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Benefits and Insights

Why use NetSuite?

Key differentiators & advantages of NetSuite

  • Customization and visibility: The ability for clients to develop solutions that are tailored to their own business needs is a driving benefit of NetSuite ERP. The tool also provides visibility across workflows, which provides heightened transparency across departments. 
  • Built-in workflows: Built-in workflows are helpful because they allow for the automation or streamlining of various business tasks, therefore improving productivity. This benefit includes more accurate financial management and omnichannel engagement. 
  • Control over business processes: NetSuite ERP gives companies more control over business processes. For example, the program contains a supply chain portal that makes sure your customers benefit from the same experience, no matter where exactly they decide to convert within the sales funnel. 
  • Real-time insights: Real-time data is a key benefit that, when paired with NetSuite ERP’s personalized dashboards, can help your company develop insights more quickly. This can reduce the amount of time you spend filtering and sorting data to develop actionable solutions for your business. 
  • Easily accessible: NetSuite ERP is a cloud-based solution, meaning that as long as you have internet access, you can use it. This means you won’t have to be tied to your desktop computer to work with its suite of tools, which gives you the freedom to work where and when you want. 
  • Relatively low cost of ownership: Cost is an essential factor to consider when implementing an ERP solution, which is why NetSuite ERP seeks to lower its price by eliminating IT expenses (both initially and on an ongoing basis.) It also provides automatic updates so that you don’t have to pay extra for maintenance. 

Industry Expertise

NetSuite ERP serves more than 16,000 clients across more than 200 countries. The solution works for a wide range of industries, including but not limited to retail, education, energy, food and beverage, healthcare, manufacturing and distribution.

Key Features

  • Sales Order Management: The sales order management tool provides automation that works to reduce manual errors and to speed up the billing and order management process. It is also integrated with other business functions such as finance and fulfillment. 
  • Source Management: This tool helps ensure compliance during the purchasing process through its centralized supply portal. It also has forecasting abilities that are able to recalculate predictions based on actual fluctuations. 
  • Warehouse Management: The warehouse management feature streamlines warehouse operations by decreasing overhead and cycle times. It can also improve rates of on-time delivery, therefore improving customer retention and ultimately boosting revenue. 
  • Production Management: The production management tool is integrated with CAD and PLM functionality. This feature assists in the development of quotes, tracking of contract renewals and cost estimation. 
  • Manufacturing Accounting: All of the basic features of accounting are present in this tool, from invoicing to forecasting. It can also help your company determine the amount of taxes you need to pay based on factors such as location and revenue. 
  • Transportation and Logistics: This tool is well-integrated with IoT functionality, as it lets you see in real-time where your transportation units are located. The logistic side of this tool provides inventory estimation based on historical data to help you decide what to order more of and what to order less of. 

Product Limitations

There are pros and cons to every software decision. Here are some of the reported limitations with NetSuite ERP that you might consider when selecting ERP software.

  •  Doesn’t contain social media tools 
  •  Can be difficult to configure a specific role-based aspect 
  •  Doesn’t include support for South-East Asian languages 
  •  Incompatible with accounting and reporting rules for countries such as Israel, and therefore requires a third-party package for these functions 

NetSuite ERP Suite Support

NetSuite ERP offers basic and premium support packages with features that vary depending on the system you go with. There is also an Advanced Customer Support (ACS) offering available for customers who need a greater degree of support on technical and functional elements.

mail_outlineEmail: NetSuite ERP does have email support available with its solution. However, support is typically done through an online ticketing system.
phonePhone: Telephone case submission is available for customers who go with the premium support option. NetSuite ERP provides toll-free 24/7 phone support for high severity issues. It provides phone support Monday through Friday from 8 a.m. until 6 p.m. local time for lower severity issues.
schoolTraining: NetSuite support provides access to the NetSuite User Community and NetSuite SuiteTraining. These features can help users learn more about functionality while also connecting them with other clients and NetSuite employees. The training feature includes online courses that you can either take at your own pace or with an instructor.
local_offerTickets: Cases can be submitted online by both basic and premium support customers. Premium support clients also have the ability to submit cases by phone.

Cost of Ownership for NetSuite ERP

License/Subscription Cost NetSuite ERP uses a subscription-based pricing model. The base monthly cost is $999, plus $99 per extra user per month.
Maintenance Cost The NetSuite ERP maintenance cost is included in the price of your subscription. If you purchase a license directly with NetSuite, you will also get NetSuite Support. There are silver, gold and platinum packages that are priced based on your annual contract value. This tool includes FAQs, tips and online user guides.
Installation/Implementation Cost Installation and/or implementation is an additional cost with NetSuite ERP. NetSuite requires that you use a third-party for implementation support. Therefore, price varies depending on which consulting firm you decide to go with.
Customization Cost Customization is an extra cost when purchasing NetSuite ERP. This is associated with the introduction of tools or programs that go above and beyond the “out of the box” software capabilities.
Data Migration Cost/Change Management/Upfront Switching Cost This is another cost that goes above and beyond that of the basic software package. The price of this is dependent on factors such as complexity and the amount of data that you need to move over to the new system.
Recurring/Renewal Costs Your recurring costs are dependent on the elements listed above, such as the number of users needed for your software solution, implementation, support and training services.

NetSuite Reviews

Average customer reviews & user sentiment summary:

2230 reviews

79%

of users would recommend this product

Synopsis of User Ratings and Reviews

Based on an aggregate of reviews taken from the sources above, the following pros & cons have been curated by a SelectHub Market Analyst.

Pros

  • Simple Implementation and User Interface: Approximately 38% of users reported NetSuite ERP has an intuitive user interface and effortless implementation procedures.
  • Robust Features: NetSuite ERP has a wide variety of modules and features to streamline operations such as manufacturing, warehouse fulfillment, searching, sales orders, reporting and more. Nearly 67% of users find these and other features robust and effective.
  • Customizable: Roughly 65% of users stated NetSuite ERP is customizable and flexible to their particular business needs.
  • Integratable: NetSuite offers several integrations with CRM, e-commerce and other software according to 75% of users.

Cons

  • Steep Learning Curve: Nearly 61% of users say NetSuite ERP has a steep learning curve and lacks a user-friendly interface.
  • Lagging Customer Support: NetSuite ERP's customer support is limited as support options vary based on the subscription plan, according to 87% of users.
  • Lacks Some Customization: Roughly 34% of users say NetSuite ERP's interface or features are not tailored to their business' needs.
  • Overwhelming Amount of Accessories: Of those users who commented on NetSuite ERP’s capabilities, 32% said they are overwhelming. Some features also lag in performance, causing production bottlenecks.
  • High Price Tag: Precisely 100% of users say NetSuite ERP has a high price tag, although most believe it's worth every penny.

Researcher's Summary:

NetSuite ERP extends an elaborate platform of modules that serve various industries and departments including accounting, manufacturing, warehouse fulfillment, HR, payroll and more that users are happy to merge with their business practices to boost productivity. Overall, the interface is user-friendly and comprehensive. However, there are costly subscription and payment plans that may be cost prohibitive to small and medium-sized organizations. Implementation can be difficult and customer support may lag in providing the ideal resources when problems arise. Most users believe NetSuite is worth the price tag.

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