If you’re on the hunt for a business management software, then keep reading for my comparison of Netsuite VS Workday®.
Today’s business environment is rapidly changing. Once, the legacy financial systems were the backbone of accounting departments. However, these systems are not capable to meet the increasingly demanding requirements of today’s business world. Every business organization needs the best business system for managing its expanding operations.
Traditional ERP systems were created specially for addressing financial accounting needs. They do not have the ability to meet the requirements of today’s business world.
Business organizations’ search for better financial information ends with NetSuite and Workday®.
Let’s dive in.
NetSuite
NetSuite provides cloud based business management software all over the world. It helps companies to manage their core business processes. This is a fully integrated single system, which covers ERP/financials, inventory, eCommerce and many more. NetSuite is used by over 16,000 highly organized to midsized companies. It is also a preferred choice for divisions of larger enterprises. The companies use this software for running their business effectively. It is also highly effective for reducing cost and improving efficiency of employees. This software is also using to automate operations, performance improvement, access real time business information at anytime, streamline processes, etc.
Besides, NetSuite provides some industry specific solutions for eCommerce, manufacturing, wholesale distribution, software, and professional services. Global multi-company organizations use NetSuite OneWorld for managing their subsidiaries effectively with robust multi-currency, multinational support.
However, NetSuite has certain disadvantages. The manufacturers of this software should improve the intuitiveness of this product for keeping its superiority in the market. The cost of getting customer support is also very high. The company charges additional recurring fee from the users. The product is also facing lots of problems such as product instability issues, system overtime, constant price escalations, poor customer support, etc.
Workday®
Workday®, a web based ERP software, helps management to oversee employee data, financial accounting, expense management, procurement, and time tracking. It provides integrated modules for business and human resource management to its customers. Launched in 2005, it specializes in financial and human capital management, expenses, payroll, and talent management applications. Workday® helps you to do your work at any natural place, which include during your commute, in a meeting, on a flight, or at workplace. The casual users can also use the workday® applications very easily because it is designed in a very simple yet robust way.
NetSuite VS Workday®
Finance is a stronghold of NetSuite. But today, Workday® is moving towards it aggressively. The competition between Workday® and NetSuite is very high in companies with 1000-3000 employees. Workday® concentrates on multiple enterprises through human capital management software. It also focuses on the financial expansion of companies. On the other hand, the financial foothold of NetSuite is very strong. Now, this software moves to up market through two-tier ERP. The financial business operations of Workday® are in the nascent stage. Now, it started working with smaller companies. The business suite of NetSuite is broader than ERP.
In short, NetSuite is the preferable choice for large companies and international business organizations.