Netsuite is an online-based software that helps companies for managing all of their key business processes within a single system. NetSuite is used by the companies for ERP (Enterprise Resource Planning) and for managing the inventory, tracking their Financials, hosting eCommerce stores of their companies and also for maintaining the CRP (Company Relationship Management).
Since NetSuite helps in managing all these major things of the Company, it automatically helps in increasing the efficiency of your business helping you add more revenue. This is why Netsuite is an important aspect for your business.
Hence, it is very important to know the Netsuite Pricing Matrix so that you can imply it in your company. To ease your work, we’ve provided detailed information about the pricing in this “Netsuite Pricing Guide”.
Welcome, in this Netsuite Pricing Guide we’re going to share everything that you should know for getting the best license contract for Netsuite which can help you save a considerable amount.
The Netsuite Pricing model of Netsuite starts with the “a Suite” concept. Basically, your company size and its needs determine the type of Suite you’ll have to license.
The suites are referred for Netsuite Limited Edition, Netsuite Enterprise Edition and the Netsuite Mid-Market Edition. Each of these editions is based on the number of all the employees in your company and/or the user license number. Each of these editions of Netsuite is identical regarding the underlying code base and the development model.
Hence, as and when your company grows, you will have to just simply adjust your subscription size of Netsuite that can meet your needs. This transition is pretty seamless. Also, along with Netsuite you’d never have to get worried about migrating your system when you outgrow your present edition, you’d just have to change the pricing model which suits your company.
Check out the types of Netsuite Editions given below:
- Netsuite Limited Edition: The Limited Edition is Netsuite’s pricing for small scale businesses. This suite is a perfect choice for those companies having a Single Legal Entity, have less than 50 employees and require a maximum of 10 user licenses.
- Netsuite Mid-market Edition: This mid-market edition is ideal for companies that require 10+ user licenses and/or having more than one legal entity that needs for performing integrated accounting reports covering multiple currencies.
- Netsuite Enterprise Edition: This edition of Netsuite is ideal for those companies having more than 1000 named users.
Now, let us know how much is the pricing of Netsuite for per user,
Firstly, the ERP vendors of this software give either a model that has a named user or perhaps an existing licensed model during the licensing of the software for an end-user.
When it is about the licensing application for the end-user, Netsuite proceeds by taking the “named user” method. The user license is mainly required for designations like the Sales Manager, Controller, a Customer Service Representative, a Controller, you know what we mean to say.
Apart from these, there are also some user licenses that perform only limited tasks/functions in Netsuite. For example, tasks like entering the timing details regarding a particular project, enter/track/view accrued PTO or enter/track/view those people who start a purchase order or perhaps enter/track/view expense reports. Such users who perform limited tasks are called “Self-Service Users”.
Now, you may be having some usual questions regarding “what about the users who want read-only access for the Netsuite data”?
Well, it’s very important to know that the data from Netsuite can be sent to Excel or any other third party application using the ODBC (i.e the SuiteAnalytics Connect). Also, the reports can be scheduled and transferred to non-licensed software users using the Native Netsuite in either Excel, PDF, Word or CSV with the help of Netsuite’s reporting functionality.
The OpenAir Pricing by Netsuite,
This is mainly used for automating your professional service-based organization.
OpenAir is a cloud-based PSA (Professional Service Automation) offered by Netsuite. The OpenAir is a part of the product portfolio of Netsuite since 2008 from an acquisition.
OpenAir gives tools for managing the project and its resources along with the time and expense administration capabilities. It also provides tools for managing the account of the project.
Although OpenAir easily integrates with Netsuite, it also has some pre-built connectors for Microsoft Project, SAP, Salesforce and Oracle. Further, as OpenAir offers high customizing options through a licensing perspective, it is best to consult a licensing specialist for OpenAir. This will help you know what are the right requirements and guide you by giving a realistic picture of what you are dealing with.
Netsuite SRP Pricing
Just like the cloud-based OpenAir offered by Netsuite, Netsuite SRP is also a cloud-based PMS (Project Management Software). To give a clear idea between OpenAir and Netsuite ERP, here are some main differences between them given below,
- Management of the Project*
- Allocation of the Resources
- Job Costing
*The Netsuite SRP is an advanced module and comes with more functionality/features than the basic offerings with the Netsuite.
All the three modules which were mentioned previously can be independently subscribed. But, when all these three modules are combined together, then they can be collectively called Netsuite SRP.
Netsuite SRP is built on the SuiteCloud Platform of the Netsuite and is a 100% native NetSuite. Whereas, the Netsuite OpenAir was a part of an acquisition giving it a completely different feel and look when compared with Netsuite SRP.
Furthermore, for integrating with Netsuite, the OpenAir does require a connector. This makes OpenAir one of those few Netsuite products which require a connector and which is not natively present within the Netsuite.
