compared3.58 Ratings00 Ratings
Contract Authoring1.910 Ratings00 Ratings
Contract Repository3.58 Ratings00 Ratings
Requisitions-to-Purchase Orders Integrated3.613 Ratings00 Ratings
Supplier Management9.813 Ratings00 Ratings
Risk Management
Comparison of Risk Management features of Product A and Product B
NetSuite ERP
3.1
11 Ratings
70% below category average
Workday Financial Management
-
Ratings
Risk Repository3.48 Ratings00 Ratings
Control Management1.911 Ratings00 Ratings
Control Efficiency Assessments3.57 Ratings00 Ratings
Issue Detection3.58 Ratings00 Ratings
Remediation and Certification3.58 Ratings00 Ratings
Logistics
Comparison of Logistics features of Product A and Product B
NetSuite ERP
3.0
17 Ratings
76% below category average
Workday Financial Management
-
Ratings
Transportation Planning and Optimization2.89 Ratings00 Ratings
Transportation Execution Management2.88 Ratings00 Ratings
Trade and Customs Management2.88 Ratings00 Ratings
Fulfillment Management9.814 Ratings00 Ratings
Warehouse Workforce Management2.511 Ratings00 Ratings
Manufacturing
Comparison of Manufacturing features of Product A and Product B
NetSuite ERP
9.2
16 Ratings
22% above category average
Workday Financial Management
-
Ratings
Production Process Design8.812 Ratings00 Ratings
Production Management8.814 Ratings00 Ratings
Configuration Management9.810 Ratings00 Ratings
Work Execution9.812 Ratings00 Ratings
Manufacturing Costs8.814 Ratings00 Ratings
Supply Chain
Comparison of Supply Chain features of Product A and Product B
NetSuite ERP
8.1
140 Ratings
14% above category average
Workday Financial Management
-
Ratings
Forecasting8.417 Ratings00 Ratings
Inventory Planning7.4137 Ratings00 Ratings
Performance Monitoring8.814 Ratings00 Ratings
Product Lifecycle Management
Comparison of Product Lifecycle Management features of Product A and Product B
NetSuite ERP
3.8
13 Ratings
61% below category average
Workday Financial Management
-
Ratings
Proposal Management2.510 Ratings00 Ratings
Product Master Data Management3.29 Ratings00 Ratings
Best Alternatives
NetSuite ERPWorkday Financial Management
Small Businesses
Acumatica
Acumatica
Score 8.8 out of 10
Acumatica
Acumatica
Score 8.8 out of 10
Medium-sized Companies
Infor VISUAL
Infor VISUAL
Score 6.8 out of 10
Infor VISUAL
Infor VISUAL
Score 6.8 out of 10
Enterprises
SAP Business ByDesign
SAP Business ByDesign
Score 8.4 out of 10
SAP Business ByDesign
SAP Business ByDesign
Score 8.4 out of 10
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User Ratings
NetSuite ERPWorkday Financial Management
Likelihood to Recommend
8.4
(374 ratings)
8.8
(24 ratings)
Likelihood to Renew
9.2
(49 ratings)
9.0
(1 ratings)
Usability
8.5
(233 ratings)
9.7
(5 ratings)
Availability
9.0
(16 ratings)
-
(0 ratings)
Performance
8.0
(15 ratings)
-
(0 ratings)
Support Rating
7.1
(216 ratings)
9.8
(5 ratings)
In-Person Training
7.3
(2 ratings)
-
(0 ratings)
Online Training
6.4
(10 ratings)
-
(0 ratings)
Implementation Rating
6.3
(17 ratings)
-
(0 ratings)
Configurability
8.7
(5 ratings)
-
(0 ratings)
Ease of integration
7.3
(3 ratings)
-
(0 ratings)
Product Scalability
9.0
(8 ratings)
-
(0 ratings)
Vendor post-sale
4.8
(2 ratings)
-
(0 ratings)
Vendor pre-sale
5.0
(1 ratings)
-
(0 ratings)
User Testimonials
NetSuite ERPWorkday Financial Management
Likelihood to Recommend
NetSuite
Netsuite ERP is well suited to helping facilitate a smooth procurement process, raising purchase orders and managing invoices. We use it to set up new suppliers and for global organisations with multiple cost centres, suppliers, agencies, activities etc. it is very good at managing a high volume of different suppliers and activities. It has a relatively navigable interface but could stand to be a bit more simple / modern and automated. It is quite aggressively busy on screen vs some other simplified interfaces
Read full review
Workday
Workday is well suited for managing employees throughout their full life cycle. It excels at housing employee data from the start of their time with the company through their departure. Workday is less suited to payroll functions, which could be more robust.
