Item: NetSuite ERP
Rating: 10
Author: Verified User

Use Cases and Deployment Scope

Fionic is a financial services company and uses NetSuite as its financial book of records. It is used for financial reporting and cash collections.

Pros and Cons

Flexibility of financial reporting process.
Vast infrastructure to support various needs.
Able to scale to a much larger organization dealing with multiple jurisdictions.

Learning curve to start functioning efficiently.
Ability to easily connect with Canadian banks and the application of cash to a large number of customer receivables.
Support for multi-currency reporting/implementation.

Return on Investment

Positive - once set up, it is fairly easy to run reports.
Improvement - Learning and optimizing all the features.
Improvement - The ecosystem is vast, and it is great to have an overall resource map listing all the features and vendors that support various modules.

Quickbooks is easy to learn and set up for smaller companies that have yet to scale. We decided to invest in NetSuite because it will have the required functionalities, but it has taken some time to transfer over.

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?

I wasn't involved with the selection/purchase process

Did implementation of NetSuite ERP go as expected?

Would you buy NetSuite ERP again?

Yes

Other Software Used

QuickBooks Online, Dext Prepare (with Receipt Bank), Plooto

Usability

There is a learning curve.

Support Rating

NetSuite representative is attentive and follows up. Identifying resources available is always appreciated.

Likelihood to Recommend

NetSuite is an investment into the finance/accounting department. When the company is large and the finance/accounting department, there is additional room for efficiencies, which can be had with the deployment of NetSuite. The implementation process and learning curve are also an investment, and it takes time to understand the best way to develop processes.

NetSuite user with 1 year of experience since implementation.

Software Version

Modules Used

Overall Satisfaction with NetSuite ERP