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Great tool for incorporating entire company's data and financials
Updated March 15, 2023

Great tool for incorporating entire company's data and financials

Xenia Le Dinh, PMP | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User

Software Version

NetSuite Mid-Market edition

Modules Used

  • Advanced Project Module
  • Incentive Compensation
  • OneWorld (multi-country and multi-currency)

Overall Satisfaction with NetSuite ERP

NetSuite is being used across the organization, mainly sales department (creation of opportunities and estimates), purchasing (creation of purchase orders and inventory management) and the finance/accounting team. It provides visibility across the inventory levels in various work shops and locations, facilitates product selection by the sales team based on item availability and forecast, is used as a communication tool between customer support and repair shop and customer through support cases flow, work orders and return authorizations. NetSuite's main use at our company, however, is financials and accounting.
  • Cross-departmental communication
  • Ability to create customer, vendor and partner centers in order to ensure alignment
  • KPIs and Dashboards that if used correctly are an invaluable tool for forecasting and trend analysis
  • Incentive compensation module is quite rigid, it is difficult to customize it to various commissions structures of companies.
  • UX is lacking.
  • Decreased invoice bounce rate and errors on transactions.
  • Increased visibility on inventory per location, made it easier to transfer inventory.
  • Any information available at fingertips
Netwuite is far more customizable than some of the other products I worked with, and is feature-rich.

Do you think NetSuite ERP delivers good value for the price?

Not sure

Are you happy with NetSuite ERP's feature set?

Yes

Did NetSuite ERP live up to sales and marketing promises?

Yes

Did implementation of NetSuite ERP go as expected?

I wasn't involved with the implementation phase

Would you buy NetSuite ERP again?

Yes

Easy to use once you learn the terminology, not too different from other software
Quick responses but the representatives rarely take time to really analyse the issue, giving rather generic responses. Upside it that, thanks to the many websites & blogs out there, getting external information is easy.
NetSuite incorporates a universal tool that tracks your entire sales cycle from the moment of getting a lead and qualifying it into creation of the opportunity, negotiation and closing of a deal into the execution and delivery of the product or service, invoicing and receiving payment. It provides visibility across all departments and is a powerful tool for determining trends, strong and weak links within the organization. It is highly customizable and integrates with a myriad of software. Weaker, in my opinion, on the manufacturing side as well as WIP revenue recognition, otherwise a great tool.

NetSuite ERP Feature Ratings

9.5
Accounts payable
9
Accounts receivable
9
Global Financial Support
Not Rated
Primary and Secondary Ledgers
Not Rated
Journals and Reconciliations
10
Configurable Accounting
10
Standardized Processes
Not Rated
Not Rated
Billing Management
Not Rated
Cash and Asset Management
Not Rated
Travel & Expense Management
Not Rated
Budgetary Control & Encumbrance Accounting
Not Rated
Period Close
Not Rated
9.3
Inventory tracking
10
Automatic reordering
9
Location management
9
9.5
Pricing
10
Order entry
10
Credit card processing
9
Cost of goods sold
9
Order Orchestration
Not Rated
Not Rated
Pay calculation
Not Rated
Benefit plan administration
Not Rated
Direct deposit files
Not Rated
10.0
Dashboards
10
Standard reports
10
Custom reports
10
Not Rated
API for custom integration
Not Rated
Plug-ins
Not Rated
10.0
Role-based user permissions
10
Single sign-on capability
10
Not Rated
Award Lifecycle Management
Not Rated
7.0
Budgeting and Forecasting
6
Project Costing
6
Cost Capture
6
Capital Project Management
Not Rated
Customer Contract Compliance
10
Project Revenue Recognition
7
9.0
Project Planning and Scheduling
9
Task Insight for Project Managers
Not Rated
Project Mobile Functionality
Not Rated
Definable Resource Pools
Not Rated
Not Rated
Bids Analyzed and Compared
Not Rated
Contract Authoring
Not Rated
Contract Repository
Not Rated
Requisitions-to-Purchase Orders Integrated
Not Rated
Supplier Management
Not Rated
Not Rated
Risk Repository
Not Rated
Control Management
Not Rated
Control Efficiency Assessments
Not Rated
Issue Detection
Not Rated
Remediation and Certification
Not Rated
Not Rated
Transportation Planning and Optimization
Not Rated
Transportation Execution Management
Not Rated
Trade and Customs Management
Not Rated
Fulfillment Management
Not Rated
Warehouse Workforce Management
Not Rated
Not Rated
Production Process Design
Not Rated
Production Management
Not Rated
Configuration Management
Not Rated
Work Execution
Not Rated
Manufacturing Costs
Not Rated
7.0
Forecasting
Not Rated
Inventory Planning
7
Performance Monitoring
Not Rated
Not Rated
Proposal Management
Not Rated
Product Master Data Management
Not Rated

Using NetSuite ERP

5 - Financial, PMO
We do not have a dedicated person to support Netsuite currently.
  • we use this product to manage project financials
  • product is used for PnL, AP, AR
  • we also use the CRM function
  • custom page for travel approvals
  • creating and saving client questionnaires under a client record
  • managing resource capacity
  • budgeting is yet to use
  • upgrading and making better use of customer dashboards
  • customer portal
After years of working with various ERPs or combination of ERP + excel or PSA/PPM software, I find NetSuite to be a great tool for an organization that follows general best practices of its market. NetSuite has a lot to offer but isn't master of any of its modules, so if you would rather have one product that is OK at everything then have many products that are each amazing at something then NetSuite is your choice

Evaluating NetSuite ERP and Competitors

Not Sure
  • Price
  • Product Features
  • Product Usability
A standard RFP process was followed where various vendors had to reply to our questions around usability and features, as well as IT infrastructure and security. Usability and ease of customization was definitely a big factor in our decision making process
If I had to do it again, I would spend more time on definig the exact documentation (PDF print outs) and reports I need from the software. High level NetSuite meets the needs in that regard, but once you go into the detailed requirements unpleasant surprises might appear

Using NetSuite ERP

ProsCons
Relatively simple
Easy to use
Technical support not required
Well integrated
Quick to learn
Convenient
Feel confident using
Familiar
Do not like to use
Inconsistent
  • related records, letting you click from one page to other pages related
  • customer historical that lets you see all the communications, transactions and activities for a single client
  • creation of new custom fields, easy and useful
  • finding an information when you don't know exactly what you are looking for
  • reports, difficult to create and stiff
  • slowness of the system, takes seconds, sometimes close to a minute for a page to save or a report to load!
Yes, but I don't use it