This article is relevant to those considering moving away from QuickBooks and would like a NetSuite vs. QuickBooks comparison.
Are you a QuickBooks user struggling to keep up with the demands and complexities of your growing business? Have you ever considered switching to NetSuite?
As your business expands, so does the complexity of your accounting and operational needs. QuickBooks may have been a suitable solution when you were starting, but as your business grows, you may find yourself reaching the limitations of the software.
In this blog post, we will explore why QuickBooks users switch to NetSuite and how NetSuite can help you manage your financials, inventory, e-commerce, and other business needs more effectively.
The Quick Comparison
QuickBooks and NetSuite are popular accounting software millions of businesses use worldwide. QuickBooks is a popular choice for small businesses due to its user-friendly interface, affordability, and ease of use. On the other hand, NetSuite is designed for all business sizes, offering a more comprehensive range of features to handle complexities and greater scalability.
Consequently, businesses may outgrow QuickBooks and need a more advanced accounting solution.
To illustrate some of the main differences between QuickBooks and NetSuite, we have created a chart.
| Features | QuickBooks | NetSuite |
|---|---|---|
| Accounting | Basic accounting features plus limited commerce management, payroll, and invoicing. | Offers a comprehensive range of advanced financial management features plus multi-currency and multi-language, multi-company, advanced financial reporting, subscription billing, forecasting and budgeting, and more. |
| Inventory management | Limited inventory management features, such as product tracking. | Advanced inventory management features such as supply chain management, procurement, and warehouse management. |
| Business size | Suitable for small businesses without complexities. | All business sizes. Has the ability to handle complex operations. |
| Functionality | Offers basic accounting and inventory management functionality | Best-in-class cloud-based ERP that offers total business advanced solutions for financial management, inventory management, customer relationship management, supply chain management, and e-commerce, to name a few. |
| Scalability and customization | Although QuickBooks Online Advanced may be customized to handle the needs of larger or more complex organizations, it will require the use of third-party applications, which means more costs. | With NetSuite’s module-based architecture, you can tailor your ERP solution to your business requirements without the need for external applications. It is fully customizable. |
Switching from QuickBooks to NetSuite can save money and increase productivity for businesses.
NetSuite is a comprehensive enterprise resource planning (ERP) product. QuickBooks is not.
An ERP allows businesses to manage most of their operations using one platform. This provides streamlined operations, easy employee cross-training, and cost savings in both software subscription costs and efficiency costs.
NetSuite has several important-to-note advantages over QuickBooks Online Advanced.
The NetSuite ERP software offers modules for various business operations as a fully integrated, modular platform.
Firstly, the financial management module provides real-time visibility into your business’s financial performance. You can run your entire accounting department with this module, and it will ensure compliance with current and emerging regulations.
Secondly are the inventory, warehouse, and supply chain management modules. You can see inventory levels across all locations and channels. Furthermore, you will know when you need to replenish inventory and schedule physical inventory counts. This management module is critical to your business’s profitability. The warehouse and supply chain management are their own modules giving you that unique level of oversight over your business.
Thirdly, the order management module allows your sales and order fulfillment teams to manage the customer sales relationship without revealing any sensitive data. This module removes pricing and sales issues from your accounting team’s plate.
NetSuite IncludesCustomizable User Permissions
In addition to its comprehensive platform, NetSuite allows you to create roles for each employee and customize permissions for those roles. This provides you with more control over your business’s important information, guarding it against unauthorized access.
Role-Based Dashboards
Furthermore, NetSuite provides custom dashboards for each role in your business. These dashboards highlight the key performance indicators relevant to that role and a simple reminder list to help keep your team on task. Subsequently, this ensures that each employee knows what their priorities are and reduces the likelihood of confusion and mistakes.
Seamless Communication Between Modules
Finally, NetSuite’s modules communicate seamlessly with each other, eliminating the need for duplicate data entry and back-end synchronizations. This reduces inefficiencies and costly errors, ensuring that your business runs smoothly.
NetSuite vs QuickBooks Final Thoughts
We hope you enjoyed the Oracle NetSuite vs QuickBooks breakdown! Our objective is to empower your business with the best solutions for your unique requirements. As always, we offer a free 2-hour consult to ensure we get it right and are the perfect solution to your challenges.
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