As the companies are expanding and the basic business is getting complex, the entry-level software is turning towards a list of restrictions. Managing business difficulties using spreadsheets and a slew of separate programs limits possibilities and frequently forces companies to change their software.
Odoo and Oracle NetSuite are excellent alternatives to your existing ERP system for meeting your business demands these days. They offer a great range of capabilities based on which you can consider which features and functionality can both boost efficiency and expand with your firm.
Not just that, both of these software work wonders to automate essential business operations, increase productivity and minimize operational expenses. In other words, Odoo, as well as NetSuite, provide solutions to help organizations develop, grow, and control their whole operations. However, there is a significant feature gap between the two.
So, which one is a better choice for your business?
Here you will come across a basic comparison between Odoo and NetSuite which can help you determine which integrated ERP software is best for you now and also in the future. But before we start with the comparison, let us first know about the software in greater detail.
What is NetSuite?
Founded in 1998, Oracle NetSuite is the most popular cloud ERP solution available and supports around 27 different languages. A cloud-based ERP system is the best Odoo alternative that helps companies function more efficiently and effectively. With real-time insights, faster procedures, and a 360-degree perspective of performance throughout the organization, NetSuite Enterprise Resource Planning (ERP) may provide considerable benefits.
NetSuite is the world's leading cloud-based company management software provider, allowing firms to manage all of their critical business processes through a single, fully integrated system. It includes Global ERP, financials, CRM, eCommerce, professional services automation, inventory, and several other features. NetSuite is simple to set up, operate, and versatile enough to handle all parts of your organization. Customers are constantly on the newest version of the technology, with the latest and best features and capabilities, thanks to two gratis software upgrades each year.
Enterprise Resource Planning (ERP) is a company management solution that unifies all operations and departments into a unified system to simplify data, synchronize reporting, and automate processes throughout the firm. Learn how NetSuite, the top cloud ERP system, can alter the way accounting, HR, inventory, order management, CRM, and more are connected and unified.
Read More: What Is NetSuite? Features & Benefits Of NetSuite
What is Odoo?
If you are thinking that ’who are Netsuite competitors’, a single answer is Odoo ERP. Originally known as OpenERP, it is an open-source business suite of tools that may help you run your company. Odoo comes in three variants: Odoo Enterprise, Odoo Community, and Odoo Online Edition, the first two of which are local while the third is cloud-based. With Odoo, 30 distinct certified applications perform business operations, allowing organizations to start with the apps they need and tack on more as their needs evolve. Odoo makes it simple for organizations to handle materials and warehouse operations, HR, accounting, sales, and a variety of other company functions.
Businesses are left with patchwork solutions due to disconnected business systems and obsolete on-premise software versions. NetSuite, an online company management suite, could be able to assist you in streamlining critical processes, increasing productivity, and increasing efficiency. Through Odoo, you can manage your whole business from a single cloud-based platform.
How Can These Applications Help Your Business?
- Improve Business Performance: Using real-time data and role-based dashboards, you can boost your company's performance.
- Accelerate The Financial Closure: Accelerate the financial close while maintaining accounting standards.
- Streamlining The Business Processes: Eliminate mistakes with seamless banking, CRM, and e-commerce connections.
- Report Information Accurately: Investigate the underlying information to determine the impact on your company.
Read More: How Businesses Have Moved From ERP To Cloud ERP?
COMPARISON: Odoo Vs Oracle Netsuite
NetSuite: With its automated bi-annual software version upgrades, every NetSuite customer is using the most up-to-date version of the program.
Odoo: Various versions of Odoo Online are used by different clients. Upgrades to Odoo must be requested and might be costly and complicated. Many organizations may face postponed or delayed updates as a result of this version-locked software.
NetSuite: The software is flexible and allows for simple or complicated adjustments to be made with only a few mouse clicks.
Odoo: It allows for very minimal pre-configured modifications. Those adaptations are frequently insufficient to meet each company's distinct and diverse requirements. More complicated modifications, which are relatively simple in NetSuite, may need extensive coding and IT knowledge, as well as additional maintenance fees.
Value for Applications
Netsuite: SuiteApps, which are apps created by best-of-breed partners and certified by NetSuite, help to increase the platform's value.
Odoo: Customers risk receiving poorly constructed solutions that may clash with future upgrades since Odoo sells third-party apps without partner certification procedure.
Business Expansion Options
Netsuite: It encourages company development by allowing organizations to grow in size and location without having to switch platforms.
Odoo: With its limited consolidation capabilities, it is unable to serve more than 50 users or efficiently support worldwide enterprises.
So, is Oracle Netsuite good?
Based on the comparison, it is quite evident that compared to NetSuite, there are numerous disadvantages of Odoo. NetSuite allows the user to do the following:
- Integrate ERP, CRM, and other business applications to streamline and automate company operations.
- Financial closing times and quote-to-cash cycle times can be reduced by up to 50%.
- Reduce your billing costs by up to 75%.
- Eliminate IT headaches and save total cost of ownership by up to 50% by running your business anytime, anyplace with real-time visibility throughout the organization.
- Access your company information from everywhere and without a variant lock.
- Global intelligence expands with you as you grow.
NetSuite, the #1 cloud ERP solution on the market, can help you transform your company. NetSuite has won several honours for being the industry leader in ERP, assisting some of today's most creative and fast-growing businesses!
As the top company management suite on the market, it continues to enhance and strengthen its software with each release. Oracle NetSuite is ten times larger than the next largest ERP competition in the market, with more than 29,000 clients. It believes in the value of an integrated suite of capabilities that spans the whole company, connecting the back and front offices. The entire organization may perceive operations as a single source of truth using a suite approach.