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Intacct vs NetSuite: Which ERP Should You Pick?
Finding your preferences is the first step in comparing Sage Intacct with NetSuite. Are you searching for a fully connected set of apps to run and expand your business, or do you wish to build and integrate a few systems based on departmental preferences? Which platform you should think about choosing will mostly depend on these factors.
We'll examine both NetSuite and Sage Intacct in this blog article to assist you in determining which is ideal for your startup. You can learn more about the similarities and differences between these two common solutions as you read on.
Dive Into NetSuite
With a single database and a modern accounting system, NetSuite ERP software enables businesses to expand, become more complicated, and control essential business activities. NetSuite is designed to scale up with expanding businesses. For essential business operations, NetSuite eliminates the need for different apps and easily links information from all areas of the company into a single, unified source.
A dedicated team is available from NetSuite to handle the accounts of NetSuite users from the beginning through implementation, go-live, and beyond. NetSuite has a track record for growth. NetSuite clients always have the most recent version with instant features and updated functionality thanks to the two planned updates per year.
A Closer Look at Sage Intacct
One of the top providers of accounting software solution competing with NetSuite is Intacct. Sage Intacct is primarily an accounting solution, but when it comes to software development, Sage Intacct is regarded as the best in its tier. Its architecture makes it easy to interface with a wide variety of applications and software. It is the greatest option for any upgrade as and when the business deems it necessary due to the easier integration.
With an additional charge, more functionality is provided in a modular fashion. The majority of Intacct's experience is in small and outsourced accounting operations. It also provides some customer assistance and has a slightly limited presence with mid-sized and international businesses.
Even though some components of the system use legacy architecture and include different sub-ledgers for accounts receivable and payable, Intacct portrays itself as a modern system and targets clients of all sizes. To even come close to what NetSuite ERP offers out of the box, Intacct's accounting system needs a number of linked applications.
Comparing Intacct vs NetSuite
Both pieces of software are cloud-based ERP systems. It uses multi-tenant software and is implemented as a SaaS. Companies that specialize in ERP development typically manage both database and software development in-house.
The primary distinction between the two derives from the ecosystem's basic operation. The best word to describe NetSuite is clockwork. The majority of processes are automated thanks to software designed specifically to operate businesses. That is to say, it provides organizational development services in addition to NetSuite accounting solutions.
When compared to Sage ERP systems, NetSuite provides a wider range of services. Offering complete accounting solutions to businesses was the core tenet of the development of Intacct. Its fundamental business concept is financial functionality, and the add-on modules provide additional ERP-based solutions. One must be aware as a user that the powerful NetSuite platform outperforms Intacct's add-ons in terms of functionality.
Oracle Netsuite is intended to be an all-inclusive, single solution with accounting, customer relationship management, and ERP functions. For businesses wishing to enhance their whole technological platform, providing generalist capabilities in a standardized style and streamlined system might be beneficial.
As a best-of-breed accounting system that can interact with many other ERP and CRM solutions currently on the market, Sage Intacct adopted a distinct strategy. The Sage system has molded itself to be further tailored for a specific business and includes comprehensive accounting skills such as managing allocations, fixed assets, and consolidations.
However, both of the solutions cater to the mid-market area and offer more sophisticated capabilities than basic accounting programs like QuickBooks. Both offer crucial components for businesses with more complex organizational needs, global requirements, and a range of reporting requirements.
Both are cloud-based solutions that may be implemented without internal data center space or IT resources. With today's remote work environment and global workforce, cloud software makes it possible for all of your employees to quickly access the systems from anywhere.
Both Sage and Oracle place a high priority on security, aiming to make sure that the data of their clients are protected and stored safely in a time when cybercrime is becoming a bigger threat to businesses.
While Intacct uses the Oracle databases in the US, as well as in a data center situated in Dublin for UK customers, NetSuite hosts its software in multiple Oracle Cloud Infrastructure data centers across the world.
In order for the customer to eventually use the service, the licensing and deployment approach of both software implementations differs. While NetSuite requires comprehensive knowledge of your business to set up the services, Intacct Implementation is simple and time-bound without any lengthy discussions.
Both NetSuite and Intacct provide installation services and a network of partners that can put the solution in place. But NetSuite has its own tried-and-true methodology dubbed SuiteSuccess that prioritizes the customer's industry. When compared to the conventional approach to ERP adoption, this methodology has been demonstrated to be far faster and more effective. All of NetSuite's partners receive training on this process.
Every Sage Intacct implementation technique is based on whatever partner implements it since there is nothing comparable to SuiteSuccess in Sage Intacct.
As an all-inclusive enterprise solution, NetSuite is more expensive because a sizable upfront investment is needed. It covers a wider area and offers corporate-wide technological capabilities. Because it offers a specialized capability that can be scaled as the business grows, Sage Intacct is less expensive. As opposed to being concentrated during the initial setup, the costs will be spread out more over time.
Businesses might wish to think about the industries that each solution excels in. Sage Intacct commonly supports the following industries: software, construction, real estate, professional services, and financial services.
In contrast, Oracle NetSuite often works with the majority of the industries that Sage also supports, in addition to retail and e-commerce, manufacturing, restaurants, hospitality, advertising, and media.
The Sage Intacct customer care hours have a set time available if you are a mid-sized business that operates mostly in the United States. In addition to hosting a user community where people may assist one another with problems, the group is exploring ways to increase customer support hours in the future.
Meanwhile, Oracle's NetSuite's 24-hour assistance and quality technical services, which is available seven days a week, has a global range and caters to multiple countries. In addition to a self-serve knowledge base, a dedicated customer care manager, and a user community, customers can select between basic, premium, or advanced service.
