Author: Jareer Shamsi

NetSuite Analytics Warehouse (NSAW), the very first and prebuilt AI-enabled cloud-based data warehouse and analytics solution for NetSuite, consolidates business data, built-in analytics, and AI/ML models to deliver powerful insights that could accelerate informed decision-making and transform them into actionable outcomes.

By merging historical and financial data from NetSuite, CSV files, and other databases into a cloud data warehouse, NSAW simplifies the task of transferring data as it adopts a cost-effective approach of automating these processes. Powered by Oracle Autonomous Data Warehouse, NetSuite Data Analytics Warehouse offers automated scalability, optimization, and advanced data analytics. Instead of analyzing data in silos, NSAW shifts the focus of users towards a workflow-wide perspective that could help them recognize emerging market trends and make truly informed decisions. 

To optimally enjoy the benefits of NetSuite Analytics Warehouse and completely understand its integration with your existing framework, it’s essential to gain a comprehensive guide. The following blog covers all the key features and functionalities of the NetSuite data warehouse.

What is Data Warehousing In ERP?

Data warehousing in ERP is the process of collecting and storing a large volume of business data, primarily from an ERP system, in a centralized database commonly referred to as a data warehouse, for efficient evaluation and business insights.

While an ERP system plays its role in automating day-to-day business operations to increase efficiency and enhance productivity, a data warehouse is used for long-term data storage for analysis and a faster reporting process. 

What is the NetSuite Analytics Warehouse feature?

With NetSuite Analytics data warehouse, you are able to get in-depth insights into your company’s historical data from multiple sources, making you well-informed on how you can improve your business operations. To make the right use of the software, it is essential to enable the features to start transferring your data to the Analytics Warehouse. It is only after that that you can consolidate your data with other sources and evaluate it with a wider range of visualizations. 

To enable the NetSuite data warehouse feature, you need to follow the steps:

1. Navigate: Setup> Company> Setup Tasks>Enable the feature
2. Click the Analytics subtab
3. Enable the NetSuite Analytics Warehouse feature

Your Analytics Warehouse account is now being configured, which might take some time. After its completion, the integration record of the NetSuite data warehouse will be automatically generated. 

After the above steps are completed, resume your setup by adding users and activating your data transfer. Adding users enables them to access the complete database of information that is transferred to the Analytics Warehouse.

Furthermore, to integrate NetSuite’s data with the Analytical Warehouse, you need to select relevant functional areas that need to be included. This is done as follows:

1. Navigate: Setup> Integration> NetSuite Analytics Warehouse> Configuration
2. Go to NSAW Data Transfer setup
3. Select the data from which the data needs to be transferred
4. Select the subsidiary and the functional areas that are to be included in the transfer

Please note that data from your selected areas will be refreshed automatically every 24 hours. The first transfer might take longer, but after that transfer takes place daily after every subsequent increment 

Discover the Key Features and Benefits Of NetSuite Analytics Warehouse

Let’s take a look at the core features that NetSuite Analytics Data Warehouse offers:

• Designed to seamlessly integrate with the Oracle NetSuite
• Manages data from multiple locations to give extensive insights into the business operations
• Uninterrupted data transfers
• Built-in analytics features like dashboards, KPIs, reports, and visualizations to fulfill a wide range of business needs.

NSAW empowers businesses to make faster, cost-effective decisions by offering the following key benefits:

