Netsuite review: Pros, cons, ratings, & alternatives

What is NetSuite?

NetSuite is a cloud-based enterprise resource planning (ERP) suite serving over 41,000 customers worldwide. It provides AI-driven automation and analytics across multiple business functions, including:

• Financial management and enterprise resource planning (ERP)
• Human capital management (HCM), including HR and payroll
• Customer relationship management (CRM)
• Inventory, supply chain, and order management
• E-commerce and omnichannel commerce solutions
• Project management and professional services automation (PSA)

NetSuite helps increase productivity and efficiency by connecting, automating, and simplifying accounting and operating processes. It allows you to see real-time business insights at the click of a button and uses business intelligence to help with forecasting and scenario planning.

In short, NetSuite gives you clear visibility into your data, facilitating tighter control over your business.

NetSuite review

NetSuite is a comprehensive financial management solution that provides a wide range of tools and features. In fact, NetSuite is one of Cube’s most popular accounting and finance integrations!

Cube connects with NetSuite and can import, clean, and organize your data so you can work with it directly in Excel or Google Sheets. 

Who is NetSuite for? 

NetSuite is best suited for mid-sized and enterprise companies that require an all-in-one, cloud-based ERP solution for complex financial planning, operations, and business management. While NetSuite does offer options for businesses of all sizes, smaller companies may find its extensive features, customization requirements, and pricing unnecessary for their needs.

With over 41,000 customers across more than 200 countries, NetSuite serves a diverse range of industries, including education, finance, manufacturing, healthcare, retail, and eCommerce. Its modular design allows businesses to tailor the platform to their needs, whether for financial management, inventory control, customer relationship management (CRM), or supply chain management.

Oracle NetSuite products 

Oracle NetSuite offers various products for businesses to streamline their processes, manage resources, and adapt to change. 

Enterprise Resource Planning (ERP)

Who it’s for: NetSuite ERP is for large organizations looking for an AI-powered cloud-based business management solution.

NetSuite ERP is a business management software that allows organizations to automate their core processes and get real-time visibility into financial and operational performance through a dashboard that provides an in-depth or summary-level view of business activity. 

Product features: 

• Financial management: Automate financial processes and improve financial efficiency, productivity, and operations. 
• Enterprise performance management: Consolidate planning, forecasting, budgeting, financial close, and account reconciliation across the entire organization.
• Order management: Prevent errors in order procurement.
• Inventory management: Gain visibility into inventory levels, carrying costs, and orders.
• Warehouse management: Minimize picking errors and optimize the putaway process.

Accounting software

Who it’s for:  NetSuite’s accounting software is for businesses that want to streamline transaction recording across multiple business units and improve compliance. 

NetSuite’s cloud accounting software helps businesses streamline transaction recording, manage receivables and payables, close their books, and generate financial statements or disclosures that comply with regulatory financial requirements. 

Product features: 

• Accounts receivable: Automate and streamline payment processing, invoice delivery, and collections management. 
• Accounts payable: Automate accounts payable processes to improve cash flow and ensure compliance with internal policies.
• General ledger: Enhance audit trails and customize reporting segments or account types to meet specific business requirements.
• Cash management: Optimize cash flows, manage liquidity, and monitor bank accounts. 
• Account reconciliation: Centrally manage and automate reconciliation for receivables, payables, bank, credit, inventory, and other balance sheet accounts.

Global business management

Who it’s for: NetSuite’s global business management platform is for companies that want to manage multiple subsidiaries, business units, and legal entities from a single ERP. 

The global business management software supports 27 languages and 190 currencies, allowing businesses to work with suppliers and customers worldwide, automate financial consolidation and currency conversion, and leverage country-specific configurations to ensure compliance with relevant local laws, tax, and accounting practices. 

Product features: 

• Multi-currency: Do business with suppliers and customers globally through a wide range of payment options. 
• Multi-language: Bridge communication barriers through a multi-language user interface. 
• Global accounting and consolidation: Use multiple financial statements to accommodate differences in financial reporting and accounting at the local and headquarters level.
• Consolidated financial statements: Automatically posts transactions at headquarters and local levels to simplify the generation of consolidated financial statements. 
• Indirect tax management: Leverage a configurable tax engine to manage tax globally and automate tax compliance. 

