The company NetSuite was formed in 1998 and after providing initial solutions in accounting software, the company ventured into providing fully integrated ERP solutions. NetSuite is used mainly by small businesses and many customers of Sage shifted to NetSuite in search of better ERP software. The company was founded as Netledger and it initially made accounting software that worked on Oracle 8i e-business suite. The company launched Oracle Small Business Suite and in 2004, the company's ERP got independent identity that was named NetSuite.
The company is one of the initial vendors of on-demand software. The ERP software of NetSuite can be integrated to software designed on many other platforms and technologies. The service as a solution, provided by NetSuite can be integrated to different user interfaces and hosting locations. It can be integrated to different forms designed in different technologies or platforms.
The modules of the software can be bought through different service level agreement as per your business needs. The company also provides complete flexibilities in helps desk and customer support. The company can integrate to different software of human resource and accounting, to provide a complete and fully functional enterprise resource planning system.
The ERP software as a service for small businesses of NetSuite comes at a monthly subscription of $40 per month, although, the cost goes to $100 and $500 for big organization.
1. It provides convenient accounting software, which comes with e-commerce features.
2. It provides web based solution in ERP and you can find many modules such as finance, marketing, payroll, customer relationship management and other modules.
3. In the finance module, it offers accounting, general ledger, account payable, accounts receivable, billing, budget management, sales and estimates, jobs and others.
4. There are other modules in NetSuite such as sales, human resource management, payroll, inventory, purchase, scheduling, check writing and others.
5. The company promises to deliver software on time and the implementation is fast.
6. The main strength of NetSuite lies in its accounting software, which has been praised by most of its customers. The ecommerce solution provided by NetSuite is also attractive.
1. It provides low flexibility as compared to some of the other top ERPs available in market.
2. Functionality of the NetSuite ERP is limited mainly to accounting software.
3. The CRM product of NetSuite was launched with a bang, but it is not very strong as compared to the major market players.
4. The functionality of modules of NetSuite are limited to a few areas of enterprise resource planning and hence, it mainly suites the needs of some mid size businesses. The software mainly aims to acquire QuickBooks and catch the customer.
5. It was also criticized because it did not have a secure data centre and the software did not have a strong back up data centre. The company has been using the data centre of third party on its units.
6. Although, the cost of implementation and cost of the software is less, but the complete procedure takes time and the functionality of the software is limited, which makes it an expensive solutions.