In comparison to On-Premises Solutions and some NetSuite competitors, Cloud-Based ERP systems like NetSuite are ideal for Small and Mid-sized businesses because they do not need a high initial investment. Small firms are still concerned with their bottom line and are very cautious when it comes to upfront costs, risk and return on investment (ROI).
In this section, we will explore NetSuite, check its functionalities and will do a quick comparison with some notable NetSuite competitors so our readers, user and customers can make an informed decision when they are deciding to switch ERP systems.
The Enterprise Resource Planning software (ERP) market has been transformed by the boom in growth for Software as a Service (SaaS) cloud-based platforms. Previously, companies have had no choice but to use on-premises implementations for years.
Many of NetSuite’s competitors like SAP Business One, were originally intended to be an on-premise ERP system. However, over the years SAP has moved to cloud ERP. On the other hand, NetSuite cloud ERP was originally designed to stay on the cloud from the beginning. As NetSuite operates on a single platform entirely, it becomes much easier to streamline and manage all departments entirely from NetSuite which isn’t possible with many other competitors of NetSuite ERP.
Because of hardware prices, servicing, and the need for hardware updates every 5 years or so, on-premises ERP systems are exponentially getting more costly than cloud-based ERP systems. There is also a variety of cloud-based Enterprise Resource Planning (ERP) applications designed especially for small to medium enterprises and their team on the market. NetSuite is the most popular ERP software, with over 40,000 business entities using it.
NetSuite’s financial management module offers companies real-time visibility and intelligence into their finance operations while staying compliant with all necessary regulations. With this solution, accountants can witness faster close times, accurate reporting and real-time metrics at every step of the way.
Finances & Accounting Platform
Revenue Management & Recognition
Financial Planning & Reporting
Global and multi-subsidiary Accounting
Governance, Risk and compliance (GRC)
Create custom reports and customizable templates
Complete financial analysis financial management software
Choosing an ERP system is an integral move that your business will make and stick with for years to come. Therefore, it is extremely crucial to ask questions, check demos/functionality and get a hands-on experience before signing the deal. Ultimately the choice is yours, and ERP Buddies is only here to guide you in the right steps.
ERP Buddies is a North American NetSuite Cloud ERP Solution Provider (Software Vendor) with diverse experience in implementing ERP systems for multiple companies across wide industry verticals with a true cloud solution.
With offices in the U.S, Canada (North America), Philippines, India (Asia) and UK, Spain (Europe), our experts are accessible globally and make it their priority to create a smooth and positive experience for clients. Our experts assist clients throughout the entire implementation process, with on-site support and consultation, along with additional assistance in customizing your system functionality to guarantee it meets your business needs.