NetSuite OneWorld Review - why 3.8 stars?

NetSuite OneWorld Review
ITQlick Score: 93/100
ITQlick Rating:
(3.8/5)
Pricing: 4.6/10 - average cost
Category: ERP -> NetSuite OneWorld review
Ranking:Ranked 3 out of 271 ERP systems
Company: NetSuite
Pricing: starts at $999 per month
Typical customers: Small, medium and large size businesses
Platforms: Desktop, Cloud
Links: NetSuite OneWorld pricing, NetSuite OneWorld alternatives
Shlomi LaviShlomi Lavi / updated: Mar 09, 2022

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What is NetSuite OneWorld?

NetSuite OneWorld is a business management and ERP software solution that helps global businesses and organizations streamline operations across multiple subsidiaries, and provides visibility in real-time at all levels of administration. The software is equipped with several features, some of which are discussed below:
  • Global Accounting and Consolidation: With the multi book accounting feature on NetSuite OneWorld, global organizations can process accounting demands at all levels— local, regional, and headquarters.
  • Electronic Payments: NetSuite OneWorld helps businesses pay vendor bills, cover employee expenses, and receive payments directly from customers. Businesses can also save time and paperwork through automated payment processing on NetSuite One World.
  • Multicurrency Management: NetSuite OneWorld supports currencies globally, over 190 at last count, enabling international businesses accept payments from any location in the world, with instant exchange rate conversion and financial consolidation.
  • Audit and Compliance Reporting: With NetSuite OneWorld, businesses can operate within the regulatory requirements and receive insights into their operations and performance with the always-on audit trail, built-in analytic tools, access logs, and automated workflows.
  • Indirect Tax Management: The SuiteTax feature on NetSuite OneWorld helps businesses manage their tax process with automation. The software offers detailed reporting for financial transactions, preconfigured tax codes and reporting for about 110 countries.
NetSuite OneWorld software launched in 2008. Oracle NetSuite is a global brand with over 20,000 employees. In 2017, NetSuite OneWorld won the Cloud ERP Product of the Year at the UK Cloud Awards.

Who is it best for?

NetSuite OneWorld was developed with the idea to serve multinational enterprises and companies with multiple subsidiaries. Since OneWorlds launch, NetSuite Inc.has been focusing on offering its services to middle market companies and divisions of larger companies.

Companies currently using OneWorld can be found in software design, manufacturing, wholesale distribution and non-profit sectors. Some example customers include Solarwinds, Advantage Sign Supply, RedBuilt, Wrigleyville Sports, Niner Bikes, Gawker Media, San Diego Futures Foundation and KIVA.

Main features and functionalities

NetSuite OneWorld was designed to assist companies in increasing growth. It is a powerful tool when it comes to handling businesses with large and complex structure, allowing managing multiple business units at multiple locations or countries, accelerating financial consolidation and easily handle multiple currencies and taxation rules.

In addition, OneWorld will streamline back-office processes such as financial period close, order-to-cash, revenue recognition, budgeting and forecasting, and global financial recognition.

What is the actual cost?

NetSuite OneWorld pricing is based on a sole subscription plan, starting at $999 per month for base access, and $99 per month for every additional user.

ITQlick pricing score is 4.6 out of 10 (10 is most expensive). Access ITQlick pricing guide for NetSuite OneWorld.

Pros

  • The multi currency feature on NetSuite OneWorld is helpful for multinational organizations
  • The software integrates well with other business management tools
  • NetSuite OneWorld is easy to use
  • Planning, forecasting and budgeting functionality has been simplified
  • NetSuite OneWorld can also be utilized for core accounting tasks such as payment management, accounts receivable and payable, and general ledger

Cons

  • Customization can be problematic and lead to difficulties on NetSuite OneWorld
  • The software pricing is on the higher side for smaller businesses
  • OneWorld does not operate active/active, redundant data centers which is quite risky with respect to cloud delivery

How it stacks up?

Access a head to head analysis of NetSuite OneWorld vs alternative software solutions.
ITQlick rating
Score
Pricing
License pricing
Functionality
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NetSuite...
ITQlick rating
3.8/5
Score
93/100
Pricing
4.6/10
License pricing
$999 per month
Functionality
18
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SAP ERP
ITQlick rating
4/5
Score
97/100
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10/10
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$56 per user/month
Functionality
44
Global S...
ITQlick rating
4.2/5
Score
93/100
Pricing
4.6/10
License pricing
Pricing not available
Functionality
67
OptiProE...
ITQlick rating
2.8/5
Score
92/100
Pricing
2/10
License pricing
$700 per license
Functionality
26
EnterpriseIQ
ITQlick rating
4.4/5
Score
92/100
Pricing
3.8/10
License pricing
Pricing not available
Functionality
39

Frequently Asked Questions (FAQs)

Is it the best ERP system?

NetSuite OneWorld is ranked 3 out of 271 software in their category (ERP systems).

How they are rated on ITQlick?

The rating of NetSuite OneWorld is 3.8 stars out of 5 and the total score is 93 out of 100. The rating score is based on our unbiased data-based algo. Learn more - rating methodology page.

Is it an easy to use Software?

Yes, NetSuite OneWorld makes it fairly easy to use. This product is user friendly and intuitive.

Is it cloud-based?

Yes, they offer cloud based hosting, which means IT resources are retrieved through web-based tools and applications and you don't need to buy servers and additional hardware equipment.

Can it be used on mobile?

No, currently NetSuite OneWorld can't be accessed on mobile, you would need to access it from your computer.

What should we ask during a demo session?

Differences between NetSuite OneWorld and alternatives?

The most popular alternatives to NetSuite OneWorld in 2022: SAP ERP, Global Shop Solutions ERP, OptiProERP, EnterpriseIQ, Smartbol Enterprise. Access the complete competitors analysis here - NetSuite OneWorld VS ERP Software alternatives.

Is NetSuite OneWorld right for you or your business?

NetSuite OneWorld is a cloud-based ERP and business management software solution built for global and multi-subsidiary enterprises across different industries like service providers, e-commerce, etc. Cardinal Health, Inc, GE Capital Fleet Services, and The Kroger Company are some notable names that use NetSuite OneWorld.

List of categories

Accounting & Finance
Budgeting & CPM
ERP
Engineer-to-Order Manufacturing

List of features

Accounts Payable
Accounts Receivable
Billing & Invoicing
Budgeting & Forecasting
Cash Flow
E-commerce
Fixed-Assets
General-Ledger
Sales Reporting
Time & Expense
Business Intelligence Module
CRM Module
Inventory Management Module
Project Management Module

Author - Shlomi Lavi

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Shlomi Lavi is an entrepreneur and founder of ITQlick.com. He holds a Bachelor of Science (B.Sc.) in Information Systems Engineering from Ben Gurion University in Israel. Shlomi brings 17 years of global IT and IS management experience as a consultant and implementation expert for small, medium and large-sized (global) companies. Shlomi’s goal is to share the best knowledge and news about information systems so you can make smarter buying decisions for your business.