Choosing the right ERP system can significantly impact your organization’s success. Acumatica and NetSuite are two leading contenders in the cloud ERP market, each catering to specific business needs and requirements. Which one is the right fit for your organization? Let’s deep dive into Acumatica vs NetSuite, comparing their features, pricing models, ease of use, and more to help you make an informed decision.
Short Summary
Comparing Acumatica and NetSuite ERP systems, businesses should consider pricing models, feature sets, integration capabilities, and customer support when selecting the best fit for their organization.
Acumatica provides flexible deployment options with subscription-based licensing whereas NetSuite has a tiered structure based on usage.
Both companies are investing in cutting-edge technology with future developments such as artificial intelligence & machine learning.
Acumatica and NetSuite at a glance
Acumatica and NetSuite are both cloud ERP systems, with Acumatica offering on-premise deployment options and being preferred by small and midmarket organizations, while NetSuite is better suited for larger companies with international business management needs.
But how do these two solutions compare in terms of capabilities, scalability, and overall value? Let’s take a closer look.
Overview of both ERP Systems
Acumatica is an ERP software provider founded in 2008. It offers financial management, customer management, project accounting, and specialized editions for various functions & industries. On the other hand, NetSuite, established in 1998, is a cloud-based ERP system that provides similar features with special functionalities geared towards large international conglomerates with multiple entities. Both Acumatica and NetSuite offer core ERP capabilities in finance, customer management, and product management, and the essentials for effective supply chain management.
When it comes to deployment options, Acumatica stands out with its flexibility. Whilst a cloud solution at its core it does offer the option to have some components or all of them on-premise. NetSuite does not offer that flexibility.
Both ERP systems also come with integration capabilities and support, with Acumatica providing 24/7 customer support and cloud hosting. Acumatica also has strong integration options with cloud-based applications like Velixo, Criterion HCM, and e-commerce platforms like Adobe Commerce (formerly Magento) to maximize capabilities.
Key Differences between Acumatica & Netsuite
Foundation and Ownership:
Acumatica: Independent privately held company.
NetSuite: Acquired by Oracle in 2016 and now operates as its subsidiary.
Licensing and Pricing:
Acumatica: Pricing is based on resource consumption and features chosen, not on the number of users. This means that you can have unlimited users without increasing costs.
NetSuite: Pricing is typically based on a per-user model. The more users you have, the higher the costs.
So it depends on each organization but in general, Acumatica is cheaper than NetSuite with a cheaper base price unless you have a predictable workload necessitating limited resources and fewer users (somewhere between 5 and 10 users Acumatica becomes cheaper depending on all other cost considerations).
Customization & Integration:
Acumatica: Known for its flexibility and openness, it offers a robust API and SDK, allowing businesses to customize and integrate as required.
NetSuite: Also offers customization capabilities through its SuiteCloud platform, but some users have reported limitations compared to Acumatica.
Deployment Options:
Acumatica: Offers both cloud-based and on-premises deployment options.
NetSuite: Cloud-based with no on-premises option.
Target Audience:
Acumatica: Often targeted at small to mid-sized businesses but can also scale up for larger businesses.
NetSuite: Typically targets larger multinational companies.
Industry Solutions:
Acumatica: Offers specialized editions for Manufacturing, Distribution, Retail, and Construction companies. Acumatica also has a General Business edition that is ideal for Service-based companies, Agencies and boutique firms, Nonprofits & Associations, Software companies, Startups & Growing Businesses, Real Estate companies, Holdings, Franchisors, and other organizations with unique Business models.
NetSuite: Provides solutions for industries such as Wholesale Distribution, Manufacturing, Retail, Internet Companies, Professional Services, Advertising, Media & Publishing, and Nonprofit organizations. NetSuite also caters to Financial Services, Healthcare, Education, Energy, and the Food & Beverage sector.
They both provide tools tailored to specific industries, addressing their unique challenges and requirements.
User Interface:
Acumatica: Known for its modern and intuitive user interface, which many users find easy to navigate.
NetSuite: Although the interface is comprehensive, some users find it less intuitive than Acumatica’s with some outdated quirks.
