#1 most frequent
United States of America
72.0%6,951 installations of 9,660
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
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Screenshot of one view into the most critical business processes.
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: 7.5
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: 7.7
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: 7.5
Who Buys & Uses NetSuite ERP
#1 most frequent
Professional, Scientific, and Technical Services
19.2%1,851 installations of 9,655
“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.”
#2 most frequent
Manufacturing
16.7%1,610 installations of 9,655
“Days to close reduced dramatically!”
#3 most frequent
Information
15.2%1,467 installations of 9,655
#2 most frequent
Canada
5.3%508 installations of 9,660
#3 most frequent
United Kingdom of Great Britain and Northern Ireland
5.2%506 installations of 9,660
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
Powerful Highly Customizable ERP But the Learning Curve is Steep
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
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.
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
NetSuite - Efficient and Reliable
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
