Oracle NetSuite Reviews Summary
NetSuite is a cloud-based enterprise resource planning (ERP) system that delivers business automation and integration across finance, supply chain management, customer relationship management, product configuration, and other key areas.
NetSuite makes it possible for businesses to enjoy the benefits of enterprise quality solutions without the prohibitive cost or complexity often associated with legacy systems.
With an intuitive user interface and 24/7 access from anywhere in the world via any device with an internet connection, NetSuite provides all your company’s data in one place so you can take advantage of new opportunities as they arise.
NetSuite provides businesses with an integrated suite of financials, operations, and dashboards. The company’s single version of truth simplifies data management for multinational organizations, eliminating the need to reconcile redundant data across global business units.
Oracle NetSuite Pros
- Reduce time and resource waste by automating and streamlining manual processes and document management.
- Get real-time information about transactions, finances, and operations from a single source.
- Get rid of duplicate data entry and incorrect formulas by replacing spreadsheets, thereby boosting accuracy.
- More than just accounting software, with NetSuite, you can ensure that revenue recognition, amortization and depreciation, prepaid and deferred expenses, as well as other finance processes comply with appropriate rules and schedules.
- Workflows and templates simplify the process of gathering information and assumptions thus reducing planning cycle times.
- Financial and operational data with audit trail are accurate and visible in real time with NetSuite ERP’s pre-built synchronization.
- Rather than rely on emails and spreadsheets, all stakeholders are connected in one place.
- Data is entered consistently using the same process so that every change can be tracked for increased transparency.
- Analyzes and compares actual results with forecasts often to refine forecasts.
- With automation, order processing work becomes faster and more accurate, eliminating errors and bottlenecks.
- Your warehouses, stores, and suppliers can all use the same rules for fulfillment, ensuring on-time delivery.
- Based on product availability or proximity, determine the optimal shipping location for reduced shipping costs.
- No matter where your manufacturing operation is located, you can manage it effectively.
- Produce the same item differently at different locations based on their capabilities.
- By optimizing quality costs with integrated quality management, you will reduce the cost of goods.
- With user-defined alerts, you’ll always know what’s happening in your supply chain.
- You can reduce lead times and optimize delivery plans by using order management rules.
- You can identify and address cost variances immediately to reduce supply chain costs.
- Native, embedded solution options. They have functionality for your business regardless of size and complexity.
- System updates are real-time; no syncing is necessary.
- Reduces procure-to-pay timelines and increases cash flow with automation.
- Improve the accuracy of your costing and stabilize your gross profit with NetSuite’s costing methods.
- Manage vendor selection and improve product quality using our native requisition and RFQ tools.
Oracle NetSuite Cons
- Although designed for businesses with all levels of complexity, those with a smaller company size or those with limited fiscal and operational resources may have difficulty understanding their own processes well enough to need all aspects of the suite.
- NetSuite is not inexpensive, so is perhaps out of the price range of brand new companies that are not making profits yet.
Who Is Oracle NetSuite ERP For?
NetSuite is a software solution designed for businesses of all sizes. NetSuite provides a complete financials and operations management suite for any company size—particularly those that are medium-sized or larger.
Industries that use NetSuite include retail, manufacturing, and consulting services with a distribution of products or information. They have editions for those services as well as for software, wholesale, and professional ones. This means that there is a NetSuite edition for almost every type of business.
This is a great solution for businesses that are looking for a powerful, scalable, and affordable cloud-based solution. It’s also ideal for companies that need to consolidate data from multiple locations or integrate with other enterprise systems.
Who is Oracle NetSuite ERP NOT For?
NetSuite may not be the best solution for every business, particularly those with a very small company size or on a restricted budget. While they can customize an edition to meet your needs, it might be more efficient and cost-effective for a business of that size to use other solutions.
That being said, a smaller business that can afford to start with NetSuite will be able to use this ERP system throughout its growth.
All Things Considered
NetSuite is ideal for companies that need a scalable, cloud-based solution. It’s also great for businesses that want to consolidate multiple areas, engage in demand planning, or integrate with other systems.
