Running a business can be stressful enough without having to worry about finances and bookkeeping. NetSuite is a cloud-computing company that supports businesses with the day-to-day functioning of the business, such as managing finances, operations, and customer relations. NetSuite does, however, have very strong competitors that are listed below, with the most suitable competitor being Sage Intacct.
Top 10 NetSuite alternatives and competitors
- Sage Intacct – Most suitable alternative
- Acumatica – Suitable for small and medium-sized businesses
- FinancialForce Financial Management ERP – Real-time financials
- SAP ERP – Unified system
- Kinetic – Guided by the needs of users
- SAP Business One – For small and medium-sized businesses
- SAP S/4HANA Cloud – An updated version of SAP ERP
- QuickBooks Online – Accounting software with efficient support
- QuickBooks Desktop Pro – Locally installed
- QuickBooks Desktop Enterprise – Most advanced QuickBooks product
1. Sage Intacct – Most suitable alternative to NetSuite
Pricing:
- Accounting start: £12 + VAT per month
- Accounting standard: £26 + VAT per month
- Accounting plus: £33 + VAT per month
- The first three months are free with all three packages
Sage Intacct is a provider of financial management and services to businesses and is cloud-based. It automates complex processes and data analysis for various group sizes and structures. Sage Intacct has received the highest scores of customer satisfaction due to its policy of Return on Investment (ROC).
Key features:
- General Ledger (journal entries, audit trail, tags/dimensions
- Accounts Receivable (invoice customization)
- Accounts Payable (AP automation, payment processing)
- Reporting and Analytics (financial statements, dashboards, custom reporting)
- Platform (customization, performance and reliability, output document generation)
- Integration (data import and export tools)
Reasons to buy:
- Good integrated accounting system
- Flexible
- Easy to use
- Cloud-based
- Quarterly updates released
Reasons to avoid:
- No back-up approvers
- Can be complex for new, untrained users
2. Acumatica – Suitable for small and medium-sized businesses
Pricing:
- Pricing is determined by the company’s needs.
Acumatica is a provider of technology that develops resource planning software, using cloud- and browser-based enterprises. Acumatica provides business-management services that digitally resilient companies can use to make for a more efficient workspace.
Key features:
- Payroll management
- Customization
- Security
- Reporting analytics
- General ledger and configurable accounting
- Inventory management
- Order management
- Subledger and financial process
Reasons to buy:
- Implementation and planning with VAR partner
- Consultation, customization, and upgrade services
- Acumatica Open University for self-paced online learning
- Mobile application
Reasons to avoid:
- It may be difficult to navigate at first
- No personalization features
- The expense approval process is not as fluid
- No supplier remittance function
3. FinancialForce Financial Management ERP – Real-time financials
Pricing: Pricing can be requested on the website
FinancialForce is an ERP Cloud Financial Management software on the Salesforce platform. This software offers a flexible general ledger, automated billing processes and more streamlined financial operations. It also offers real-time financial analysis, making the software very efficient and up-to-date.
Key features:
- Complete and seamless front and back office connectivity
- Full business visibility and contextual analytics
- Services and subscription agility for any business model
- A solution natively built on Salesforce
Reasons to buy:
- Resource planning
- Easily accessible user interface
- View of all CRM-related information of a customer account along with invoices is available on one screen
Reasons to avoid:
- The revenue recognition module is very basic-does not create deferred revenue waterfall schedules
- There is no way to connect payments to an invoice in an automated way
4. SAP ERP – Unified system; All business sizes
Pricing: A pricing guide can be downloaded on the website.
SAP ERP is software that integrates all main business functions into one system, serving over 180 countries and offering on-premises, cloud, and hybrid deployment models. Businesses can run their accounting, production, HR, and finance systems and is, therefore, diverse software. This software is for all business sizes.
- Key features:
- Centralized data
- Automation
- Program accessibility
- Mobile functionality
- Globalization
- All business sizes
Reasons to buy:
- Enables users to look at relevant data in real-time
- Revenue boost due to efficiency
- The system is robust enough to handle large amounts of business processes
- Customization opportunities
- Data management
Reasons to avoid:
- The user interface is difficult to use
- Costs are expensive
- Sometimes has a slow performance
- Implementation is complex
5. Kinetic – Guided by the needs of users
Pricing:
- Starting price is $175 per user per month
Kinetic offers its users a modular approach, focusing on reducing costs for the business and streamlining processes. It also focuses on improving customer responsiveness in order to achieve growth and profitability.
