Enterprise Resource Planning (ERP) is a business utility software that comprises various integrated applications, with the aim to streamline key functions and automate various tasks. Some of the business functions managed by the ERP system include; accounting, business intelligence (BI), customer relationship management (CRM), Inventory Management (IM), and others.
Apart from streamlining business functions for higher efficiency and productivity, the ERP system also brings in actionable insights from the data. This enables business leaders to get real-time insights into various business functions and make well-informed business decisions.
In the world of ERP systems, NetSuite is arguably one of the powerful and widely used systems. The system brings in robust modules and critical functions to automate various business functions, as well as, deliver key insights from various processes
But, is NetSuite the right ERP for your business?
There isn’t one ERP system that fits all business sizes and shapes. Rather, various business factors including the size of the business, functions, industry, and others may influence the choice of the right ERP system.
But what are the alternatives of NetSuite?
Well, there are various ERP systems that give a tough challenge to NetSuite ERP with their functionalities and features. However, choosing the right one may be challenging for most businesses; especially if they don’t know much about the features and functionalities of individual ERP, and how each function may help their business.
Are you looking for NetSuite’s competitors?
In this blog, we have come up with some of the best NetSuite competitors that certainly gives a tough competition to NetSuite’s ERP for its functions and features.
Folio3 is Your Best Custom NetSuite Tech-Partner
As mentioned before, NetSuite implementation isn’t the easiest of the task to achieve and businesses may require a professional integration partner to help them out. Folio3 is a premium certified NetSuite Alliance Partner for implementation, customization, and integration of NetSuite ERP system.
The company comes with deep expertise of NetSuite and implementation of NetSuite modules, enabling clients to leverage the complete potential of the platform. Here’re some reasons why you may consider Folio3 as a trusted NetSuite tech partner for implementation, customization, and integration.
– Deep Expertise
Folio3 comes with nearly a decade of NetSuite integration and implementation expertise. Irrespective of business requirements, the company got the experience and expertise to deliver you reliable and robust NetSuite development experience.
– High-Quality Implementation
As a premium NetSuite development company, Folio3 brings in guaranteed quality for NetSuite implementation. With hundreds of successful implementation jobs, you can rely on the expertise of Folio3 to deliver a timely and hassle-free implementation experience.
– Cost-Effective
Compared to the cost of NetSuite’s professional services team, Folio3 offers its services at fraction of the cost. The company is offering one of the most affordable implementation models for businesses, thanks to its onshore-offshore delivery model.
NetSuite Competitors – The best NetSuite Alternatives for SMEs and Enterprises
Now that we are done introducing the NetSuite system, let’s look at some of the competitors of the platform to assist businesses to choose a better alternative.
4 NetSuite Alternatives and Competitors for Small Business and Startups
1. QUICKBOOKS
QuickBooks is a well-established financial management system that has proven its worth for enterprises and SMEs alike. The platform brings in wide-ranging features and modules that are ideally designed to improvise and enhance the financial management for businesses including sales, inventory, payroll, and others.
Best Fit for:
QuickBooks is ideally suited for startups and SMEs with limited budgets and global needs. Some of the businesses that can specifically leverage QuickBooks functions include; retailers, professional services firms, Non-profit organizations, wholesale businesses, and manufacturing businesses.
- NetSuite is comparatively a large platform which excessive functionalities. The system supports multi-subsidiary consolidation, multi-currency, and multi-languages. The platform also supports various business functions including; revenue recognition, multi-book accounting, financial planning, recurring billing, and others, which are not all supported by QuickBooks
- QuickBooks in essence is solely focused on streamlining the financial management (accounting) of the company, whereas, NetSuite is a complete business suite
- NetSuite may be deployed as web-based software, whereas, QuickBooks has to be installed on machines
2. Sage X3
Founded in 1981, Sage is yet another age-old and proved platform offering easy and interactive financial management solutions to businesses. The software is ideally suited for small businesses and startups, looking for an affordable and reliable solution for financial management. The company is based in Newcastle, UK, and has a worldwide presence in over 20 countries. The company primarily take acquisitions as its growth strategy.
Best Fit For:
SageX3 is recognized as high-utility financial management software for small and medium businesses. However, the platform is ideally suited for manufacturing businesses, which can greatly benefit from its batch processing, and receipt management capabilities. Besides, the software also offers make-to-stock functionality, inventory management, and other discretely valued functions for manufacturing functionality.
NetSuite Vs. SageX3
- NetSuite brings in a whole new level of automation, which isn’t matched by Sage
- SageX3 requires much higher manual intervention, as compared to NetSuite
- Sage is also less accurate compared to NetSuite; mainly due to its multiple ledgers, and multiple accounts charts
- Sage doesn’t offer high-level customization for users. Businesses looking for greater customization are required to utilize Amazon Web Services as hosting
- Aligning budgets with financials in Sage is often hard to achieve
3. FINANCIALFORCE
The financial force was developed by Unit 4 and Salesforce in 2009. The platform was marketed as an effective ERP product for its SFDC clients. Salesforce is a well-established global enterprise, based out of San Francisco, California, and ranks right at the top with some of the other tech enterprises
Best Fit For:
FinancialForce is ideally suited for professional services companies, offering a high-level of customization and specific functionalities for the industry.
