How Sage Intacct and Oracle NetSuite Differ
We have previously covered what similarities there are between the two products. However, there are numerous differences between the financial management software packages. Whilst one is more specific and focused on its audience, the other is more of a general nature.
Adaptability and Integration
The first and most influential difference in features is the adaptability that Sage Intacct provides. This is in the sense that if you operate with NetSuite, your team and various stakeholders must all operate on the NetSuite system. NetSuite tries to fit the whole business experience into one – hence “Suite” in the name. NetSuite fits customer relationships, enterprise resource planning and accounting modules. Anything outside of this could be difficult and expensive to set up.
On the flip side – Sage Intacct has a flexible and well documented API making integrations to other platforms simple. This allows it to stay to its “Best-of-Breed” status. Almost 75% of Sage Intacct customers integrate their systems with at least two other Cloud software platforms. In fact, Intacct has a dedicated marketplace for additional programs that can integrate.
One of Sage Intacct’s biggest selling points is their custom Report Writing tool which gives you full customisation of financial reports and statements or the ability to create from scratch. This is where multi-dimensional accounting really comes into its own, being able to report by location and department within a few clicks and filters. All data is real-time, without the need to “close the books” in order to get the data you need. Intacct allows for reports to be in custom dashboards, with powerful drill-down capabilities to make decision making quick and efficient.
NetSuite sticks to its standardised out of the box reports which are sturdy and have good drill-down capabilities. However, they may not meet the specific needs of your industry. To make full customisations to your reports you would require Oracles enhancement pack which is an additional cost.
Sage Intacct is the first and only software solution promoted by the American Institute of Certified Public Accountants. This has been in effect since 2009. This shows how respected Sage Intacct is with professionals and the bodies that represent them. Additionally, the AICPA does not give out product promotions easily, which just shows how good Sage Intacct is at performing its function.
Sage Intacct has been named leader within Worldwide SaaS and Cloud-Enabled Midmarket Finance and Accounting Software supplier assessment by IDC Marketplace. IDC MarketScape is regarded as one of the industry’s premier supplier assessment tools providing quantitative and qualitative assessments within the technology market so their thorough research conclusion should not be dismissed.
The crucial difference between these two powerhouses is the customer reviews, provided by G2, which are an independent business software review platform. If you look at the responses provided, there is a clear winner. Sage Intacct beats Oracle NetSuite in nearly every category. From general ratings, features, accounts receivable, accounts payable, reporting and analytics, platform, and integration; Sage Intacct is head and shoulders above the competition.
So, Which is Right for You?
At first glance, Sage Intacct and NetSuite seem very similar in nature. Their basic purpose is achieved through the ability to customise their layout for the individual, the provision of advanced functionality for complicated firm structures, and they are linked to the Cloud. However, they are by no means identical. Whilst NetSuite comes in the form of a “jack of all trades, master of none” system, Sage Intacct is much more specific in the way it assists your firm. It is this focus on the services industry and the finance team in particular that gives Intacct the edge over NetSuite.
In the end, the system you get is down to your individual needs. If you intend to fully integrate your accounting system with one singular product, then you may prefer to get Oracle NetSuite. Alternatively, if you are looking for a best-of-class accounting software package, with the capability to integrate with your already established systems, then Sage Intacct is your ideal solution.
If you are still at loggerheads between the two options, then feel free to contact us, we are always happy to help! If you would like to explore Sage Intacct more, you can watch our on-demand Sage Intacct webinars, read our Sage Intacct blogs or learn more about Sage Intacct modules.