82% of small businesses and 58% of enterprises use cloud accounting. In construction, it is important to have good software when it comes to accounting. A future-forward system should make every process easier and accessible for your employees to use.
While researching software options for an accounting ERP, you may have come across Oracle NetSuite and Sage Intacct and don’t know their similarities and differences. When looking for cloud-based accounting software, you need to compare them to see which one is best. After all, you wouldn’t want to come across one that would be too difficult to train employees on or does not have the right functionality.
Having a successful business means having the right accounting software that saves you both money and time. In this blog, we will compare Sage Intacct and NetSuite. Continue reading to know which one will check everything off your list!
What Is Oracle NetSuite?
Oracle NetSuite is a cloud-based software suite for enterprise resource planning. NetSuite provides real-time insights so you can tell how well your business is doing. With NetSuite, you only have one sign-in portal.
NetSuite also has automatic updates, which will save time on having to do them manually.
There are several features of NetSuite. As NetSuite is an ERP, it has the basic features that every ERP should have, such as accounting, inventory, and order management in a cloud system.
The second one is customer relationship management (CRM). It will help you keep up with your customers, prospects, and vendors in one place.
The third is planning and budgeting. This allows for collaboration, so nothing will be missed by another employee. They will have access to plans, worksheets, and documents.
What Is Sage Intacct?
Sage Intacct is one of the best cloud-based accounting solutions out there. This software helps your business increase operational efficiency, manage costs, and gain real-time insights into your financials. In short, Sage Intacct helps you improve your productivity and profits.
With automatic updates being regular, you can be sure that you are running the most up-to-date software possible.
Sage Intacct promotes visibility has you have access to a range of reports and dashboards that are unique to your business needs; you will always have the right data that you want.
Sage Intacct Features
There are many features of Sage Intacct that will benefit your business and streamline your processes.
The first one is accounts payable, which will make AP processing easier. It allows you to automate your manual accounts payable. You can check your liabilities and check financial reports in real-time.
The second feature is accounts receivable. Sage Intacct allows you to get paid faster so you won’t be waiting days for the funds to be transferred to you. It will have the accurate sales tax, so you won’t have to worry about human error. It will also allow you to email your invoices.
The third feature is allocations management. This allows you to drop the need for spreadsheets. You can divide your indirect costs, assets, and liability amounts among many dimensions.
The fourth is planning and budgeting. With this, everyone who has access to the budget and planning will be able to see when it is changed. They will also know who has made the changes.
This keeps it so you can keep track of who entered what. If someone enters the wrong number, it can be fixed as soon as it is noticed by another.
The fifth one is dimensional general labor. It is multi-dimensional and tracks all data such as locations, customers, and projects. All you would have to do is click on the dimensions that you want to show and there it is.
What Is ERP?
An ERP is an enterprise resource planning tool that has many applications to help in automating your business operations.
An ERP uses a single database, which means users have an easier time collaborating with others. It goes without saying that it’s important your ERP is implemented correctly by a value-added reseller that you can depend on.
Sage Intacct vs. NetSuite
Although there are some basic accounting features that Sage Intacct, and NetSuite have in common, there are vast differences that can impact construction companies.
What Makes Them the Same
Both have automatic updates, which is good when you don’t need to focus on when the updates are needed. They are cloud-based.
They have no noticeable disruptions. They can handle multiple entities from around the globe, no matter the currency.
They will grow as your business grows, so there is no need to move from them if your business gets bigger.
What Makes Them Different
With NetSuite, everyone has to be on the same system. This can get costly as it goes on. This is where the term “suite” comes into play. With Sage Intacct you don’t have to worry about this.
With Sage Intacct’s open API, it makes the system flexible and well documented. This makes integration simple when it comes to other platforms.
NetSuite is standardized when it comes to reporting where Sage Intacct is not. This makes Sage Intacct’s reporting feature superior.
The American Institute of Certified Public Accountants promotes Sage Intacct as their preferred cloud accounting software solution.
What Other Features does Sage Intacct Have?
One of the other features is that you can simplify your fixed assets. The information will be shared with your general ledger, accounts payable, and purchasing. It will automate your system and make it easier.
Another feature is being able to see how much the cost is day by day. You will have a clean export process when moving it to Excel. The report writer is also easy to use.
You can get real-time visibility, reports and dashboards that improve accuracy. You can access the metrics that you need at a moment’s notice.
If you have project management, CRM, and operations, you can save time and money instead of having to pay more for a single integration.
Why You Should Pick Sage Intacct
There are 64% of businesses that do their own bookkeeping, which doesn’t save money in the long run. Unlike NetSuite, where it would be expensive with the more data and users you need, Sage Intacct will save you money.
Sage Intacct will be there to make your process easier so you can focus on helping your clients and your business succeed. Having the ability to integrate with other applications can make things easier.
By not having to move files around individually, you can be sure of having the correct information at any time. You won’t have to deal with a file being corrupted.
Make the Best Decisions for Your Business
Now that you know some of the differences between Sage Intacct and NetSuite, you can make a decision on what is best for your business.
There are many things Oracle NetSuite and Sage Intacct have in common, like automatic updates, however, the integrations and functionality that Sage Intacct has to offer will future-proof companies in the construction industry and set them up for success.