NetSuite Review 2023: Features, Benefits, Drawbacks, Pricing, and More

Effective Ecommerce Accounting for Financial Success with NetSuite

Feb 24, 2023

Here is an extensive review of NetSuite for you in 2023. You will find everything from features, pros and cons, pricing, and other information related to the tool in this NetSuite review. 

You must have either seen people, especially businesses, using NetSuite on their systems or heard about the platform in the corporate world. This online cloud-based platform has been offering services to thousands of businesses and is trusted by over millions of professionals. However, a question that may arise is whether the popularity of the tool justifies its relevance. This is what we will find out with the help of the tool. 

With this NetSuite review, you will know everything there is to know about the ERP tool. From its basic definition of usage, from features to pros and cons and beyond. We will have a look at all the attributes associated with the platform and judge on the basis of this data, whether the platform is worthy of all the praise and popularity that’s raining.

So, let’s start this NetSuite ERP review right away with the basics. 

What is NetSuite? 

NetSuite is an ERP or enterprise resource planning tool. This tool allows the organizations to manage the resources associated with the business. The tool is cloud-based and offers multiple options and functionalities to the business to manage and run the business more efficiently and effectively. 

The sole purpose of the platform is to bring different attributes of the business together and provide detailed or compiled information about the same as and when required. Additionally, the data offered by the tool is also used by businesses to check real-time performance as well as that of any specific period. The data can then be utilized by them to make further decisions based on trends of the past and the withholdings of the future. 

From CRM to automation, from data presentation to warehouse management, and many more, NetSuite can take care of all the requirements of the business from a single space. 

Features of NetSuite ERP 

Let’s take this NetSuite review further and have a look at the best and topmost features of the computing platform. These features will allow you to understand how NetSuite works and why businesses can use the solution for feasible business management. 

1. Multilingual Interface 

NetSuite, as a cloud ERP solution, has been used globally by thousands of businesses. This is one of the main reasons why the developers of the tool have offered multilingual support for the interface. This means that you can change the interface language of the software quite easily. Some of the languages supported by the tool are Dutch, German, Japanese, Portuguese, etc. apart from English. This makes it easy for native users to get the best out of NetSuite. 

2. Data Inclusive Dashboard 

Here’s one of the best parts that you will find helpful in this NetSuite review. The dashboard or the homepage of the software is quite thorough. Also, The dashboard alone provides so much information related to the business and its operations that the user does not have to roam around looking for specific data. The dashboard shows the recent changes or modifications made to the business or its activities. Hence, any business owner or manager can easily keep an eye on the flow of operations with ease. 

3. Customer Relationship Management (CRM)  

When a business grows, the number of buyers also increases. The buyers of the consumers for any business are the sole reason behind its ever-achieving growth. The tool offers a complete oversight and review of the customers to you. From the personal information of the customers to sales orders, recent and older purchases, and much more. What’s great to mention in the NetSuite CRM review is that the tool offers all this information in a single place or category. The user can even find the shipping status of the order under the same category. NetSuite takes up all the functions of a CRM tool and offers the same to you. 

4. Sales Management 

Another thing that NetSuite takes care of is sales management. The tool is quite smart for its age. It gathers all the information related to your sales history and predicts the future requirements for a specific period. This way, any business can easily figure out what to get, how to get it, when to get it, and every other related query with ease. From available raw materials, to work-in-progress, order-in-transit, delivered products, and more. The tool can provide a centralized system for businesses to manage all these with ease. 

5. Payroll Management 

The next feature in this NetSuite review is payroll management. If NetSuite is by your side, you don’t need to invest your funds in any other payroll software as the tool alone can take care of the payroll requirements for your business. The tool automatically records all the details related to the employees in the organization. NetSuite will show you the work hours of the employee, the unpaid salary, and more. 

