NetSuite vs Intacct is a hot subject for discussion. The comparison between NetSuite and Intacct is very popular because of the progressive growth of online accounting in the market. Internet accounting environment is crucially handled by three major players. They are NetSuite, Intacct and the QuickBooks Edition online. However, NetSuites and Intacct provide pure application services. They are also designed exclusively for online accounting use.
Netsuite vs Intacct: The Major Differences
Intacct is a solid accounting system. It includes the general ledger such as accounts receivable, accounts payable, etc. It is responsible for the functioning of fundamental operations. NetSuite is also very powerful and it has a single transaction model of accounting. While considering the accounting processing model, Intacct is more batch-oriented. On the other hand, NetSuite provides a large view of business. It is possible because NetSuite combines CRM and ERP, which enables a 360 degree view of operations, accounting, marketing and sales. This is the major difference between Intacct and NetSuite in accounting.
Shopping cart sales platform and native online store are the unique peculiarities of NetSuite. But, Intacct lacks these features. Ignite E-commerce capability is the recently released technology of NetSuite.
Wholesale and Manufacturing
NetSuite is very strong in areas such as wholesale and manufacturing. Therefore, it can provide more efficient inventory management. As this software has both the properties of ERP and CRM, NetSuite is very popular in this market.
CPA Use Model
The customers of Intacct are traditional CPA firms. The small business clients need basic financial reporting and bookkeeping. Traditional CPA firms also run financial reporting and books for their small business clients. Therefore, Intacct targets on these customers and it is organized for meeting these types of needs as well.
On the other hand, the services provided by NetSuite are different. The OneWorld of NetSuit is designed for handling the multi-company operations. It is also highly effective for companies, which have multi-company organizations and multi company subsidiary. These companies need consolidated statements and other types of documents all the time. Therefore, NetSuite is very useful for multi operations companies and Intacct is suitable for CPA firms.
If you consider all these factors, you will reach in a conclusion that NetSuite is more mature platform than Intacct. The platform of NetSuite is more extensible and it is capable to build a solid community of partners and users. Though intacct is a newer platform, they are also broadening their partner and user base.
However, there is a major difference between Intacct and NeSuite. As a fully integrated system, NetSuite offers a wide range of business functions. On the other hand, Intacct doesn’t have these capabilities. If you want to select the best software platform, you must analyze the current and future market situations very carefully. You must select the best tool, which satisfy all your requirements.
In a nut shell, the most obvious difference between Nesuite and Intacct is that, the former is an integrated system between CRM, ERP and eCommerce. If you need the similar functionality in Intacct, it requires additional integration. Whatever may be the conclusion of online debates, the discussion on netsuite vs intacct still goes on.