NetSuite Vs. FinancialForce:
- While FinancialForce may be marketed as ERP, in essence, it doesn’t offer a complete ERP solution
- FinancialForce is only available in English, which restricts its use in non-English speaking countries, whereas, NetSuite is available in multi-languages
- FinancialForce offer limited reporting features, whereas, NetSuite brings in extensive and real-time reporting capabilities
4, Sage Intacct
Intacct was launched as an online alternative to on-premises financial management solutions. The platform was originally founded in 1999, however, it was acquired by Sage in 2017 for $850 million
Best Fit for:
Sage Intacct is ideally suited for SMEs looking for effective management of their financial functions. The platform has proven its worth for various industries including services, software, and non-profit organizations.
Sage Intacct Vs. NetSuite
- Sage Intacct cost less than NetSuite ERP, however, the platform’s capabilities are strictly limited to financial functions, thereby, limiting the value over time
- Since Intacct only deals with financial functions, it isn’t truly an ERP system, whereas, NetSuite is a complete ERP business suite
- Intacct is ideal for small and medium businesses and is not scalable to enterprise level
- NetSuite is a completely scalable platform, which primarily targets large enterprises and assists them scale on the go
- Intacct lacks interactive and in-depth reporting functionality, whereas, NetSuite comes with detailed and interactive reporting features
8 NetSuite Competitors and Alternatives for Enterprises
1) NAVISION (DYNAMICS NAV)
Navision or Dynamics NAV is a challenging NetSuite alternative. The platform was launched back in 1984, as a Danish Startup. However, it was quickly acquired by Microsoft in 2002 and is responsible for adding much functionality and features to the platform. Today, Dynamics NAV is one of the largest and widely implemented global ERP systems that offers powerful features and easy scalability to businesses.
Best Fit For:
Dynamics NAV is a highly flexible and resource-rich ERP suite that is equally suited for businesses of all sizes and shapes. The scalability of the platform makes it an ideal solution for SMEs, as well as, large enterprises looking to outgrow their existing size. Also, it is offered at competitive rates as compared to NetSuite, thereby, increasing the customer base for the platform.
NetSuite Vs. Navision
- The updating process for Dynamics NAV is a bit challenging and complex; especially for new users, whereas, NetSuite roll-out its updates automatically
- NetSuite is a true multi-tenant SaaS product, whereas, Dynamics NAV is not
- The implementation cost of NAV is a bit shady and vary greatly, whereas, NetSuite offers fixed bid pricing for its solutions
2. NetSuite Vs Dynamic GP
Dynamics GP (Great Plains) is the world’s first Windows-based accounting software. It’s ideally a mid-market accounting platform, which was launched back in the 1990s by Microsoft and ever since has been serving customers across the world.
Best Fit For:
Dynamics GP is mid-market accounting software that offers plenty of features and functionalities to serve the needs of various industries including; distribution, Discrete Manufacturing, consumer packaged goods, high-tech industries, and others.
NetSuite Vs. Dynamics GP
- NetSuite is a SaaS solution, whereas, Dynamics GP is an on-premises platform
- Because of a SaaS product, the price for NetSuite implementation is much more valued over time, as the company rolls-out automatic /easy to implement updates for the platform
- Dynamics GP offer businesses a certain level of flexibility to scale their business, however, it can’t be compared with the customization and scalability options offered by NetSuite
3. NETSUITE VS. MICROSOFT DYNAMICS (AX)
Dynamics AX by Microsoft is one of the tough NetSuite competitors that bring in resource-rich platforms for large enterprises. It was initially meant as a database and programming tool, however, was quickly evolve through various acquisitions to become a powerful ERP platform.
Best Fit For:
Microsoft Dynamics AX ERP is aimed at large enterprises looking to streamline various business workflow processes through automation. The platform is ideally suited for retail, distribution, manufacturing, public sector, and services sector.
NetSuite vs. AX
- While Dynamics AX is a highly competitive NetSuite alternative, however, it does lack in specific areas. For instance, the platform isn’t a multi-tenant architecture as NetSuite’s SaaS model
- In comparison to NetSuite, the deployment process of Dynamics AX is time-consuming
4. NETSUITE VS. MICROSOFT DYNAMICS (DYNAMICS 365)
Microsoft Dynamics remains one of the most widely implemented and legacy ERP solutions for over a decade. The platform brings in resource-rich and powerful modules including SL, AX, NAV, and GP, assisting businesses to streamline their workflow processes and leverage the power of business automation. The company initially tested offering hosted versions to customers, back in 2012, however, the effort wasn’t successful. This resulted in Microsoft revamping its entire ERP Suite to remain in the competition and the company eventually released its powerful Microsoft Dynamics 365.
