When is NetSuite Right for Me?
As your business grows, your accounting software needs are likely to change. What used to work brilliantly on its own may now require using multiple apps. You must figure out how to use them, and then integrate them with your current accounting system. It can be difficult to decide whether you need to shift to a new system.
Many larger businesses that take the leap to a new accounting software decide to switch to NetSuite. NetSuite is an ERP that allows you to work in multiple modules in the cloud. It’s generally recommended for mid-size to large businesses with a minimum of 50 employees. If your company file is starting to get too large to run properly and you find yourself getting frustrated with the number of outside apps you need to connect with your current system, NetSuite might be the solution you are looking for.
Advantages of NetSuite
- -NetSuite handles all the hardware, software, upgrades, and security. You can easily log in from any regardless of electronic device.
- -NetSuite allows you to customize your software package to meet your needs. You can choose the specific products you would like to add such as CRM, HR, compliance, project management, warehouse management, and much more. While you can integrate some outside apps with NetSuite, you may find that they already have a solution to meet your needs.
- -NetSuite grows with you. In addition to customizations, you can expand your company across countries, languages, currencies, and subsidiaries without having to set up separate company files from scratch.
- -NetSuite encourages collaboration regardless of location and language. It allows you to assign tasks, use approval processes, and automate accounting steps.
Disadvantages of NetSuite
- -NetSuite does cost significantly more than its alternatives such as QuickBooks Enterprise and Microsoft Dynamics. The cost for implementation on its own can run into the tens of thousands of dollars. After that, they have a subscription model.
- -NetSuite does not have an easy way to answer questions through Google search engines or YouTube videos, as QuickBooks does. Usually, you will need to contact either NetSuite’s customer service or a firm like Squire to address issues.
- -NetSuite Pricing can be confusing depending on the number of add-ons, which is why they request you speak with them about a quote instead of listing the prices directly on their website.
If you are interested in learning more about NetSuite, please contact us. We have a NetSuite team ready to answer your questions and assist with implementation if you feel it is the right solution for you.