The modern business world is highly competitive, and to be successful, you need to manage all aspects of the company efficiently. The key to being productive is a solid ERP solution that combines business management software with intelligence and analytics to help you make sound decisions to grow the company.
However, deciding which ERP solution is right for your company can be challenging. We have put together this ultimate guide comparing Oracle NetSuite with Infor CloudSuite so you can make an informed decision easier.
Table of Contents:
- What is NetSuite?
- What is Infor Cloudsuite?
- Overall Comparison
- Deployment
- Pricing
- Financials
- Supply Chain Management
- Manufacturing/Production
- Customer Relationship Management (CRM)
- Professional Services Automation (PSA)
- Omnichannel Commerce
- Human Capital Management (HCM)
- Speed & User Friendliness
- How to Decide on the Best ERP Solution
What is NetSuite?
NetSuite is the #1 cloud-based ERP solution offering companies software to manage financial, marketing, inventory, CRM functions, and all other aspects of business operations.
NetSuite is a true Software-as-a-Service (SaaS) that Evan Goldberg created in 1998 as accounting software. In 2016 Oracle bought NetSuite for $9.3 billion and turned it into a full-fledged ERP solution.
The software works great for small-medium size companies in specific industries like:
- Advertising, Media & Publishing
- Manufacturing
- Nonprofits & Social Venture
- Professional Services
- Retail & E-commerce
- Software and SaaS
- Wholesale Distribution
NetSuite includes everything you need to run your business. It is typically quick and easy to deploy, and you only pay for the modules you use.
What is Infor CloudSuite?
Infor CloudSuite is a cloud-based ERP solution founded in 2002. The software uses Amazon Web Services (AWS) for its backend infrastructure. The company has 14,000 cloud customers and works with 20,000 resellers and partners.
CloudSuite is reliable and scalable and works well in the hospitality, aerospace, automotive, healthcare, and public sectors. The program relies heavily on scientific data, automation, and real-time information access. They offer the following products within the ERP suite:
- Finance and Accounting
- Supply Chain Management
- Planning and Scheduling
- Project Management
- Customer and Order Management
Customers can opt for an on-premise solution or use the cloud-based option. An on-premises install will take longer to deploy.
Overall Comparison
NetSuite is laser-focused on delivering the best cloud-based ERP solution to its customers. Therefore, they only offer a single data model. The company serves roughly 21,000 customers.
Infor CloudSuite has six different options to choose from. Roughly 14,500 customers use CloudSuite for their business software. Only 20% of them are in the cloud.
Deployment/Platform
NetSuite offers seamless upgrades to its software and automatically rolls it out, keeping everyone updated with the latest security patches, innovative upgrades, and bug fixes. The program supplies live real-time data as it is happening.
Infor CloudSuite upgrades need to be manually performed by a trusted partner. Therefore, customers are on different versions. The system requires ION (Intelligent Operating Network) to run, which makes customizations challenging. ION places an additional layer (often referred to as middleware) between the database and modules, meaning it takes longer to view data.
Pricing
NetSuite is on the upper end in terms of pricing of all ERPs, but this is due to it's comprehensive set of features. It is the true best in class ERP system, so sadly you have to pay the price for this. Licenses can start from approx $1500 per month, and can increase to up to $100,000 per month depending on your business needs. However, there are many ways in which you can reduce these costs, including purchasing your software at the end of financial months/years when heavier discounts are available, and starting off with the base package you need and adding on modules/users if and when is necessary. Check out our NetSuite pricing guide for more information, or use our NetSuite pricing calculator to get a quote from one of our experts!
Infor Cloudsuite is the cheaper option, at a one time payment of approx $795 per user.
Financials
NetSuite is named a leader in Gartner’s MQ for Cloud Financials. Along with the typical functionality to handle accounts receivable, accounts payable, general ledger, financial statements, and bank reconciliations, NetSuite financials also offers:
- Financial consolidation to house multiple entities under one financial umbrella.
- Globalization/localization for companies that have warehouses or production facilities in other countries.
- Subscription billing for long-term product supply.
- Dashboards and KPIs to get a Birdseye view of where your company stands at any time and evaluate how well you are doing.
- Customizable reports using templates to refine your view of any aspect of business and keep tabs on productivity and efficiency.
Although Infor CloudSuite offers consolidation, dashboards, KPIs, and subscription billing, the program lacks localization, customizable reports, and revenue recognition. Customers have issues with rolling up country reports to a specific region.
Supply Chain Management
Supply chain management is critical to many types of businesses. Some of the supply chain management features included with NetSuite are:
- Order Management
- Production Management
- Inventory
- Warehouse Fulfillment
- Procurement
CloudSuite includes most of the functionality above; however, the order management features are lacking. Additionally, some of the supply chain features use third-party add-ons instead of native built-in functionality.