Dynamics 365 is a revolutionary ERP platform and perhaps the best NetSuite competitor that redefines the way customers’ interact with ERP platforms. The platform offers an integrated/holistic approach for business management, supporting end-to-end processes. Microsoft’s Dynamics 365 give customers access to a whole suite of powerful business solutions including, PowerBI, Azure Intelligent Cloud, Cortana Intelligence, and Azure IoT platform; thus ensuring a holistic business solution.
Best Fit For:
Dynamics 365 as a NetSuite alternative is suited for businesses of all sizes and models. The platform brings exceptional scalability options for large enterprises, whereas, it also offers interactive and powerful analytics tools to help SMEs leverage the data and build upon the intelligence offered by the platform.
NetSuite vs. Dynamics 365
- Dynamics 365 may be too big and detailed for the liking of many small and medium businesses.
- The extensive reach and functionalities offered by Dynamics 365 makes it hard even for large enterprises to choose the right configuration, they need
- NetSuite offers various native integration add-ons for additional functionalities like Mobile, CRM, and Business Intelligence. However, separate technology stacks are required in Dynamics 365 to do the same
5. NETSUITE VS. ACUMATICA
Acumatica is a privately held platform that is designed to offer efficient business management solutions to SMEs and large enterprises. The pricing model of the platform depends on the transactional volume, and not per user, which makes it a unique platforms among the rest. As a NetSuite competitor, Acumatica is offered as a SaaS solution, as well as, on-premises solution to meet the unique needs of businesses.
Best Fit For:
Acumatica is equally suited for large enterprises, as well as, SMBs looking for some deeper functionalities, greater flexibility, and a higher level of customization options with decision support systems.
NetSuite vs. Acumatica
- As a NetSuite competitor, Acumatica offers limited functionalities. The platform does offer a little bit of everything, however, the functions offered doesn’t carry much depth
- The CRM offered by Acumatica is more like a contact management system and doesn’t stand for much value in comparison to NetSuite’s CRM capabilities
6. NETSUITE VS. SAP BUSINESS BYDESIGN (BYD)
BYD from SAP was launched in 2007 and was the company’s first organic cloud ERP. The platform was pulled back shortly after its launch, only to be relaunched in 2008, again. The platform today is aimed towards enterprises and mid-market businesses working in Manufacturing, wholesale distribution, or professional services industry.
Best Fit For:
BYD is best suited for existing SAP clientele who are looking for an integrated solution that brings more agility and affordability as compared to ECC or S/4HANA. The platform brings in powerful tools and functions for the manufacturing, wholesale distribution, and professional services industry.
NetSuite vs. BYD
- As a NetSuite alternative, BYD offers some great functionalities for financial consolidation, budgeting, revenue recognition, CRM, landed costs, and sub-contracting
- It doesn’t support IFRS15 or ASC606
- The platform lacks RF capabilities
7. NETSUITE VS. SAP BUSINESS ONE
SAP Business One is a top NetSuite competitor that was launched back in 1996 in Israel. The platform was initially launched under the name “TopManage”, however, it was acquired by SAP in 2002 and rebranded as SAP Business One.
The platform brings in some key functions and features to attract enterprise and mid-market level businesses. It’s a client-server model software that is Windows-based and connects to a back-end server. The platform is also available for Android, and iOS devices.
Best Fit For:
As a NetSuite Alternative, SAP Business One brings in the powerful features and functions required for effective business management. The platform is ideal for enterprise and mid-market businesses, bringing it into direct competition with NetSuite.
NetSuite vs. SAP Business One:
- SAP Business One doesn’t offer native support for multi-company
- As opposed to NetSuite, SAP B1 isn’t a multi-tenant architecture, whereby, users are required to have a remote access client
8. NETSUITE VS. EPICOR 10
EPICOR 10 is an Austin, Texas-based platform that was initially launched back in 1972. Today, it’s a well-established company with over 20,000 customers and 15+ products offering. While the platform is present in more than 150 countries via partners, the core customer base for the platform is situated in North-America. The platform is marketed for its effective functionalities for complex manufacturing, and wholesale distribution businesses.
Best Fit For:
Complex manufacturing businesses are natural clients for Epicor 10, which brings in the rich functions (cloud, as well as, on-premises) to streamline workflow processes. The platform is also ideally suited for businesses looking for cloud-migration.
Epicor 10 is also well-suite for companies needing assistance with discrete manufacturing, warehouse management, batch support, and other functionalities.
NetSuite vs. Epicor 10:
- NetSuite is a completely integrated single product platform with a single code set. Epicor 10 has 15+ products that are developed with different development codes
- Unlike NetSuite, Epicor 10 lacks the capacity to offer partner ecosphere
Conclusion
Well, now you know the best NetSuite competitors and alternatives. Now, it’s up to you to choose the best platform that meets your unique business needs. The catch in choosing the right ERP platform lies with your ability to identify your needs and compare offerings from different platforms. As discussed in detail above, there are various NetSuite alternatives, however, not all offer the same functionalities or features. in the end, it would depend on your preferences, needs, and budget to choose a software that brings in full-value of your investment
