When it comes to evaluating the choice between “Sage Intacct vs NetSuite”, understanding the fundamental differences is crucial for your business. Both of these cloud-based enterprise resource planning (ERP) systems are recognized for their financial management capabilities and operate under the multi-tenant, software-as-a-service (SaaS) model.
However, the primary differentiation between NetSuite and Intacct lies in their fundamental approaches. In this blog, we’ll explore these differences and offer crucial insights to aid you in making an informed choice that aligns with your specific business needs.
In this blog, we will explore:
- NetSuite vs. Sage Intacct: Overview
- Product Development and History
- NetSuite or Sage Intacct: Features Comparison
- Sage Intacct vs NetSuite: Pricing and ROI
- Final Verdict: Which Solution is Right for You?
NetSuite vs. Sage Intacct: Overview
Oracle NetSuite offers a suite of applications that bundle a wide array of modules, including ERP, customer relationship management (CRM), human capital management (HCM), supply chain, procurement, billing, accounting modules and more in a single package. Because it is a comprehensive solution for managing various aspects of a business under one umbrella, it caters to businesses of all sizes, from small enterprises to large corporations.
In opposition, Sage Intacct is a standalone cloud accounting system that can integrate with a wide range of other software applications, including some of the most widely used CRM and ERP systems on the market. It is a cloud-based financial management and accounting solution focusing on smaller to mid-sized businesses. Unlike NetSuite, it offers a more streamlined approach, ideal for companies looking to optimize their accounting and financial reports and operations without the complexity of larger ERP systems.
Product Development and History
NetSuite, founded in 1998 by Evan Goldberg and Larry Ellison, emerged as a pioneer in the SaaS sector, originally stemming from Goldberg’s quest for a unified system. It went public in 2007, and in 2016, was acquired by Oracle for $9.3 billion. Nowadays, NetSuite operates as a distinct unit within Oracle, utilizing Oracle’s resources to expand internationally and establish new data centers.
Sage Intacct, founded in 1999 by David Chandler Thomas and Odysseas Tsatalos, specializes in accounting solutions for small and midsize businesses. While it secured multiple rounds of venture funding, it never pursued an IPO. In 2017, Sage Group plc acquired Intacct for $850 million, strategically expanding Sage’s reach beyond on-premises accounting systems in the UK and providing a competitive cloud offering, especially in the United States.
NetSuite or Sage Intacct: Features Comparison
When deciding between Sage Intacct vs NetSuite, a detailed feature comparison is a valuable starting point. Both these financial management solutions offer a range of tools and functionalities and do not require much of an internal infrastructure as they are cloud-based solutions.
As these two SaaS products exhibit variations in their core features, the suitability of one over the other may also depend on the specific industry you operate in. It’s therefore vital to align your selection with the requirements of your industry.
Intacct serves industries including financial services, healthcare, wholesale distribution, construction, real estate, professional services, and nonprofits. NetSuite is also highly effective in many of these sectors, with notable exceptions being construction, real estate, and healthcare. On the other hand, NetSuite’s functionalities are especially beneficial for industries like restaurants, media, and publishing.
To get a better idea of how each software operates, we’ll explore a few feature comparisons to help guide you in making an informed decision.
User Interface and Experience
While users can easily navigate either software platform, NetSuite offers a more intuitive user interface, as it doesn’t require multiple sets of login credentials for different functions, as is the case with Intacct. But, the overall user experience varies depending on your company’s business processes and vision.
If your company has global operations or is thinking of expanding internationally, then Sage Intacct’s functions are limited. It primarily operates in English-speaking countries, and each business entity requires you to purchase an additional license. To further complicate matters, customers must subscribe to Intacct’s customization or platform services to generate custom reports for their subsidiaries. This can impose additional costs and complexity, potentially hindering expansion into the international arena.
In contrast, NetSuite excels in providing a user-friendly and globally adaptable interface. It supports 27 languages and over 190 currencies in 200-plus countries, making it a strong choice for businesses with international operations. NetSuite’s multicurrency consolidations feature allows data aggregation from subsidiary to parent levels, streamlining financial management across regions.
Moreover, NetSuite’s superior mobility options, including a mobile app, enable users to access the system via smartphones or tablets. This facilitates offline work and provides enhanced safety and security features. Therefore, ensuring a more versatile and accessible user experience for businesses operating on a global scale.
