The Best Credit Card Payment Processing Companies For Small Business
Read More Jun 13, 2022 Filed under: Credit Card Processing
NetSuite ERP & SRP Review
NetSuite is incredibly well-developed and feature-rich and is best for quickly growing businesses and enterprises needing a full ERP or SRP solution.
-
Expert Analyst & Reviewer
UPDATED
Advertiser Disclosure: Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity.
NetSuite ERP & SRP
| Total Rating | 4.5 |
|---|---|
| Pricing | Poor |
| Features | Excellent |
| Customer Service | Fair |
| Integrations | Excellent |
| Reviews | Good |
Accounting Method
Accrual & Cash BasisPricing
Contact NetSuite for pricingBusiness Size
Enterprise-level businesses with unlimited usersNetSuite ERP & SRP At A Glance
- NetSuite is designed for enterprise businesses. The software is ideal for companies that have outgrown QuickBooks and need a full business management solution, not just accounting software.
- NetSuite ERP is optimized for businesses with inventory in multiple locations that need to track information by warehouse or department.
- NetSuite SRP is ideal for large service-based businesses that need complex project management, project billing, and time management features.
Pros
- Impressive feature set
- Suited for large businesses
- Advanced permissions
- Ample accounting reports
- Numerous integrations
Cons
- Unsuited for small businesses
- Expensive yearly cost
- Moderate learning curve
Table of Contents
What Is NetSuite?
NetSuite is a cloud-based provider of enterprise-level solutions, including enterprise resource planning (ERP) software. NetSuite provides users with robust features, customizability, and global compliance. The software is incredibly well-developed and feature-rich; however, it has a learning curve.
NetSuite is also on the high end in terms of cost for ERP software — pricing can start at $10,000/year. For some enterprises, the cost is more than worth it, but if you just balked at this number, we recommend checking out other ERP options, such as Odoo Accounting instead.
NetSuite Pricing
| NetSuite ERP & SRP Plans | Price | When To Use |
|---|---|---|
| NetSuite ERP | Contact NetSuite for pricing | If you need robust inventory management features |
| NetSuite SRP | Contact NetSuite for pricing | If you need strong project management |
NetSuite offers multiple enterprise solutions, including ERP, Service Resource Planning (SRP), eCommerce, point of sale (POS), you name it. When you sign up with NetSuite, the software is tailored to your business, and your business could end up using just one or any combination of the programs above.
There are no definitive prices because the software is custom-tailored to your business. The representative I spoke to said clients might pay anywhere from $10,000/year to $1,000,000/year.
The good thing about NetSuite is that you will never outgrow the software. The features are so comprehensive and flexible that the software will expand as your company does. The sky’s the limit with this one.
The best way to learn how much NetSuite costs is to talk directly to a representative. You can request a free consultation to get an idea of what you might be paying.
If you’re looking for a more affordable accounting solution, check out our post on the best accounting software for large businesses & enterprises to start your search for a cheaper ERP option.
Extra NetSuite Costs & Fees
| NetSuite ERP & SRP Extra Costs | Price |
|---|---|
| Additional User Licenses | Contact NetSuite for pricing |
| Customer Support | Contact NetSuite for pricing |
Is NetSuite Easy To Use?
There is an implementation process for NetSuite that can get quite lengthy. From what I gathered from customer reviews, the implementation process can take anywhere from a couple of weeks to six months, depending on your business and the NetSuite solution you choose. Speak to a representative for more information as well as a price quote.
NetSuite’s cloud-based solutions are tailored to each business and can be incarnated in a number of different ways. While the features your enterprise has access to may vary, the software’s well-organized design doesn’t. With so many features available, NetSuite has a moderate learning curve; however, the company tries to simplify navigation as much as possible with a logical UI. Paid customer support plans and training are available if you need extra assistance with learning the software.
NetSuite Features
| NetSuite ERP & SRP Features | Availability |
|---|---|
| Budgeting | |
| Tax Support | |
| Invoicing | |
| Estimates | |
| Client Portal | |
| Contact Management | |
| Expense Tracking | |
| Bank Reconciliation | |
| Chart Of Accounts | |
| Accounts Payable | |
| Inventory | |
| Time Tracking | |
| Project Management | |
| Number Of Reports | 100+ |
NetSuite is an incredibly well-developed software with tons of features and ample customizations. There are many overlapping similarities between the NetSuite ERP and NetSuite SRP, but each software focuses on a different business model and provides distinct features, explained in further detail below.
Because this software is a customized solution, contact a NetSuite representative to find the solution that best fits your needs.
Invoices & Estimates
Both NetSuite ERP and SRP offer several features that make it easy to send invoices and estimates to customers. Standout features include:
- Customizable templates
- Easily print invoices and estimates or send via email or fax
- Add class, department, and sales rep to invoices
- Option for management to approve invoices before sending them out
- Convert estimates to invoices
- Email templates
Contact Management
NetSuite’s software solutions provide numerous ways to manage clients, customers, contractors, vendors, and employees. Notable contact management features available include:
- Unlimited custom fields
- Add tasks to contacts
- Attach files to contacts
- Vendor management
- Lead management
- Employee database
NetSuite Customer Service
| NetSuite ERP & SRP Support | Availability |
|---|---|
| Phone Support | |
| Email Support | |
| Support Tickets | |
| Live Chat | |
| Dedicated Support Representative | |
| Knowledge Base or Help Center | |
| Videos & Tutorials | |
| Company Blog | |
| Social Media |
Along with $10,000+ a year for the software and the cost of implementation, NetSuite also charges for customer support. There are two paid support plans. The company is not transparent about its pricing, so you’ll need to contact NetSuite directly for pricing details. One nice touch is that, with both plans, you can add authorized support contacts, so other members of your team can talk directly with NetSuite’s support.