Customer resource management (CRM)

Who it’s for:  NetSuite’s customer resource management platform is for businesses that need a single view of their customers, prospects, vendors, and partners. 

NetSuite’s CRM enables organizations to manage quotes, commissions, sales forecasts, and partner relationships by giving sales, marketing, and support teams access to real-time data to manage the entire customer lifecycle, from generating leads to closing a deal and providing support to customers.

Product features:

• Salesforce automation: Integrate the sales process and get visibility into all aspects of the customer relationship.
• Marketing automation: Automatically track and measure the success of marketing campaigns. 
• Customer service management: Build and automate case management processes.
• Partner relationship management: Leverage real-time information flow between business and partners to maintain control over partner-focused sales. 
• Mobile-friendly: Use mobile devices to update customer and sales data. 
• Reporting and analytics: Continuously monitor performance using inbuilt reporting and real-time analytics.

Human resource management (HRM)

Who it’s for: NetSuite’s HRM system is for organizations that want to connect HR and payroll data with financial, budgeting, procurement, and project planning processes.

The HRM system enables HR and payroll teams to combine financial and HR data in one place to gain visibility into the impact of workforce performance on financial performance and create a more engaging workforce experience.

Product features:

• HR administration: Automate time-wasting HR processes and monitor key KPIs using dashboards. 
• Payroll: Efficiently manage payroll processing end to end and stay in control of payroll expenses.  
• Benefits: Enables employees to search for and enroll in health insurance plans within NetSuite. 
• Performance management: Use a central platform to implement the performance review process.
• Workforce management: Manage time off, time and attendance, wage calculations, shift scheduling, and track compensation and benefits. 

Professional services automation (PSA)

Who it’s for: The PSA tool is for businesses that need real-time visibility into resource utilization and project portfolio health so they can better manage billing and expenses. 

NetSuite PSA provides a comprehensive, end-to-end PSA system for businesses to bring together, plan, and track project activities and resources to unify all project-based service components that an organization needs to run its business. 

Product features:

• Project accounting: Connect project activity with company financials for accurate accounting and billing. 
• Project management: Enables project managers and team members to collaborate in real-time.
• Resource management: Ensure that the right resources are on the right projects.
• Timesheet management: Customize timesheets to capture detailed records of work hours. 
• Expense management: Maximize the timeliness of expense reporting, submission, and approval. 

Analytics and reporting

Who it’s for: NetSuite’s analytical and reporting tool is for organizations looking for an AI-powered business intelligence platform that provides visibility into operational and financial performance across all business functions.

NetSuite’s analytical and reporting tool is a standalone platform that offers prebuilt and easily customizable reports and analyses that enable businesses to get the data they need through key performance indicators (KPIs) and role-based dashboards. 

Product features:

• Reporting and dashboards: Understand what’s happening in the business using real-time reporting and KPI dashboards. 
• Data warehouse: Use a prebuilt data warehouse to consolidate Netsuite and non-NetSuite data.

SuiteCloud Platform

Who it’s for: The SuiteCloud platform is for organizations that want to build tailored solutions in a controlled setting without disrupting the platform's existing operations.

The NetSuite SuiteCloud Platform is an extensibility environment that enables companies to customize the core NetSuite product to fit their unique business needs using a set of flexible and unified solutions, including business application development and no-code customization. 

Product features:

• Customization: Create custom forms, records, and components using out-of-the-box tools.
• Process automation: Visually define workflows using no-code tools and automate processes. 
• Performance monitoring: Gain visibility into performance and stability using real-time health monitoring dashboards. 
• Integration: Leverage flexible integrations to connect with any customer environment. 
• Platform development: Build and manage custom applications and objects. 
• Application distribution: Create and centrally distribute in-house applications. 

Connectors 

Who it’s for: The NetSuite connectors product is for organizations looking for a tool that enables them to map data between NetSuite and marketplaces, third-party logistics, point of sale (POS) systems, and eCommerce platforms.

NetSuite connectors support automated data transfer between NetSuite and other platforms using preconfigured integrations that allow users to store information in a central place and eliminate manual data entry errors.

Product features:

• eCommerce: Manage product pricing, inventory levels, and details, and receive customer orders. 
• Marketplace: Relay status updates of orders to the marketplace platform.
• CRM: Integrate customer data between your CRM and NetSuite to reduce data silos. 
• Logistics: Automatically send orders from your ERP to vendors, customers, or warehouses. 
• POS: Sync payment and sales information from NetSuite to your POS. 