Support & Community:
Acumatica: Provides comprehensive support and has a growing community. There is an Acumatica Summit annually where users, partners, and developers gather to discuss best practices and new features.
NetSuite: Being backed by Oracle, it has extensive support and a large user community. The dichotomy between Oracle and Netsuite has led to some confusion on some issues though. SuiteWorld is NetSuite’s annual event.
Scalability:
Acumatica: Designed with scalability in mind, allowing businesses to grow without having to transition to a new system.
NetSuite: Also scalable and has been adopted by a wide range of businesses, including Fortune 500 companies.
Global Capabilities
Acumatica: Offers multi-currency and multi-language support. It also supports Multi-Entity & Intercompany Accounting but might be less equipped for complex global operations than NetSuite.
NetSuite: Strong global capabilities, with support for many languages, currencies, country-specific financial requirements, and complex businesses with numerous entities.
History and Background
Acumatica was launched in 2008 as a cloud-based ERP solution for small and mid-sized businesses, providing both on-premises and SaaS versions. NetSuite, on the other hand, was established in 1998 as a cloud-based ERP solution for mid-sized and large businesses and was later acquired by Oracle in 2016.
Throughout their respective histories, both Acumatica and NetSuite have undertaken several acquisitions to expand their offerings and solidify their positions in the ERP market.
Acumatica: Origins and evolution
Acumatica was founded by John Howell, Serguei Beloussov, and Mike Chtchelkonogov, who sought to create an ERP system that catered to the unique needs of small and medium-sized businesses. Since its inception, Acumatica has grown its customer base to over 10,000 clients.
As Acumatica continues to grow and evolve, it remains dedicated to providing flexible, scalable, and cost-effective ERP solutions that meet the ever-changing needs of small and medium-sized businesses. The company’s commitment to innovation and ongoing development ensures that its clients have access to the latest features and capabilities to stay competitive in the market.
NetSuite’s Story
NetSuite was founded by Evan Goldberg and Zach Nelson in 1998. The company was originally named NetLedger, and it was the first company to offer web-hosted accounting software. In 2002, NetLedger changed its name to NetSuite and expanded its offerings to include ERP and CRM software.
NetSuite quickly became a leader in the cloud-based ERP market. NetSuite also invested heavily in innovation, and it was one of the first ERP companies to offer mobile apps and social media integration.
In 2016, NetSuite was acquired by Oracle for $9.3 billion. The acquisition gave NetSuite access to Oracle’s vast resources and customer base. It also allowed NetSuite to expand its offerings to include more industry-specific solutions.
Today, NetSuite is one of the leading cloud-based ERP providers in the world. The company has over 36,000 customers in over 200 countries. NetSuite is committed to providing its customers with the latest technology and solutions to help them grow and succeed.
Acumatica vs netsuite deep dive:
Pricing Models and Cost Effectiveness
Acumatica and NetSuite offer different pricing models that can impact the cost-effectiveness of each solution for different businesses.
Acumatica: Acumatica uses a consumption-based pricing model, which means businesses only pay for the features and resources they use. This can be a good option for businesses with fluctuating resource requirements, as they can scale their costs up or down as needed. However, it can also be more complex to track and manage costs under this model.
NetSuite: NetSuite uses a per-user pricing model, which means businesses pay a fixed price per user, regardless of how many features or resources they use. This can be a good option for businesses with predictable resource requirements, as they can easily budget for their ERP costs.
In terms of cost-effectiveness, both Acumatica and NetSuite offer robust ERP solutions with varying price points. The best pricing model for a particular business will depend on its specific needs and requirements.
For small businesses with limited budgets or resource needs, Acumatica’s flexible pricing model may be more appealing. This is because Acumatica’s consumption-based pricing model allows businesses to only pay for the features and resources they use, which can help to keep costs down. Additionally, Acumatica’s pricing model is more transparent than NetSuite’s per-user pricing model, as businesses can see exactly what they are paying for.
However, for larger organizations or those with more complex requirements, NetSuite’s per-user pricing model and extensive feature set may provide better overall value. This is because NetSuite’s per-user pricing model can help businesses easily budget for their ERP costs, and its extensive feature set can help businesses to streamline their operations and improve their bottom line.
