Organizations today demand financial management solutions that are flexible enough to accommodate dynamically changing business needs. NetSuite is the world's #1 cloud ERP solution, enabling organizations to manage IT costs, optimize accounting efficiency, streamline order management and procurement processes, eliminate manually-intensive spreadsheet-based reporting, and improve employee productivity.
In 2005, we selected NetSuite between 10 different solution providers in an RFP process. In the final selection process, NetSuite won the final stage in the customer references were they were able to providing raving fans while the competitors were not able to.
Over the past 8 years, our company has grown significantly and we have had to change nearly all of our processes to serve our customers. The key value of NetSuite has been the ability to make continuous improvements with the system as our company changes. Today, we use NetSuite for the sales force and customer service groups, manufacturing and distributing through our warehouses, traditional ERP and finally technical support. We have also been able to make most of these changes with internal staff.
We have found that the total cost of ownership is significantly less for dynamic companies. We do not buy servers anymore and we have been able to keep our IT staff low despite our growth. Our IT staff have become business process improvement managers where they can add value to the company versus the traditional role of maintaining database servers.
The cloud-based solution is outstanding for organizations with personnel in multiple locations domestically or abroad with the continuous availability to current data.
I would recommend NetSuite for dynamic and growing companies. We plan to continue to use NetSuite for the foreseeable future.
What I liked most
Basic accuracy
What I liked least:
Software engineers had been allowed to program in (hard code) financial ratios for the KPI's, and the ratios are not correct. The manufacturing bills of materials are very basic and can not be effectively used in developing EOQ's and managing inventory parts levels easily.
They promise the moon and deliver far less when it comes to enhancements. Requesting a change will be ignored unless it is very easy. I understand that this software is very good for a software company. Do not count on it working well with complex multi-layered, multi-step manufacturing.
Overall, NetSuite is a very good product in China for SMBs, especially those doing business internationally and experiencing rapid growth.
The system is quite flexible and can do many things that others cannot, although it does require you to have someone with experience in their customized programming language to get very automated/advanced.
NetSuite has helped a lot of Chinese companies go international very easily and cost-effectively, because only a new username/password is required. Also, many other "homemade" systems we have seen are slower, especially within China, and less stable/resilient.
Cons are there however, and for China, that means localization issues. Financial reporting to the government is not something that is easily customized, and can require use of a small, inexpensive Chinese system that needs to be integrated. It is still worth it to do this, but it isn't ideal.
The e-commerce area of NetSuite fails quite largely in the area of Alibaba - there is no integration here with Alibaba. Because most people in China use that, clients either have to do a sort of manual/semi-automatic process to reconcile Alibaba payments, or they need to use another system altogether. Trigger Networks is currently working on this issue.