The analysis between two cloud-based enterprise resource planning (ERP) systems begins with NetSuite ERP and Sage Intacct. Two similar, yet very contrasting software solutions that are easier to differentiate than other competing ERPs in the technology industry.
At its core NetSuite was designed to fill the gap of, well, an entire business. While a financial management solution at its base, it also offers advanced modules for transformative operations including CRM, manufacturing, eCommerce, and payroll.
Whereas Intacct was built to handle complex accounting and finance challenges. That being said, there are opportunities to expand with add-on applications, however, these can often come with certain limitations.
Both ERP software are Saas (software-as-a-service) platforms that are deployed on the cloud, with their own database and data center.
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In terms of licensing Intacct does have a lower price-tag attached to it, but users must remember that additional charges will incur with subsidiaries, reporting, and customizations.
NetSuite’s SuiteSuccess establishes a fixed-budget and fast implementation thanks to its preconfigured solution, but will still inherit native capabilities like accounting, reporting, CRM, and PSA (professional services automation).
NetSuite and Intacct: Features and Functionalities
A deep dive into the features and functionalities will provide you with an in-depth understanding of the two types of accounting software.
Both NetSuite and Intacct are solid competitors when it comes to financial processes. They both offer: general ledger, cash management, fixed assets management, multi-currency, global tax management, financial planning, and a lot more.
However, where NetSuite outshines is ensuring that basic accounting features are included, whereas Intacct requires users to purchase additional modules to access advanced reporting and value-added tax (VAT) compliance.
For companies looking to scale, without feeling hindered, it’s important to have an ERP that will provide cost-effective solutions throughout the journey.
NetSuite’s OneWorld module is for those with expansion plans that extend internationally. An out-of-the-box solution, it supports 27 languages, over 190 currencies, transactions in more than 90 bank formats, and tax standards from 100 countries.
It’s an ERP solution that continues to acquire customers from more than 200 countries.
Global organizations that have multiple subsidiaries across the world enjoy multi-currency consolidations, meaning there is no siloed process between the subsidiary and parent company.
Business performance continues to excel no matter the location. And NetSuite pricing doesn’t increase with more subsidiaries or customized reports.
Global operations is slightly trickier with Intacct as it does not support any language capabilities other than English. Additionally, multi-subsidiary consolidation can be challenging since they require separate modules to connect properly.
In order to get real-time visibility on different subsidiaries, users must subscribe to Intacct’s different platform services to run specified reports on each subsidiary.
For business processes that expand across regions, this additional step can get convoluted and lost in translation, establishing problematic situations internally and externally.
Companies that have no intention of moving beyond their single business, this is no issue. On the other hand, if expansion is on the horizon, NetSuite is the right choice to implement and gain the upper hand.
Customer Relationship Management (CRM)
NetSuite will take the lead on this feature as Intacct does not have a CRM. It does, however, integrate with Salesforce.
NetSuite’s native CRM system is built-in and generates real-time data for billing and inventory.
Departments across the enterprise ecosystem - marketing, sales, customer service - can access all the vital information needed to leverage external facing leads, prospects, and clients.
NetSuite’s integration to Salesforce is also available to users who need both systems. Rest assured, data from both CRM’s are available in NetSuite’s hub, facilitating reports and dashboards.
Even if your company has been functioning without a CRM, choosing NetSuite for its CRM capabilities is not a bad idea. As businesses grow, they tend to add more products and services, which would need an embedded CRM to benefit from proper communication and profitability.
Professional Services Automation (PSA)
For professional services firms, NetSuite’s robust SuiteProjects is a complete PSA solution with billing, project and resource management, with both timesheet and expense management.
Project managers only need to focus on one dashboard that provides a bird’s eye view of KPIs, project performance, and progress. Knowing that all critical information is located in one place mitigates risk and boosts results.
Intacct PSA functionalities include similar features, however, it is not as fully developed as SuiteProjects. The main difference is that Intacct offers up five reports to analyze whereas NetSuite has more than 20.
A proper PSA functionality is necessary for companies who have intangible assets and rely solely on providing a complete, yet satisfactory service. As project managers engage with clients on a daily basis they can’t be sidetracked with multiple systems.
They need the all-in-one module, without restrictions.
Business intelligence is becoming increasingly popular among companies who rely heavily on accurate data. In an ever-changing landscape, proper data is the only way to make informed decisions.
NetSuite’s business intelligence and analytics capabilities lie within reports and dashboards as well as products. The use of Saved Searches are what users access to gain information from anywhere: finance, supply chain, CRM, HR, inventory, etc.
NetSuite’s Data Warehouse is a product that consolidates data from NetSuite and stores it within a data warehouse. Companies who have yet to make the step to BI can safely rely on Excel and Google spreadsheets to pull information from NetSuite onto colorful charts.
Intacct reports do combine both operational and financial data, but an extra charge looms behind. Intacct’s architecture struggles to separate data tables, which means customers usually have to shop for an external program to access more functionalities.
As BI continues to advance in the technology world, the opportunity to incorporate data and reporting features is essential to growth. NetSuite not only has their own product but has a marketplace with access to third-party products and services for growing BI tools.
Pros and Cons: Intacct or NetSuite?
- Customizable with complete access to a multitude of integrations
- Custom workflows that automate accounting tasks
- Full-fledged payroll module
- Effortlessly search across the system
- Generate reports with the snap of a finger
- A generous amount of packages to choose from for industry-specific requirements and business objectives
- No need to ever switch systems, it’s 100% scalable
- A clunky search function
- Training is necessary to access NetSuite to its full extent
- Automates even the most basic accounting functionalities
- Simple to navigate
- Customized process flowcharts
- Easily handle GAAP, reporting, and TAX books
- Available on any internet browser
- Lacks proper modules for payroll and CRM
- Need to familiarize with unconventional chart of accounts
Intacct is, at its center, a financial and accounting software that has yet to migrate out of the box. Ideal for small businesses looking for accounting software, but nothing else, it’s the right choice. However, it’s important to note that should your company start to grow, foresee the need to once again shop around for another ERP solution.
NetSuite is a top choice for organizations of all sizes and industries that want a solution for all their aches and pains. Not only will it solve those pesky backend challenges, but you can customize the solution to fit your needs.
It’s an ERP solution that will be with you for life thanks to its add-ons, customizations, and constant revamping.