Choosing the best ERP system for your company is a massive, important decision. We’re taking a look at the difference between two of the top systems available – NetSuite and Acumatica.
What is an ERP System?
An Enterprise Resource Planning (ERP) system is a centralized software application that manages your businesses’ core processes, including sales, order management, accounting, inventory control, human resources, and more. Some of the benefits of an ERP include having a single source of information, the free flow of communication between business areas, and real-time, accurate data reporting.
Overview of NetSuite and Acumatica ERPs
Both NetSuite and Acumatica are ERP systems that are cloud-based, meaning the software is maintained and updated by the software provider and accessed by the customer via the web.
NetSuite was founded in 1998 by Oracle founder Larry Ellison and an early Oracle employee, Evan Goldberg. It was the first cloud-ERP system on the market and is now run as a separate division of Oracle, with over 27,000 clients in more than 200 countries and territories.
Acumatica was founded in 2008 by three former Parallels employees – John Howell, Mike Chtchelknogov, and Serguei Beloussov. Many of the company’s leaders have strong backgrounds in Microsoft’s ERP system. The company currently has 10,000 clients.
NetSuite vs. Acumatica – A Detailed Comparison
NetSuite and Acumatica are comparable across various functionalities. But, in many areas, NetSuite outshines its competitor. More importantly, NetSuite is a preferred solution for companies that want to grow their business and remain flexible. Here are some other features and comparisons:
While both NetSuite and Acumatica provide the core financial management functions that go into an ERP (general ledger, AR, AP, cash management, budgeting, forecasting, fixed assets, etc.), NetSuite offers additional capabilities, including multi-book capabilities and can customize their general ledger.
Both ERP solutions offer CRM capabilities, including integrated marketing, Salesforce automation, a customer service portal, and support automation. NetSuite also has a partner relationship management feature for vendor relations.
Human Resource Management
The payroll functionality of Acumatica’s system is fully integrated, but the remainder of its HR functions come from its partners. NetSuite offers a completely integrated suite of HR features, including payroll, workforce management, employee self-service, performance management, and HR reporting.
If your business operates internationally or has plans for expansion, there are other considerations. For example, Acumatica cannot support multiple currencies, languages, or foreign tax laws the way NetSuite can. NetSuite also offers multi-subsidiary management capabilities.
Reporting and Analytics
Both ERP solutions offer a long list of pre-configured reports, analytics, dashboards, and business intelligence features. Both also offer self-service reporting, but unless you know how to write code, you will be limited in what you can achieve with Acumatica. Acumatica uses batch-based entry, making reporting challenging, while NetSuite offers real-time data entry, ensuring your figures are always accurate.
Infrastructure and Deployment Options
NetSuite and Acumatica are both cloud-based ERP solutions. NetSuite offers a traditional Software as a Service (SaaS) deployment, making scalability simple and giving clients the highest level of security. Acumatica offers both cloud-based and hybrid options, which can lead to scaling and security issues.
Integration is possible with either NetSuite or Acumatica, but it is accomplished through different means. NetSuite allows for integration through APIs and its SOAP-based web services platform. Acumatica also has support for SOAP-based web services as well as other frameworks.
Why You Should Choose NetSuite
There may be a few similarities between NetSuite and Acumatica, but NetSuite has a stronger track record, more features, and is proven at supporting growth. And, while Acumatica might have a lower entry price point compared to NetSuite, users will quickly find that there are tons of hidden costs that ultimately make it the more expensive option.
If you are interested in learning more about how NetSuite can transform your business, we are a licensed Oracle NetSuite Solutions Provider. Contact us today for more information about our services and to learn about the process of a NetSuite implementation.