NetSuite ERP

Score8.1 out of 10

1,415 Reviews and Ratings

NetSuite

NetSuite ERP

NetSuite

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.

Categories & Use Cases

Media

Screenshot of NetSuite Cash 360 Dashboard

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Screenshot of Roles-based dashboards

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: 7.5
Standard reports
The software offers pre-built reports with metrics standard to the category.
Category average: 7.3

Direct deposit files
Direct deposit is the ability to electronically transfer pay to an employee’s personal bank account.
Category average: 7.8
Pay calculation
Pay calculation provides for computation of employee pay with state and federal deductions.
Category average: 7.7
Benefit plan administration
Benefit plan administration is administration of health insurance plans and 401k plans, and other benefits.
Category average: 7.6

Most Frequent Users

Top 3 industries using NetSuite ERP.

Based on HG Insights installation data

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#1 most frequent

Professional, Scientific, and Technical Services

16.4%

2,322 installations of 14,172

“I use NS in our organization to do everything from booking journal entries, creating reports, publishing financials, maintaining fixed assets, issuing debt and recognizing revenue and lease liabilities/assets.”
— Controller, Ankura

#2 most frequent

Manufacturing

13.8%

1,952 installations of 14,172

“Days to close reduced dramatically!”
— Computer and Information Systems Manager, ATRO Parts

#3 most frequent

Information

12.2%

1,732 installations of 14,172

Pros

Robust reporting and saved search functionalities
Extensive customization and flexibility for specific operational needs
Strong core accounting and financial management capabilities

Cons

Complexity of customization often requires expert intervention
Dated and clunky User Interface and User Experience
System slowness impacting saving times and workflow efficiency

Jordan Davis View profile

Website Manager in Professional Services at BoxoUSA (11-50 employees)

Use Cases and Deployment Scope

NetSuite ERP is the master of all of our financial data. We use it to track inventory across multiple warehouses, record transactions, and track P&L. I am the administrator for our NetSuite ERP account and I am responsible for maintaining accuracy of our data as it syncs from our Shopify stores to our NetSuite ERP instance. I am in charge of creating scripts and workflows for custom needs we may have. I am also in charge of innovating for our team. What that means is that I am in charge of teaching our team how to use the vast amount of features that NetSuite ERP offers so that we can do our jobs more efficiently and effectively. For example, I am teaching our warehouse team how to use NetSuite ERP modules for shipping and fulfillment right now. After this I will move on to advanced procurement features to help us with supply chain management.

Pros

NetSuite ERP is an open slate with endless customization options designed to allow users to make NetSuite ERP work for how their company does things. I am able to create scripts, custom workflows, and install applications and modules to tailor the program to fit my companies needs.
Inventory management is very smooth. I am able to move inventory between warehouse, virtual or physical. I can easily see where my inventory is allocated, specifically to which sales orders. And I can see how much I have on order on future POs.
I love the saved search and report function. I have learned how to use it to run advanced searches to find mismatches in our date, inventory movement, sales trends, and more.

Cons

I find it difficult to find guides on how to do specific tasks. The support portion would be good to have easier access to. An AI agent would also be helpful to give support.
NetSuite ERP is a vast system. It is impossible for one person to know how to do everything on the system. Learning NetSuite ERP lingo and code takes a long time to learn.
User permissions are tricky and hard to understand. Enabling features for users and staff is hard sometimes because I cannot figure out exactly what a feature is called or what it falls under.

Return on Investment

NetSuite ERP has improved the accuracy of our inventory management over the time we have used it. With advanced features for allocating inventory to specific orders and managing inbound inventory before it arrives we are more in control of our inventory. This was a problem we had with our old ERP. There was no inventory management past just having inventory in a warehouse. NetSuite ERP allows us deeper control with bin numbers, transfers between warehouses, and full reporting on where our inventory is going. This has improved our P&L and bottom line.
The advanced accounting features have a positive affect on our business as they allow us to see exacly where our money is going and coming from. We can set subledgers and subaccounts to track specific spending. We can set certain inventory items to go to specific accounts. The possibilities are endless.

Usability

Alternatives Considered

Addon Track

Other Software Used

Shopify Plus, Trustpilot, Avalara

Eric Mushrush View profile

Director of Enterprise Systems in Information Technology at Millennium (51-200 employees)

Use Cases and Deployment Scope

We use NetSuite ERP for Order to Cash and Procure to Pay. It handles our Inventory, Client Records including Contacts, Vendor Records including Contacts, Custom Records (many) for our business needs, Fixed Asset Management, and Financial reporting. The system allows us to use customizations that are very low-code to no-code friendly.

Pros

Financial Reporting
Period Close Processing
Inventory Management

Cons

CRM
Electronic Payments
Item Searching

Return on Investment

NetSuite ERP is not cheap, but it does what we need it to do.
We've been using NetSuite ERP for over 15 years. ROI is hard to calculate at this point.
We've stayed a NetSuite customer all of these years and don't have plans to leave.

Usability

Alternatives Considered

HubSpot CRM

Other Software Used

HubSpot CRM, Google Workspace, BigCommerce

Raylene DeClue View profile

Computer and Information Systems Manager in Information Technology at ATRO Parts (51-200 employees)

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

Chris LaPorte

Head of FP&A in Finance and Accounting at Mutual of America (501-1000 employees)

Use Cases and Deployment Scope

My organization uses NetSuite as the ERP for our holding company and also two of our branches. It is very critical in intercompany accounting, allocations, expense payment, financial reporting, fixed asset management and all other general accounting functions. We previously used SAP and it did not have many of the functions that NetSuite does.

Pros

Allocations
Intercompany Transactions
Procure to Pay functions
Reporting/Segmentation

Cons

Implementation
Additional canned reports
Ease of use of the dashboards

Return on Investment

Less manual work
more scalable ERP
quicker month end close

Usability

Alternatives Considered

SAP Cloud ERP

Other Software Used

Anaplan, Coupa, Emburse Certify

Jake Bills View profile

VP of Special Projects at Monnit Corp (51-200 employees)

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

NetSuite ERP

What is NetSuite ERP?

Categories & Use Cases

Media

NetSuite ERP Key Features

Top Performing Features

Inventory tracking

Dashboards

Standard reports

Areas for Improvement

Direct deposit files

Pay calculation

Benefit plan administration

Who Buys & Uses NetSuite ERP

Most Frequent Users

Professional, Scientific, and Technical Services

Manufacturing

Information

Most Frequent Users

Small Businesses

Mid-sized Companies

Enterprises

Most Frequent Users

United States of America

United Kingdom of Great Britain and Northern Ireland

Canada

Most Frequent Users

Finance

Engineering

IT

NetSuite ERP Reviews

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NetSuite ERP Alternatives