NetSuite - Review

In a Nutshell

Oracle NetSuite is a unified business management suite that is hosted in the cloud. It has a plethora of capabilities in customer support, accountancy, ecommerce, and human resources. SuiteBilling, its invoicing module, assists businesses in managing billing processes, with an emphasis on complicated subscription models. SuiteBilling is a product that you may utilize on its own. However, due to the high licensing prices, it is better used in tandem with other NetSuite products.

NetSuite CRM, on the other hand, is a comprehensive and enterprise-grade CRM designed by Oracle. It enables users to link additional data sources so as to provide users with a continuous flow of information. NetSuite CRM has integrated Ecommerce features, and it could also help with sales forecasting and commission monitoring.

Advantages

• Oracle NetSuite allows for customer-specific subscriptions as well as automatic modifications to subscriptions. Additionally, multiple billing models are supported.
• NetSuite CRM is suitable for businesses, excellent for overseeing worldwide sales and service groups, and provides a 360-degree client perspective.

Disadvantages

• Oracle NetSuite is just too costly to utilize solely for invoicing, and customers rate real-time reporting as inadequate.
• Unlike other CRMs, NetSuite CRM does not classify leads, and customization may need extensive programming. It is also pricier than most other alternatives.

Oracle (NetSuite) CRM at a Glance

Ideal For: Oracle NetSuite is ideal for companies with sophisticated subscription plans, whereas NetSuite CRM is ideal for business users.

Essential Application: General CRM, which includes marketing automation and lead collection.

Cost: Oracle NetSuite costs $99 per month per user, and additional charges are determined by the configuration and length of the contract. Similarly, the base license charge of $999 per month for NetSuite CRM is not inclusive of user fees (additional costs vary on a case-by-case basis and will require a consultation to determine).

Free Trial: The free trial period is often 14 days for NetSuite CRM, but this varies by MSP. iOS and Android apps are available for Oracle NetSuite.

Features and Add-ons

Oracle NetSuite's most remarkable feature is SuiteBilling, which enables hybrid subscription, transaction, and usage-based billing models, while all the while maintaining ASC 606 compliance for your company. The software offers:

Simple subscription management

Simple subscription management allows you to enable automated renewals. Subscription changes, such as suspending, down selling, canceling, and upselling, may be readily controlled using the program. Subscriptions range from standard time-based subscriptions to evergreen (for instance, one year or three years).

Allows for planned and automatic subscription changes

Subscription pricing and quantity changes can be made immediately or at a later date by your company. This reduces the need to track and monitor changes to client subscriptions manually.

Support to two rating models

SuiteBilling allows your company to bill subscribers as recurring fees or one-time payments, in arrears or in advance. On the other hand, multiple rating models enable your company to construct subscriptions that collect license counts, variable usage, and setup costs all at once.

Allows for customer-specific discounts and pricing

Custom subscriptions allow your company to design customized discounts per item, as well as unique contracts and pricing for each client.

Support to three billing models

Customers are charged the same rate every billing cycle under the flat model. In contrast, the volume system is based on entitlement or consumption, with the highest-volume tier-unit pricing achieved being applied to the total billing. The tiered approach applies the tariff for each consumption unit to a predetermined range (moreover, the final end-rated value consists of erratic per-unit rates).

On the contrary, NetSuite CRM is a high-end CRM with sales and marketing automation capabilities. It has both default and customizable reporting capabilities.

Tools For Sales Teams

CRM

NetSuite offers all of the standard CRM features, such as preserving leads, tracking, transactions, and prospects.

Forecasting Sales

Users of NetSuite CRM may acquire numerous sorts of sales forecasting so as to estimate future sales volumes. Multiple forecasts, computed forecasts, and mood ring predictions are examples of these.

Salesforce Automation

NetSuite CRM enables users to increase their salesforce' efficiency through automation such as handover and lead routing. NetSuite's marketing automation software provides sales teams with real-time accessibility to opportunity, customer, and order data, allowing them to convert and manage leads more effectively.

Tools for Customer Support Teams

Client support is linked to all CRM sites, giving agents a comprehensive 360-degree picture of customer behavior. Support staff, marketing, and sales may all work in close collaboration with NetSuite CRM.

