Item: NetSuite ERP
Rating: 9
Author: Verified User

Use Cases and Deployment Scope

We use NetSuite as the source of truth for all accounting transactions. This includes AR, AP, bank transactions, revenue recognition, fixed assets, etc. NetSuite is connected to various other finance systems we use such as Coupa, Zip, tripactions, Brex, and Zuora Billing. We also use the bank matching functionality through the Bank Feeds Suiteapp to match our bank transactions for several different accounts

Pros and Cons

Global search function is great
Ability to create saved searches/queries to extract needed data
Integrates well with various other systems
User friendly interface and navigation

Bank matching functionality is lacking in ability to auto-create bank transfers and standard journals. Only Deposit and Check record types allowed which is very limiting
A few quirks like after customizing an account detail, the date range fields seem to be editable but won't actually update on refresh
Occasional outages but usually resolved quickly

Return on Investment

NetSuite provides great reporting capabilities to be able to present robust executive and board presentations
Integrates well with various other systems for AP, expense, AR, etc.
Ease of navigation saves accounting team time and has lead to a decrease in time to close the books monthly

Alternatives Considered

SAP BPC (Business Planning and Consolidation), SAP Concur and SAP ERP

NetSuite is significantly more intuitive and user friendly than SAP. SAP navigation was slow and difficult to find what you're looking for without backend codes. With NetSuite, there's a useful global search feature to quickly find what you need and robust capabilities for querying data from various sources to get exactly what you're looking for.

Key Insights

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

Yes

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

Other Software Used

Coupa, Coupa Pay, Zuora, Navan, Brex, FloQast

Usability

It is very easy to navigate in NetSuite. The global search function is great for quickly finding what you need and saved search functionality is very helpful to be able to create and save specific queries. The balance sheet and income statement reports are easy to filter and use to pull the data you need.

Support Rating

I have not had a lot of interaction with NetSuite support directly.

Likelihood to Recommend

NetSuite is intuitive and easy to navigate and is overall a great accounting system. It integrates well with various other external systems, though as companies grow, managing those integrations can get to the point where you need a dedicated systems employee. The overall reporting functionality is good and rev rec schedules are easy to set up and use. The bank reconciliation module is ok - not very robust in terms of the record types that can be used for auto-creating entries based on bank rules. Overall, would definitely recommend NetSuite.

Great ERP system - Easy navigation and great reporting

Software Version

Modules Used

Overall Satisfaction with NetSuite ERP