Financial Reporting Capabilities
Sage Intacct is renowned for its robust financial management functions, encompassing general ledger, accounts payable, accounts receivable, cash management, and other core accounting operations. It also provides advanced capabilities like project accounting, consolidated reports, revenue recognition, and inventory management.
However, to access advanced features like value-added tax (VAT) compliance and enhanced reporting capabilities, Intacct users must invest in additional modules. This practice accumulates additional costs, potentially hindering a company’s growth.
NetSuite’s integrated database empowers real-time reporting and offers a comprehensive perspective on an organization’s financial performance. Additionally, its financial planning module seamlessly collaborates with other modules, equipping businesses with the capability to perform the same range of functions available in Sage Intacct.
So if your company is looking to scale and requires advanced functionalities, a comprehensive ERP solution like NetSuite ensures that the system continues to offer efficient and scalable solutions as you expand. This allows you to focus on your core objectives and development rather than being burdened by escalating software-related costs or limitations.
To customize the benefits of NetSuite to your business needs, consider leveraging the expertise of our NetSuite consultants. Let us provide valuable insights to ensure your ERP system is fully optimized to drive your business forward.
Integration and Customization Options
Sage Intacct, is limited by offering only nine dimensions, potentially restricting its ability to effectively capture and report on specific data. Because it lacks a built-in CRM system, it depends on integrations with popular platforms such as Salesforce to access its capabilities.
On the other hand, NetSuite offers an extensive array of reporting capabilities thanks to its unlimited dimensions and segments. With its built-in CRM, it provides real-time access to essential data, such as billing and inventory, enabling improved performance for sales, customer service, and marketing teams. Learn more on NetSuite vs Salesforce and find out which CRM is right for you.
Because both systems are cloud solutions, customizations automatically carry forward with each system upgrade.
Sage Intacct vs NetSuite: Pricing and ROI
Both solutions offer unique pricing models, and selecting the right one can impact the cost-effectiveness and overall ROI of your organization.
Cost Structure of Sage Intacct
The pricing model for Sage Intacct follows the industry-standard per-user/per-month approach. Contracts are usually one-year agreements that are renewed annually. It is cost-effective and is an affordable entry point, especially for growing businesses. It allows for flexibility in scaling, enabling enterprises to add users, entities, and modules as needed.
However, a unique aspect of Sage Intacct’s pricing is that it charges separately for each entity using the system, which might encompass branch offices or country-specific operations. This can potentially become expensive if your company has numerous subsidiaries or complex structures.
Cost Structure of NetSuite
On the contrary, while NetSuite requires a more substantial upfront investment, it offers a comprehensive array of functionalities. While some may not be immediately necessary, they become increasingly valuable if your company scales and expands.
NetSuite’s pricing model is also based on the per-user/per-month structure, with additional functionalities available for an extra monthly fee. Notably, NetSuite OneWorld maintains consistent pricing regardless of the number of subsidiaries. This is potentially a more cost-effective option if your business is growing, or you’re a franchiser with complex organizational structures.
Calculating ROI for Each Platform
To calculate the ROI for each platform, start with initial and ongoing costs, including licensing fees, implementation, and subscriptions. Then evaluate time savings, improved efficiency, revenue generation, and cost reduction facilitated by each platform. Examine scalability and integration capabilities that impact growth and data accuracy. Also, measure user productivity and customer satisfaction improvements.
By quantifying these benefits relative to costs, you can determine which platform offers the superior ROI. Your informed decision should align with your business goals, needs, and budgetary considerations.
Final Verdict: Which Solution is Right for You?
While Intacct’s cloud-based accounting solution is suitable for smaller-scale needs, it can prove challenging for companies that are in expansion mode. While it doesn’t offer the comprehensive suite found in NetSuite, its third-party add-ons are a solid alternative.
NetSuite stands out with its international operations, offering multi-language, multi-currency, and multi-subsidiary support, making it a popular choice for companies worldwide. Its outstanding integration capabilities make it the go-to solution for a unified cloud-based platform that covers ERP, CRM, financials, and more.
As your cloud solution implementation partner, Big Bang is here to assist you in making the right choice.