NetSuite can be customized to meet your needs, making it a great choice for mid-size to large businesses. NetSuite provides a complete financial and operations management suite with editions designed for many types of companies.
With its extensive range of features, this software suite has benefits for almost every industry, including service, manufacturing, and retail.
Table of Contents
Oracle NetSuite Basics
Below you will find an overview of NetSuite Enterprise Resource Planning Software.
What is Oracle NetSuite ERP?
NetSuite is a cloud-based ERP solution that provides businesses with an integrated suite of financials, operations, and dashboards.
This system enables organizations to run lean, efficient operations even as they expand because they organize and collect key business information.
Because ERP systems are based on a central database, they provide insight and control over business processes. This is because they incorporate data from across departments, such as accounting, marketing, manufacturing, sales, supply, and human resources.
Within that central database, leaders can gather data from multiple departments and analyze it in a unified manner. They are able to uncover process improvements and improve overall efficiency. The results are lower costs and increased productivity since people spend less time looking for needed information.
What does Oracle NetSuite ERP do?
There are seven main areas where NetSuite will help you manage your business efficiently:
1. Financial Management
With Netsuite, you can enhance your decision-making capability with top-notch, fiscal management combined with business intelligence.
Using NetSuite solutions, you can streamline a company’s financial transactions, ensure compliance, and speed up the close. It provides real-time insight into any business’s financial performance at all levels, from consolidated figures to individual transactions.
NetSuite business applications, such as order management, inventory management, CRM, and e-commerce, can be integrated seamlessly with NetSuite financial management, letting you run your entire operation with a single system.
A fully operational accounting software, NetSuite is designed for automating complex financial processes, such as bank reconciliation, assets, receivables, payables, and revenue management.
You can produce quick and easy budgets and forecasts, model what-if scenarios, and create reports based on NetSuite financials, headcount, and operational data.
2. Financial Planning
NetSuite Planning and Budgeting allow your finance team to rapidly produce forecasts, budgets, what-if models, and create supports. It automates processes in budgeting and planning in a single, scalable, collaborative program.
With automatic consolidation, troubleshooting, reporting, and data loading, your finance team can devote less time to manual tasks. They can refocus their time from data entry to strategic analysis, which will have a far more significant impact on the company’s financial standing.
With NetSuite ERP, financial and operational data are synchronized automatically and continuously. By reducing the need for manual data input, better control is achieved.
The entire data collection process is streamlined because all stakeholders share a single environment. By creating accessibility, finance can engage operational managers and get their input, thus boosting participation and accountability.
A centralized system gathers data into a standardized format, creating a single and consistent version of your information. The system automatically reflects any changes made to numbers on reports and dashboards, making it easy to understand the current business situation.
3. Order Management
With NetSuite connecting sales, financial management, and distribution, the order-to-cash process can be accelerated.
An order placed with NetSuite Order Management is automated and managed throughout its life cycle, from when the customer places the order until after the order is delivered. With this solution, accurate record-keeping is assured across order capture, validation, shipping, confirmation, communication, and customer settlement. This makes the job much simpler for your account manager.
Additionally, NetSuite handles complicated options such as split shipments and drop shipping. Order management makes it easy to track and manage the information flow across all fulfillment centers and providers. You can quickly resolve fulfillment problems and minimize delays when they arise.
With NetSuite, you can give customers the ability to purchase, receive, and return goods anywhere—a true omnichannel experience.
Creating a single source of data for inventory, pricing, orders, payments, returns, and other information enables customers and employees to get the answers they need consistently and fast.
With NetSuite, sales, finance, and operational professionals can work together to deliver more accurate quotes, eliminate billing errors, bring processes for revenue recognition up to date, and increase order fulfillment efficiency.
4. Production Management
This end-to-end manufacturing software system that runs your business from start to finish will enable you to deliver your products quickly and cost-effectively anywhere.
Manufacturing organizations can operate efficiently through NetSuite’s production management capabilities. Using NetSuite, you can track every step of the production process in real time so that you can make better decisions. This management module includes sales orders, work orders, routing, scheduling, order fulfillment, and product costing.