• Pre-built AI capabilities: With built-in AI features, NSAW validates, centralizes, and collects data from multiple sources, ensuring the reliability of data. The AI features continuously run in the background, minimizing human error and delivering quicker financial and business insights through incorporating pattern and outlier recognition, and automating the process of supply and demand forecasting. AI is therefore able to accurately uncover trends, provide real-time reports, and evaluate all the current and historical information. 
• Elimination of Technical Expertise: Since NetSuite has a built-in capability, it significantly reduces the need for specialized and extensive IT skills required for manual coding. Instead, it offers cost and resource-efficient benefits that significantly enhance teh effectiveness of business operations. 
• Accessible Analytics: With its built-in analytical capacity, NetSuite Data Warehouse encourages quick and independent insights into all key business data without having to rely on technical or IT teams.
• Automated Reports: It was a huge hassle in the past to create manual reports. With NSAW, self-serve reporting has incorporated extensive customization features along with visually appealing dashboards, simplifying the task. Reports are automatically updated with any changes without the need for the user to rebuild them and invest additional time. Since all the reporting is presented on one screen and all data from multiple sources is collectively available, it eliminates the need for users to navigate across platforms to spot inefficiencies and find growth opportunities. 
• Enhanced Regulatory and Compliance: The platform ensures high standards of maintaining confidentiality and therefore protects all sensitive business data when storing or evaluating it from multiple software systems and NetSuite ERP systems. 
• Performance Optimization: Effectively helps in evaluating inefficiencies and potential opportunities across business units. 

Different Analytics Options To Consider As A NetSuite Customer

Integrating with NetSuite offers various benefits that are primarily based on the provision of real-time data insights that could help in making well-informed decisions. There are four different analytics options that NetSuite customers should consider and must select the one that fulfills their specific requirements. 

1. NetSuite Analytics Warehouse: If you have a large database and run a NetSuite-centric business, then a NetSuite Data Warehouse is a smart option for you. 
2. NetSuite SuiteAnalytics: If you have budget constraints and have NetSuite-specific analytical needs, then NetSuite SuiteAnalytics is the right option
3. NetSuite SuiteQL: This is widely opted for when you just want a subset of analytics data.
4. Own data warehouse and Estuary Flow: If you already have a data warehouse, but have limited options to transform and load NetSuite data, then Estuary Flow provides a no-code connection to NetSuite with integration from both SuiteAnalytics Connect and SuiteQL options. 

Final Words

NSAW should be among the most prioritized investments for data-driven decisions from real-time and accurate insights into the market trends. The evolving workplace requires high-standard technical expertise to thrive in the digital world. However, NSAW plays a self-serving role used with little or no technical expertise as it has pre-built AI capabilities, making it a cost and resource-efficient tool for companies. 

Once the data is efficiently stored in a central database with easy access to all NetSuite users, employees can effortlessly make well-informed decisions and address the business problems. As a NetSuite ERP solution provider, we have practically evaluated that integration of data with just NetSuite ERP is not sufficient to give you accurate insights, but the capability of understanding and analyzing that data and comparing it with the market trends can result in a meaningful output for your business. This is where companies realize the importance of NSAW and consider it as their strategic investment. 

NetSuite is a cloud-based ERP software that provides sufficient incentives to businesses. Saved search in NetSuite is among its most valuable functions, encompassing a complete suite of financial, inventory, and customer relationship management tools, which significantly enhances the company’s productivity and ensures that the company has up-to-date information in all domains.

A NetSuite saved search is an essential feature for businesses that want to gain real-time analytical data to enhance their business operations. Creating saved searches in NetSuite enables users to search and filter from huge sets of data through which they can generate unique and customized reports, spot the ongoing trends, and make well-informed decisions based on the current information.

How Saved Searches In NetSuite Make A Difference in Your Business

NetSuite Saved Searches impact your business operations by serving all the different domains with each type best suited for the specific needs of specific departments. As one of the powerful tools in the NetSuite implementation service, saved searches allow users to retrieve, filter, and analyze real-time information across all modules. The following saved searches are frequently used by companies within NetSuite to optimize their operations.

