Technology is advancing by the day. More and more inventions are hitting the floor with advanced options and functionalities. Both fronts are enjoying tremendous growth, whether it is the reformation of the hardware or the software aspect of technology. While the focus on the hardware component of technology is on sleekness and speed, that of software is on automation and centralized control.
This automation of different tasks with the help of advanced software technology is reducing the workload of humans. With more and more software and tools there to support you, the need to employ a number of employees to manage repetitive and regular tasks is reducing. Moreover, the control over such data is also improving with the help of centralized management.
This is something that Intacct vs NetSuite is focused on.
What is Intacct or Sage Intacct?
Intacct or Sage Intacct is one of the best cloud-based solutions for the management of finance in any business. Apart from financial management, the tool also helps businesses by providing smart services like ERP (enterprise resource planning) management, accurate accounting, plan management, and control, data analysis, payroll management, HRM, and much more.
With the help of this online solution, businesses of all kinds and from almost all forms of industries can easily get an automated system to manage the regular, repetitive, and tedious work related to the operations of the business and otherwise. The tool can not only automate the recording and management of such tasks and their associated data but can also help you in presenting and using the same in the best possible way for the stable and immense growth of the business. The platform was first introduced in 1999 but was procured by Sage Group in 2017.
What is NetSuite or Oracle NetSuite?
NetSuite or Oracle NetSuite is another one of the most amazing and best cloud-based business management suites. The main focus of the tool is on offering ERP or (enterprise resource planning) management, but the tool also excels in CRM (Customer relationship management), e-Commerce management, payroll management, HRM, financial management, accounting, and more.
The domain of NetSuite is quite broad and more inclusive than any other similar tool available for business. Just like Intacct, NetSuite also focuses on the automation of all the above-mentioned tasks. All the tasks handled by NetSuite are either repetitive or regular and at times miscellaneous. But, all these tasks are quite important for the business for sure.
NetSuite makes it easier for businesses to see things clearly and take the required decisions accordingly. The main goal of NetSuite is to help a business grow and perform better whilst reducing the cost for the business.
NetSuite was introduced in 1998 and was taken over by Oracle, the parent company of Java, in 2016
Beat Your Business Hardships With Smooth Netsuite Implementation
Intacct vs NetSuite: The Similarities
Below are the list of features or functions that are commonly found in both Intacct and NetSuite.
| Points of Similarities | Description |
|---|---|
| Years of Operations | Both of the solutions have been available for different businesses for around 20+ years. |
| Businesses Served | Both of the solutions have been catering to the needs of both small-scale and medium-scale businesses in general. |
| Industries Served | NetSuite and Sage, both help businesses from industries like
|
| Features and Functionalities Offered | Both of the tools allow different businesses to manage and control the accounts payables/receivables, general and specific ledgers, multiple currencies heads, assets, multiple subsidiaries, revenues, billing, forecasts, budgetary practices, stock, purchases and sales, projects, resources, payrolls, expenses, etc. |
| Tech Support | The parent organizations of both solutions offer active and reliable support services for their customers. |
| Cloud Integration | Both Sage Intacct and NetSuite have been developed using a cloud-based platform. |
| Mobility | Both platforms are mobile and easily accessible. You can download the specific apps of both platforms on your Android and iOS devices. |
| User Limitedness | Both platforms do not impose any user limit for any kind of business in any kind of industry. |
| Templates and Samples for Billing | You can use the templates from either of the platforms for billing and more. |
| Integration and Consolidation | Both platforms allow businesses to connect or integrate other third-party platforms and their data for consolidated and centralized access and control. |
| Tools for Particular Industries | Using either Intacct or NetSuite, you can easily get a personalized edition of the software that caters to the needs of specific industries. |
| Multilingual Interface | The interface of both platforms is highly multilingual. |
| Reconciliation of Bank Account | You can reconcile the bank accounts using either of the tools. |
| Automated Backups and Restoration | Both of the services allow you to back your data up on the cloud storage and restore the same if the need ever appears. |
| Miscellaneous Costs | If you want to integrate the data from other options to the cloud-based systems, then you need to pay extra in the case of both platforms. |
| Tenure | You can purchase the editions of both platforms charged and renewed at annual intervals. |
So, these were the main points that are similar in both of the cloud-based business solutions. Now let’s head over to the NetSuite and Intacct comparison for a much better and deeper insight on the duo.