Tools For Marketing Teams

Marketing Automation

NetSuite users may automate multi-channel advertising strategies to synchronize with sales activities, allowing faster reaction times and optimizing opportunity value. NetSuite CRM users may utilize marketing automation to better target, design, and execute marketing campaigns.

Therefore, the sales staff may view the outcomes of lead-generating activities directly, which can subsequently be integrated into outbound marketing. IT also automates the collection of leads from search engines, websites, events, and direct mail.

NetSuite also provides the ability to create and deliver automated and promotional email marketing campaigns while at the same time allowing upsell marketing grounded on purchase trends.

Customizations And Integrations

NetSuite is an entire collection of software tools. For this reason, your company should expect to spend weeks, if not months, putting it up and providing training to personnel. As a result, rather than utilizing SuiteBilling as a standalone solution, we encourage using it in collaboration with additional NetSuite features. Overall, NetSuite is incredibly user-friendly. The biggest issue with usability is that the learning curve is steep.

You may modify almost every feature of Netsuite CRM because large corporations and corporate clients mainly utilize it. For starters, users are able to define as many configuration options as they want in order to tailor the CRM to their specific requirements. Furthermore, NetSuite SiteBuilder enables users to develop application forms that precisely replicate their agents' preferred lead collecting method.

Reporting And Dashboard

The main page of NetsuiteCRM has a dashboard interface that showcases real-time info feeds from around the enterprise. Netsuite CRM users may get either basic or customized reports geared to their individual needs when it comes to reporting. Users may also adjust the display to filter activities based on their position in the lead funnel as well as view the pipeline.

Mobile Options

The Android version gives customers access to the integrated business package, allowing them to monitor KPIs, receive business snapshots with dashboard support, and do other things. Users may access the complete range of CRM services via the native iOS app, including scorecards, KPI metric display, and visuals.

Payment Options

NetSuite is linked with PayPal, allowing you to take payments in many currencies in a safe manner. PayPal's standard transaction fees of between 1.9 percent to 2.9 percent plus $0.30 for each transaction are applicable. No one-time or monthly costs are chargeable. Your consumers do not require a PayPal account to make a payment.

Additionally, some 3rd-party payment firms, most prominently Stripe, have NetSuite add-ons. The Stripe Connector for this application allows you to automatically communicate Stripe data to NetSuite in actual time, assisting with cash reconciliation and accepting invoice payments.

The following methods of payment are accepted:

• American Express
• Visa
• Discover
• Mastercard
• Bank Transfer
• PayPal account balance

Costs & Fees

Will you be utilizing other tools like CRM, payroll, forecasting, and budgeting? Or will you exclusively use SuiteBilling? Because the price of NetSuite is so variable, the answers to these questions will decide how much your company ends up paying. A standard organization licensing price of $999 per month for NetSuite CRM is charged. The monthly fee for each user after that begins at $99 per month. The cost of your company's NetSuite subscription is determined by contract duration, the number of users, configuration, and other criteria. However, it is advisable that you book a session to fully understand the cost of NetSuite for your firm in order to get a customized plan for your individual needs.

Customer Service

NetSuite customer support is divided into two tiers: standard and premium. Those who enroll in the service tier that includes premium support have 24/7 access to essential systems and can appoint four approved support contacts inside the business for non-critical issues. You can start private conversations with support specialists by clicking on the online chat support icon or dialing one of the direct, international call numbers.

Bottom Line

While SuiteBilling for Oracle NetSuite is primarily intended for businesses with complex subscription-based invoicing needs, it accepts a variety of billing formats. If your company frequently personalizes subscription contracts to meet the demands of individual customers and employs tiered or volume subscriptions, SuiteBilling is among the best invoicing systems on the market.

NetSuite CRM is indeed an enterprise-grade CRM with a robust collection of functions that provide users with a 360-degree picture of the firm and its client base. Given that it is intended for commercial use, it may not be the cheapest CRM on the market. Nevertheless, it is a viable alternative for individuals who want a scalable tool that can be corroborated by support with rigorously specified service-level contracts.