When comparing NetSuite vs Intacct, we have found that NetSuite is far superior at supporting fast-growing companies.
Intacct is a fine financials-focused software, but it requires bolt-on solutions to support the everyday needs of growing companies.
NetSuite is a more complete and mature system that empowers customers to manage financials, CRM, HR, warehouse management, ecommerce, and more from a single platform.
Total Business Suite vs Standalone Financial Management
If your business is in rapid growth mode, then your needs are changing rapidly as well. Among these needs could be increasing headcount, tracking more sales and transactions, new subsidiaries, logistics and inventory management concerns, etc. These needs will be supported through business software, and few, if any, are natively available via Intacct.
CRM, ecommerce, inventory management, partner management, and more are not native to Intacct because it is almost exclusively a financial management solution. Each business need will require different software with system integrations, middleware management, software updates, and all the other pains associated with managing disparate systems. Plus, at the same time your company is growing, your team will need to learn how to use all of these new systems.
With NetSuite, everything is under the same roof, all data is shared for a single version of the truth, and it’s updated in real-time. This is a fully integrated system that includes everything required to run a successful modern business.
And, its modular design allows you to scale through every stage of growth. NetSuite can help a 1-2 person company grow to a multi-billion dollar enterprise with hundreds of employees across the globe. For example, since 2011, approximately 66% of technology IPOs were NetSuite customers.
International Growth Capabilities vs Limited Growth Capabilities
When investigating the merits of NetSuite vs Intacct, you should consider the potential for expansion into international markets. Whether you are opening up shop in a new country, selling to a new customer base, or outsourcing part of your supply chain, it is worth a second thought.
Here are a few bits of information about Intacct.
- New entities require new Intacct licenses, and real-time data is not accessible by entities. (source)
- Revenue recognition and compliance with ASC 606 are limited and require heavy manual efforts to complete.
- Intacct has a limited presence outside of North America as it currently only has English language support. (source)
- Global consolidation is a manual process. (source)
- Multi-subsidiary consolidation requires a consolidation module. (source)
- A separate module is needed to accommodate multiple languages and currencies. (Source)
- Separate reports are required for multi-currency translation and management and to see a subsidiary’s performance. (source)
NetSuite and its OneWorld product can help fuel your interest in expansion or investigation into new markets. It has customers in over 217 countries and supports 27 different languages. The product also has currency management features for nearly 200 currencies and exchange rates, and it boasts robust tax and regulatory functionalities to resolve any compliance or related challenges. Plus, all data is updated in real time, and it offers multi-subsidiary consolidation while also assisting with intercompany consolidation. (source)
Additionally, NetSuite has data centers internationally, and it offers 24/7/365 customer support, whereas Intacct has limited office hours for its US-based live agents, along with other support options.
Diverse Industry Solutions & Flexibility vs Financials-Only Focus
Both NetSuite and Intacct were built with strong financial foundations, but NetSuite developed other proficiencies at the same time its financial product was maturing.
Through its thousands of successful deployments, NetSuite took these experiences and industry-leading practices and created a host of different industry-specific solutions. It offers pre-built reports, customizable dashboards, pre-defined roles, KPIs through its SuiteSuccess editions, an expansive SuiteApp marketplace, and much more.
Since its inception, NetSuite also gained a better understanding of workflows and customization options needed for businesses to adapt and scale. If you require specific customizations, or a unique workflow or automation, then NetSuite (and the right partner) can make it happen.
As mentioned previously, Intacct was developed with a singular focus on financials, and it works well. But, if you’re interested in a solution that can match Intacct’s best offering AND can help support every other aspect of your business, then you need to seriously consider NetSuite.