• Activity Search: Within the Oracle ERP processes, NetSuite activity saved search records tasks, events, phone calls, and all the important business events and customer engagement. This enables users to gain insights into the business processes and make informed decisions. ,
• Customer Search: NetSuite’s Customer Search tool stores crucial information such as employees’ contact details, purchase history, and payment terms, which can be filtered, sorted, and grouped in various ways. These saved details can be used anytime in the future to analyze and evaluate the data and make an informed decision.
• Item Search: This feature saves a record of items based on their pricing, sales, stock levels, and other relevant information so that the product history can be easily evaluated anytime, and the company can evaluate the performance of all its products and services.
• Opportunity Search: Stores information about potential sales, the probability of winning the deal, and further identifies top-performing sales and analyzes the company’s sales performance.
• Task Search: The feature enables users to filter data based on task type, status, and priority. This tracks the work performance and enables the company to efficiently handle the appointments, phone calls, or meetings with no hassle.
• Transaction Search: The feature manages financial tasks that include creating purchase orders, sales orders, and invoicing. This further enables the handling of cash flows and the recording of revenues and expenses in a timely manner.

Furthermore, NetSuite saved search plays a crucial role in business intelligence and automation for the following reasons:

1. Improved Data-Access Control
2. Customizable Reports meeting specific business needs
3. Enhanced operational efficiency by automating data retrieval tasks
4. Informed decision-making that closely align with the business goals
5. Increased cross-team collaboration through instant access to essential KPIs across all departments.

How To Create A Saved Search in NetSuite

For creating saved searches in NetSuite, first figure out the type of record you need to search, which might be a customer, a transaction, or an item. Secondly, specify the conditions for your search, like a specific date, and incorporate these filters to narrow down your search to get specific and desired results. You can also specify the column you want to see, like customer name or transaction type, to sort the results based on your preference.

After specifying the filters, you can save the changes and run them anytime you need. You can also automate the process that would increase the efficiency of your operations, enabling your business to stay up-to-date with the recent information.

NetSuite Saved Search- Step-by-step Guide

Start with an easy yet descriptive title. For this example, we’ll name it “Bill Payments – Corresponding PO and Bill.”
NetSuite will automatically generate an ID for your Saved Search, but it’s always better to set one buy yourself so that you can remember and manage it easily later.

A helpful tip: always begin the ID with an underscore because NetSuite adds a prefix (like customsearch) automatically. For instance, if you use_bill_payments_PO_and_bill, the full ID will be customsearch_bill_payments_PO_and_bill.

If you want everyone in your organization to use this Saved Search, check the ‘Public’ box. To make it viewable in dashboards or lists, also check ‘Available as List View.’

Step 1: Define Criteria For The Saved Search

Criteria help filter out unnecessary data, so you only get the results you want. Without setting criteria, NetSuite will return all records of that type, which isn’t ideal.

Specify Transaction Type

In the Criteria > Filter tab, select the ‘Type’ field to choose the type of transaction, like Bill Payments.

Note: This is different from the overall “Saved Search Type” (which in this case is “Transaction”). The “Type” filter further narrows your search to specific transaction types within that category.

Select ‘Bill Payment’ in the popup, then click Done and Set. Now, only bill payment transactions will appear in your results.

Main Line Criteria

The Main Line setting determines if your search will show only the header (main) line or include all line items.

• Set Main Line = Yes to show only summary info
  
  
• Set Main Line = No (our case) to include all line details
  
  

Add a Date Range

You can define the range by adding dates in the “From” and “To” fields or using advanced options like “This Year” or “Last Fiscal Quarter” from the quick filters.

Step 2: Drill-into Connected Records

Some filters have three dots (…) next to them, which means they allow you to drill into related records.
For example, from a Bill Payment, you can pull in related Purchase Order or Bill information.

Step 3: Customize the Results Tab

Under the Results tab, go to the Columns subtab. Here, you choose the fields you want to see in the search output.

In this example, we’re adding these columns:

• Date
• Paid Transaction (shows the bill being paid)
• Paid Transaction: Created By (shows the related PO)
• Amount Paid
• Document Number
• Payee Name

You can rename column headers using Custom Labels. For example:

Paid Transaction → Bill Number

• Paid Transaction: Created By → PO Number
• Paid Amount → Amount Paid
• Document Number → Check Number
• Name → Payee

Step 4: Use Highlighting and Filters

Highlighting

Use this to make certain records stand out. For instance, you could highlight transactions over $10,000.