Omnichannel commerce

Who it’s for: NetSuite’s omnichannel commerce platform is for organizations that want to unify multi-channel and multi-location operations across POS, online, and in-store sales channels. 

NetSuite’s omnichannel commerce enables businesses to manage cross-channel sales on a single platform and create consistent B2B and B2C in-store, web, and mobile experiences for customers.

Product features:

• eCommerce: Support B2B and B2C commerce on a single platform.
• POS: Use an in-store mobile POS to handle transactions such as cash and carry, exchanges, and returns.
• CRM: Capture all customer data into a single repository to get a complete view of touchpoints. 
• Order management: Manage orders in-store, via the web, call center, kiosk, and other platforms. 
• Inventory management: Optimize inventory visibility companywide to minimize overstocking and wastage. 

SuiteSuccess 

Who it’s for: This tool is for organizations with multiple product lines, service offerings, and operations in multiple countries to manage all aspects of the business via a single system. 

SuiteSuccess provides preconfigured business solutions such as manufacturing, apparel and footwear, retail, food and beverage, and healthcare that organizations can simply integrate into their current processes. 

Product features:

• Editions: Leverage predefined workflows, function roles, dashboards, reports, and KPIs for any business.  
• Stairway: Get all the tools you need to manage core financials and manage data in real-time. 
• Business visibility and intelligence: Unify all NetSuite business applications to centralize data. 

NetSuite integrations

Looking to integrate your existing systems with NetSuite? Here's a look at what's possible.

NetSuite integration with eCommerce and marketplace

NetSuite integration with eCommerce storefronts allows businesses to manage product inventory levels, pricing and details, and receive customer orders from an eCommerce application within Netsuite. 

Popular integrations: Shopify, BigCommerce, Adobe Commerce, WooCommerce, Amazon Seller Central, Amazon Vendor Central, eBay, Walmart 

NetSuite integrations with customer relationship management

NetSuite enables businesses to share data between their CRM and NetSuite to reduce data silos and improve revenue recognition processes and order-to-cash. The integration provides visibility into order fulfillment details, customer information and financial information.

Popular integrations: Salesforce, Zendesk, Hubspot, Freshdesk, Zapier, Asana

NetSuite integrations with logistics

NetSuite integration with logistics platforms lets users automate order processing and speed up order fulfillment by automatically sending orders from the ERP to vendors, customers, and specific warehouses.

Popular integrations: ShipStation, Amazon Multi-channel Fulfillment (MCF), UPS, DHL, FedEx, TNT

NetSuite integrations with point-of-sale

NetSuite allows businesses to easily add data from multiple business locations as the business grows by syncing payment and sales information from point-of-sale systems to NetSuite. 

Popular integrations: Shopify POS, Oracle Simphony POS, Lightspeed, Vend, Connect POS

NetSuite integrations with finance and accounting software

NetSuite’s integration with finance and accounting software enables finance teams to sync data between NetSuite and their financial software to automate processes such as invoicing, payments, and financial reporting. 

Popular integrations: Cube, Jirav, Xero, Quickbooks, ADP, Workday

Is NetSuite easy to use?

Many current customers have reported on how easy it is to use NetSuite. Compared to other business and accounting software solutions, NetSuite has many simplified features that are user-friendly and integrate into your current workflow. 

Customer support is always available, though there are some limitations depending on which plan you choose. 

NetSuite pricing 

NetSuite doesn’t provide pricing on its website and suggests organizations reach out for custom pricing. However, customers and reviewers have reported that NetSuite costs include a $999 per month licensing fee, as well as an additional $99 per month for each user. 

Note that licensing costs can vary by country, how many modules you include in your plan, how many subsidiaries you have, and how many partial users you add. 