6. Campaign Management 

Another feature that’s not so easy to find in other ERP tools or platforms is campaign management. NetSuite allows the users to manage the existing campaigns run by the organizations. For the same, the platform offers real-time and well-devised information. This information is not a mere prediction but well-researched and compared data that can be helpful for the growth of the business if followed accurately. 

7. Integration Opportunities 

Before using or taking up NetSuite, your business must be using some kind of other third-party solution for easier business management. This can be a CRM tool, payroll software, ERP solution, sales tool, e-Commerce management tool, etc. NetSuite allows you to integrate all these tools with the software and then collect the data. This feature is quite helpful as it allows you to gather information from other ones and present the same on a single tool. The business can then use this information as and when required for the growth and prosperity of the business. This integration of data may take some time, depending upon the size of the business and the tenure but it becomes worth the effort in the end. 

8. eCommerce Management 

Unlike various other similar solutions and software, NetSuite is quite smart and offers eCommerce Management options as well. The sub-tool of NetSuite named SuiteCommerce allows you to present B2B and B2C services accurately. 

9. Inclusive and Helpful Reporting 

Any business may require brief and comprehensive reports related to the operations of the business. If you are seeking the same, NetSuite is the best alternative. The platform offers smart and all-inclusive reporting features to you. Rather than going through the entire data present on the platform, you can direct the tool to filter the required data and create a report for the same. This report can be used to entice investors, motivate the employees, or do any other beneficial task. 

10. Warehouse Management 

A warehouse should always be stocked accurately and perfectly. If the quantity of stock in the warehouse is accurate, it increases the chances of success and growth of the business. This is why NetSuite offers you the feature to manage the requirements and conditions of the warehouse. The tool will inform the respective department if there is a shortage in the warehouse or if the present stock will wear off or sell soon. You can set the period for the alert on the software and then use the same to make accurate and growth-centric decisions. 

11. Customizable 

One of the lesser-known features of the software brought to light in this NetSuite review is that the tool is entirely customizable. You can add or remove as many options or attributes from the tool as required. For example, all businesses may not need a payroll solution to manage their employees. If this is the case, you can skip the Payroll or HR option while buying the subscription to the tool and proceed accordingly. The same holds for integrations. You can integrate as many and the required platforms to NetSuite for some of the tools, you may also get the respective connectors for ease. 

12. Safe and Secure 

One of the best and most notable features of the ERP tool in this NetSuite ERP review is that it is quite safe and secure to use. The data recorded by the tool is unbreachable. Only the parties that have actual access to the information can go through the same. Otherwise, the tool withholds other meddlers and keeps your business information safe at all times. 

13. Finance and Accounts Management 

NetSuite offers some of the most helpful and business-oriented finance solutions to you. From features developed for controlling the costs associated with the business to the financial projections and budgeting, NetSuite can allow you to do every single thing with ease using the smart build alone. The software also allows you to manage all the accounts and ledgers related to the business. 

14. Automation 

Some tasks related to the business can be regular and repetitive. Thankfully, NetSuite allows you to automate such tasks and gather the data related to the same. If any discrepancy is found, the tool also provides notifications and email alerts to the business. You can then act on the same accordingly before things go bad. 

15. Reliability 

Another added benefit, that’s mentioned in this NetSuite review, is that the tool is very reliable. You can trust the tool as it follows all the compliances, legal or otherwise, for recording, managing, and presenting the data. 

These are not even all the features offered by the solution. However, to take this NetSuite review further, let’s have a look at the pros and cons of NetSuite. 

 

NetSuite: The Top Solution That Resulted In The Growth Of Over 30000 Businesses

Find Out Why NetSuite Is The Best When It Comes To Business Management And Control From Our Leading Experts.

meeting

Pros and Cons of NetSuite

Below are some of the pros and cons of NetSuite gathered and brought together from over a thousand different reviews of NetSuite. These will provide further insight into whether you should use the tool in your business or not.

