NetSuite Software Comparison

Posted on by TJ Van Voorhees

NetSuite Software Overview

netsuite accounting software
The number one cloud based ERP program that merges accounting, CRM, and inventory planning. NetSuite targets mid level businesses with rapid growth as well as large enterprises looking to streamline the data management of their core business processes.

NetSuite Pricing

NetSuite starts at $499 per month for the base package, and charges an extra $99 per additional user.

NetSuite Features and Strengths

  • Multicurrency
  • Automatically does depreciation of fixed assets which must be manually done in QuickBooks
  • Multitude of functions besides accounting:
    • Ecommerce
    • CRM
    • ERP/supply chain management
    • This can be managed by QB but only with add-ons that cost extra and have connectivity problems
  • Connection to Email
  • Role based integration allows different employees to have personalized access based off of function in company i.e. CEO; CFO; Accounting; Marketing
  • Real time reporting and auto reconciliation
  • Dashboard allowing for quick overview versus QuickBooks’s reports

NetSuite Disadvantages

  • Limited tax functions
  • Online based only
  • Not supported in Mac and Mobile platforms
  • Unable to record billable hours
  • Does not allow check printing
  • Some functionality lost for the purpose of keeping the program simple and easy to use
  • Limited technical support staff
  • With a focus on doing every business role, NetSuite cannot do every feature to the best of its ability like programs that focus solely on accounting or CRM
  • Limited customization possibilities (not industry specific)
  • Converting to NetSuite From QuickBooks

    NetSuite has a conversion program to easily upload files that have been exported from QuickBooks. This being said however, they both represent the data in different forms and thus many tedious manual entries may need to occur to successfully convert to NetSuite. Additionally, these uploads have a cap on data so one must upload several chunks of data instead of doing it all at once. This chunking of data also presents its own problem as skipping or double counting can occur causing more manual entry and data checking.

    Converting from NetSuite to QuickBooks can be just as cumbersome. Although it is possible to download all the files from NetSuite and then re-upload them to QuickBooks, this can cause the same issue of missing or double counting data, which requires tedious manual entries to fix.

    Both companies offer services to do this for you, and there are a multitude of third party companies that specialize in this, but the problem is that they will not be familiar with your company, which leaves room for costly mistakes. These services often approach the problem the same way someone in house would, so what you are paying for is tedious manual data entry.

    Conclusion

    NetSuite is the jack of all trades. With its combination of accounting, CRM, ERP and ecommerce programs, its functionality outweighs QuickBooks hands down, however because NetSuite puts such an effort into being able to do everything, some features and functionality must be sacrificed. NetSuite is perfect for medium to large sized companies looking for a program that integrates all business functions. There is no customization by industry which makes some of the features useless depending on the company. Overall, NetSuite is an expensive program, but if your company can utilize all of the features, it will be better off with NetSuite.

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    Xero Accounting Software Comparison

    Posted on by TJ Van Voorhees

    xero logo accounting review

    Xero Accounting Software Review

    Xero is an online cloud based accounting software ideal for small businesses of anywhere between 1-100 employees. It is also good for Service businesses, such as freelancers, professionals (i.e. lawyers and doctors), as well as consulting firms and out of house accountants.

    Continue reading “Xero Accounting Software Comparison” »

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    Posted in Accounting, Blog, Quickbooks, Startups, Systems | 1 Comment

    4 Steps to Change Company Culture

    Posted on by TJ Van Voorhees

    Whether you’ve just entered a new company and are trying to change the corporate culture, or you’ve been with the same company but are starting to see problems with your current culture that are in dire need of a fix, the steps to change corporate culture will be the same.corporate company culture change

    Company culture has become the biggest culprit for problems associated with employee behaviors and performance. While not always to blame, the impact of company culture is huge. Your company culture dictates the different incentive programs at your company, decision making processes and the behaviors of employees. Changing company culture is no small feat. If you’re attempting to change your company’s culture there are four factors that you need to focus on. Continue reading “4 Steps to Change Company Culture” »

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    How Do You Measure Company Culture?

    Posted on by TJ Van Voorhees

    Businesses spend million and millions creating and changing a company culture that drives innovation and fosters growth. Yes, I could use Google as a prime example of a company fostering an amazing culture, but what about AOL? The once pioneer of web browsers and dial-up modems has spent a considerable amount of money buying TechCrunch, Huffington Post, and restructuring and rebuilding their company culture, including their offices. They ripped out the corporate facade and went with something more, friendly and down-to-earth. But ultimately, how can you truly measure your return on investment on something as complex and variable as company culture?

    stormtroopers company culture twerking

    If company culture was measured by StormTrooper dance offs, these guys would get an A+

    Measuring the happiness of your employees and the impact your company culture has on business is not easy. But it starts with honesty. One approach to measuring the performance of your company culture is surveys. Sending out surveys to your employees with questions that help you gauge how far your culture has grown and its impact on business processes. However, with surveys you always run the risk of employees not completing them due to time or other priorities. The best way to find success with surveys is to send several shorter 1 or 2 question surveys out regularly. Although this is a very traditional approach to measuring culture, it is still considered to be very effective.

    By far the most popular survey to measure the effectiveness of company culture is Gallup’s 12 Steps to Great Managing. This is a 12 question survey using a 10 point scale to measure company culture.

    gallup 12 question survey to measure company culture performance

    These 12 questions are the most basic and core questions used to define and evaluate your culture. As your company grows or defines different values that you try to measure, you can add or switch out various questions to establish metrics for measuring the performance of the different values of your culture.

