Oracle NetSuite is an incredibly powerful ERP software. But as the reviews show us, it might be worth your time to consider some NetSuite alternatives. Here’s why!
4 Reasons to Switch from NetSuite
1. Cost:
The platform’s pricing is hard to find, and tough to understand – which is why we have blogs like these.
In addition, NetSuite quotes different prices based on the specific needs of each company. This can make it hard to predict the cost of acquiring this tool.
2. Complexity:
NetSuite is feature-rich. But that also makes it tough to learn and use.
If your company is small or doesn’t need so many extras, a simpler ERP might be what you need.
3. Customization:
When it comes to customization, nothing can really beat NetSuite.
But with customization comes complications. Consider if you need that level of customization for your business.
4. Industry fit:
While NetSuite caters to many industries, it provides targeted solutions for software, manufacturing, and wholesale/retail.
If your industry has specific needs, it’s time to consider NetSuite alternatives.
PS: For a special offer, read till the very end.
Top 7 NetSuite Alternatives and Competitors in 2024
1. Sage Intacct
Leading the pack of NetSuite alternatives is Sage Intacct, and they have been doing so for a long time. In fact, they even have a dedicated page for it. For businesses with a strong focus on financials, Sage Intacct can deliver more value for money compared to NetSuite.
Top Features:
- Consolidation capabilities: This is ideal for businesses with multiple entities or subsidiaries, allowing for efficient financial reporting across the entire organization.
- Advanced allocation tools: Distribute costs and revenue across different departments or projects accurately.
- Fixed asset management: Automate tracking and depreciation of fixed assets. This ensures accurate financial statements and tax calculations.
- Modules: Consists of financial reporting and dashboards, contract and subscription billing, project accounting, and revenue recognition.
- Other Capabilities: Includes multicurrency support, global consolidation, and open API.
Comparison:
- Sage Intacct was designed for financial management and accounting. So if your primary focus is on financial processes, Sage Intacct might be a better solution than NetSuite.
- .While both are powerful solutions, Sage Intacct is viewed as more user-friendly.
Pricing: On request
2. QuickBooks
QuickBooks is a popular solution for smaller businesses and freelancers. While not as in-depth as an ERP system like NetSuite, QuickBooks offers some features that make it a strong alternative to NetSuite.
Top Features:
- Invoicing: Create and customize invoices and send payment reminders.
- Expenses: Prepare for tax season with clear expense overviews.
- Bank Feeds: Sync bank, credit card, and PayPal accounts to QuickBooks for better financial control.
- Inventory Management: Manage inventory quantities with real-time updates and low stock alerts.
- Receipt Organization: Capture and organize receipts by matching them to bills.
- Mobile App: Run your business on the go with the QuickBooks mobile app.
- Insights and Reports: Assess business performance with easy-to-read reports and cash flow planning tools.
- Multi-Currency Support: Send international invoices, record global transactions, and assign currencies to different customers.
Comparison:
- QuickBooks is ideal for small businesses that require just the essentials.
- NetSuite provides a more advanced range of features that make it more suitable for enterprises.
Pricing: 30-day free trial available. Paid plans start at $9/month.
3. SAP Concur
As a matter of fact, SAP Concur isn’t a direct competitor to NetSuite. In fact, it isn’t even a full-fledged ERP like NetSuite. So why did we include it on this list? Because it focuses on a specific area – travel and expense management (T&EM) – and it does so brilliantly.
Top Features:
- Expense Management: Easily track expenses, reports and reimbursements.
- Travel Management: Capture travel reservations, ensuring compliance and streamlining the process.
- Invoice Management: Automate it all with electronic invoice capture and vendor payments.
- Budgeting and Forecasting: Gain control with near-real-time and consolidated views of expenses.
- Audit Services: Ensure accurate expense audits without increased demands on employees.
- Payment Solutions: Simplify vendor payment and expense reimbursement with automated systems.
- Company Bill Statements: Generate detailed, itemized statements for employees and management.
Comparison:
- SAP Concur automates and simplifies expense reporting, corporate travel booking, and invoice management.
- However, it doesn’t have the broader functionalities of NetSuite. So what you choose depends on the specific needs and priorities of your organization.
Pricing: On request
4. TallyPrime
Tally Prime is a business management software. Out of all the NetSuite alternatives, this is aimed particularly at businesses that have operations in India. It is known for its user-friendly interface and simplified data entry.
Top Features:
- Enhanced Inventory Management: Take advantage of comprehensive inventory management capabilities – including godown management, multiple stock valuation methods, batch and expiry date tracking, and inventory reports.
