Sage Intacct vs. NetSuite-Mid-Market ERP Comparison
Both Sage Intacct and Oracle NetSuite are well-known as true-cloud software solutions to help businesses manage their core accounting needs and other aspects of their day-to-day operations. Which one is the right fit for you? This Sage Intacct vs NetSuite comparison will highlight key differentiators between the two solutions and reveal what works better for you.
Sage Intacct: Best-In-Class Accounting and Financial Management
Accounting and Financials are the core strength of Sage Intacct. It provides deep and comprehensive functionality for Accounts Receivable, Accounts Payable, Cash Management, an Intelligent General Ledger, Purchasing, Order Management, and much more.
Flexing its accounting muscle, more specific and sought-after features are its invoicing, fixed assets accounting, project accounting, inventory management, allocations, revenue recognition, and subscription billing. These fill the needs of a broad range of industries and provide functionality that, in competing solutions, would require third-party add-ons.
Intacct also excels in delivering business insights, allowing you to create real-time custom reports, and review company performance data via dashboards with KPIs.
Highlighting its accounting prowess, it’s renowned for being the only accounting software endorsed by the American Institute of Certified Public Accountants (AICPA). That speaks volumes for its capabilities, including its adherence to Generally Accepted Accounting Principles (GAAP), which ensure clean accounting along with practices that any properly-schooled accountant will recognize and be able to work with.
Account Dimensions add another level of organization to your Chart of Accounts. Dimensions act like tags for your transactions, enabling you to sort and filter for reporting purposes without account coding. There are 8 Dimensions you can assign, and by default, they are named:
However, if those categories don’t work for you, they can be renamed to conform to your business needs.
Intacct is built upon an open platform that allows integration with a host of third-party tools, allowing you to benefit from its broad accounting functionality while choosing other best-of-breed solutions (such as Salesforce CRM) to address other aspects of your operations. Many Intacct customers have developed their integrations to deeply link their technology with Intacct as the central, single source of truth.
Additionally, it goes beyond the accountant’s office to address other important areas, such as HR and Payroll and Time Tracking. They also offer solutions tailored to industry needs, such as Construction and Real Estate, Financial Services, Healthcare, Hospitality, Nonprofits, Professional Services, Retail, Subscription and SaaS, Wholesale Distribution, and more.
As your operations expand, Intacct has your back. It handles operations for global companies, with multi-entity and multi-currency support. It also automates the consolidation of entities (like subsidiaries), properly accounts for partial or minority ownership, and automates inter-company transaction eliminations in the consolidation process.
Since Intacct is a more focused solution, it also comes with a lower price tag. Licensing and implementation costs are significantly lower than NetSuite’s, making it a viable option for small and growing enterprises.
NetSuite: One Solution to Rule Them All
NetSuite is truly an ERP solution in every sense. While it has much of Intacct’s functionality built in, it extends far beyond the accounting realm to handle nearly every aspect of any medium or large-scale organization. Its suite of products include:
- Accounting software
- Global business management
- Human capital management
- Professional services automation (PSA)
- Omnichannel commerce
- Analytics and Reporting, including Business intelligence
Under each of those categories, you’ll find a diverse set of components that provide services to fill almost any need. Detailing all of NetSuite’s capabilities is outside the scope of this article, but suffice it to say, it’s a powerful solution that tens of thousands of leading companies depend on to manage their daily operations locally and globally.
With such broad-reaching functionality, NetSuite comes with a more complex and costly implementation process and higher license fees. However, its feature set is worth the price tag for larger, more complex organizations.
Sage Intacct vs NetSuite Comparison Chart
Here’s a quick look at the basic differences:
|NetSuite Modules and 3rd party
Sage Intacct vs NetSuite Which One is Right for You?
Both solutions are aimed at the mid-market. Both provide a broad range of functionality. Some businesses need the breadth and depth of accounting features that Intacct provides and are content to acquire other needed features through third-party add-ons.
Other entities with complex business requirements may be looking for a more all-encompassing product to handle not just business management but CRM, human resources, Warehouse and Inventory Management, and more, and desire the cohesion that a single software solution brings. NetSuite might be the better fit for such companies.
Would you like to know more about leading ERP solutions and how to select the best one for your needs? Contact our experts today to find out how we can help you increase organizational efficiency and profitability with a solution tailored to your needs.
By Chandra Subramanian, CogentNext Technologies