Manufacturing/Production
Manufacturing and production companies require specific functionality to run operations. Some of the features and automation included with NetSuite to make these businesses more efficient include:
- Work Orders and Assembly
- Work-in-Progress (WIP) and Routing
- Demand/Supply Planning and Forecasting
- Materials Requirements Planning
- Configurator
- Quality Management
All of these functions are seamlessly integrated with the overall ERP solution touching all areas of the company.
CloudSuite includes similar features; however, it uses add-on products with limited capabilities for demand/supply planning and forecasting and configurator functions.
Customer Relationship Management
Customer relations are the lifeblood of any company and critical to its success. CRM functions built into NetSuite include:
- Sales Force Automation
- Customer Service
- Marketing Automation
- Sales Reporting and Analysis
Within each of these categories are tools and resources to automate routine tasks and improve the overall customer experience while driving new sales.
Infor CloudSuite only covers customer service and sales reporting and analysis, and uses subpar add-ons for its sales force automation and marketing automation functions.
Professional Services Automation (PSA)
Professional service organisations benefit from various types of automation. Some of the tools included with NetSuite to serve these types of businesses include:
- Project Management
- Project Accounting
- Resource Management
- Timesheet Management
- Expense Management
- Billing
- International Data Warehouse
Infor CloudSuite offers similar features; however, their project management tool uses an add-on that does integrate with MS Projects.
Omnichannel Commerce
Nowadays, it's not enough to market your products and services using one platform, omnichannel support is essential. NetSuite offers true unified omnichannel support in real-time. The program includes robust native B2B functionality, embedded promotion tools, and content management tools.
Infor CloudSuite includes features to handle promotions and content management features, but it lacks strong B2B features and unified omnichannel support employing add-ons for some of its functionality.
Human Capital Management (HCM)
Managing your workforce is one of the most crucial aspects of any business, and software that makes it easier is an asset.
NetSuite offers the following HCM features:
- Unified Human Resources Management, Payroll, and ERP platform.
- Workforce Reporting and Analytics
- End-User Configuration/Customization
- Global HR
All of NetSuite's modules were designed to work seamlessly together to share information and keep everyone on the same page.
CloudSuite offers some human capital management features but is not a unified system. They use add-ons for HR, payroll, and ERP functionality.
Speed & User Friendliness
NetSuite is a true cloud based ERP solution, so it's hosted through the internet. As such, it's speed is very much dependent on your wifi strength, but overall reviews are that the system is quick and the interface is easy to use.
Infor Cloudsuite can be either on-premise or cloud based, however reviews have noted that the system can often be slow, due to its several versions and some being very old. Users have reported that it's interface is ok to use once you learn, but is quite dated and unintuitive. There have also been reports of data going missing, so if your industry has very strict data compliance regulations, then Infor Cloudsuite probably isn't the one for you.
Comparison Conclusion
Infor CloudSuite offers a lot of features and functionality in its ERP solution. However, their cloud option has not been around as long as their on-premises product, and it uses a lot of add-ons to flesh out the system. It's not a unified system.
NetSuite is an entirely cloud-based unified ERP solution developed using a single code base, making it easy to add new modules, customize built-in features, and extend the program through integrations. It's lightweight, secure, private, and cost-effective.
How to Decide on the Best ERP Solution
Deciding on the right ERP solution can take time and be frustrating. There is a lot to consider. Once you implement an ERP solution, you may use it for many years. The decision is not to be taken lightly. Some things to consider when making your choice include the following:
- How quick and easy will it be to deploy?
- How secure and private is the platform?
- Do the features line up with your company goals?
- What are your training and support options after the sale?
- Is the software scalable, and can it grow with you for many years?
- Who will handle customization and upgrades?
- Is the solution easily customizable to fit your needs?
- Will your chosen option require strong IT skills to run and maintain?
- Does the program integrate with other business software so you can continue to use your existing workflows?
- Does the vendor have a strong reputation, and how long have they been in the ERP business?
- Do they have a strong partner/reseller network that you can rely on?
- Does the solution fit within your budget, and is it a good value? What are you getting for your money?
- What does the implementation process look like, and how will it impact your company?
These are just some of the questions you will need to ask yourself before making a decision. It often makes sense to work with a reputable solution provider to help answer all your questions and guide you toward the right solution for your business.
Work with Threadgold Consulting
Threadgold Consulting is the leading Oracle NetSuite partner in Singapore and the U.K. We have been working with companies like yours to help them implement the right ERP solution for the long term.
We have a fantastic team of experts ready to help you with software implementation, decision-making, planning, and business strategy.
Contact us today to discuss the best ERP solution that fits your business needs, goals, and budget.