Pros of NetSuite: NetSuite Review Edition 

  • Customizable platform 
  • Allows you to specify the period to gather data 
  • Offers analytics and user-friendly options 
  • Advanced CRM options 
  • Effective support for budgeting and forecasting 
  • Comprehensive reports
  • Graphical representation of data
  • Customizable at a great scale 
  • Real-time information 
  • Suitable for all businesses
  • Easy and reliable invoicing
  • Active customer support 

Cons of NetSuite: NetSuite Review Edition 

  • Fluctuating prices 
  • Limited support capabilities 
  • Confusing for intermediates and beginners 
  • Requires training to use 
  • High pricing 
  • Every addition costs 

So, these were the main pros and cons of the software representing the NetSuite software reviews more accurately. However, for precision, let’s have a look at the NetSuite pricing. 

Pricing of NetSuite

NetSuite review is complete with NetSuite pricing. The price of NetSuite is not easy to assess. Different factors, add-ons, and integrations represent the overall cost of the platform. For some businesses, the tool may be available for even lower than $25,000 while others may need to pay even higher than $100,000 to get the software. To determine the cost or pricing of NetSuite, you need to take care of certain factors like the size of the business, the cost of migrating the data, training (if necessary), module requirements, connector requirements, etc. 

Apart from this, there are certain hidden or unforeseeable prices as well. You also need to maintain the tool properly so you will also need to spend some resources on that as well. 

NetSuite Review: Closing Words

So, here we are concluding the above sections, comprising the complete reviews of NetSuite. By now, you must have understood that the platform, when and if used properly and accurately, can help you and your business in great ways. The platform alone has been the reason behind the growth of multiple businesses and is being opted for by new ones readily. 

However, your investment in this cloud-based ERP and CRM solution would be worthless if you don’t move smartly and cautiously. The tool is so varied and the modules so diverse that every business, whether small or big, can easily get confused about what to get and what not to get. It’s never easy for a business to ascertain the same without the help of some professionals. There are a plethora of NetSuite Bookkeeping Services providers out there who can help you with everything. They can show a clear image of the tool and provide a user-centric NetSuite review. These experts, after assessing the business and its operations, can advise you better about whether you should go for the tool or whether simple accounting would be enough to suffice. 

As long as you move cleverly and decide aptly, you can get the most out of the software  and control your business with ease. 

Gary Jain

POSTED BY Gary Jain

Hi, I am Gary Jain & I help business owners in taking control of their business finances by being a one-stop solution for all their accounting, taxation & CFO advisory needs.

Being an entrepreneur myself, having built and scaled businesses in a variety of domains, has helped me think from the perspective of the business owners and thus bringing in the clarity of the practical problems and their equally practical solutions.

Being from a humble background, I have always valued the importance of conserving resources & I dont like overspending businesses. I advise and work towards tightening the cash outflow tap and making business owners take a very different approach to managing their finances.

Schedule a FreeConsultation

OurServices

Accounting and Bookkeeping Services

Essential for businesses of all sizes to maintain accurate financial records, track expenses, and ensure compliance with tax laws. These services include tasks such as record-keeping, invoicing, payroll management, financial analysis, and tax preparation.

Online Controller Services

A controller sees strategic goals through to completion. Tracks the company’s overall budget. Ensures you’re hitting your budget and margins. While not ideal, it’s worth noting that if needed, a controller can also do an accountant’s job, such as close the books.

Virtual CFO Services

CFO focuses on making your organization more valuable to shareholders and increasing the return on your business. They do this by forecasting cash flow, optimizing cost centers, managing corporate capital accounts, and introducing high-value processes.

NetSuite Accounting And Bookkeeping Services

We specialize in various integrations with NetSuite & resolving those issues. Connecting with Netsuite Customer support is a tedious task and does not necessarily always bring results. We guarantee the results at a much lower rate than what NetSuite premium customer support will charge you.

Related Posts

Still, have Questions?

We love to connect. Contact us anytime!

Call us now

+1 888-333-0992

Schedule a Meeting

Click to Schedule

Email Us!



    Master E-commerce!
    To where should we reach out?