- Product data management simplifies the process of defining, managing, and maintaining your products.
- The work order management suite streamlines the management of discrete and batch-driven manufacturing operations.
- When you plan and schedule your operations, you can ensure on-time delivery of materials and scheduling production activities.
- With automated quality control, Quality Assurance ensures that your product is produced as intended and delivered on time.
- With the interactive tablet device, you can get real-time updates from production and sales when your barcodes are scanned.
5. Supply Chain Management
You can develop, execute, and support supply/distribution management plans from a single, collaborative platform.
In the modern supply chain, virtually every company manages operations across multiple continents and time zones. With Netsuite, you can do this on a single platform.
Manufacturing, distribution, and supply management capabilities in NetSuite are based on the principle that the location where a product is manufactured or stored should have no bearing on how decisions are made.
Using NetSuite lets you analyze demand, look at sales forecasts, balance current supply, and develop a plan. Once you have created your plan, you can execute it easily and effectively by creating all your purchases, transfers, and work orders.
NetSuite’s platform and standard communication and portal technologies enable collaboration. Using this system, you can automate the processes for managing support cases, tracking issues, registering warranties, and repairing.
6. Warehouse and Fulfillment
With NetSuite, you can optimize inventory and logistics in real time while reducing your total cost of ownership.
The key to successful operations is controlling inventory, shipping, and fulfillment costs. In today’s business environment, companies are improving their warehouses’ agility, visibility, and productivity.
Using best practices in conjunction with a sophisticated Warehouse Management System (WMS) is the key to optimizing distribution operations.
WMS offers organizations the ability to optimize the distribution of products by directing radio frequency devices with customized, user-defined strategies. Moreover, they provide sophisticated inventory tracking, warehouse management, cartonization, and cycle counting features.
With this platform, you can:
- Plan your open purchase orders, transfer orders, and inbound container deliveries so that your orders arrive when expected.
- Use end-to-end management from the conclusion of production all the way to delivery to ensure optimal cash flow.
- Manage your inventory to ensure that the right materials are at the right place at the right time.
- Manage warehouses of all sizes and complexity with the advanced WMS and mobile application.
In addition to improving procurement-to-pay processes, NetSuite also optimizes costs.
It can be time-consuming and inefficient to handle purchasing requests manually, especially if you have to send emails, faxes, and make phone calls to retrieve the goods.
The NetSuite purchasing solution allows companies to buy goods and services at a competitive price and on time. This helps to save employees’ valuable time. This tool reduces expenditures by using approved suppliers and pre-negotiated contracts and provides real-time, fiscal visibility into vendor performance.
NetSuite also supports internal controls and compliance requirements by automating and matching workflows to streamline the procure-to-pay process as part of its ability to automate and link key procurement transactions.
NetSuite is perfect for managing your vendors, processing RFQs, establishing contracts, and establishing procurement rules. The user-configurable dashboard for procurement helps you automate requisitioning and purchasing processes.
You can configure flexible workflows that allow you to match purchase orders, item receipts, and vendor bills as needed to increase cash flow.
How Much Is Oracle NetSuite ERP?
None of the business software applications I have reviewed are as opaque on pricing details as NetSuite. It is difficult, if not impossible, to know how much you are going to pay for the service without speaking to the sales team.
Normally, I would find this somewhat shady, but given that NetSuite is a part of Oracle, I do not doubt that they are on the up-and-up.
Like most other SaaS companies, they differentiate their offerings on a per-user basis, so that purchasing NetSuite for many users will cost more than using it for just a handful.
Overall, NetSuite offers three levels of services:
- NetSuite Limited Edition—used for a small company with fewer than 50 employees and 10 full users
- NetSuite Mid-Market Edition—intended for a mid-range company with more than 10 users, those that operate in multiple currencies, or those with two or more legal entities
- NetSuite Enterprise Edition—for a large company with more than 1,000 users
Unfortunately, the price for these levels is not published on the website. However, one estimate is that the entry-level for NetSuite would be around $499 per month.