NetSuite customer reviews

"My overall experience was very good. And the software is very useful and can give you all the desired information at the click of a button." - Capterra

“I like the consolidation ability for multiple subsidiaries. I like the revenue recognition module." - Capterra

“So customizable that you can configure it to do just about anything. A unique product that can really be for anyone. Once live, it's fairly intuitive.” - Capterra

“Netsuite has seemingly endless options to customize everything from aesthetics to functionality and as long as you're willing to do most of the learning on your own, pay for extended training or pay even more for a partner or consultant to help, it's a great program.” - G2

“I like that Netsuite is fully integrated, so there is no need for troubleshooting reconciling sub ledgers to the GL. I also like that Netsuite usually has links to help you navigate between linked records.” - G2

“The best part about NetSuite is the ease of use for new users across our organization. Being able to add new users and have them up and running within a few days is a huge time save for our business.” - G2

“We went live in mid-April 2022 and had a solid and engaged implementation team. Coming from multiple instances of QuickBooks, we were able to use NetSuite to fully consolidate our financials and see all of our information in one place.” - G2

NetSuite pros

1. Provides all the key information users need at a glance through a central dashboard.
2. Assigns permissions and allows for seamless collaboration with team members.
3. Offers several customizable options to help tailor the software to your needs.
4. Supports easy integrations with Cube, Shopify, Salesforce, and eBay.

NetSuite cons

1. The cost can be expensive for smaller businesses. 
2. The reporting functionality can be difficult to understand without some training. 
3. Native integration with Excel or Google Sheets isn’t available. 

NetSuite offers a wide range of products that serve various business needs. However, NetSuite might not be suitable for all organizations. User reviews show that NetSuite needs lots of customization, which can easily become expensive, and that some parts of the platform require extensive training or technical expertise to use. 

NetSuite alternatives

Many other companies offer similar products to NetSuite. It can be good practice to explore all of the options available, even if you’re already sold! Let’s review top NetSuite alternatives to help you determine which product is right for you.

Quickbooks 

Quickbooks is an accounting software for small businesses and self-employed freelancers to manage any number of data flows through one central management dashboard. 

Owned by parent company Intuit, you can easily integrate any of the products by Intuit for a more in-depth set of tools. Quickbooks helps finance teams improve collaboration, automate repetitive tasks, and streamline all aspects of a business’s finances. 

Also read: NetSuite vs. Quickbooks: How do they measure up?

Key features: 

• Invoices: Automatically create and send professional invoices.
• Expense tracking: Sync bank accounts, credit cards, and more, and categorize expenses.
• E-commerce: Import payouts and orders from connected sales channels.
• Banking: Deposit payments, upload checks, and match them to invoices in real-time. 

Pricing: 

• Simple Start: $17.50/month
• Essentials: $32.50/month
• Plus: $49.50/month
• Advanced: $117.50/month

NetSuite vs Quickbooks:

NetSuite’s accounting software offers account receivables, payables, reconciliation, and other accounting capabilities for large businesses, while Quickbooks provides a simple accounting and financial management platform for small business owners and accounting teams. 

SAP Analytics

SAP Analytics is a cloud-based business intelligence and enterprise planning software that allows organizations to unify financial, operational, and supply chain planning on a single platform. 

SAP offers generative AI capabilities to automate reporting, find trends in data, and build business plans. Users can integrate it with other SAP products to plan across all lines of business. The platform also lets users generate dashboards and reports using prebuilt content like data flows, models, and KPIs. 

Features

• Enterprise planning: Build complex scenario simulations using key business drivers.
• Analytics: Use business intelligence capabilities to access business data landscape insights.
• AI copilot: Leverage AI to automate complex tasks and simplify workflows.

Pricing 

• Business intelligence: $396
• Professional: $14,100
• Standard: $1,200

NetSuite vs SAP Analytics: 

NetSuite’s analytical and reporting platform provides AI-powered business intelligence tools for companies with large volumes of data to generate insights. SAP Analytics has generative AI and business intelligence capabilities for organizations to automate data analysis and develop business plans. 

Sage Intacct 

Sage Intacct is a cloud-based ERP software that helps businesses of all sizes manage their day-to-day finance-related activities. It simplifies and facilitates a wide range of bookkeeping, accounting, and financial tasks. Customers can access interactive reports and dashboards with real-time performance monitoring.

Sage is for teams between 10 to 200 in size. It’s most suitable for distribution, manufacturing, and professional services, but finance teams in most industries can customize the software for their needs.

Features: 

• AI-powered accounting: Automate time-consuming manual accounting processes.
• Dashboard and reporting: Turn data into insights using multidimensional dashboards and reports.
• Integrations: Use APIs to integrate with other software.
• Budgeting: Compare budgets against actuals and track spending.