- Invoicing & Accounting: Simplify the creation and recording of invoices with customizable templates and billing modes.
- Business Reports: Get powerful insights with access to 400+ customizable business reports.
- GST & Taxation: Quickly generate GST-compliant invoices and file accurate GST returns. Also handle other statutory items, including TDS, TCS, and payroll-related tasks.
- Credit & Cash Flow Management: Simplify the management of accounts receivable and accounts payable.
Comparison
- Tally Prime caters to the specific needs of Indian businesses – including compliance with Indian tax regulations (GST etc.). This can be an advantage if your business operates in India.
- NetSuite, on the other hand, is a more comprehensive ERP solution for businesses globally.
Pricing: Paid plans start at USD 81 for 3 months.
5. Odoo
Odoo offers a suite of open-source business apps covering CRM, e-commerce, accounting, inventory, project management, and more. In short, a comprehensive solution for various business needs.
Top Features:
- E-commerce Software: Get a comprehensive catalog of products and detailed product description pages.
- CRM Software: Visualize your next actions, track opportunities, and manage revenues.
- Sales Tools: Create professional quotes and send offers with clear pricing.
- Inventory: Get stock level alerts and complete traceability.
- Purchase: Automate procurement, track purchase orders, manage supplier information, and handle invoices.
- Project Management: Track projects from contract to billing.
- Marketing: Enable mass mailings, tracks campaign performance, and improve conversion rates.
- Event Management: Organize and manage online events, meetings, conferences, and webinars.
- Human Resources: Manage HR operations, recruitment, appraisals, timesheets, payroll, and more.
- Finance: Get accounting with analytics, budgeting, assets, and multi-company consolidation
Comparison:
- While NetSuite is a customizable ERP software, Odoo is an open-source platform that helps you build your ERP system from the ground up.
- Compared to NetSuite, Odoo can be a major cost saver, especially for startups or budget-conscious companies.
Pricing: Free plan available. Paid plan starts at $6.95 per user per month.
6. RamBase
RamBase is a cloud-based ERP software designed for manufacturers and wholesale distributors. It is a more cost-effective option compared to other tools on this list. This makes it a good fit for mid-sized businesses.
Top Features:
- Modules Integration: Integrate core business functions like finance, supply chain management, CRM, and HR.
- Industry-Specific Solutions: Get specific modules for your needs if you’re in manufacturing, distribution, retail, or professional services.
- Scalability: RamBase is built for mid-size businesses and scales as your company grows.
- Mobile Accessibility: Access all key features through the RamBase mobile app.
- Manufacturing: Get complete control over manufacturing processes with production planning, scheduling, quality control, and shop floor tracking.
- Deployment Options: Get on-premise deployment along with cloud-based options.
Comparison:
- RamBase excels in specific industries – particularly manufacturing, professional services, and project management. If your business falls into one of these categories, RamBase might fit your needs better than NetSuite.
- Businesses with extremely strict security requirements will prefer RamBase it gives more control over their data. NetSuite is primarily a cloud-based ERP.
Pricing: On request.
7. Microsoft Dynamics 365 Business Central
An ERP by Microsoft? Well, one of them. Microsoft offers multiple ERP solutions under the Dynamics 365 umbrella, and this platform is especially suitable for SMBs.
Top Features:
- Financial Management: Manage finances end-to-end, including budgeting, cash-flow projections, and financial reporting.
- Order Processing: Streamline with automated workflows and real-time inventory tracking.
- Sales & Marketing: Connect sales and marketing teams, manage customer interactions, and enhance customer service.
- Warehouse Management: Automate warehouse operations and optimize storage facilities.
- Resource & Project Management: Manage projects and track resource utilization.
- Service Management: Manage service operations, including contracts, warranties, and SLAs.
- Integrations: Connect with other Microsoft cloud services, such as Office 365, and Power Apps, Power Automate, and Power BI.
Comparison:
- If your team uses Microsoft products like Excel, Dynamics 365 offers a familiar interface and UX. This can make it easier to learn and adopt.
- Dynamics 365 enables a more unified workflow and data sharing if you’re already using Microsoft products. While NetSuite does have integrations, it might not be as seamless.
Pricing: Starts at approx. $69 per user per month. Free trial available.
Wrapping Up
That wraps up our list of the top NetSuite alternatives for 2024. While the processes involved in business management can seem overwhelming, these tools go a long way toward simplifying them.
But how do you know if these processes are working or not?
All you have to do, is ask. Customer feedback software like SurveySparrow can help you collect feedback effortlessly at any point within your ecosystem.
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