Oracle NetSuite ERP Features
Every tier of NetSuite comes with the same base features:
- Employee Center
- General Ledger
- Order Management
- Accounts Receivable
- Accounts Payable
- Project Management
- Multi-Language & Multi-Currency
- Bank Management and Reconciliations
- Item and Inventory Management
- Acceptance of Credit Cards, EFT, ACH
There are many advanced features available at any tier at an increased markup. Some examples include advanced billing, financials, inventory, procurement, dedicated servers, and incentive payments.
These features can be purchased a la carte or as part of an “industry suite” package. But again, the prices are not published on the NetSuite web page.
Other NetSuite Charges
In addition to the above, NetSuite has other offerings that are available for an additional, unpublished charge.
The implementation of NetSuite is generally accomplished with the assistance of NetSuite personnel. They will start discovery and analysis to learn about your business. They then create a Business Requirement Document to outline your company’s initial and future needs and develop a plan to address any gaps. Only after this does the actual configuration and deployment process take place.
This can be time-consuming (to the tune of hundreds of hours), and there are estimates on the web that this process costs $150+ per hour.
However, again due to the lack of transparency with their pricing schedule, it is not possible to get a pricing estimate without talking to NetSuite or a “NetSuite Solution Provider”—a third party company that is a NetSuite reseller.
Oracle NetSuite ERP Software Ratings
Oracle NetSuite ERP Functionality Rating—4.6/5
Netsuite is an industry-leading, cloud-based ERP solution that helps you centralize your company data across all departments. This allows managers and other decision-makers to access all the necessary information they need when making important decisions about their business.
The software includes various features for automating core processes and collecting real-time information about operations and finances.
In particular, the software suite provides reporting and data insights on inventory and payroll management, human capital, planning, revenue management, and much more.
NetSuite has almost any functionality that a business needs. A truly full-featured ERP, this software suite stands out as a distinct leader in the industry.
Oracle NetSuite ERP Customer Support Rating—4.5/5
NetSuite offers customer support only behind its paywall. Up front, you have access to the NetSuite blog with well over 1,500 articles. You also, of course, have full access to sales representatives through live chat and a free client consultation.
Once you are a paying customer, you can contact service representatives via phone, email, and live chat. Top users recommend using the live chat option for faster customer support response time.
The company also offers an online knowledge base that is considered to be quite helpful by all accounts. The articles cover specific questions, general product information, and other areas of interest to those who use NetSuite.
Oracle NetSuite ERP Ease of Use Ratings—4.5/5
NetSuite is a remarkably robust and complete ERP. As such, there is no getting around the fact that there will be a learning curve if you want to maximize the potential of the software. Even so, the available documentation and training videos are thorough and user-friendly.
NetSuite’s interface is clean and well laid out for good ease of use. Furthermore, there is a great deal of customization available to tailor everything to your unique business needs.
For its relative power as an ERP, NetSuite is user-friendly. After purchase, the company also provides fee-based consultations to train users to get the most out of the software.
The developer is committed to providing a quality experience for its users, and it does not disappoint. The interface provides you with a comprehensive overview of your business and allows you to complete all tasks in a matter of clicks with great ease of use.
Oracle NetSuite ERP Value For Money Rating—4.4/5
When it comes to cost, NetSuite is one of the more expensive products in its class. You can expect the lowest-end installation to run over $500/mo, well above the average cost of its competitors.
However, one can argue that the value for money is high when you consider all that the software offers. In the same way that most other software suites are cheaper than NetSuite, these do not have the breadth and depth of features that NetSuite does.
If your needs are simple, many would argue that you should look elsewhere because NetSuite is not the sort of software that small companies should start with. It is complex and comprehensive and you may not need all that functionality when you first start a business.
However, if your needs are greater, this expense may quickly be covered by the additional sales your company will realize from its newfound efficiency.
NetSuite is the sort of business management suite that you want to have if you need a sound foundation for a serious, successful company that has no intention of remaining small and simple. It provides all the tools necessary for growth and expansion from start-up to success.
