What is NetSuite?
NetSuite is a suite of cloud-based business management software owned by Oracle Corporation. It offers a range of modules that can be used to manage various aspects of a business, including financials, inventory management, purchasing, order management, and customer relationship management. NetSuite also provides features for human resources, payroll, and e-commerce.
What is Acumatica?
Acumatica is another cloud-based ERP system that offers similar functionality to NetSuite, including financial management, project accounting, distribution management, and customer management. It is designed for small and medium-sized businesses and offers a customizable interface that can be tailored to meet specific business needs.
Functionality & Modules
Both NetSuite and Acumatica are comprehensive cloud-based ERP platforms that offer a wide range of functionality and modules to help businesses manage their operations. However, there are some differences in the specific functionality and modules offered by each platform.
Functionality and Modules of NetSuite:
- Financial Management: includes general ledger, accounts payable and receivable, fixed assets, billing, and financial reporting
- Inventory Management: includes inventory control, demand planning, purchasing, and order management
- Supply Chain Management: includes procurement, order fulfillment, shipping and receiving, and demand planning
- E-commerce: includes online storefront, order management, and payment processing
- Customer Relationship Management (CRM): includes sales force automation, marketing automation, and customer service management
- Human Capital Management (HCM): includes employee self-service, payroll processing, and benefits management
- Professional Services Automation (PSA): includes project management, resource management, time and expense tracking, and billing
Functionality and Modules of Acumatica:
- Financial Management: includes general ledger, accounts payable and receivable, fixed assets, cash management, and financial reporting
- Distribution Management: includes inventory control, purchasing, order management, and warehouse management
- Manufacturing Management: includes production planning, engineering change control, and quality management
- Service Management: includes field service, contract management, and project accounting
- CRM: includes sales force automation, marketing automation, and customer service management
- Project Accounting: includes project management, resource management, time and expense tracking, and billing
- Inter-Company Accounting: includes multi-entity management, inter-company transaction processing, and consolidation
NetSuite offers a more comprehensive range of modules, including e-commerce, HCM, and PSA, which may make it a more suitable choice for businesses with specific needs in these areas. Acumatica, on the other hand, offers more specialized functionality in areas such as distribution, manufacturing, and service management, which may make it a better fit for businesses in these industries.
Industries
Both Acumatica and NetSuite are flexible and comprehensive cloud-based ERP platforms that can be suitable for various industries. However, each platform has strengths that make it more suitable for certain industries than others.
Acumatica is generally well-suited for small to mid-sized businesses in industries such as manufacturing, distribution, and services. The platform's flexible and modular architecture allows businesses to customize and configure the system to meet their specific needs. Acumatica has strong capabilities in managing supply chain operations, inventory, and financials. Additionally, the platform's open API allows for easy integration with other software systems, making it an attractive choice for businesses that need to connect with other applications and tools.
NetSuite, on the other hand, is a more mature and widely-used platform that is well-suited for mid-sized to large enterprises across various industries. The platform has a comprehensive suite of modules, including financials, inventory, supply chain, e-commerce, and CRM, making it a good fit for businesses that need a fully integrated ERP solution. NetSuite also has strong capabilities in multi-currency and multi-country operations, making it a good choice for businesses with global operations. Additionally, NetSuite has built-in analytics and reporting capabilities, which can be helpful for businesses that need to make data-driven decisions.
Ecosystem
Both the NetSuite and Acumatica ecosystems are well-established, mature, and growing. However, NetSuite has a larger ecosystem and is more widely used than Acumatica.
NetSuite was founded in 1998 and has been in the market for over two decades. It is currently used by more than 22,000 organizations across a wide range of industries and regions. NetSuite has a large and diverse partner network, including over 800 solution providers and more than 400 SuiteApp developers. NetSuite's ecosystem includes many well-established players, including global consulting firms, such as Deloitte and Accenture, and major technology vendors, such as Oracle.
Acumatica, on the other hand, was founded in 2008 and is a newer player in the market. It is currently used by over 6,500 organizations across various industries, including manufacturing, distribution, and services. Acumatica has a smaller partner network compared to NetSuite, with around 300 VARs, ISVs, and SIs. However, Acumatica has been rapidly growing its ecosystem, with a focus on developing partnerships with innovative technology companies to extend the functionality of its platform.
Overall, both ecosystems offer a wide range of resources, services, and tools to help businesses manage their operations and drive growth. However, NetSuite has a larger and more mature ecosystem, while Acumatica is growing and evolving quickly. Ultimately, the choice between these two platforms will depend on the specific needs and requirements of each business.
Maturity
NetSuite and Acumatica have different histories, with NetSuite being a more mature platform than Acumatica.
NetSuite was founded in 1998 and has been in the market for over two decades. It has a large and diverse customer base of over 22,000 organizations across a wide range of industries and regions. NetSuite has undergone multiple iterations and improvements over the years, with a focus on innovation, expansion, and scalability. NetSuite is now owned by Oracle, one of the largest technology companies in the world, which has further strengthened its position in the market.
Acumatica, on the other hand, was founded in 2008 and is a relatively newer player in the market. Acumatica has grown rapidly in recent years, with a focus on expanding its ecosystem of partners, developers, and customers. However, compared to NetSuite, Acumatica has a smaller customer base and partner network. Despite this, Acumatica has received industry recognition and awards for its innovative and flexible platform.
Overall, while both platforms offer robust and comprehensive ERP solutions, NetSuite has a longer history and a larger and more mature ecosystem than Acumatica. However, Acumatica's focus on innovation and flexibility has helped it establish a growing presence in the market, and it continues to evolve and improve.
Roadmap
NetSuite and Acumatica have technology roadmaps that focus on innovation and improvement, with a focus on delivering new features, integrations, and improvements to their platforms. However, there are some differences in the specific technologies and areas of focus for each platform.
NetSuite's technology roadmap includes several key initiatives, including:
- Investment in SuiteCloud: NetSuite's cloud development platform, with a focus on making it easier for developers to build customizations and integrations on the platform
- Investment in SuiteAnalytics: NetSuite's built-in analytics and reporting tool, with a focus on delivering new features and improvements to help businesses make data-driven decisions
- Investment in AI and Machine Learning: NetSuite is exploring the use of AI and machine learning to enhance the platform's functionality, including predictive analytics and automation of routine tasks
- Expansion of SuiteCommerce: NetSuite's e-commerce platform, with a focus on delivering new features and integrations to help businesses grow their online sales channels
- Integration with Oracle: As part of Oracle's overall strategy, NetSuite is being integrated with other Oracle technologies, such as the Oracle Autonomous Database, to further enhance its capabilities.
Acumatica's technology roadmap includes several key initiatives as well, including:
- Investment in AI and Machine Learning: Acumatica is exploring the use of AI and machine learning to enhance the platform's functionality, including predictive analytics and automation of routine tasks
- Investment in Cloud xRP: Acumatica's cloud development platform, with a focus on making it easier for developers to build customizations and integrations on the platform
- Investment in User Experience (UX): Acumatica is investing in improving the platform's user experience, including modernizing the UI and enhancing mobile capabilities
- Integration with Innovative Technologies: Acumatica is partnering with other innovative technology companies, such as Amazon Web Services, to extend the functionality of the platform and deliver new capabilities to customers.