Key features:
- Track and monitor the entire business
- Real-time visibility into business operations
- Compliance management
- Customer relationship management
- Enterprise performance management
- Financial management
- Human capital management
- Maintenance management
- Master data management
- Multi-company management
- Planning and scheduling
- Product data management
- Production management
- Project management
- Quality assurance
- Sales management
- Service management
- Supply chain management
Reasons to buy:
- Reduce costs by streamlining processes
- Optimize lean manufacturing to focus on priorities to make smarter decisions
Reasons to avoid:
- No integrations with financial and HR applications
- Complicated customization
- Requires an experienced user to maintain
- Personalization lost after updates
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6. SAP Business One – For small and medium-sized businesses
Pricing:
- Limited membership: $99 per month
- Starter membership: $110 per month
- Pro membership: $132 per month
SAP Business One is also a business management software that can be used by small to medium-sized businesses. The aim of the software is to improve efficiency, reduce cost and improve profitability, much like the other ERP software that is available.
Key features:
- Reporting and analytics
- Relationship maps showing progress from start to finish
Reasons to buy:
- Relationship maps
- Easy to pay and bill customers and vendors
- Good performance in handling business functions
- Easy to use
Reasons to avoid:
- Extra features cost extra money
- Need to train users before can be used efficiently
- Limitations in being able to customize dashboards and cockpit features
7. SAP S/4HANA Cloud – A updated version of SAP ERP
Pricing:
- $165 per license for all users
SAP S/4HANA is an updated version of SAP ERP and is a platform used for large enterprises powered by AI and analytics. Business missions can be run in real-time from anywhere and allow its customers to introduce new business models into their industry. SAP S/4HANA is integrated into one system, ensuring that businesses can make decisions efficiently and in a timely manner.
Key features:
- Payroll management
- Customization
- Security
- Reporting and analytics
- General ledger and configurable accounting
- Inventory management
- Order management
Reasons to buy:
- Mobile application
- Analytics dashboard
- Customized reporting
- Role-based provisioning
- Reconciliation features across process
Reasons to avoid:
- Cost of implementation
- Codes are difficult to use
- No free time in the learning hub
8. QuickBooks Online – Accounting software with efficient support
Pricing:
- Simple start: $12.50 per month
- Essentials: $25 per month
- Plus: $40 per month
QuickBooks Online offers real-time financial management on a secure platform. Business owners can use this software to pay taxes, pay employees and keep up-to-date with their finances. QuickBooks can be used from anywhere. QuickBooks online has between 1-25 users.
Key features:
- Accounting software
- Invoicing
- Payroll
- Bank connections
- HMRC self-assessment
- Time tracking
- Expenses
- VAT software
- Tax software
- Cash flow insights
- CIS
- Income Tax estimates
- Free phone support
Reasons to buy:
- Ability to turn paper receipts into digital files
- VAT error-checking feature
- Easy to use and learn
- Integrates well with other systems and is flexible with 3rd party applications
- Provides accurate accounting reports
- Easily accessible
- Advanced invoicing
Reasons to avoid:
- Lack of industry and business-specific features
- Lack of key reports outside of accounting
- Instability
- Limitations on the number of users
- Data is not always backed-up
9. QuickBooks Desktop Pro – Locally installed
Pricing:
- $349.99 per year
Much like QuickBooks online, this software is used by business owners to manage their finances. QuickBooks Desktop Pro, however, is locally installed and has between 1-3 users.
Key features:
- Salary revision and increment management
- Multi-user access
- Integration
- Enhanced computing power
- Pay vendor bills in QuickBooks
- Automated mobile bill entries
- Attach documents to transactions
- Customize bill payment stubs
Reasons to buy:
- Accounts receivable tracking
- Easy to generate reports
- Concise bank account registers
- Exportable reports
- Easy to track invoices
- Advanced reporting
Reasons to avoid:
- Can be pricey if you are using the payroll
- Sorting is not supported
- Discontinued for UK users
10. QuickBooks Desktop Enterprise – Most advanced QuickBooks product
Pricing:
- Gold with Core cloud access: $184.46 per month
- Platinum with Core cloud access: $214.16 per month
- Diamond with Core cloud access: $368.60 per month
QuickBooks Enterprise is a more advanced software compared to QuickBooks Online and QuickBooks Desktop Pro and can support up to 1 million list items, users, and vendors. This is the best option for businesses that are growing rapidly.
Key features:
- Advanced inventory
- Advanced pricing
- Advanced reporting
- Field service management
- Order management
- Job costing
- Cloud access
- Bill workflow approvals
- Enhanced computing power
- E-commerce integration
Reasons to buy:
- Schedule and pay bills faster
- Sales order fulfillment worksheet
- Upload bills with the Desktop mobile app
- Attach documents to transactions
- Customize bill payment stubs
- Choose from multiple email contacts
Reasons to avoid:
- No 24-hour customer support
- Management of integrations can be tricky
- Updates hinder the software from being able to work
References:
- https://www.g2.com
- https://www.acumatica.com
- https://www.sage.com
- https://www.trustradius.com
- https://www.financialforce.com
- https://www.selecthub.com
- https://softwareconnect.com
- https://quickbooks.intuit.com
- https://www.bluelinkerp.com
- https://www.fundera.com
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