Pricing: Pricing is not available on their website; customers must request a quote.

NetSuite vs Sage:

NetSuite’s ERP offers businesses an all-in-one cloud business management solution for large businesses to automate core processes. Sage is also a cloud-based ERP but focuses more on medium-sized businesses in multiple industries, especially financial services. 

Xero

Xero is an accounting software solution for small businesses, accountants, and bookkeepers. The platform is an all-in-one accounting solution that can save your business time and money.

With a clear overview of accounts payable and cash flow, users can track bills and pay them on time. Connecting your bank directly to Xero allows secure transactions to flow from your bank to Xero daily.

Features: 

• Bank reconciliation: Match bank data with receipts, invoices, and bills to reconcile financial records. 
• Payroll: Automate filings, deductions, and taxes.
• Inventory: Sync inventory, stock levels, and orders from multiple sales channels. 
• Claim expenses: Use an expense management system to track spending, reimburse expenses, and manage paperwork. 

Pricing: 

• Early: $1/month
• Growing: $2.35/month
• Established: $4/month

NetSuite vs Xero:

NetSuite’s accounting software integrates with other NetSuite products, allowing large companies with global operations to connect all financial data. Xero’s all-in-one accounting software provides functionality like bank reconciliation, payroll management, and expense management to independent consultants and small businesses that need affordable accounting software.

Odoo

Oodo is an open-source platform for finance, sales, supply chain, human resources, and marketing teams. It offers many products, including software for accounting, point of sale, CRM, HR, and more. 

Oodo’s accounting software allows users to manage customer invoices, vendor bills, and bank and cash balances. Users can automate data entry using an AI-powered invoice data capture tool and match transactions with financial records. 

Oodo integrates with various banks, removing the need for users to import bank statements. Organizations can automatically synchronize bank data and generate custom reports. 

Features

• Real-time reporting: Generate, annotate, and export financial performance reports in real time. 
• Deferrals: Defer revenues and expenses on each invoice or bill validation.
• Electronic invoicing: Send or receive electronic invoices in multiple formats.
• Dynamic taxes and accounts: Calculate the right taxes for customers or suppliers. 

Pricing 

• One app free: $0
• Standard: $24.90/user/month
• Custom: $37.40/user/month

NetSuite vs Odoo:

NetSuite has a range of proprietary products, including accounting software, ERP, CRM, and payroll software, that companies have to pay for. Odoo also offers these products, but Odoo, being an open-source platform, provides a free basic version, meaning organizations can access a suite of customizable products without needing to pay. 

FreshBooks

FreshBooks is an invoicing and accounting software for small businesses, freelancers, entrepreneurs, and contractors. It allows businesses to manage their bookkeeping, invoices, payments, and financial reports on a single platform. 

Freshbooks provides an API for users to build custom integrations and also integrates other software like Zapier, Square, Gusto, and Excel allowing users to sync business data. The platform also has a mobile app that works in any web browser on laptop, tablet, iPhone, and Android devices. 

Features

• Invoicing: Automatically add time, taxes, expenses, and payment options to invoices.
• Expenses: Track expenses with automated categorization, mobile receipt scanning, and bank account imports.
• Payroll: Manage payroll and pay staff on time.
• Reporting: Drill down into information using dashboards and generate custom reports. 

Pricing 

• Lite: $4.75/month
• Plus: $8.25/month
• Premium: $15/month
• Select: Custom pricing

NetSuite vs FreshBooks:

NetSuite’s accounting software supports global accounting and consolidation for businesses to do financial reporting and accounting at local, regional, and headquarters levels. FreshBooks’ all-in-one accounting software is for small businesses, freelancers, and contractors to do billing, payroll, and accounting at a local level.

Is NetSuite worth it?

NetSuite is a powerful and comprehensive financial management and business operations platform, making it one of the top choices for organizations looking to streamline processes and drive efficiency. From ERP and accounting to HR and eCommerce, NetSuite offers an all-in-one solution tailored to businesses of all sizes.

To maximize the value of NetSuite, consider integrating it with Cube. While NetSuite provides robust financial management and reporting, Cube enhances its capabilities by offering advanced financial planning, budgeting, and scenario modeling—giving you deeper insights and faster decision-making.

See the power of NetSuite and Cube in action. Request a demo with Cube today and discover how this seamless integration can transform your financial strategy and planning process.