Intacct vs Netsuite

We are a rapidly growing in technology hardware area company, and now we are at the point where we need to transition from Quickbooks to a platform that provides more comprehensive functionality. Integrated procurement and inventory management is one of our most pressing needs. The two leading cloud accounting and financial applications, Intacct and NetSuite, they might seem to offer similar features, benefits, and even pricing. Software reviews suggest parity, but upon closer comparison, one solution emerges as the clear winner from a total cost, reporting, and productivity basis. Intacct and NetSuite are two of the more popular cloud accounting software packages on the market. Considering the wide variety of accounting products available to mid market companies, and the overwhelming amount of comparison information available online, here is a review that describes a few similarities and one big difference between these two platforms that comes from Intacct vs Netsuite.

The Overview and Benefits
Intacct is a highly efficient cloud-based accounting software created for small to medium-size businesses moving out of entry-level accounting like QuickBooks or midmarket systems such as Microsoft Dynamics GP. No. 1 spot in the accounting software category, however, is held by FreshBooks which has a score of 9.8 and has won our Best Accounting Software Award for 2016. You can try out FreshBooks for free here. You can also compare Intacct with FreshBooks and see which one is better for your company. The main purposes of Intacct to help finance professionals increase efficiency and drive growth for their organizations and help you by automating your processes to run your business better than before. Not only those things, Intacct can make confident long-term decisions and act fast to execute changes.

Founded in 1998, NetSuite was the first cloud-based ERP, and no question, has the larger installed base. As the name suggests, NetSuite is a complete suite of solutions for ERP, CRM, PSA and E-commerce. NetSuite customers can choose whatever part of the suite they need, or the entire suite. Or integrate with other solutions via third party vendors, or prepackaged connectors. Netsuite enables businesses of all sizes to reap the benefits that the cloud delivers, such as advanced functionality, reduce operational IT costs and risks, rapid deployment, speed and the agility to launch new business operations and subsidiaries quickly.

Intacct offers several unique benefits compared to its competitors: Solid Software Background, Scalable Cost and System Requirements, Wide Range of Core Accounting Capabilities, Built-in and Customizable Reports, Safe And Fast Processing, Clean And Simple Interface, and last Security and User Limitations. There are 8 benefits that you can get from Netsuite and they are : Financial Management Solution that used by thousand people around the world, Complete visibility of your supply chain with set of inventory management and manufacturing, Fast track quote-to-quote process, Streamlined fulfillment flow and keep customers happy, Accurate Revenue Recognition Management, Financial Planning Helps You Achieve GoalsOptimize Your Employees’ Capabilities, and the last Get the Most Out of Your Recurring Revenue Streams.

The Similarities
NetSuite and Intacct build themselves up as enterprise-level, cloud-based ERP systems. Versus Intacct, NetSuite built itself up much more as an “all-in-one” tool. Why? because it can take much less work to integrate other business software you may use such as Javascript for Netsuite and PHP for Intacct. Both of them also live in ‘the cloud’. The cloud itself is no files to worry about on your internal server and your IT department will not have to help with implementation. The other meanings also showing that both in-office and remote users can access financial data everywhere. How about the functionality? It has the similarities too especially on providing more advanced than small business accounting systems like QuickBooks or Sage 50. The features also critically for business with complex organizational structures, locations, and multi-faceted reporting needs.

The Differences
As we know that the aims of having this review is finding out the differences between two product of Intacct and Netsuite. We will start from the offerings. Intacct offers a unique multi-dimensional GL architecture whereby all transactions and data are recorded with the business contexts important to you and Intacct has a solutions for having dimension-driven reporting and visualization capabilities, you can quickly understand performance by key business drivers. While NetSuite is limited the reporting architecture makes achieving this level of visibility impossible without relying on secondary reporting tools or scripted customization.

And the differences also comes from its philosophical where Netsuite is a complete one with all-in-one software suite that includes customer relationship, enterprise resource planning and accounting modules. Intacct, on the other hand, is a stand-alone, best-of-breed cloud accounting system. Intacct integrates with a wide range of other software applications, including some of the most popular CRM and ERP systems on the market. In comparison to NetSuite, Intaact is used slightly more by mid-level and small businesses (27 percent small businesses according to G2 Crowd). Although Intaact is utilized heavily by the mid-tier, it is a great cloud option in delivering scalable accounting that can streamline your entire process. For a full comparison including pricing, download our comparison guide. As you can see, NetSuite’s dashboard is graphically similar to Intacct (pictured below), and both allow for dashlet customization.

- Intacct integrates with out of the box- Netsuite competes with
- Intacct integrates with Concur and DataBasics- Netsuite has a basic employee expense module
- Intacct reinvests 100% of its R&D spending into core accounting- Netsuite shares its R&D across its other non-accounting applications

Intacct vs Netsuite
The decision you make on which ERP software to choose should be based on qualities such as proven effectiveness as well as the software capabilities. NetSuite ERP offers some clear advantages in the form of a more mature platform, deeper integration and a lighter learning curve.While with Intacct, you gain the advantages of a powerful accounting system that integrates seamlessly with other “best of breed” platforms. This means each department within your organization has the flexibility to choose the perfect tool for their own unique needs.

Leave a Reply

Your email address will not be published. Required fields are marked *