Overall Satisfaction with NetSuite
Our organization uses NetSuite to manage all of the general ledger journal entries for several entities. We also use it for invoicing and commission calculations (with an addon from Callidus). NetSuite is primarily used by the Finance and Accounting teams but is also used in the business processing and administration departments.
NetSuite addresses the major business problem of organization and trust. By having all of the financials in one location NetSuite has become the "truth" behind our financials. The easy to use interface and search capabilities make it easy to use even for beginners. For example, new employees, with just a few minutes of training, can log in and look up customer invoices.
NetSuite addresses the major business problem of organization and trust. By having all of the financials in one location NetSuite has become the "truth" behind our financials. The easy to use interface and search capabilities make it easy to use even for beginners. For example, new employees, with just a few minutes of training, can log in and look up customer invoices.
- Integrates. NetSuite is particularly good at integrating with other products. For example, we integrate NetSuite with Adaptive Planning in order to bring actual financials together with forecast and budget data, which is then used for analysis and reporting. We also integrate NetSuite with other administration platforms so invoicing and commissions can be done rather seamlessly.
- Intuitive. NetSuite is extremely intuitive. I started using it without any training and was easy to learn. It takes a little practice to learn the reporting system, but if you are just looking for client or vendor information it is as easy as typing the name or ID into the search box at the top.
- Easy to Support. While setup is important and takes a lot of hours, the ongoing support is outstanding when compared to some of the other big enterprise systems. The previous enterprise system I used needed 4 full time programmers on staff just to keep it running, and it still kept getting outdated. The cloud application and seamless upgrades make this product superior.
- Commissions. Our company's commissions are very complex and while NetSuite can handle most of them, there is still lots of manual adjustments and work that we need to do before paying. With that said, some of these issues may be with our setup or to the fact that we keep changing our incentive plans.
- Reporting. While you can design P&L and other reports in NetSuite, I've found it less intuitive and more difficult than it seems like it should be. Some of this is because of how the data is stored in the background. For example, sometimes the data you want in the same report comes from two different modules and in order to pull the data into one report, we need to run separate reports and then do lookups in Excel. This is a common theme in relational databases and not specific to NetSuite.
- While I can't quantify the ROI it has definitely made an impact on productivity when compared to older, outdated systems. Monthly closes can be coordinated across the company and completed in a much quicker time.
- Another positive impact from NetSuite is much easier access to data. Doing searches and getting data from NetSuite is easy. It doesn't require programmers to do and you don't have to memorize T codes and wait long periods for your information to update.
I have used simple accounting systems like QuickBooks, and I have used huge outdated systems like SAP. NetSuite is far superior to both of them. I wouldn't say its better than QuickBooks but maybe just for a different audience. QuickBooks is really for small companies. SAP, however, at least the implementation I used, was barely usable and effectively hid the data we needed from us because it was nearly impossible to pull from the system even with dedicated staff to help.