CFO/CIO perspective on NetSuite, as used by a subscription/data/technology companyhttps://www.trustradius.com/erpNetSuiteUnspecified7.43241012013-11-27T19:45:40.422Z
November 27, 2013
CFO/CIO perspective on NetSuite, as used by a subscription/data/technology company
Score 9 out of 101
NetSuite Mid-Market edition
- Advanced Project Module
- Contract Renewals Module
- Incentive Compensation
- Recurring Billing
- Revenue Recognition
Overall Satisfaction with NetSuite
- Browser-based interface is simple and intuitive, very fast and allows full access to the system from any Internet connection.
- Customizations to the database are simple to implement and work seamlessly with release upgrades from NetSuite.
- Reporting, searches, analysis and dashboards are very simple and flexible.
- Strong third-party support with integrated applications to meet additional business needs such as sales tax reporting, H/R, faxing from within the application, credit card processing, etc.
- Low total cost of ownership, with no servers to maintain and related technical support staff costs.
- Ability to create custom workflows and user roles.
- Completeness of functionality is an area for improvement, but then there's a trade off with keeping the system simple and intuitive.
- Searches are very easy and customizable, but the standard default reports can sometimes be difficult to customize. Sometimes the fields in the tables/database are not available or easily identifiable in the report creation screens, whereas all are readily accessible in the search creation screens.
- Simple dashboards are easy to create and customize, but the charts lack the flexibility of reporting options found in Excel or PowerPoint.
- Our company has doubled in revenues with only a 15-20% increase in headcount, and less than that on the back office side. NetSuite's capabilities and processes have been an important factor in that.
- We've been able to automate processes such as sales tax calculations and reporting and credit card processing through NetSuite's integrated third-party provider applications.
- We've made significant improvements to our reporting and analytics with the ease of adding custom fields to the database and workflows for very unique business needs.
NetSuite is the best business system I've used, and on many levels: Simple, intuitive web interface; great search and reporting tools; full access from any browser; fast response times; no servers to maintain; seamless upgrades; great third-party integrated applications; API's to other systems; and easily customizable to meet very unique business needs. We continue to find new ways to use its capabilities to meet our needs, and have many modules still to implement to improve our business (e.g., e-commerce). As NetSuite and its partners expand their product offerings, it becomes a more complete solution yet for all of our business needs. Service and support has been very good. We just renewed for another three years.
I highly recommend including NetSuite in any ERP or financial system evaluation. Overall, it is a very strong contender, as long as you determine that its feature and function set meets the overall needs of your business. It is perhaps strongest in small to medium businesses, but has some large international clients. Its sweet spot is in service, subscription, software, distribution and light-manufacturing/assembly businesses, but has expanded with partners into full manufacturing. If your business has very unique needs it is very possible that NetSuite's customization capabilities will allow you to meet them quickly and at a low implementation cost, but ask for reference accounts with similar business models to determine that your needs will be met.