While there are some similarities between the financial management tools, NetSuite has a far greater capability for report generation and real-time data viewing. Intacct's license architecture is fairly intricate, but nowhere near NetSuite's capabilities. To integrate features like tax compliance and advanced reporting capabilities, Intacct requires additional modules.
NetSuite offers its own selection of CRM solutions for customers to use. Salesforce is pre-built into it as a CRM software, removing the need for lengthy and complicated integration processes.
Although it can be linked with Salesforce, Intacct lacks any native modules. You will have to purchase a separate module in order to integrate CRM software into the Intacct platform.
These two accounting modules differ greatly. Real-time data input is used by NetSuite, whereas batch-based entry is used by Intacct at the sub-ledger level. Intacct benefits greatly from this because errors are prevented at the source. The batch accounting procedure transmits the data from the journal to the ledger and subsequently to the financial system in a sequence. It also prevents even a small inaccuracy.
However, because the data is in the sub-ledger, you won't be able to see it in real-time, unlike with NetSuite Accounting software. Additionally, the sub-ledger becomes locked as soon as you generate a report from Intacct. Processes for creating reports are impacted by this.
In order to maximize your ROI, NetSuite was designed to be simple to use right out of the box. From the very beginning, NetSuite is pre-configured with reports, real-time dashboards, alarms, and KPIs for your particular needs. With NetSuite's user-friendly SuiteSuccess solution, every member of your team can get started right away regardless of their job function.
For the purpose of creating and customizing an efficient package for a company's use, Intacct depends on its implementation partners. Dashboards and other graphics presented during the first sales cycle are simply offered as recommendations for your finished product and are entirely dependent on the partner implementing them.
Intacct boldly promotes the fact that its highly adjustable features may be modified to match your unique business needs. But the costs are calculated separately and are usually really high.
Sage clients must request upgrades, but NetSuite offers smooth, automatic upgrades twice a year, ensuring that all customers are using the most recent version. Depending on the level of customization, Intacct upgrades have been known to cost as much as $100,000. They require PS support to ensure that their changes transfer to the new version. Additionally, customers must select from a range of hosting alternatives, such as those provided by partners, managed by Sage, and hosted on AWS. Only the hosting options for a single tenant are available on the market.
Scalability of processes
The most reliable partner for growth is considered to be NetSuite. You get a head start on growing your company with SuiteSuccess if you use NetSuite. Industry-specific best practices are provided by NetSuite to reduce risks and hasten ROI. Sage, on the other hand, builds software using the traditional SaaS methodology. Sage's downside is that it lacks NetSuite's level of flexibility, therefore larger businesses may find certain of its features to be quite constrained.
Summary of the Intacct vs NetSuite Comparison
After going through the features and offerings of both NetSuite and Intacct, let's summarize it in an easy-to-digest overview.
They are both mid-market cloud-based management systems, which is where NetSuite and Intacct most resemble one another. The key advantage of a cloud-based solution is that you can use it from anywhere at any time and it requires fewer internal IT resources. When software is "cloud-based," this simply means that data is stored in the cloud rather than on servers your firm must maintain physically on site.
The fact that both NetSuite and Intacct are mid-market systems capable of handling more complex company requirements and processes is their second key similarity. Both of them represent a significant improvement over simpler accounting programs like QuickBooks.
That's where their similarities end. Let's now go over their differences:
As was already said, NetSuite's main purpose is to serve as an ERP system. NetSuite provides the main capabilities of a CRM, PSA, eCommerce management, and HR software out of the box, in contrast to Intacct, which focuses on accounting.
As an enterprise resource planning platform, NetSuite offers built-in modules catered towards numerous business processes. These include inventory management, project accounting, human capital management, professional services automation, project management, expense management, warehouse management, order management, and other advanced functionality.
You could have to pay a little bit extra for bespoke development work throughout your NetSuite integration process depending on how complicated your business procedures are, although this isn't always the case.
Many of NetSuite's suite software features are included right away, and more integrations can be added by using SuiteScript for custom development or by integrating SuiteApp.
On the other hand, Intacct falls short in this area. Due to the fact that Intacct is only an accounting software, businesses must rely on third-party interfaces and consultants to tailor the program to meet their demands for features like marketing campaigns, CRM, HR, and supply chain management.
Additionally, Intacct won't be able to meet your needs if you work for a huge organization with numerous entities or own a corporation that isn't situated in the United States. The fact that NetSuite is a worldwide corporation with assistance that goes well beyond American boundaries is a significant advantage. For users outside of the United States, Intacct falls short.
In terms of pricing, although it's generally believed that Intacct pricing is a little lower than NetSuite's, it's difficult to determine for sure because there are so many variables that influence pricing. For instance, you have to consider potential customization requirements, development costs, integration fees, appropriate training, and ongoing support when figuring out the cost of NetSuite.
Similarly, you can use Intacct as it is if all you need is accounting software. However, the expenses might start to mount quickly if you require additional connectors or access for a sizable user base or numerous corporate organizations.
In the end, selecting between Intacct and NetSuite means deciding between a cloud software suite or a program specifically designed for accounting.
If you're still unsure about what software is appropriate for your company, getting an expert's opinion can help kick things off. SUEG is dedicated to helping businesses reach their full potential. Click here to learn more about the services we offer and how we can help you.
If you've read this article and are curious about NetSuite, schedule a consultation with one of our knowledgeable consultants so we can demonstrate how it can advance your company.