Hello, I was wondering if anyone in Technology/Software Industry has implemented a new accounting system recently. My company is hoping to move on from QuickBooks due to our need for a new software that can consolidated including foreign entities and currencies, SalesForce integration, and revenue recognition according to ASC 606 a top priority. So far, we have looked into Dynamics GP, 365, NetSuite, Acumatica, Sage Intacct, and SAP Business One. They all seem to be able to perform what we need. The pricing varies with NetSuite and Sage Intacct at the highest, Acumatica and SAP in the middle, and Dynamics the cheapest. Has anyone used the mentioned products in the same capacity as noted? any thoughts or comments into implementation and overall customers service and usability would be appreciated. Thank you
ERP/Accounting Software Search
We've been looking at this topic for a *long* time.
Yes, I've actually played with all of those save Acumatica, and they can do the job. I would add Dynamics NAV to the list, as IMHO it is a better product for this purpose than GP, but that is personal bias.
Before you pull the "tier 2" trigger (eg full mid-cap ERP), consider your size and that there are other options:
External consolidations tool. There are several of these, and they have the benefits of being robust, and don't require all of your subs to migrate to the same system. Compared to a tier 2 ERP, the $ savings can easily reach 6 figures on the build, and potentially on annual license/maint fees. The drawback of this is it isn't live, in the way an ERP can be. However, if you're not running live at the moment, getting to that point is not an immediate thing, and this can be an effective path. Finally, this doesn't require process unification. That alone will cost you (potentially) person-years of effort, depending on your size and complexity.
Odoo. It is open source, so there are about a million add-ins. It competes directly with the ERPs, but like the ERPs, it works better in some regions than others. We've had a sub on it for 3 years, and it is quite reliable (and way better than quickbooks).
Finally, if you haven't, do a survey. I don't know where your subs are, but this is material. Pretty much every developed country (other than the US) requires government-systems integration. Each ERP is strong in some countries, weak in others. It may well be that NetSuite will address 80% of your geographies, and that for the remainder you'll need to run dual-systems. You may find that your subs have very strong opinions about some of these packages.
Whatever you choose, stay away from an on-prem installation. Integrating to Salesforce and other programs is much easier if you are on a cloud based tool. I would stay away from GP because that is turning into D365.