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NetSuite by Oracle Review

9.3
excellent
Christian Rigg

In a Nutshell

NetSuite is a highly customizable, extensible suite of financial tools, including ERM, CRM, HR & Payroll, and more. The level of flexibility, paired with powerful integrations and the ability to create and run custom scripts, makes for robust, but somewhat complex accounting software. Once learned, however, the possibilities are virtually endless, and enterprises and global companies will surely see the benefits in both the short and long term.

pros

  • Highly customizable
  • Powerful budgeting, forecasting and reporting
  • All-in-one solution (HR, project management, inventory, etc.)

cons

  • Complex to set-up and operate
  • Can be very costly
  • No on-prem or hybrid solutions

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Netsuite at a Glance

Best for: Enterprises and global companies

Price range: $999+

Key features: Finance and accounting; billing; revenue recognition; financial planning & reporting; global accounting & consolidation; compliance

Apps: Web, iOS, Android

Integrations: Extensive

NetSuite Ease of Setup and Use

NetSuite is an extremely powerful financial management solution that’s highly customizable. Enterprise clients will likely need to invest in either hiring a NetSuite developer, or investing in training for their existing IT departments. Similarly, the learning curve for financial staff is likely to be quite steep, depending on the size of the company. 

That being said, the workflows are well thought-out, features and functions are rarely hidden and, while not the most intuitive software we’ve tried, it manages to pack a huge amount of information into a surprisingly readable interface. One key feature to help speed up navigation is the SuiteFlow Workflow Manager, a drag-and-drop workflow builder to facilitate a huge number of tasks, like entering data or generating reports. 

It may take some time to set up and get used to, but once you do, there are actually very few hurdles, and an array of solutions for streamlining your workflow. 

NetSuite by Oracle Pricing and Plans

Due to its modular nature, pricing is not listed on the NetSuite website. Instead, you’ll have to contact a representative to get a quote for your specific business needs. However, all subscriptions start at $999 and go up from there, with $99/mo for each user.

While this is more expensive than some competitors, like Intacct or QuickBooks Enterprise, NetSuite includes financial management, inventory and warehouse management, project management, and HR & Payroll, which means you won’t need to pay for additional software, bringing your total operational costs down.

NetSuite Features

As mentioned, NetSuite includes a wide array of software for managing finances, with individual applications for enterprise resource planning (ERP), business management, customer relationship management (CRM), human capital, professional services automation (PSA), email marketing, analytics, and more.

Businesses looking for deep integration between operations, management, finances, human resources, marketing, and more, are likely to find what they need with NetSuite. 

General Ledger and Expense Tracking

NetSuite allows for great customization of the General Ledger. A ledger can be broken down into any number of custom segments, like profit center and product line, with an unlimited number of subsidiaries, departments, and locations. Manual entry can be greatly reduced thanks to the custom plug-ins and multi-book capabilities with a rule-driven engine to map transactions between primary and secondary charts of accounts. 

Expenses and accounts payable also benefit from plenty of automation: calculating discounts, processing exceptions from mismatched invoices and orders, bill payment, and more. Each vendor and individual transaction can be enriched with bills, item receipts, vendor contracts, and more. Plus, the SuiteApps marketplace makes it easy to find ready-made third-party add-ons for a variety of use cases. 

Inventory Management

Inventory management is equally robust. The platform’s Reminders section is especially useful here, as it makes it easy to see actionable items like orders to receive, active purchase contracts, requisitions needing approval, vendor return authorizations, and more. The system is built for managing supply chains and inventory across continents and time zones, so that physical distance between goods doesn’t blur your overall view of operations. 

The inventory management module itself has a number of powerful features to help maintain inventory at appropriate levels across any number of locations. Replenishment tasks like checking stock levels and re-ordering stock can be automated for multiple locations. Traceability functions exist at all levels, so you can track shipments, orders, lots, and even individual serial or product numbers. The same granular view exists for warehouses: you can organize locations into a hierarchy, and create sub-locations and bins for management at the product level. 

Billing and Invoicing

It should come as no surprise that billing and invoicing is equally powerful with NetSuite. A unified framework supports transactions, subscriptions, usage-based and other models, with support for recurring billing. Everything can be set up to comply with any existing or foreseeable legislation, and integrates, of course, with revenue management and other NetSuite modules. 

Payments can be accepted through electronic funds transfer, credit and debit cards, PayPal, online bill payments, and just about every payment method on the planet, thanks to the ability to implement custom scripts and make use of 3rd-party and custom integrations and add-ons. Payment file formats are supported for US, UK, Canada, France, Germany—there are 20+ formats supported out of the box, and you can create any number of custom formats. 

NetSuite takes global billing and invoicing to a whole new level, and while the payments system is complex (the payments and payment processing manual is 326 pages long), there’s really nothing it can’t handle. 