Public NetSuite Reviews
Although my evaluation is that NetSuite is an extremely capable product, I went out to a number of review sites to see what users were saying about this software.
Capterra NetSuite ERP Reviews
The first NetSuite ERP review is from Capterra, which rates it at 4.1/5.0 overall. They base this on data from a respectable 750 reviewers. Capterra also provides breakdowns in the categories of Ease of Use and Customer Service. In these areas, NetSuite got a score of 3.8/5 for Ease of Use and 3.6/5 for Customer Service.
Those who reviewed NetSuite were extremely positive about how NetSuite was a true, “one-stop” ERP system that could scale up and grow with a business—no matter the company size. They felt the software was remarkably powerful and that it would be easy to expand the use of the program as the business got larger. They also liked the ability to personalize the dashboard with customized viewing and reporting features.
The negative reviews were obviously from people who were disappointed in some aspect of the product. There were comments about “frustrating implementation” and “excessive error messages” that were not adequately resolved through customer support, and “unprofessional interactions” with NetSuite staff.
On the whole, however, most reviewers were satisfied with NetSuite. They repeatedly stated that it is the #1 ERP on the playing field for a good reason and that it is easily the best option for any company needing a scalable and powerful ERP system.
TrustRadius.com NetSuite ERP Reviews
NetSuite received a score of 7.6/10 on TrustRadius.com based on 437 reviews. Only 40 reviews were negative, but surprisingly, there were more level 7–8 reviews (200) than there were level 9–10 reviews (133).
That being said, the positive reviews were extremely positive and mentioned that the software was powerful yet had good ease of use once you got used to it. They also loved how robustly integrated it was. No matter what aspect of the software they were using or their company size, it seamlessly tied into all the others. Truly an end-to-end ERP, the reviewers loved the fusion from the front-end to the back.
The negative reviews were just that and covered several topics: pricing levels, implementation issues (particularly timeframes) that they felt could have been better managed or overseen by NetSuite staff, and complaints about help desk support. Further, the user interface (UI) was criticized as being too complex and difficult to navigate.
Overall, the TrustRadius reviewers were satisfied with the software and felt it was a good solution for almost any company. With the ability to handle everything from accounting and inventory management to order processing and purchasing, NetSuite was certainly deserving of the positive reviews it received.
GetApp NetSuite ERP Reviews
On GetApp.com, NetSuite receives a score of 4.1/5, with 81% positive reviews on the strength of 751 reviews submitted. Additionally, 89% of reviewers would recommend the software to a friend.
The positive reviews focused on the integrated nature of the software and how it handled all aspects of business. Further, they mentioned its scalability – both in terms of capacity (if you want to add more users) and geography (with multi-currency capabilities, for example). They were favorable about the implementation team who helped set up the system and the extensive customization available within the software suite.
The cost was one of the most recurrent causes of a negative review on this site. Even positive reviewers, like those who love the customizability, commented that making the software fit your company “like a glove” came with a hefty price tag, regardless of company size. Another common theme among the negative reviews was the complaints about training costs—specifically, how expensive it could be to train staff on this fairly complex system.
Overall, reviewers were satisfied with the product, its ease of use, and how it can easily create an end-to-end business management software solution for a company without purchasing additional apps or hiring outside consultants.
Frequently Asked Questions
What is the Oracle NetSuite ERP?
NetSuite is an integrated, cloud-based, enterprise resource planning software that streamlines the way organizations operate. From this single platform, businesses can run real-time and historical reports, manage inventory and operations, connect with customers and partners through online storefronts, generate financial statements, monitor key business performance metrics to identify growth opportunities, and much more.
Is NetSuite ERP legit?
NetSuite is a part of Oracle, one of the preeminent software and services companies in the world. Given Oracle’s company size, strength, and growth trajectory, there can be no question that NetSuite is a solid business partner. Not only this, but there are a large number of third party companies that sell and install the suite. With this size of ecosystem, this highly customizable management solution will be around well into the future.
