If your company is considering implementing an ERP solution, choosing between the dozens of options can feel overwhelming. It's critically important to get the right solution that fits your business. To make the job of comparing easier for you, we have outlined below the similarities and differences between NetSuite and Epicor.
NetSuite Overview
NetSuite started as an accounting software package in 1998 that was developed by Evan Goldberg. The software quickly evolved into a cloud-based ERP solution.
In 2016, Oracle purchased NetSuite for more than $9 billion. Roughly 16,000 customers use NetSuite in 200 countries. The software is well respected and highly regarded as one of the first cloud-based ERP software packages.
Epicor Overview
Epicor was developed in 1972 and also started out as an accounting package for corporate networks. The company expanded its capabilities to specialize in manufacturing after merging with DataWorks. The company was renamed in 1999. About 20,000 customers use Epicor in 150 countries.
The company has been bought and sold a few times, which can cause significant changes in management, strategy, and product focus. That is something to keep in mind when choosing your ERP solution.
Which Package is Best Suited for Your Industry?
NetSuite software includes CRM, PSA, ERP, and e-commerce features and is ideal for small to medium-sized companies.
Some of the industries that use NetSuite include:
- Retail & E-commerce
- Advertising, Media & Publishing
- Nonprofits & Social Venture
- Professional Services
- Software and SaaS
- Manufacturing
- Wholesale Distribution
Epicor software comes in 15 flavors; each is designed for different industries like manufacturing, production, retail, etc. It works well for small-medium-sized companies and large enterprises.
Some of the industries that use Epicor are:
- Aerospace & Defense
- Automotive
- Electronics
- Food
- Mills & Metals
- Medical Devices
- Manufacturing
Features of NetSuite and Epicor
Most ERP solutions will have many of the same features and functionality, but they also differ. It's essential to examine what each package offers to get the right fit for your business.
Out-of-the-box, NetSuite is outfitted with an impressive list of features. Some of the included features are:
Financial Management
- Accounts Payable
- Accounts Receivable
- General Ledger
- Multi-Currency
- Fixed Assets
- Multi-Company & Consolidation
- Revenue Recognition
- Subscription Billing
- Forecasting & Budgeting
- Financial Planning & Analysis
- Compliance Management
Supply Chain Management
- Order Management
- Production Management
- Inventory Management
- Procurement
- Warehouse & Fulfillment
- Demand Planning
- WIP & Routing
- Work Orders & Assemblies
- Shop Floor Control
- BOM Maintenance
Human Capital Management
- Human Resources Management
- Employee Onboarding
- Vacation Scheduling
- Employee Directories
- Payroll
Retail & E-commerce
- Point of Sale
- Mobile Point of Sale
- E-commerce
- Order & Inventory Management
- Product Content Management
- Marketing Automation
Professional Services
- Project Management
- Resource Management
- Timesheet Management
- Expense Management
Epicor also includes a long list of features; however, some are named differently. The features of Epicor include:
Financial Management
- Accounts Payable
- Accounts Receivable
- Electronic Funds Transfer
- Bank Reconciliation
- Tax Management
- Payroll
- Collections
- Credit Management
Supply Chain Management
- Purchase Management
- Sourcing & Procurement
- Inventory Management
- Advanced Material Management
- Warehouse & Fulfillment
- Supplier Management
- Shipping & Receiving
- Demand Management
- Supplier Connect
Human Capital Management
- Talent Management
- Employee Self-Service
- Time Sheets
- Absence Management
- Total Compensation Management
- Law Firm Package
Retail & E-commerce
- Point of Sale
- Mobile Point of Sale
- Payment Processing
- Total Management
- B2B e-Commerce
- Dealer Network Portal
Professional Services
- IT Service Management
- Service Management
- Field Service Automation
NetSuite vs. Epicor - Comparison
In terms of financial management, NetSuite outshines Epicor in a few areas, especially compliance, tax preparation and planning, and accounts receivable functionality.
Another area where NetSuite has the advantage is in sales and marketing, allowing you to run simultaneous marking campaigns to gauge the success of each. Combined with its CRM offering, the software gives you complete control over your marketing plan and sales initiatives.
NetSuite has powerful real-time inventory management features that support multiple warehouses, warehouse lot tracings, and transparency to ensure that supply levels are well stocked.