Intacct vs NetSuite: The Differences
From the previous sections of this guide, some may assume that both NetSuite vs Sage Intacct are similar to one another and work the same as well. This assumption is partially true. There are many more features or functionalities that you may be unable to find on one than the other. So, let’s clear the air on the same by going through the differences between the duo provided below:
| Points of Difference | Oracle NetSuite | Intacct by Sage |
|---|---|---|
| Market Coverage | NetSuite covers a much wider section of the market with over 30,000 different active businesses as customers and users. | Intacct covers a much smaller section of the market with over 10,000 different active businesses as customers and users. |
| Difference of Industry | Apart from similar ones, NetSuite caters to the needs of industries like Manufacturing, Wholesale, Retail, e-Commerce, Media, etc. | Apart from similar ones, Intacct caters to the needs of industries like Healthcare, Hospitality, Franchises, etc. |
| Financial Control | NetSuite allows businesses to manage the aspects related to financing, planning, analysis, and control. | Intacct does not allow businesses to manage the aspects related to financing, planning, analysis, and control. |
| Supply Management Differences | With the help of NetSuite, you can control and manage different aspects of the business supply like warehousing, demand forecasting, production, procurement, etc. | With the help of Intacct, you can never control and manage different aspects of the business supply like warehousing, demand forecasting, production, procurement, etc. |
| Human Resource Management or HRM | NetSuite contains an HRM module that allows you to control various attributes related to HRM like payroll. | Intacct does not have any HRM module that allows you to control various attributes related to HRM like payroll. |
| e-Commerce Management | NetSuite is an expert in e-Commerce or retail management features PoS, sales management, marketing, etc. | Intacct is not built to cater to the needs of e-Commerce or retail management features functions PoS, sales management, marketing, etc. |
| Price | The base price of NetSuite starts at $999 a month. | The base price of Intacct starts at $425 a month. |
| Customer Support | You can connect with the customer support executive at NetSuite anytime you want as they offer 24/7 support. | You can only connect with the customer support executive at Intacct during working hours as they do not offer 24/7 support. |
| Multi-Business Management | NetSuite is an amazing and quite helpful solution that allows you to get centralized control over all the subsidiaries; international or national. This is much better than that offered by Intacct. | Intacct is not an amazing or helpful solution that allows you to get centralized control over all the subsidiaries; especially international ones. This is much weaker than that offered by NetSuite. |
| Scale of Management | NetSuite is a much broader tool than Intacct as it offers tons of additional features and functionalities. | Intacct is a much smaller tool than NetSuite as it does not offer many additional features and functionalities. |
| Scope of Training | NetSuite operators require extensive and hardcore training for NetSuite to be able to use the tool to the best. | Intacct operators do not require to undergo as extensive or hardcore training for the platform as NetSuite as it is much less complicated than NetSuite. |
| Difference of Services | NetSuite provides some extensive services that Intacct lacks such as CRM, Global Accounting, HRM, Payroll, Reporting, Quality Assurance, Work Order Management, Fulfillment, and Sales Force Automation, etc. | Intacct does not provide any of these services in any way. |
So, these were the main points of difference between Intacct vs NetSuite. Although the data provided in the above tables of differences and similarities were quite extensive and inclusive, you may also ask which one of the services should a business employ for better results. We will provide the perfect answer to this question in the next and final section of this guide.
Intacct vs NetSuite: Which One to Choose?
As you can understand from the previous data, both NetSuite vs Sage Intacct cater to the needs of similar industries. However, some industries may benefit more by using NetSuite over Intacct and vice-versa. You will find all these industries in the above-presented difference table.
The main attribute that provides an accurate answer to “What to choose, NetSuite and Intacct comparison?” is the requirement of the business. As you can understand, NetSuite is more than a standalone tool, but a suite that caters to the requirements of various aspects of the business, choosing this suite would be beneficial for the business that wants better management and automation under all these aspects. However, Intacct is a standalone software that works best to counter isolated requirements. Hence, if your business needs to ascertain control over the financial management tasks only, then Intacct is the best choice for you.
Although both Intacct vs NetSuite delivers their services to small and medium-level businesses, it would be quite beneficial for the business to make an informed decision after thorough research and assistance.
