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NetSuite ERP

Score8.1 out of 10

1,365 Reviews and Ratings

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What is NetSuite ERP?

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

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Top Performing Features

  • Inventory tracking

    The software syncs orders and stock to maintain a real-time picture of inventory and supports multiple methods such as LIFO and FIFO.

    Category average: 8

  • Dashboards

    Users can create, customize and share dashboards, which provide an overview of the most important metrics.

    Category average: 7.6

  • Standard reports

    The software offers pre-built reports with metrics standard to the category.

    Category average: 7.3

Areas for Improvement

  • Direct deposit files

    Direct deposit is the ability to electronically transfer pay to an employee’s personal bank account.

    Category average: 7.6

  • Pay calculation

    Pay calculation provides for computation of employee pay with state and federal deductions.

    Category average: 7.5

  • Benefit plan administration

    Benefit plan administration is administration of health insurance plans and 401k plans, and other benefits.

    Category average: 7.4

NetSuite ERP - The Right Scale for your Business

Use Cases and Deployment Scope

We moved from SAGE 100 v2017 to NetSuite ERP in 2019.

We had gotten to a point where scaling our manufacturing business and processes could no longer be completed in Sage 100. NetSuite ERP provided the scalability and automatic upgrades process that was much easier than trying to manually update the core Sage and 14 bolt-on's. NetSuite ERP provides a very strong core system and offers the bundles you need, ad hoc, instead of buying a core with a bunch of processes that you won't use but still have to pay for. When we want a new piece, it is clear where we can look and there is always support that understands.

Pros

  • It is an accounting system first and foremost.
  • We can add Manufacturing/Inventory features that we need for a manufacturing environment.
  • System Information/System Notes - Tracking of changes to almost everything. This is incredibly helpful for audits and investigations.
  • NetSuite ERP is integrating AI into their processes which will be super interesting!

Cons

  • Full Physical Inventory Program - Currently is missing. Unable to freeze inventory, which makes the 'refresh' of the counts and location accuracy incredibly difficult. Had to utilize the Stock Count Process and work in a manual way to deal with if we found an item in a bin... how does it get noted as being added? If a bin shows that there is an item in a bin, but it is not there, how do we remove it?
  • It appears NetSuite ERP is releasing a more automated version of Smart Count, so hopefully that will bring the Annual Physical Inventories into a less manual process.
  • Financial Reporting is a bit lacking due to the way some data changes where it can be accessed after the close of a month/period/year.
  • Uniformity of how certain functions behave for similar transactions. If an Invoice can be Printed or Emailed, so should a Credit Memo. It really dont make sense to not have the pint/email engine work for any transaction that could potentially need to go to a customer.
  • Statement behavior to send statements to CHILD customers vs. a Statement Roll-up to the Parent. We currently have to use a customization to manage this and it seems to not work well.

Return on Investment

  • Days to close reduced dramatically!
  • Sales Order Entry Speed/Accuracy due to easy integration of EDI, Website and LetLucy programs allow our customer service team the time to focus on the customer experience and not feel overwhelmed with the number of orders they have to manually enter after they get off the phone.

Usability

Alternatives Considered

Sage 100

Other Software Used

RF-SMART WMS, Paylocity, Datapipe Cloud Analytics, sales-i, Profit.co, Celigo

NetSuite one stop ERP Solution.

Use Cases and Deployment Scope

I use NetSuite daily to process invoices and employee expense reports. It is wonderful to have all the vendor information in one place, including contact information, vendor payment history, and a place to store documents, such as W-9 and banking information. Then, to be able to simply change roles to manage Employee files and employee expenses.

Pros

  • Report Building and Searches.
  • Payment processing.
  • Invoice and W9 Storage solution.

Cons

  • I have found it to be a bit slow sometimes when saving.
  • I am not sure if this is Chase Bank or NetSuite, but a direct link to upload bank transactions or credit card transactions would be nice.
  • This is too hard, bc Netsuite works really well.

Return on Investment

  • Netsuite speeds up transaction processing.
  • Not having to pay for extra storage solutions outside of the ERP is nice.
  • User friendly and easy to find answers with in the Suite Answers.

Usability

Alternatives Considered

BillMatrix and from Fiserv

Other Software Used

Microsoft 365, Tettra

My experience with NetSuite ERP as a Cost engineer.

Use Cases and Deployment Scope

We use NetSuite ERP to manage our daily business processes and operations. The software helps us in expense tracking, billing, invoicing, and employee payroll management. It has a wide range of features and systems that enhance service delivery. NetSuite ERP is user-friendly and can be accessed from anywhere.

Pros

  • The software is easy to set up and it can be tailored to meet specific work objectives.
  • Seamless integration of the product with third party applications.
  • The software is well suited in inventory management and financial processes management.

Cons

  • The software has poor custom reporting systems.
  • Limited invoice customization.

Return on Investment

  • NetSuite software has improved our process controls and enhanced cash management, especially in huge projects.
  • The software has helped us with budgeting, forecasting, and real-time financial reporting.
  • Introduction of NetSuite ERP into our organisation has completely changed the way we do things by enhancing compliance, ensuring real-time project milestone tracking, and enabling portfolio management.

Usability

Other Software Used

Rippling, Acumatica, IBM Guardium

Longtime user and big fan of NetSuite ERP

Use Cases and Deployment Scope

NetSuite is our one source of truth for customer records, order management, and inventory control. We are a manufacturing company that uses many of the modules to manage all facets of our business, including recurring revenue from subscription billing for a software product. Having a complete ERP system allows our different departments to coordinate efficiently.

Pros

  • Accounting
  • 3rd party software integration
  • Inventory control

Cons

  • It is very flexible but you often need an expert to set up something custom.
  • Unexpected changes from software updates including 3rd part integrations.
  • Unavailability of basic support for obvious bugs/problems.

Return on Investment

  • Inventory control and allocating inventory to approved orders
  • Estimate management and customer follow-up
  • Automation on billing and Accounts Receivable

Usability

Alternatives Considered

IFS Cloud, SAP Cloud ERP, Epicor Kinetic and Microsoft Dynamics 365

Other Software Used

ShipStation, SOLIDWORKS

19 Years of NetSuite ERP

Use Cases and Deployment Scope

[...] uses a wide range NetSuite ERP products. Accounting and Finance are the strong points of NetSuite ERP, but we use MRP, RFSmart and FAM among other products to accomplish our goals.

We have 5 subsidiaries in the USA and Canada and are actively adding new subsidiaries in 3 different industries. We were able to have the same processes and systems across all subsidiaries and industries.

Pros

  • Accounting/Finance
  • Inventory Management
  • Saved Searches
  • Fixed Asset Management

Cons

  • Project Management
  • Calendars - ie; Scheduling Work Orders
  • Employee Management/Payroll

Return on Investment

  • Automation through scripting can be expensive. ie; $2500+ for a simple task. The ROI is very often not worth the effort.
  • CSV Imports remain the best ROI for updating data in large volumes

Usability

Alternatives Considered

Acumatica

Other Software Used

Microsoft Power BI, Microsoft Excel