Epicor has strong risk management capabilities and event management features. The software also handles compliance issues really well and supports mobile device connectivity.
When it comes down to a head-to-head comparison, NetSuite typically comes out on top as offering more scalability, more flexible options using its modular system, and more robust features out of the box. Additionally, it's easy to customize to extend the functionality even further.
NetSuite vs. Epicor - Support Options
Both solutions offer 24/7 toll-free, worldwide support. You can acquire in-person and online training with both companies and resellers.
NetSuite also offers an extensive knowledge base (SuiteAnswers) and a healthy online community to which you can turn for help.
Epicor offers online courses (Epicor University), self-help resources, and one-on-one education.
Deployment Options
Where the two options differ widely is in deployment. Epicor offers an old-school on-premises approach and is installed on your servers. The company has recently expanded into the cloud, but that version suffers from performance issues and bugs. If you are looking for a cloud-based solution, NetSuite is the clear winner.
NetSuite was built on the cloud to be fast, efficient, and easily accessible worldwide. The entire program runs on a single code base making it reliable and easy to customize.
Pros and Cons of Epicor
Although Epicor is strong in the manufacturing space, the software lacks in a few areas, including marketing, CRM, and e-commerce. Additionally, if you have customizations built-in, upgrades have been known to break them. One disadvantage with Epicor is that you are essentially dealing with 15 different pieces of software, so if your company focus changes, you will need to implement a new solution and learn it all over again.
If you require custom reporting, you will need someone with strong technical skills or hire a third party to program your reports.
You cannot offer specialized views for customers or vendors. Instead, you must buy a license for each and have the system customized for their purposes.
You do not get built-in dashboards with Epicor and must pay extra for business intelligence features.
Pros and Cons of NetSuite
On the other hand, NetSuite is the #1 cloud-based ERP solution used by manufacturing companies, retail outlets, and service businesses. It's completely cloud-based and modular, so you can combine the features you need for your organization.
It comes pre-loaded with robust inventory, customer management, and marketing features. The software is highly scalable and great for small to mid-size companies on a solid growth track.
It includes powerful financial management features, tax planning, and compliance functions.
The entire system is built upon a unified code base for easy extensibility through software developers and NetSuite partners.
NetSuite has built a robust network of high-performance resellers and partners who help clients license, customize, and implement their solutions.
However, if you need an on-premises solution, NetSuite is not the software for you. It cannot be installed on your servers or a private cloud; you must use the public cloud-based option. If you need a private installation due to compliance reasons, NetSuite may not work.
Additionally, if the base software does not precisely meet your needs, you might need to purchase customizations, which you can do through NetSuite or a reseller.
Which ERP Solution is Best - NetSuite vs. Epicor?
When deciding which ERP solution is best for your company, you must consider all the factors and compare features, deployment and licensing options, support, and budget. The steps you will need to take before deciding on your chosen option include the following:
- System Audit - Conduct a system-wide audit to determine where you stand now, what operational problems exist, and how to fix them.
- Strategic Planning - Perform strategic planning to figure out how you want to grow the business and what you need to get there.
- Business Intelligence - Consider the information you have available to you and what types of reports will help you plan a path to the future and make real-time decisions.
- Evaluation - Complete an evaluation of the ERP solutions available to you and how they match your needs, goals, and budget.
- Schedule a Demo - Schedule a live demo of the system so you can see exactly how it might work for your company and industry.
- Negotiate a Contract - Negotiation of a contract and licenses are an essential part of the process.
- Prepare and Deploy - After deciding on your chosen vendor, you must prepare your people and data and then begin deployment.
It is helpful to work with a solution provider who can help you determine your needs, choose an ERP that is best for you, license and deploy the software, help you customize it, and offer training and support long after the sale.
Why Partner with ThreadGold Consultants
Threadgold Consulting is the leading Oracle NetSuite partner in Singapore and the UK. Our company has deep roots in NetSuite ERP and offers our customers ensured success through a proven implementation methodology.
We also offer innovative proprietary solutions and integrations using 3rd party tools to fill any gaps in the NetSuite ecosystem.
We are a certified NetSuite NetSuite Solution Provider partner offering licensing and implementation, consulting, development, strategic business planning, and 24/7 support.
Contact us today to find out how we can help your business grow.
