NetSuite Review
February 25, 2016
NetSuite Review
Score 10 out of 10
Vetted Review
Verified User
Software Version
NetSuite Enterprise Edition
Modules Used
- AdvancedFinancials
- OneWorld (multi-country and multi-currency)
- Recurring Billing
- Revenue Recognition
Overall Satisfaction with NetSuite
NetSuite is being used for all of our financial transactions and reporting. In addition, NetSuite serves as our ERP and CRM system. The entire customer life cycle, from lead generation thru opportunities, quotes, sales orders, billing, collection, and customer service provisioning is done utilizing NetSuite as our one tool for all.
- We use NetSuite to maintain our customer service database of sold devices under maintenance contracts. NetSuite allows us to track these individual devices by specific location/sub-customer, track service calls, and handle billing and deferred revenue transactions very efficiently. The embedded processes and advantages of one database for all the above allow us to satisfy our customers with a much lower dedicated headcount than with prior systems.
- The ease of use in the financial modules along with taking advantage of the standard best practices embedded within them allowed us to reduce cycle time of our monthly close process while actually decreasing finance resources.
- Prior to NS we had several systems for tracking customer leads, opportunities, and quotes. Now we have all of that in one system, and with a little bit of scripting we perform margin tests on opportunities that allow for automated approval routing before estimates are sent to customers.
- Voiding checks by Journal Entry is less than ideal. We would like to be able to have NS post a void directly thru the AP function.
- The NetSuite for Outlook integration doesn't have Vendors or PO's as available records when saving. It is completely focused on the sales side.
- Customers with credit balances only are cumbersome to clear. You have to use a combination of journal entries and payment posting to write them off.
- We are in a very competitive market with constant price pressure. NetSuite has allowed us to reduce back office activities and focus on our core competencies and customers.
We reviewed NetSuite, Intacct, and Microsoft Dynamics. We felt that the total cost of ownership would be lowest with NetSuite. Plus NetSuite was very prompt in answering our questions and supplying a free test environment to review. They were the most aggressive in trying to win our business thru proof of concept and pricing. Their "out of the box" functionality was a very good fit for our business model. We were only required to implement two customizations to allow us to move forward and satisfy our unique business process requirements.