Read full review
Pros
NetSuite
  • Revenue recognition. We get information from Salesforce and we build the revenue recognition engine that I'm really pleased. We avoid a lot of manual work by doing this.
  • We send out invoices electronically from the system. We use it for the fixed asset now with the new lease opinion that we just adopted in January 2022. We leveraged technology, specifically the features in NetSuite to help us account for that.
Read full review
Workday
  • The flexibility of going beyond handling the accounts, where we can handle cash, assets, and accounting simultaneously for the customer.
  • The single platform offers grants management where you can organize the lifecycle of the grants and synchronize it with any criteria of grant closing out scheme.
  • I personally liked Project billing with the essence of evaluating project revenue and nice reporting templates that can be shared with the customer at any stage of the project while having the flexibility of auditing the reported cost.
Read full review
Cons
NetSuite
  • Certain exports out of the system. There are some pages that you can export to Excel and some pages you can't, I don't know why. So it seems like it should be all functionalities there.
  • Some of the bank feeds have broken quite a bit and I'm not sure why. So we have to constantly go in there and readjust that on the reconciliation tab. I know that's new and robust and it's going well. It's more of taking out GL data instead of what's remaining in that account. As far as if I'm looking at a rec for a particular asset, I know there's GL data that goes through there. What I want to know is what's the balance in that account made up of as far as what's remaining there. So that's the kind of stuff I would buy with advice.
Read full review
Workday
  • Some of the Workday updates last till like 10 in the morning which prevents employees to clock in and check their times and some cases their schedules
  • Workday can work on opening documents quicker instead of taking couple of minutes or notifying the user when they are ready to download
Read full review
Likelihood to Renew
NetSuite
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.
Read full review
Workday
No answers on this topic
Usability
NetSuite
As a user, it is a steep learning curve with little to no guidance. Oracle relies pretty much only on their massive documentation library and does very little to guide users in context. As an Administrator, it's frustrating that field naming is totally different depending on your context.
Read full review
Workday
Workday is easy enough navigate, as long as it is properly set up. With that said, it can be put together in a modular fashion as well, allowing for a very high degree of flexibility in terms of design and process delegation. Finally, it makes consolidation achievable in times previously unthinkable.
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Reliability and Availability
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
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Workday
No answers on this topic
Performance
NetSuite
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.
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Workday
No answers on this topic
Support Rating
NetSuite
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.
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Workday
Our support team has been awesome. They are extremely knowledgeable and have been able to guide us through all of the challenges we have faced. Workday's community online is also extremely helpful with many trainings and help topics that can be reviewed at your convenience.
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In-Person Training
NetSuite
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
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Workday
No answers on this topic
Online Training
NetSuite
Online training is quite strong. I have used for specific pieces of functionality.However it is not sufficient in all areas.
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Workday
No answers on this topic
Implementation Rating
NetSuite
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.
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Workday
No answers on this topic
Alternatives Considered
NetSuite
We came from an AS400 system. NetSuite is supremely advanced and more capable than our old system. We initially selected NetSuite for its reporting and analytics capabilities. From there, we looked at its automation and manufacturing capabilities. It has really outclassed our old system at every turn—it is not even close.
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Workday
Despite Airtable also being easier to use one thing that differentiates and put forth Workday Financial Management tool above is it's key features and better suited functionality for handling confidential data. The other positive note where Workday Financial Management performs high is it key analytics tool that's easier to use and representation of information into insightful dashboards.
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Scalability
NetSuite
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.
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Workday
No answers on this topic
Return on Investment
NetSuite
  • Really it's been nothing but positive for us right now. My team is super excited to get to use it every day. They love the interface is easy to use. The fact that we've got all the security and audit logs in there gives me comfort as the senior finance person to be able to understand what's going on to track it, but it's also not bogged down in unnecessary bureaucratic processes or administrative processes. It allows our team to be very responsive and dynamic and that's great for us.
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Workday
  • We were able to combine 4 different HR modules into one system.
  • We reduced data breach incidents by 95% after shifting to Workday. One of our legacy softwares had vulnerabilities.
  • The initial learning curve was higher than projected. We spent about a week to 10 days extra time deploying it, which affected the profit center that year.
Read full review
ScreenShots

NetSuite ERP Screenshots

Screenshot of one view into the most critical business processes.Screenshot of Netsuite's mobile-friendly design