Ultimately, the best way to determine which pricing model is right for your business is to speak with an ERP consulting company. Expert ERP consultants can help you assess your specific needs and requirements and recommend the best pricing model for your business.
User Experience and Ease of Use
User experience and ease of use are critical factors to consider when choosing an ERP system. Both Acumatica and NetSuite offer modern user interfaces, but they differ in terms of their overall usability.
NetSuite is known for its intuitive and user-friendly interface, which makes it easy for businesses to navigate and manage their operations. The software is designed to be accessible to users of all levels of technical expertise, and it offers a variety of features to help users customize the interface to their specific needs.
Acumatica offers a more modern user interface with more options, but it may require more configuration and customization to meet specific business needs. Ideal Acumatica setup might be slightly more time-consuming but usually proves beneficial in the long run.
One key difference between Acumatica and NetSuite lies in their accounting systems. NetSuite’s accounting system is built on a unified database, which provides real-time financial data and more efficient processes. This can be a significant advantage for businesses that need to make quick financial decisions or track their finances in real-time.
Acumatica, on the other hand, relies heavily on batch processing. This means that financial data is updated periodically, rather than in real-time. This can impact accuracy, productivity, and timeliness, especially for businesses that need to make frequent financial transactions.
In terms of subsidiary consolidation, NetSuite offers automatic, real-time consolidation. This means that all financial reporting and data from subsidiaries is consolidated into a single view in real-time. This can be a valuable tool for businesses with multiple subsidiaries, as it allows them to track their financial performance across their entire organization.
Acumatica requires manual consolidation, which can be time-consuming. However, an intercompany accounting middleware engine can be implemented to automate this process.
Feature Comparison: Acumatica vs NetSuite
Acumatica and NetSuite are both cloud-based ERP systems that offer a wide range of features. However, there are some key differences between the two systems in terms of their features and functionality.
Financial management
Both Acumatica and NetSuite offer comprehensive financial management features, including accounts payable, accounts receivable, payroll management general ledger, and budgeting. However, NetSuite’s financial management features are more advanced and offer more reporting and analysis capabilities.
Inventory management
Acumatica and NetSuite both offer advanced inventory management module features, but NetSuite’s inventory management module is more advanced and offers more features, such as lot tracking, serial number tracking, and barcode scanning.
Customer relationship management (CRM)
Both Acumatica and NetSuite offer CRM features, but NetSuite’s CRM module is more comprehensive and offers more features, such as social media integration, marketing automation, and customer self-service portals.
Other features
Acumatica and NetSuite also offer a variety of other features, such as project management, manufacturing, and human resources.
Overall
The choice between Acumatica and NetSuite will depend on the specific needs and requirements of your business. If you are looking for a system with a wide range of features and functionality, NetSuite is a good option. However, if you are looking for a more affordable system with basic features, Acumatica may be a better choice.
Integration and Third-Party Compatibility
Integration capabilities and third-party compatibility are essential factors for businesses looking to streamline their operations and maximize the value of their ERP system. Both Acumatica and NetSuite offer robust integration capabilities, allowing businesses to connect their ERP systems with popular third-party applications.
Acumatica has a strong native integration capacity with leading hardware and software providers. It offers a wide range of third-party integrations, including CRM and ERP systems. For example, Acumatica can be integrated with Salesforce to create a seamless customer relationship management (CRM) process. It can also be integrated with Microsoft Office to provide users with a familiar interface and to enable them to collaborate on documents and spreadsheets.
NetSuite also provides a comprehensive range of integration capabilities through its multi-tenant cloud platform, SuiteCloud. SuiteCloud offers APIs and SuiteTalk for integrations, making it easy for businesses to connect NetSuite with their existing systems.
Customer Support and Resources
Customer support and resources are essential factors to consider when choosing an ERP system. A good customer support team can help you get started with your ERP system, troubleshoot problems, and provide ongoing support. A comprehensive knowledge base can also be a valuable resource for users who need help with specific tasks or features.
Acumatica and NetSuite both offer 24/7 customer support, including a toll-free phone service available worldwide. However, NetSuite’s customer support is generally considered to be superior to Acumatica’s. NetSuite has a dedicated customer success team that is available to help users with any questions or problems they may have. NetSuite also has an extensive online community where users can ask questions and get help from other NetSuite users.
