NetSuite Financials Review

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Last updated: Jul 23, 2020

NetSuite Financials Review

ITQlick rating
(4.2/5)

Starting from $499 per user/month

NetSuite Financials is a cloud-based accounting and eCommerce software suite designed to comply with all business sizes. It aims to streamline your accounting department through the use of a web based applicati...

  • Categories (4/25):

    • Billing & Invoicing
    • Budgeting & CPM
    • Business tax
    • Core Accounting

Shlomi Lavi / updated: Jul 23, 2020

What is NetSuite Financials Used For?

NetSuite Financials is a cloud-based accounting and eCommerce software suite designed to comply with all business sizes. It aims to streamline your accounting department through the use of a web based application and dashboard.

NetSuite Company was founded in 1998 and is handled by 1,600 employees. It is headed by Evan Goldberg who functions as the chairman and chief technology officer.

Average Rating -

The rating of NetSuite Financials is 4.2 stars out of 5. The rating is based on ITQlick expert review.

Typical Customers

Netsuite Financials is ideal for businesses of all sizes and has catered to the needs of hundreds of companies. It uses modular cloud integration that allows you to keep real time contact with your finance and accounting department.

Multiple companies have successfully implemented Netsuite Financials in their business process: Upper Playground used its extensive customization options to tailor their own specific accounting program. Gradwell found that their financial audits have been cut in half, which improved their account tracking and management.

Features

NetSuite Financials aims to streamline accounting department activities in your organization by supplying a comprehensive package of tools which deal with your budgetary decisions; It supports with multi-currency transactions, invoicing, payment, and finances tracking in terms of production and budgeting.

NetSuite Financials 5 Pros

  • The comprehensive interactions between you and your finances allow an in-depth enhanced business plan
  • Exporting data and reports is very user-friendly, and support across multiple platforms facilitates auditing
  • Optional features can help you expand control past your accounting and into the rest of the departments of your business
  • The eBusiness aspect allows to obtain an overall of view your product line for understanding how well it sells
  • The smooth and very intuitive dashboard makes implementation a breeze

NetSuite Financials 2 Cons

  • The financial reporting feature may need a little more work and detail so that it can provide insights for each of your transactions
  • NetSuite Financials is only accessible through the web, therefore requiring a permannet Internet connection

Competitors & Alternatives

The competitors for Netsuite Financials include Epicor Financials & SAP Financials.

Epicor Financials includes the core accounting features of general ledger, receivables & payables, cash management & reconciliation, credit & collections as well as allocations & financial consolidation. Additionally there are budgeting, forecasting & planning tools with tax compliance strategies as well. There are strong governance & audit standards included and the product supports multi-company as well as global financial requirements. Epicor Financials is also available as both a cloud as well as on premise solution.

Netsuite Financials in comparison provides a similar financial management solution that supports both order to cash and procure to pay business processes. Additionally the product can handle automatic revenue recognition, project accounting, and fixed assets management which includes procurement, depreciation & disposal costs. Netsuite Financials also has comprehensive business analytics tools that support dashboards & KPIs to support financial reporting requirements.

SAP Financials on the other hand includes features for risk & compliance management, together with financial planning & analysis and treasury management. The product also supports financial shared services to improve administrative productivity, as well as a real estate lifecycle module to ensure management & valuation of corporate land & properties. SAP Financials is also accessible via mobile devices and can be deployed as a cloud or on premise solution.

Netsuite Financials though is available as a cloud based solution that is also mobile device access ready. It also allows electronic & online payments, as well as payment processing options for recurring & installment billings together with an effective fraud prevention & authentication system.

NetSuite Financials Pricing Information

The cost of license starting from $499 per user/month. The experts at ITQlick has reviewed NetSuite Financials pricing and gave the software a total cost of ownership (TCO) rating of 3.2 out of 10. Custom price cost for your business is available upon request.

Questions to ask the vendor during a demo

Schedule a demo and access 25 must ask questions for the vendor while watching NetSuite Financials in action

NetSuite Financials Categories

Billing & Invoicing
Budgeting & CPM
Business tax
Core Accounting
Financial reporting
Financial consolidation
Fixed Asset Accounting
HR Accounting
Inventory Management Accounting
Payroll Accounting
Project Accounting
Accounting Practice Management

Specifications

Company:
Address: NetSuite Inc, Campus Drive, San Mateo, CA
Customers: Small business, Medium business, Large business
Business Area: Cross Business Areas
Platforms: Desktop, Cloud
Operating Systems: Mac OS, Windows, Linux

NetSuite Financials Features

Accounts Payable
Audit Trail
Billing & Invoicing
Budgeting & Forecasting
Cash Flow
Depreciation
Fixed-Assets
Multi-Currency
Project-Accounting
Sales Reporting
Tax compliance
Time & Expense
Billing Rate Management
Corporate Card Payments
Multiple Billing Rates

NetSuite Financials Vs. Alternatives

ITQlick rating ITQlick Rating is based on the software score (below) and aggregated online reviews
ITQlick score ITQlick Score is a 1 to 100 score, based on pricing, and functionality Vs. alternative solutions
Pricing score pricing Score is a 1 to 10 score, based on the TCO (cost of licences, customizations, training, hardware when relevant) Vs. alternative solutions
License pricing license pricing (if provided by the software vendor)
Hosting
Functionality score
Fit small business
Fit medium business
Fit large business
Software review
Compare
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ITQlick rating ITQlick Rating is based on the software score (below) and aggregated online reviews
ITQlick Score
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Pricing score Pricing score ranges between 1 to 10 while 1 is low TCO and 10 is high TCO (TCO - total cost of ownership: cost of licences, customizations, training, hardware when relevant) Vs. alternative solutions
3.2/10
License pricing license pricing (if provided by the software vendor)
$499 per user/month
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2.6/10
License pricing license pricing (if provided by the software vendor)
$99 per month
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16
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ITQlick rating ITQlick Rating is based on the software score (below) and aggregated online reviews
ITQlick Score
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Pricing score Pricing score ranges between 1 to 10 while 1 is low TCO and 10 is high TCO (TCO - total cost of ownership: cost of licences, customizations, training, hardware when relevant) Vs. alternative solutions
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License pricing license pricing (if provided by the software vendor)
$99 per license
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5
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ITQlick rating ITQlick Rating is based on the software score (below) and aggregated online reviews
ITQlick Score
92/100
Pricing score Pricing score ranges between 1 to 10 while 1 is low TCO and 10 is high TCO (TCO - total cost of ownership: cost of licences, customizations, training, hardware when relevant) Vs. alternative solutions
6/10
License pricing license pricing (if provided by the software vendor)
$12.50 per user/month
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3
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ITQlick rating ITQlick Rating is based on the software score (below) and aggregated online reviews
ITQlick Score
92/100
Pricing score Pricing score ranges between 1 to 10 while 1 is low TCO and 10 is high TCO (TCO - total cost of ownership: cost of licences, customizations, training, hardware when relevant) Vs. alternative solutions
5.2/10
License pricing license pricing (if provided by the software vendor)
Pricing not available
Hosting
Cloud
Functionality score
4
Fit small business
Fit medium business
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