What are some of NetSuite’s ERP features?
NetSuite’s system offers the simplicity of cloud-based software combined with the power of a comprehensive ERP solution and planning suite. Designed to work for any business, it enables greater visibility and control over your entire organization so you can reach new levels of success. NetSuite’s features include accounting, inventory, CRM, and e-commerce. NetSuite’s ERP software can help you make better business decisions by improving financial visibility and operational efficiency.
Who should use NetSuite ERP?
NetSuite is a popular choice for many medium-sized businesses because of its flexibility and scalability. This software can be used by a variety of industries, from software to retail to manufacturing. Its wide range of features allows you to customize your NetSuite environment, so it works best for your business needs. It’s an ideal solution for companies that are planning for growth, offering features that are scalable so you can grow with them.
Do I need NetSuite ERP?
If you are looking for a comprehensive platform to run your business, NetSuite can be the answer. You get a single system to manage all the finances of your company and monitor its performance. NetSuite allows you to track inventory, manage orders, and undertake future planning regardless of your company size. This includes everything from tracking orders, shipping products, managing relationships with customers, as well as processing payments—all with a single solution. Many mid-sized businesses find that the highly customizable NetSuite software provides them with the business intelligence they need to grow to the next level.
Is there an app for NetSuite ERP?
The NetSuite mobile app is a secure, web-based application that enables you to access data from anywhere and at any time. The mobile application is available for both iOS and Android devices. It gives users the ability to view financial and operating reports, manage items in stock, add or update customers, invoice new orders, pay bills by check or ACH, and match purchase receipts with vendor invoices.
Does NetSuite ERP have a refund policy?
Unfortunately, the murkiness of the NetSuite pricing plan extends to its refund policy as well. A number of online reviewers advise others to be sure that this is the right ERP system for you prior to purchasing, which suggests that refunds are not offered.
Can I try NetSuite ERP before signing up to see if I like it better than our current system?
NetSuite offers a free tour of the product and consultation with one of its customer representatives. Although it may be possible to negotiate a trial period with the sales team, there is no overt free trial offer on the company website.
Does NetSuite ERP work with other software?
NetSuite integrates with more than 80 third party software providers, allowing you to access your data in real time from within NetSuite. These integrations cover a wide variety of areas and include platforms like UpKeep, Asset Panda, EZOfficeInventory, ShippingEasy, SimplyBook.me, and CoConstruct. Further, it works with DocuSign, Dynamics 365, Housecall Pro, Eversign, Kahoot!, and ClockShark. There are some areas of business where NetSuite does not integrate with an external provider.
What is NetSuite ERP customer support like?
NetSuite has a robust customer support system in place, particularly for the higher-priced tiers. At all levels, NetSuite offers a great knowledge base of articles and videos that troubleshoot many common questions. But one of the most interesting things about their customer support is how accessible their phone and email (or ticketing) support really is.
What can I do with NetSuite ERP?
NetSuite helps companies manage every aspect of their business for every company size. It is designed to streamline the back office, retail, and field services operations so you can focus on your core competencies. With this suite, businesses acquire new customers then engage with them over time. The ERP shines in the financial management and accounting areas and includes sales forecasting tools and the ability to collaborate with your workforce. The program gives you access to invoicing, time-tracking, expenses management, reporting, and online payroll. NetSuite is a user-friendly, comprehensive, and flexible solution that can grow with your company from the start to finish in an efficient manner.
Do I have to pay for NetSuite ERP on an ongoing basis?
Yes, you do have to budget for a recurring subscription to use the software. This is no different from the pricing model used by competitor products. You may pay for NetSuite annually upfront or in monthly installments. The choice is yours, though there is a discount on annual rate plans.
Is my data safe with NetSuite ERP?
NetSuite is an established company that has been around for years, and they are determined to maintain their reputation as a top provider of software solutions. They offer top-of-the-line security that they constantly update to stay ahead of any potential threats. This means you can be sure that they have safeguards and policies in place to safeguard user information and ensure security across their entire network so that your data is safe and secure with them.