The Netsuite OpenAir is designed as per the requirements of large professional service-based organizations that can connect with any ERP system, whereas the Netsuite SRP is built for companies having fewer automation needs for robust professional service and require a single platform for running the entire business.
These two can be taken as a “suite” IT strategy vs “best of breed”. Both are a great option to use in the right environments.
Netsuite ERP Pricing,
Netsuite is built for supporting different types of business models and industries for all departments and not for a specific industrial niche ERP systems. The Netsuite ERP pricing is available in a wide range giving many packages which makes this software easily affordable for startups and also for big organizations.
No matter if you are a global manufacturer or a small 3 people accounting group helping an e-commerce business, Netsuite has a licensing and pricing package for you. Also, Netsuite gives different types of licensing packages specific for various company sizes, industries and means of development.
Below we have given what is included in the Base Function of a Netsuite ERP,
- The ERP comes with general features like a ledger, purchasing, order entry, accounts payable, advance shipping along with integrated FedEx or UPS and expense reporting.
- Netsuite CRM (Customer Relationship Management) and SFA ( Sales Force Automation) with a quote, order management, campaigns which come with marketing automation, customer support and services.
- Tools like calendar, contacts and events for increasing productivity.
- Real-time dashboards having report snapshots and main business metrics.
Oracle Netsuite Pricing for Small Business
In the beginning, Netsuite Software was mainly targeting the smaller part of the SMB Market. In fact, in the beginning, a software package was to be offered which was referred to as “Oracle Small Business Suite” given by Netsuite. This package was sold for small companies that required limited needs and also had low budgets.
But, between the year 2012 to 2016, Netsuite’s product growth and its maturity forced them to level up their market which made them land some very big customers, such as Shaw Industries, Williams-Sonoma and GoPro, which was noticed by the entire marketplace.
To be honest, during this period, it was not at all uncommon to hear leaders of Small Businesses stating that “Netsuite was becoming too expensive and they seemed very well aligned in serving the bigger organizations”. Such statements motivated many other SMB’s for considering the cheaper alternatives.
Moreover, the concern was more increased regarding when the acquisition was announced by the oracle during the summers of 2016.
Nevertheless, from the past few years, this tendency has changed significantly on a large scale because of the acquisition made by the oracle.
From the very beginning, Oracle stated that Netsuite was to be positioned and sold for the organizations having less than 1,000 users while the products of Oracle Cloud ERP was to be aimed for the Enterprise space.
To support this statement, once again the Netsuite has packaged its software for companies that are coming to light and have outgrown QuickBooks with many “starter” packages having highly attractive price points and options at entry-level.
This Netsuite Pricing Guide also has few tips which can help you in Netsuite Pricing,
Tip 1: Purchasing at the Right Time
No matter if you are buying a car, furniture or software, when you are buying is as much as important as what you are buying. For most of the buyers this information is common, but if you are unaware of it, then do keep reading.
Software Companies such as Oracle, Microsoft, Salesforce, etc which trade publicly are mainly focused on monthly as well as on quarterly performance, almost to the fault. In case if they have a potential “deal” during the final business days of the quarters/months, the senior management will give you complete attention to get the deal done. So, if it is the last business day of the financial calendar, then it is the ideal time for negotiating the Netsuite Pricing and arranging new software.
So, never neglect in strategizing the time of purchasing your license not only for meeting your company’s timelines but also to increase your Netsuite ROI. Always remember, Timing is the key for everything.
Tip 2: Conditions and Contract Terms
The Netsuite Software is a 100% subscription-based software. Hence, whenever you license Netsuite, the software is provided to you for a definite time period due to which there are some pros and cons with such an arrangement. On one hand, this helps free up the Capital and gives maximum flexibility when compared with the days of on-premise and unending software purchases. While the opposite side is that the ERP is too sticky and guess what even Netsuite knows this. Also, it is not at all easy in pulling the plug from one ERP vendor and switching to the other overnight.
Tip 3: License as you go further
A common mistake done by the first time buyers of Netsuite is that they believe to license everything in advance itself in order to get a better deal.
Also, sometimes there may be scenarios where it does make sense in making a larger purchase in exchange for an adjustment. But speaking generally, those customers who purchase new licenses when they need them, do save more amount on Netsuite Licensing when compared with others.
There are numerous times when Netsuite clients who have purchased new Netsuite services and modules because they thought that they were “making a great deal by purchasing those services” that they simply did not need.
So, always remember what to license and when to license does have an overall considerable impact on your Netsuite Pricing Matrix.
Oracle Netsuite is a wonderful software helping all types of companies and organizations irrespective of their size and niche. So, to get the most out of this software, do refer to this Oracle Netsuite Pricing Guide and make the best use of it.