Customer reviews show mixed feelings about NetSuite’s customer service. Some users seem really happy with the help they received, while others report poor customer support. In addition to the paid support plans, NetSuite does provide several other support options, including some free resources.
NetSuite Integrations
NetSuite offers over 450 integrations, including 20 payment processing apps. API is also available. The number of integrations is impressive, especially considering that NetSuite is such a full software package already and doesn’t need the added functionality of integrations as much as other programs.
NetSuite Reviews
NetSuite has a large internet presence, and the majority of customer reviews regarding the company are positive. However, there are still a few issues users have with NetSuite.
Despite some complaints, most users seem to enjoy NetSuite. NetSuite receives 4.1/5 stars on Capterra (based on 800+ reviews), and 3.9/5 stars on G2 (based on 1,900+ reviews). Testimonials and videos can also be found on the company’s site.
Negative NetSuite Reviews & Complaints
- Too expensive
- Difficult to learn
- Long implementation process
- Extra fees for customer support
Positive NetSuite Reviews
- Robust features
- High level of customizability
- Ideal for global business
- Strong reporting and analytics
Is NetSuite Secure?
NetSuite provides its users with incredibly strong security and meets many security standards, including OC 1, SOC 2, PCI-DSS, and EU-US Privacy Shield framework. The software models security measures after the National Institute of Standards and Technology (NIST). Other notable security features include:
- 256-bit TSL encryption
- Regular monitoring and security audits
- Firewalls
- 24/7 physical security and surveillance at NetSuite data centers
- IP restriction and access control
The Final Verdict: Is NetSuite Worth It?
| NetSuite ERP & SRP Review Summary | |
|---|---|
| Pricing | Contact NetSuite for pricing |
| Choose If You Need |
|
Enterprises and large-scale businesses needing complex accounting tools, project management, and inventory features could benefit from NetSuite SRP or NetSuite ERP. The software is robust, offers over 450 integrations, receives relatively positive customer reviews, and provides strong security, global compliance, and international invoicing — all from the cloud. The software is ideal for companies needing highly customizable accounting, global compliance, or subsidiary management and that have big pockets.
For large enterprises, NetSuite is a robust, scalable solution. But if you don’t fall into this category, there are more affordable ERP solutions out there as well as great large business accounting programs. If you are looking for a more affordable ERP, check out Odoo Accounting or some of our other accounting and bookkeeping software reviews.
If you’re not scared of the price tag and think your business could benefit from NetSuite, schedule a free product demo. Watch as many tutorials as you can, pick the brain of a NetSuite representative, do your homework before jumping into any contracts, and let us know what you think!
NetSuite FAQs
Erica Seppala
Expert Analyst & Reviewer at Merchant Maverick
An expert in accounting, finance, and point of sale, Erica has been researching and writing about all things small-business since 2018. Erica's insights into personal and business finance have been cited in numerous publications, including MSN, Real Simple, and Reader's Digest. She is a graduate of Limestone College.
View Erica Seppala's professional experience on LinkedIn.
Latest posts by Erica Seppala (see all)
- 6 Best Tanning Salon Software - November 14, 2022
- How To Use Square Gift Cards & Boost Sales This Season - September 30, 2022
- The 13 Best Small Business Grants For Felons Who Want To Start A Small Business - September 6, 2022
- 6 Best Barbershop POS Software To Manage Your Shop Like A Boss - August 25, 2022
- The Best Accounts Receivable Software - August 24, 2022
The Merchant Maverick Seal of Approval 🏆
NetSuite ERP & SRP |
|---|
After hours of in-depth research and evaluation, we can confidently recommend this brand to our readers. Get started today and see NetSuite ERP & SRP for yourself.
The Merchant Maverick Seal of Approval 🏆
NetSuite ERP & SRP |
|---|
After hours of in-depth research and evaluation, we can confidently recommend this brand to our readers. Get started today and see NetSuite ERP & SRP for yourself.
Organization Name: The Locksmith Co
Run away! No morals or standards!We were supposed to go live in January this year so I paid my $30,000 deposit. Get into trying to implement and turns out most of the key points that we require to function that we were told the system did it couldn’t. 6 months of giving them time to get us this functionality and still no answer. We had to move on and they are refusing to refund us.9-13-21 Just had a conference call with the CEO of this company who in a nut shell said it was our fault that the system couldn’t do what we were told it could and was sold as being capable of doing. I can’t stress enough do not do business with this company. It may cost 50 employees their jobs but they’re better off not working for a company with no morals.9-20-21 Got another email today from the CEO of NextServices again. So far no one from Netsuites has even responded to him to give him the recordings of our 3 presale conference calls. Welcome to my world of dealing with Netsuites and NextServices unless you’ve got money they want.Update 9-22-21Response from [Name Redacted]:Hi [Name Redacted],I had a conversation with Netsuite and they have no recording of the demonstration or any follow up conversations. This puts me in a difficult position since I am getting different versions of the story from both sides. The fact remains that Locksmith Company has determined that you cannot use Netsuite or Next Service to run your business, so the only fair conclusion to this I can find is to refund you the license fees paid minus our costs. We will therefor cancel your contract and refund you $11,220. We will pay you in 2 installments on Oct 15th and Nov 15th.I am sorry we could not move forward with the project and I wish you well with your business moving forward.Thank You, [Name Redacted] My reply is that at this amount my review stands.His reply is sorry but it’s contingent on this not being public. You’re welcome to call me back [Name Redacted] and work this out to a reasonable solution or I will continue other courses of action. Pretty sure this review is going to cost you more in revenue then refunding my money.
This comment refers to an earlier version of this review and may be outdated.