NetSuite is a business management software suite offered as a service that performs enterprise resource planning (ERP) and customer relationship management (CRM) functions. It is a horizontal package designed for an extensive range of industries. The NetSuite Financials system can integrate with a company’s back-office, sales, and service processes.
NetSuite Financials includes applications for financial accounting, financial reporting and analytics, payment management, order and billing management, supply chain management, and inventory management. Financial information through NetSuite can be accessed through a web browser or mobile device. The system undergoes automatic upgrades and comes with various customization options.
NetSuite is web-based and runs on a range of Internet browsers. It supports data export into IIF or CSV files. Data security is ensured through NetSuite’s data center and the built-in security controls of the suite itself.
Austin from Chartboost, Inc.
Specialty: Software / Technology
Portfolio size: 6 to 10 users
NetSuite combines the ease of use of QuickBooks with some of the power of the large scale ERP systems. The staff accountants had no problem picking up their daily duties after we implemented NetSuite, but some of the advanced features, such as the CSV imports, have made everyone's lives easier. Also, their online help is easy to navigate and has extensive content.
Since there are so many features available that we don't use, they can sometimes be confusing to the user. It's possible to hide those options, but customizing the system takes some time.
It's helpful to consider the automated processes available in NetSuite and if they could be applied to some of the functions you perform in your current system. We save a lot of time with out-of-the-box imports, and we're also taking advantage of custom scripts to do other time consuming tasks.
Emily from Chartboost, Inc.
Portfolio size: 6 to 10 users
I like the reporting, as well as the FX translation and consolidation. Pretty much anything is upload-able, even payment application for payables. You can email out AR invoices in batches, and the AR collection statements are really clear and easy to read. The system also accepts API connections, so we plan to create connections in the future with our other programs.
We can't email out AR invoices to multiple email addresses without paying more for a personalized script to be written, as this is not out-of-the-box functionality.
Ensure you get a thorough demo of all your key areas required.
Ben from Sonoma Wine Accessories
Date: June 2011
Two and a half years ago, we used a custom eCommerce website patched together with Quickbooks and several APIs for shipping, CRM and credit card processing. That system, which required significant webmaster expenses and took 15 minutes to process a sale order, worked fine for our high-dollar, low-volume transactions. But when we decided to expand our business to include low-dollar, high-volume transactions, we needed a more powerful, integrated system that would provide: 1. faster processing time 2. integrated CRM 3. mass marketing capabilities 4. customer support 5. a hosted, role-based solution.
NetSuite has provided all of these benefits - incredibly - at a cost savings!
Implementation took 5 months - it was super intense - but with heavy assistance from NetSuite and fantastic customization work from SuiteCommerce, we launched on time and on budget, and we haven't looked back.
NetSuite requires commitment and because it's so powerful, it's complicated. But with the appropriate commitment, there's not much else that can provide the benefits and advantages of NetSuite's integrated system.
We couldn't be happier with NetSuite.