NetSuite Integrations

NetSuite is so popular and so powerful in terms of integrations that it supports an entire ecosystem of companies and developers that design, build, and market add-ons and custom solutions.

NetSuite is built for extensibility; if an integration doesn’t exist, you can create one. The system runs on Java, a language familiar to most IT departments if a bespoke solution is needed—but it’s likely one already exists in the NetSuite marketplace or from a third-party vendor. 

NetSuite Mobile Apps

NetSuite has mobile apps for iOS and Android, although the balance between usability and functionality is a bit off here. The iOS app has a rating of 2.5 on the App Store, and most complaints are centered around the complexity of the interface, a steady stream of bugs, and missing key features. The company is quick to respond in each case to negative reviews, and promises UI and performance updates, but has thus far been slow to deliver.

If mobile support is essential to your daily financial operations, you may want to check out the competition. 

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Netsuite Customer Support

NetSuite provides basic customer support for every user, and additional support for larger companies (with bigger budgets). Support is broken down into Basic and Premium. Basic members only get phone support for Level 1 (Critical) problems, like if your whole system goes down. Otherwise, it’s an online ticket-based system. Premium subscribers get 24/7 phone access for Critical and Significant problems, and 8/5 access for Less Significant and Minor problems. 

There is also a comprehensive and extensive knowledge base, with a huge number of support articles, help topics, and training videos. As we’ve already mentioned, full module manuals can be a bit intimidating, regularly exceeding 300 pages, and unfortunately, the natural language search in the support center isn’t great. As a result, you may be left sifting through manuals and online help topics to find just what you need. 

Bottom Line

NetSuite is powerful, customizable, extensible, but also highly complex. Support is somewhat limited for basic members, subscriptions can be costly, and the mobile apps are in serious need of an upgrade. Nonetheless, enterprises looking to consolidate costs and manage global operations with deep, data-driven insights, global compliance, complex supply chains and warehousing, plus in-depth ledger, invoicing, billing, and payments, will find NetSuite of great use.

Christian is a freelance psychology and mental health writer with interests in social psychology, psychopathology, and well-being. He holds a degree in Neuropsychology from the University of Toronto and has written for a variety of online publications including PsyPost.org, TrackingHappiness.com, and Top10.com. He can usually be found with his nose in a scientific journal or else gravel biking around the French and Italian rivieras.

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Top Reviews

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5 months ago

A solid dependable provider that makes our monthly financial reporting more manageable.

7 months ago

It's a good system, I've had no problems with it. It's easy to use and customer service is very helpful if I need them.

8 months ago

I had no issues when I used it. It was perfect and totally solved all my issues. I had a wonderful experience with it. It was very easy to use and I loved using it totally and I would use it every day.

5 months ago

It's a pretty easy software to use. Once you get the hang of it It's a breeze.

6 months ago

Great suite, could use a little easier module to customize use. Overall, excellent platform.

6 months ago

It provides all the features which we are use to in an accounting software. It very impressive and stands tall with the rest of the competition.

6 months ago

The Oracle Netsuite software package is one of the leading business software suites and allows me to access the cloud to get my business accounting work done quickly and easily. The Oracle Netsuite software scales with my accounting workload and helps me manage the core business operations in a single, full integrated interface system. I can use all the helpful Oracle tools to get things done more quickly with the Oracle Netsuite software.

7 months ago

It's pretty easy to use, there is usually no glitches, and overall happy with it.

7 months ago

I think It's very difficult if you speak to an Oracle representative to get help with something, but that is rare that I have had to do that. I do happen to have experience doing so. It is a great product and fairly Advanced. I would say it was among the top I would chose but not in the top 5.

7 months ago

Full service accounting, fairly easy to use. Has instructions that are for everyday people. Cloud based works well with other programs. Within hours of using you get really familiar with the tabs and labels.

7 months ago

It works well with very few problems and is easy to customize. Any problems have been easily handled by customer service.

8 months ago

They are a brand that I can trust. Used them for years and they have never let me down.

8 months ago

Good for business to help our business needs and communicate with. The best!

8 months ago

It's very powerful but not super user intuitive. I'd recommend it for a large company.

6 months ago

Hard to use, not intuitive. Does not perform like the average user needs it too. Very expensive and there is literally no support available unless you want to pay extra for that.

6 months ago

Have been satisfied with their products and support from their representatives over the years.

8 months ago

Constantly running into problems of slow reports or timeouts happening. Also being on a cloud can be disruptive.

8 months ago

Because it's was more than worth it. I really think that's everyone should try it out. And if your goals to to achieve something good this is the route you should take.

7 months ago

I got no use out of them at all. I thought they would help me better understand my situation but they do not. I think they tell everyone the same thing.

7 months ago

They work really well with my company and my staff can easily work with this website as well. Our. Competition works with this website as well. When I started with my company this is the first website I used.