Acumatica’s knowledge base is also accessible to users, but it may not offer the same depth of resources and support as NetSuite. NetSuite’s knowledge base is more comprehensive and includes articles, videos, and tutorials on a wide range of topics. NetSuite also offers a variety of self-service tools that users can use to troubleshoot problems.
However, considering the price difference between Acumatica and NetSuite, Acumatica users are more likely to allocate resources to dedicated ERP specialists that maximize the effectiveness of the ERP solution and greatly diminish the need for additional Customer Support.
Future Outlook and Roadmap
As technology continues to evolve, it’s crucial for businesses to invest in ERP systems that have a strong future outlook and are committed to staying ahead of industry trends. Both Acumatica and NetSuite have promising future outlooks, investing in the latest technology and features to remain competitive in the market.
Acumatica is focused on innovation and product development, while NetSuite is broadening its global reach and aiming to expand its customer base.
Acumatica’s vision for the future
Acumatica’s vision for the future includes continued growth and expansion, with a focus on providing flexible and scalable order management solutions for small and medium-sized businesses. By listening to customer feedback and aligning product development with the needs of its target market, Acumatica aims to remain a future-proof platform for enterprises.
At the Acumatica Summit 2023, the company highlighted its collective efforts in formulating the future of business, emphasizing its commitment to innovation and product evolution. With a strong focus on strengthening global operations, delivering a comprehensive ERP solution, and providing a transparent product roadmap to the public, Acumatica is poised to remain a key player in the ERP market for years to come.
Upcoming developments in NetSuite
NetSuite’s upcoming developments include further enhancements to its features, integration capabilities, and industry-specific solutions, as well as continued growth in the global market. With a focus on automated data capture,, advanced ERP capabilities, autonomous accounting features, and regular updates featuring new automation and standardization capabilities, NetSuite is committed to delivering the most up-to-date technology and features to its customers.
In addition to product enhancements, NetSuite is also investing in artificial intelligence and machine learning to further improve its offerings. By broadening its international presence and aiming to grow its customer base, NetSuite is well-positioned to continue its success as a leading ERP platform.
Conclusion
In conclusion, Acumatica and NetSuite are both leading ERP providers that offer robust solutions with unique strengths and weaknesses. The best choice for your business will depend on your specific needs and requirements, such as size, industry, and growth potential.
Here are some factors to consider when choosing between Acumatica and NetSuite:
Pricing: Acumatica offers a flexible “Pay You Use” pricing model, while NetSuite offers a per-user pricing model.
Features: Both systems offer essential ERP capabilities, but NetSuite has a wider range of features, including more advanced inventory management and CRM capabilities.
Integration capabilities: Both systems offer robust integration capabilities, but NetSuite has a wider range of integration partners.
Customer support: NetSuite has been noted to provide superior customer support and resources compared to Acumatica.
Ultimately, the best way to determine which ERP system is right for your business is to speak with an ERP consultant who can help you assess your specific needs and requirements.
The best fit: Acumatica or NetSuite?
Here is a more detailed look at how Acumatica and NetSuite might be a good fit for different types of businesses:
Small to mid-sized businesses: Acumatica’s flexible pricing model and tailored solutions may be a good fit for small to mid-sized businesses with more limited budgets or resource needs.
Larger international organizations: NetSuite’s per-user pricing model and a wider range of features may be a good fit for larger international organizations or those with more complex requirements.
Factors for businesses to Consider
Here are some additional factors that businesses should consider when choosing between Acumatica and NetSuite:
Industry: Both Acumatica and NetSuite offer industry-specific solutions. Find the best fit for your organization.
Technical expertise: How much ERP expertise do you have internally? Are you planning to implement everything yourself or looking to hire ERP consultants?
Growth potential: How fast are you growing? How many Cloud ERP users are you planning to add in the future? Will you have significant business changes in the near future (new entities, international requirements etc.)?
To find the best fit between Acumatica and NetSuite, consider the factors listed above. If you have any questions or need help making a decision, please don’t hesitate to contact us. We’d be happy to help you find the right solution for your business.
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