Let’s have a look at this extensive guide explaining the similarities and differences between Odoo and NetSuite. Go through the entire data set below and choose the better one for your business with ease.
Business management suites or software are one of the most preferred choices of any small-scale or medium-scale business. With the help of such solutions and tools, you can easily manage different aspects related to your business and its operations. You may need a business management tool for Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), Human Resource Management (HRM), warehousing, inventory management, billing, e-Commerce management, purchase management, and others.
To tackle all these tasks for your business, multiple solutions are available online, two of which are Odoo and NetSuite.
What is Odoo?
Odoo is an amazing and quite widely used open-source business management suite. The ERP tool offers a lot of functionalities to the users and allows them to control all the aspects related to CRM, ERP, HRM, and much more for different businesses. The interface of the solution is quite interactive and easy to use for beginners and professionals. Odoo can cater to the requirements of both small and medium businesses quite well and has been a viable competition for other similar tools as well.
What is NetSuite?
Just like Odoo, NetSuite is also a well-established and widely-sought ERP solution. With the help of this suite of software and tools, you can take care of the requirements related to the business like CRM, HRM, inventory, warehouse, billing, invoicing, payroll management, accounting, and others. The standalone tool is quite effective in device management as well. With the help of this cloud-based ERP solution, tons of businesses have been able to manage and control their business attributes while being on the move.
As both Odoo and NetSuite tackle similar challenges and offer similar features in a common domain, the major question that appears repeatedly is what is the difference between the two tools. This is something that we will discuss and straighten out with the help of this simple guide.
Odoo vs NetSuite: The Similarities
To understand how the two ERP tools are different from one another, first, you should understand the similarities between the two. The below table represents the similarities between the two tools on various fonts and requirements.
|Order Quoting||With the help of either tool, you can use the option to quote the order as per your requirements.|
|Online Payment Support and Management||Both of the tools support online payment through various gateways and portals with ease.|
|Purchase Management||With the help of the tools, any business can manage the purchase version of the tools with ease.|
|PoS||Both Odoo and NetSuite allow POS or point of sale management and recording features.|
|Module||Both tools work with the help of different tools that come in the form of modules for your use.|
|e-Commerce Management||Both of the tools allow you to manage different e-Commerce profiles of your business with ease.|
|Lead Management||NetSuite and Odoo, both have outstanding features to manage the leads as well as utilize them for the greater benefit of your business.|
|Cloud-Based ERP||Both tools are cloud-based and can store your business-related information online.|
|Customer Support Services||The customer support services provided by the two tools are quite similar to each other.|
|Mail Integration||Using either of the two tools, you can get real-time updates in your inbox via integrating the email.|
|Client History||Both Odoo and NetSuite record the entire history of your clients or customers and allow you to access the same anywhere necessary.|
|Templates||The two tools contain different kinds of templates for emailing and other important tasks.|
|Accounting and Reporting||Both tools offer advanced accounting & reporting features to the business for feasibility and effective management.|
|Budgeting||Both NetSuite and Odoo support and offer budgeting features and functionalities.|
|Valuation of Stock||You can use the smart features of either of the tools to ascertain the value of the stock accurately.|
|Expense Management||The expense management features of the duo are quite inclusive and advanced.|
|Multiple Companies and Currencies Management||You can use any of the ERP tools for Multiple Companies and Currencies Management.|
|Marketing Management||The marketing management features of the tools are quite well-endowed and inclusive.|
Odoo Vs NetSuite: The Differences
Take the help of the below table to know on which grounds the two tools differ. All the differences provided and explained below will help you ascertain which one of the two tools is the perfect match to take care of the different requirements of your business.
|Points of Difference||Odoo||NetSuite|
|Open-Source Structure||Odoo has been developed using an open-source structure.||NetSuite does not have an open-source structure.|
|Flexibility||The open-structure base of Odoo makes it quite flexible and customizable.||As NetSuite does not have an open-source base, it is more rigid.|
|Module Deployment||The module deployment procedure and characteristics of Odoo are more flexible and customizable.||The module deployment procedure and characteristics of NetSuite are more rigid.|
|Pricing||Odoo provides more features at fewer prices.||NetSuite provides fewer features at more prices.|
|Complexity of Use||Odoo is more complex to use as you need to integrate various tools or modules to make the most out of the platform.||NetSuite is less complex to use and quite straightforward.|
|Electronic Signature Management||Odoo offers smart features for Electronic Signature Management.||NetSuite offers no features for Electronic Signature Management.|
|Quote Templates||With Odoo, you get a variety of quote templates for better control and ease.||With NetSuite, you get no quote templates.|
|eBay Integration||Odoo offers services to integrate eBay into the platform.||NetSuite offers no services to integrate eBay into the platform.|
|Voice over Internet Protocol (VoIP)||Odoo uses Voice over Internet Protocol (VoIP).||NetSuite does not use Voice over Internet Protocol (VoIP).|
|Live Chatting Features||When Odoo and NetSuite are compared, Odoo has more live chatting features.||NetSuite does not have any live chatting features for businesses.|
|Real-Time Alerts||Odoo offers real-time alerts related to various accounting aspects of the business.||NetSuite does not offer real-time alerts related to any accounting aspects of the business.|
|Speed of Reconciliation||The speed of reconciliation is quite faster with Odoo.||The speed of reconciliation is quite slower with NetSuite.|
|Multiple Invoicing||You can send various invoices to different distributors using Odoo with ease.||You cannot send various invoices to different distributors using NetSuite.|
|Survey Creation||You can create smart and futuristic surveys using Odoo.||You cannot create any surveys using NetSuite.|
|Overall Equipment Effectiveness (OEE)||You will gain extensive Overall Equipment Effectiveness (OEE) with Odoo.||You will not gain any Overall Equipment Effectiveness (OEE) with Odoo.|
|Purchase Tender Management and Control||Odoo offers multiple Purchase Tender management and control features to your business.||NetSuite does not offer any Purchase Tender Management and control features to your business.|
|Salary Configuration Tool||With Odoo, you can avail the benefits of a Salary Configuration Tool.||With NetSuite, you will not get the benefits of a Salary Configuration Tool.|
Summing Up: The Differences Between NetSuite and Odoo
So, we hope that with the help of the information provided in the above sections of this article, you got the required information related to the differences as well as the similarities between Odoo and NetSuite as the two of the most commonly used and sought ERP tools of all time.
From the above table, it can be concluded that although Odoo offers more features than NetSuite in comparison, the latter is more advanced and thorough in its services. With the help of effective NetSuite training and assistance, you can get the most out of the online solution with ease, provided that the training is quite extensive and thorough as well as inclusive.