If your business is trying to choose between NetSuite and Intacct for its financial management program, it's important to understand the similarities and differences of each cloud-based software.
Here's how to determine which is a better choice for your business: NetSuite or Intacct.
Oracle NetSuite vs Sage Intacct
Comparing NetSuite vs Intacct isn't necessarily a one-to-one comparison due to the differences in their core functionalities.
Sage Intacct takes a "best of breed" approach, as their software is dedicated to being the best accounting software for companies of all sizes across every industry, whether you're a non-profit, startup, or large public company. Intacct is "built for finance professionals by finance professionals," delivering "a depth of financial capabilities you won't find in a traditional software suite" (AKA NetSuite.)
Sage Intacct received the highest score in Gartner's 2020 Core Financials for Lower Midsize Enterprises, scoring a 4.61 out of 5. Trailing closely in second place was Oracle NetSuite, with a 4.51. This study grades different cloud-based financial management solutions on a list of critical capabilities including configuration, accounts receivable, financial analytics, usability, accounts payable, fixed asset accounting, and complex GL capabilities.
Sage Intacct user Ellie left a review on g2 about how much Intacct helped with her company's growth, saying:
"Intacct is an innovative cloud based accounting system that can provide a lot of customizable solutions for your company's growth. We work with a wide range of industries at different scale, Intacct is the perfect solution since it can easily handle growing numbers of users, and transactions, or entities."
Rather than being a best in show for one specific area of business, NetSuite is, as the name entails, an entire suite of services.
NetSuite markets itself as "the #1 Cloud ERP Solution", meaning it can handle everything including:
- Financial management and accounting
- Marketing automation
- Time tracking and payroll
- Supply chain management
- Inventory management
- Order fulfillment and shipping
In addition to its functions as an ERP and financial management software, NetSuite's capabilities also include customer relationship management (CRM), professional services automation (PSA), and handling all aspects of eCommerce.
Because NetSuite is so much more than just accounting software, we're not really just comparing NetSuite vs Intacct — we're actually comparing ERP software vs accounting software.
ERP Software vs Accounting Software
The debate between Intacct and NetSuite ultimately boils down to one question: What do you actually want out of your software?
Are you solely looking for accounting software or do you want to run all business operations through a single program?
Intacct is an accounting software through and through, whereas NetSuite is more of an ERP software. Some businesses might just be looking for a software to help with accounting processes, while others might need a solution that integrates accounting with other teams such as HR, sales, and marketing.
If you're just looking to crunch the numbers and keep track of financials, an accounting-only solution like Intacct may be best for you. However, if you're looking to scale all of your business processes and create a free flow of information between departments, an ERP software like NetSuite could be the right choice.
NetSuite vs Intacct: How They're Similar
While they may have more differences between similarities, here's how NetSuite and Intacct compare.
The main similarity between NetSuite and Intacct is they are both mid-market cloud-based management software. When software is "cloud-based," this just means that instead of storing data on servers your company needs to physically keep on site, that data is stored in "the cloud." The main benefit of a cloud-based solution is that you can access it from anywhere at any time and it requires fewer internal IT resources. Cloud software and storage is more prevalent than ever, as it eases the burden of a lot of traditional technological challenges.
The other main similarity between NetSuite and Intacct is that they're both mid-market solutions that can handle more intricate business processes and needs. They're both a pretty big upgrade from smaller-scale accounting software such as QuickBooks, Sage, and FreshBooks.
NetSuite vs Intacct: How They Differ
While their list of differences is longer than their list of similarities, here are the most important ways NetSuite differs from Intacct.
NetSuite is More Than an Accounting Software
As mentioned above, NetSuite's primary function is serving as an ERP software. Unlike Intacct, which is focused on accounting, NetSuite has the core functionalities of a CRM, PSA, eCommerce management, and HR software out-of-the-box. Depending on how complex your business processes are, you may need to pay a bit extra for custom development work during your NetSuite integration process, but this isn't always the case.
Intacct Lacks Out-of-the-Box Capabilities
NetSuite has a lot of its functionalities built in from the start, plus additional integrations are possible via custom development with SuiteScript or adding SuiteApp integrations.
Intacct, on the other hand, is lacking in this department. Seeing as they are a dedicated accounting software, Intacct relies on third-party integrations and consultants to help businesses customize Intacct to fit their needs for functionalities such as marketing campaigns, CRM, HR, and supply chain management. Even something as simple as creating custom reports could be something you need to hire outside help for. All of these customizations and third-party integrations could end up costing a lot of money.
NetSuite Supports International, Multi-Entity Organizations
This won't be an issue for everyone comparing NetSuite vs Intacct, but if you have a business that isn't based in the U.S. or work for a large organization with multiple entities, Intacct won't be able to support your needs. A major benefit with NetSuite is that it's a global company, meaning their support extends far beyond the borders of the United States. Intacct, on the other hand, is subpar for users that aren't in the U.S.
One Intacct user, who operates subsidiaries in the U.S., United Kingdom, and Australia, left a review on g2 stating multiple issues with international support, including, "the lack of native VAT/GST reporting really let this product down" and that the third-party application that handles this, Avalara, was too expensive. He goes on to say that "bank feeds for many banks outside of the United States also lack support" and Intacct "is particularly great if your business only operates within the United States."
NetSuite vs Intacct: Pricing
NetSuite and Intacct are similarly secretive with their pricing. Neither software company publicly lists pricing online -- you'll have to reach out to the companies themselves or a licensed NetSuite provider to get a solid idea of the cost.
In general, it's said that Intacct pricing can be a bit lower than NetSuite, however, it's hard to say for sure because there are so many factors that affect pricing. For example, to determine the price of NetSuite, you have to take into account potential customizations needed, development costs, integration costs, and applicable training and ongoing support.
Intacct is similar. If you're only looking for an accounting software, it will be fine to use it as is. However, if you need additional integrations or access for a large number of users or multiple business entities, the costs can start to add up quickly.
Which is Best for Your Business?
Ultimately, choosing between Intacct and NetSuite means choosing an accounting-specific program or an entire suite of cloud software.
If you still aren't sure what software is best for your business, Schedule a free consultation so our team of cloud consulting experts can help you out!
If you read through this article and are interested in learning more about NetSuite, book a free NetSuite demo with our expert consultants so we can show you exactly how it can help your business grow.