netsuite vs other erps

NetSuite Vs Other ERPs – Comparison and Information

ERP options have increased as more businesses see the benefits of these systems. Now, there are more choices than ever before, so you no longer have to choose from a limited pool of options.

However, this has made choosing the right ERP partner a challenge. Today, determining which ERP is best for a business is so complicated that professional assistance is usually required.

The majority of ERP systems do similar things, but they do so in different ways. Furthermore, using an ERP system that does not align with the business’s goals can lead to decreased productivity. Therefore, being able to choose the right ERP system is crucial.

NetSuite has long been a leader in the ERP space, but the days when it was unchallenged are long gone. Alternatives are now available, but how do those alternatives stack up against one of the biggest names in the ERP sphere?

Learn how NetSuite became an industry leader, and compare it to other existing ERP solutions in this article.

What Makes NetSuite a Major Player?

NetSuite’s presence in the ERP space can be explained by looking at its past. NetSuite’s journey began in 1998. 

During that time, software-based business management tools were available, but there were no cloud-based tools for businesses. Businesses had to install their own servers in order to use such services. 

But then NetSuite changed all that. 

Initially, it offered web-based applications to businesses under the name NetLedger. It redefined the business landscape with this unique aspect. 

NetSuite wasn’t content just to be the first cloud-based ERP provider. In addition to improving its services, it added scalability so businesses of all sizes could benefit from its services. 

That still holds true today. NetSuite is used by many businesses, including small businesses with fewer than 100 employees. 

NetSuite Vs Other ERPs

As NetSuite has grown in popularity over the years, alternatives have emerged to compete in the ERP space. To know which solution fits your business best, you have to examine their features, design goals, and background. ERPs shouldn’t be compared based on popularity alone. A lot depends on their design and features.

NetSuite vs Other ERPs – Background and Design

In terms of how it approaches the ERP market, each platform has its own focus. Here are the differences between NetSuite and other ERPs based on their design focus:

NetSuite

NetSuite was designed to be a cloud-based solution. This shows in the advancements it has made in the ERP space. In addition, NetSuite was also designed to be highly modular. 

This solution can be customized to fit the needs of almost any business in any industry. When compared to other ERP solutions, this is one of its bigger strengths. NetSuite is great for big companies and other companies that work on a global scale. If you need a lot of customization, it’s the right choice.

However, it isn’t perfect, as smaller companies might struggle to justify the cost of the system. Additionally, it is complicated to learn, so new users have difficulty grasping it easily.

Microsoft Dynamics

Microsoft Dynamics was originally created from three smaller companies that offered CRM/ERP systems. Microsoft acquired these companies and then in 2006 released what is known as Microsoft Dynamics.

This ERP solution is a great option for companies that are already integrated into the Microsoft ecosystem. The ERP software works perfectly with the other productivity apps that Microsoft is famous for. 

Despite being a great option for Microsoft software fans, it can be quite expensive. As an example, the cost per user can be high while the base storage size is small. This means you’ll have to spend extra for upgrades to storage capacity.

Sage Intacct

Sage Intacct was formed in 2017 when Sage acquired Intacct. The current product is part of Sage Business Cloud and leans heavily into its financial roots as one of the best options for managing accounting and financial firms. One of its most attractive features is the mobile app, which is fully functional and can be used in an academic setting. However Sage Intacct, like NetSuite, has a long learning curve, which is made worse because of the less intuitive software, which in turn makes automation more difficult. 

Epicor

Epicor ERP is a modular system that offers business management solutions to companies. Epicor started out as a manufacturing-related business management tool in 1984, but has grown into one of the world’s biggest ERP players. Epicor offers a user-friendly interface that makes learning easy. In terms of financial management, the software is robust and will automate most processes. Small businesses, however, face implementation difficulties and high costs per user. Free trials are also unavailable. 

NetSuite Vs Other ERPs – Features

These solutions differ not only in their design and direction, but also in the features that they offer. The following table summarizes these differences:

FeaturesNetSuiteMicrosoft DynamicsSage IntacctEpicor
BillingYesYesYesYes
Business AnalyticsYesYesYesYes
CRMYesNoNoYes
Customer ServiceYesNoNoYes
Product DesignNoNoNoYes
Financial AccountingYesYesYesYes
HRYesYesNoYes
Inventory ManagementYesYesYesYes
SalesYesYesNoYes
Warehouse ManagementYesYesNoNo

How To Choose the Right ERP System

Comparing the various ERP systems makes it clear that an ERP solution that works well for one company may not work effectively for another. Take the following factors into consideration when deciding which is best for your business:

  1. User Experience: How the software handles has to be one of your first considerations, as a software that is intuitive will make everything else run smoothly.
  2. Implementation: Compare the ERP’s method of implementation with the company’s goals and budget. 
  3. Cost: If the rate per user will take too much out of the company’s purse then it isn’t a good fit. 
  4. Focus: The ERP needs to help the company achieve its goals and not be a distraction.

Final Thoughts

ERPs must be compared constantly in order to be sure you are using the right tool for the job. In the past, NetSuite was the top ERP, but with the emergence of alternatives, NetSuite isn’t the only option in every situation. 

Dynamics GP, Sage Intacct, and Epicor are a few of the major contenders in the ERP space. Despite not offering everything NetSuite has, they excel at a few other things. 

Lastly, the decision to implement ERP should be made with the assistance of a professional, as there is no one-size-fits-all solution due to the large number of options available.

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