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    Driving Innovation Through Your Company Culture

    Posted on by TJ Van Voorhees

    building an innovative cultureAccording to the Human Capital Institute (HCI), by focusing on your company culture you can improve financial growth and performance by at least 14-17%. By creating a culture of innovation, you put your business in a position where it consistently reinvents itself and sets itself up for success similar to Apple, 3M and General Electric. Building an innovative culture is more than just putting the right metrics into place, just like with any building it starts from the foundation. And from the foundation you continue to build brick by brick. Continue reading “Driving Innovation Through Your Company Culture” »

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    Creative Employee Retention Ideas

    Posted on by TJ Van Voorhees

    When it comes to employee retention, some companies know no bounds. Yes, it’s true that losing an employee can cost anywhere from 1.5 to greater than 2 times the salary of the employee, but paying for your employees laundry, having sleeping pods in the office, is this maybe going a little too far? Some of these radical ideas seem like they can become costly business expenses, or even may harm he culture of your company, but does that outweigh losing one of your star employees? Check out this list below for some of the more creative employee retention strategies, and you can decide if some of these ideas might be too over the top, or just right for you. Continue reading “Creative Employee Retention Ideas” »

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    Why are so Many People Quitting Their Jobs

    Posted on by TJ Van Voorhees

    According to the Job Openings and Labor Turnover Survey, roughly 2.4 million people are quitting their jobs. Even though the number of job openings has increased to approximately 4.5 million, it’s still alarming to see so many employees willing to leave their current organization. Even more alarming is that the increase in the number of job openings hasn’t changed the hires rate. This means that it has become harder to find qualified candidates to take on these new roles. Continue reading “Why are so Many People Quitting Their Jobs” »

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    Tips for Improving Employee Retention

    Posted on by TJ Van Voorhees

    According to a report by Gallup, 70% of the American workforce is disengaged. With such a high level of disengagement and the prevalence of social media, you can bet that your disengaged employees are also evaluating one of the many offers that recruiters are sending their way. How many offers is it going to take before you lose one of your prized champs at your company?

    If you’re one of the many managers who think your fresh new hires aren’t in danger of becoming disengaged, then think again. And if you think it’s already too late and you’re going to lose your employees, then think again! It is never too early or too late to get your employees engaged or to recognize your employees for their hard work to increase your chances of retaining them.

    Here are our tips for retaining your top performing employees:

    1. Make sure that everyone has a clear understanding of their role in the organization, what is expected from them, and how their work impacts the company as a whole. Include these details in the job description for extra clarity when hiring.
    2. Boredom is your worst enemy. Your most talented employees most likely possess many skills, so when they’re hyper-focused on a single task they may experience work fatigue. Avoid this by taking advantage of their wide skill sets and allow them experience other jobs in the organization or collaborate on projects that involve multiple departments so they can get the extra mental stimulation that they need.
    3. Don’t just leave your employees hanging. Provide everyone in the organization with the tools that they need to succeed. It’s not enough to just know the strengths of your employees, you also need to understand that they may need certain software or other tools to do their job.
    4. Have clear channels of communication. Make sure that everyone in your organization has a clear understanding of company goals and that they are regularly updated with any changes or shifts in the metrics needed to reach those goals.
    5. Publicly recognize your employees for great performance, and give personal encouragement when needed. The “high-five” was invented for social recognition. It’s a flashy motion, high in the sky, with a loud thunderous clap when performed correctly. It draws attention. Don’t be afraid to give your employees a high-five for being awesome at their jobs.
    6. Don’t be afraid to let go. When I say “let go” I don’t mean let go of some of your control. Allow your top performers to start to develop and cultivate their own talent within the organization.
    7. Give some flexibility. Avoid employee burnout by letting them work off-site every now and then. Letting them have a change of scenery will help them stay be more productive and let them know that you care about their well-being and happiness.
    8. Reward high-performance. Have your employees consistently been going above and beyond and crushing their numbers? These are the employees that you can’t risk losing. if they continuously perform at a high-level don’t be afraid to give them a raise before the year is up. Yes, performance bonuses are great, but most employees, especially your young talent is going to be looking for that salary bump. You’re better off giving it to them early if you know they’re worth it, otherwise someone else well.
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    How to Track Employee Performance

    Posted on by TJ Van Voorhees

    You’ve worked methodologically to make the best hires and avoid common pitfalls of hiring. The productivity superstars who were your best candidates are now your staff members. How will you validate your claim and determine who is producing on your team? To keep your company on track, you’ll have to employ tracking analytics. Continue reading “How to Track Employee Performance” »

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    How to Create a Career Development Program for Employees

    Posted on by TJ Van Voorhees

    Your greatest asset isn’t your intellectual property, your revenue generating technology, or your cost-cutting software. It’s your employees. Nothing can influence your company’s growth better than you or your team. Because your team is essential, you should actively support the growth of your employees. Once you’ve hired the best team and established metrics for tracking performance, it’s time to create an employee career development program. Doing so will put you ahead of the employment curve because your employees will know what’s next and want to continue to succeed at your company. You’ll hold onto your best performers and grow from the inside, confidently promoting from within. You’ll earn the respect of your employees because they will feel essential to your cause. Continue reading “How to Create a Career Development Program for Employees” »

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    Posted in Blog, Performance | Leave a comment