NetSuite ERP vs. Epicor: ERP Comparison Series
Finding the right Enterprise Resource Planning (ERP) tool can be difficult, as there are many options at many price points. We offer a comprehensive comparison guide of the top ERP options, but if you’ve narrowed your options down to NetSuite and Epicor, this blog is for you. Continue reading to find out why NetSuite is the ideal choice compared to Epicor.
NetSuite is a cloud-based ERP system that offers a wide range of features and benefits. These include revenue recognition, subscription management, financial management, inventory management, eCommerce capabilities, and Customer Experience Management (CRM). NetSuite provides a comprehensive and scalable solution for modern businesses.
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NetSuite and Epicor: What Is It?
Wondering what an ERP is and what it can do? Check out our NetSuite: What Is It? video series to learn more.
At a glance, NetSuite is a cloud-based system that offers end-to-end solutions for businesses of all sizes. It includes features such as financial, inventory and supply chain management, customer relationship management (CRM), and eCommerce capabilities. Epicor is an on-premises ERP system that offers similar features.
Here’s a high-level look at both ERPs’ general structure:
NetSuite vs Epicor: Cloud-Based Architecture or On-Premise?
One of the significant advantages of NetSuite and Epicor is their cloud-based architecture. They allow businesses to access their data from anywhere, at any time, with just an internet connection. This flexibility enables employees to work remotely or on the go, making it easier to manage and collaborate with teams across different locations. Epicor also provides an on-premise solution as well; however, on-premise systems require businesses to maintain their servers, which can be costly and time-consuming.
Although an on-premise solution could offer more security, you can rest assured knowing that NetSuite’s cybersecurity offerings are top of their class.
NetSuite vs Epicor: Comparing Features and Benefits
While Epicor is a capable ERP system, NetSuite offers significant advantages in terms of cloud-based architecture, scalability, comprehensive suite of features, CRM capabilities, and eCommerce capabilities, all within a user-friendly interface.
If you are running a small business and you are looking for an ERP that you can carry with you as your business scales up, NetSuite offers a robust and flexible platform that can grow with your business needs.
Here is a comparison of the major features and benefits of both NetSuite and Epicor
NetSuite is designed to grow with your business, making it easy to add or remove users and functionalities as needed. This scalability allows you to start with a smaller package and expand as your business needs evolve. On the other hand, Epicor can be more challenging to scale as it requires significant investment in hardware and infrastructure to support growth.
Comprehensive Suite of Features
With NetSuite, businesses have access to a wide range of capabilities, including financial management, order management, supply chain management, inventory management, and CRM. This all-in-one platform allows businesses to manage all aspects of their operations efficiently. In contrast, Epicor may require additional modules to achieve the same level of functionality, which can increase costs and complexity.
Although NetSuite also offers extra modules and add-ons, their out-of-the-box offerings are tailored to be vertical-specific. If you operate a retail business, NetSuite’s Retail Cloud Service will provide everything you need to get started.
NetSuite's CRM is fully integrated with its financial, inventory, and supply chain management modules, providing businesses with a seamless and efficient customer experience. This integration allows businesses to manage all customer interactions and transactions from a single platform. Epicor's CRM, on the other hand, may require additional integration efforts to match NetSuite’s comprehensive solution.
NetSuite also excels in eCommerce capabilities. Businesses can easily set up an online storefront and manage their entire eCommerce operation from a single platform, including inventory management, order fulfillment, and payment processing. On the other hand, Epicor may require businesses to purchase additional modules or integrate with third-party eCommerce solutions.
NetSuite's user interface is modern and intuitive, making it easy for businesses to adopt and use the platform. On the other hand, Epicor's interface may require some training and customization to achieve the same level of usability, which can add additional time and effort.
NetSuite also offers comprehensive training and certifications that can help maximize your business’ investment.
NetSuite vs Epicor: Functional Comparison
Although we can compare systems by their features, it’s their target industries that set them apart.
This is where things become a bit more complex. Both systems are equal in their capacity to fulfill the needs of most industries. When it comes to software and subscription, and complex manufacturing, however, each ERP offers a very specific specialization over the other.
If your business operates with complex manufacturing practices, then Epicor is the solution for you.
However, if you operate a software or subscription company, NetSuite is best. Here are some of the key benefits that NetSuite can provide Subscription and Software businesses, that Epicor cannot:
NetSuite's robust revenue recognition capabilities are among the most advantageous features for software and subscription organizations. Software licenses, subscriptions, and professional services are just a few of the different income sources that the system is capable of recognizing. Additionally, it is capable of supporting complicated revenue recognition scenarios, including revenue sharing, multi-element contracts, and delayed revenue recognition.
Businesses can manage and automate subscription billing, invoicing, and renewals with ease thanks to NetSuite's robust subscription management features. It can also manage intricate subscription models, including add-ons, tiered pricing, and usage-based charging.
Software and subscription firms can better manage their finances thanks to NetSuite's financial management features. It has capabilities including general ledger, cash management, accounts payable and receivable, and financial reporting. Businesses may streamline their accounting procedures and gain more visibility into their financial data with NetSuite.
NetSuite's inventory management features might be particularly useful for software companies that sell physical products. The solution offers organizations real-time visibility into inventory levels, enabling them to improve inventory management and cut costs associated with carrying inventory. Additionally, it has capabilities like order fulfillment, bin management, and lot and serial number tracking.
Software and subscription firms can sell their goods and services online thanks to NetSuite's eCommerce features. The system has features including consumer self-service portals, secure payment processing, and connectivity with shopping carts. Businesses can simply manage their eCommerce operations with NetSuite, and they can give their customers a flawless online buying experience.
Businesses may manage their client interactions more efficiently because to NetSuite's CRM capabilities. It has features like marketing automation, customer care and support, and lead and opportunity management. Businesses may get a complete picture of their clients with NetSuite, which allows them to offer a customized experience.
Reporting and Analytics
With the help of NetSuite's robust reporting and analytics tools, businesses can better understand their operations and take data-driven choices. The solution allows for the creation of bespoke reports as well as pre-built dashboards and reports. Additionally, it has advanced analytics tools including machine learning, data visualization, and predictive analytics.
If you want to streamline your business operations, improve customer experiences, and achieve scalable growth, choose NetSuite as your ERP system. If you’d like to know which NetSuite package is right for you, fill out our free Pricer and receive a personalized NetSuite price range in under an hour.
Contact us today to learn more about how NetSuite can benefit your business.