NetSuite is a powerful piece of software that wears many different hats: accounting, ERP, inventory, and ecommerce software. The company, then called NetLedger, was founded in 1998 by Evan Goldberg. As this was pre-cloud computing, there weren't many business solutions hosted online (the vast majority were on premise), and this drew the attention of investors.
Later in 1998, Goldberg received roughly $125 million from Oracle's Larry Ellison venture capital. NetLedger became Oracle Small Business and then eventually became NetSuite, which is now a publicly traded company with offices all over the world, and pulled in approximately $741 million in revenue in 2015.
NetSuite separates its features into different areas (expenses, HR, pipeline analytics) and it's reflected in the design, with features being separated into different tabs across the top of the program. Below the tabs, corresponding information is displayed below and can be shown through graphics, charts, and stats.
However, it's important to note that NetSuite is incredibly customizable in that you can limit the number of tabs up top (let's say you just wanted to focus on sales) or track the average selling price of a product in a certain region of the world.
NetSuite ranks first in GetApp's ranking of accounting and business management solutions due to strong scores across the board in the data points of reviews, integrations, mobile, media, and security.
To get a better idea of NetSuite, we can take look at our user reviews to glean some general information:
Covers multiple categories: accounting, ERP, inventory, and eCommerce
Powerful and customizable
Reliability, no downtime
Takes little time to get software up and running
Software can be complicated to use, so pay attention during training
Expensive for small businesses
NetSuite is probably going to be too expensive (and unnecessary) for a small business that's just beginning; GetApp lists NetSuite's starting price at $499 a month. But a business that's starting to see significant growth, or an experienced C-level executive, should consider giving NetSuite a look.
Understandably, the full-blown NetSuite option might not be necessary or affordable for your business, so they've spun different features off into individual solutions. Some examples of this include their inventory management, CRM, and eCommerce apps.
NetSuite integrates with a total of 86 apps on GetApp, including Zendesk and Nimble. For marketing apps, NetSuite integrates with HubSpot (136 users on GetApp use HubSpot and NetSuite), Campaign Monitor (65), and Constant Contact (25).
Jeffery Gradek writes on GetApp, "We have been using NetSuite for our ERP/CRM requirements since 2009. We enjoy the flexibility of the product very much. Our implementation went well […] The integration of the ERP/CRM experience is unmatched."
Users are divided on how easy the training is for NetSuite, but they all agree that it is a powerful piece of software that offers lots of customization. Chris Snelling, senior financial analyst at TASC, found NetSuite easy to use and setup.
He writes, "NetSuite is easy to use and intuitive. Compared to other accounting software. I used to use SAP and to be efficient you had to memorize countless t-codes and go through dozens of awkward screens. You can become semi-efficient in NetSuite in a matter of days or even hours. It is cloud based and fully integrates with other important business software like Adaptive Planning."
Another reviewer on GetApp, who works as a controller and the company administrator for NetSuite, writes that support is responsive, but you might run into limitations based on your plan. They write, "Support is responsive, but depending on level of support purchased can take awhile to get answers and issues resolved. We have Silver Support which is limited to submitting cases on-line and waiting for NetSuite support to respond by email or call. NetSuite does assign an Account Manager who can be contacted by phone anytime to help expedite support issues as needed."
As mentioned above, NetSuite integrates with 86 apps on GetApp and ranks first in both our category leader ranking for accounting and business management. In accounting, second place Xero integrates with 174 apps on GetApp, while third place Freshbooks integrates with 88. In business management, second place WorkflowMax integrates with 13 apps on GetApp, while third place Avaza integrates with 45.
At first glance it might seem like business management apps don't seem to have many integrations, but this is more of a case that accounting is such a key function in companies that these apps need to integrate with a lot of different software. So NetSuite has fewer integrations than some accounting apps, but remember that the company has offers a full suite of applications that natively integrate with each other.
You should have a sense of NetSuite at this point, but let's go recap anyway.
NetSuite is good for: growing small and mid-size businesses that are looking for a customizable solution that covers multiple aspects such as accounting, CRM, and ecommerce.
NetSuite isn't great for: small businesses on a budget or those who can't devote resources to properly train staff on software.
If you are interested in finding out more about NetSuite, check out our alternatives page which will give you an even more detailed overview of the app, as well as its competitors.