NetSuite good fit for growing companies
November 25, 2021

NetSuite good fit for growing companies

Anonymous | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User

Software Version

NetSuite Financials

Modules Used

  • AdvancedFinancials
  • OneWorld (multi-country and multi-currency)
  • Revenue Recognition

Overall Satisfaction with NetSuite ERP

Currently use it to manage transactions processing, basic financial reporting, balance sheet, and cash flow. Implementing budgeting and forecasting processes to add business value to the organization.

Pros

  • Financial Reporting
  • Vendor management
  • Journal entries

Cons

  • Project module
  • After implementation user support
  • Data field management
  • Forces accountability across all departments.
  • Provides timely visibility into business performance.
  • Removes confusion over financial management and sources of data.
NetSuite was a better fit for this particular client because it had the right mix of flexibility and process controls that the client needed. SAP, Hyperion, and Oracle are not as user-friendly in the screen navigation and many of the finance staff here are new to ERP systems. It was an easier transition. Oracles and SAP have more robust reporting capabilities, but NetSuite reports are very capable and also easy to use. NetSuite reporting lacks an easy way to do a data drop of details into MS Excel to facilitate analysis but otherwise is a very useful ERP solution.
NetSuite is very helpful for growing companies to aggregate financials into a single source of activity. It helps companies that aspire to go public to implement controls and processes needed to manage the scrutiny of audits. NetSuite is not as useful for users abroad that do not provide post go-live support. It manages currencies well, but SME's in other countries are often confused about functionality.

NetSuite ERP Feature Ratings

8.3
Accounts payable
9
Accounts receivable
9
Global Financial Support
6
Primary and Secondary Ledgers
8
Journals and Reconciliations
9
Configurable Accounting
8
Standardized Processes
9
7.2
Billing Management
8
Cash and Asset Management
7
Travel & Expense Management
6
Budgetary Control & Encumbrance Accounting
7
Period Close
8
Not Rated
Inventory tracking
Not Rated
Automatic reordering
Not Rated
Location management
Not Rated
7.0
Pricing
Not Rated
Order entry
Not Rated
Credit card processing
7
Cost of goods sold
7
Order Orchestration
Not Rated
Not Rated
Pay calculation
Not Rated
Benefit plan administration
Not Rated
Direct deposit files
Not Rated
8.7
Dashboards
8
Standard reports
9
Custom reports
9
Not Rated
API for custom integration
Not Rated
Plug-ins
Not Rated
7.5
Role-based user permissions
8
Single sign-on capability
7
Not Rated
Award Lifecycle Management
Not Rated
7.3
Budgeting and Forecasting
8
Project Costing
7
Cost Capture
7
Capital Project Management
Not Rated
Customer Contract Compliance
Not Rated
Project Revenue Recognition
Not Rated
Not Rated
Project Planning and Scheduling
Not Rated
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
Not Rated
Forecasting
Not Rated
Inventory Planning
Not Rated
Performance Monitoring
Not Rated
Not Rated
Proposal Management
Not Rated
Product Master Data Management
Not Rated

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