Available Filters

Available filters show up at the top of the report when it’s run. You can add filters like Payee Name to quickly narrow down results. Check ‘Show in Filter Region’ to make it visible.

Step 5: Set Audience and Access

In the Audience tab, choose who can view or use this Saved Search:

• Check Public to make it available to all users
• Or restrict it by roles, departments, subsidiaries, etc.
  
  

For this example, we’ll make it Public so everyone has access.

Final Step: Save and Run

Once the above-mentioned steps are adequately fulfilled, click Save and your NetSuite Saved Search is now ready to run and you can now see the results based on your assigned criteria and filters.

The process to create a saved search in NetSuite can be filtered with the following sections:

• TYPE: Enables you to choose the record type or the subtype that you want to create your search around.
• CRITERIA: The record type, specific data ranges, and SQL formulas that narrow down your search to a specific segment.
• RESULTS: It enables users to specify what column headers and row data should be displayed in the search.
• EMPLOYEE TYPE: This filter restricts the changes to be viewed by only the selected audience that is filtered based on the employee’s name, role, department, or group. 

How To Choose The Right Criteria For Your Business

1. Make your search specific with clear and focused filters (example: status = “Fully Billed,” date range, transaction type). This ensures faster results and information based on your desired criteria.
2. Limit columns to Essentials by only incorporating columns that are truly needed. This tip significantly reduces clutter and improves performance
3. Use grouping and aggregation formulas to get a concise overview instead of raw data.
4. Pull in hidden or internal fields via Formula, or calculate derived values using SQL functions for advanced insights.
5. Avoid unneeded connections to keep your report summarized and to the point.
6. Make sure to use clear annotations in the description or header to make it easy for other users to understand what each filter or column does.
7. Use drill-down links to make navigation easy for the users from a summarized or high-level view to detailed information with a single click.
8. NetSuite hyperlink in saved searches enables users to make real-time updates directly from the link without needing to open each record individually.

How NetSuite Saved Searches Solve Common Business Challenges

1. PROCUREMENT: The process is often complicated and labor-intensive. Thankfully, using saved searches within an ERP for procurement, like NetSuite can speed up the procedure, improve data visibility, and improve business operations.

2.     Supplier Performance Management: Saved searches enable monitoring purchase orders from specific vendors over the past years, and can also be used in tracking metrics such as on-time delivery rates and the percentage of defective or returned items

3.     Cost-effective Opportunities: It creates search lists based on purchase orders, unit price, and vendor information of all the items making it easy for procurement managers to pinpoint those specific vendors who have consistently offered competitive pricing and promotes cost-effective sourcing strategies.

4.     Automating Purchase-order Workflows: Build a saved search that identifies all approved purchase orders and enhance its visibility by setting up automated email alerts, ensuring timely follow-ups, and reducing subsequent supply chain delays.

5. Ensuring Optimal Inventory Levels: Create a search that notifies about the items that are below their reorder point, along with corresponding lead times and vendor details. This helps prevent stockouts and improves purchasing accuracy.

6. Automating Financial Control: This enables efficient workflows in key finance areas:

●      Cash Flow Monitoring

●      Cost Management

●      Audit Trail Accuracy

NetSuite Saved Search Function

There are several SQL functions available that users can incorporate to refine their search results. The functions include:

1. Count
2. Min
3. Sum
4. Max
5. Average
6. Group
7. Date
8. Case

Additionally, NetSuite’s saved search allows users to customize formulas using Numeric or Text fields that perform advanced calculations that are not performed through basic SQL functions.

Advanced Technique Of Formula In NetSuite Saved Search

In NetSuite saves search, formula fields can be used go either imit the search results more precisely or to perform operations on them.

Follow the following steps to create a formula in NetSuite saved search:

1. Navigate: Reports > Saved Searches > All Saved Searches and click “Edit” on the desired saved search
2. Click on the “Criteria” tab

1. Add a new filter by opening the drop-down menu and selecting the corresponding Formula option (Date, Numeric, or Text)
2. Write the formula using NetSuite’s formula syntax in the FORMULA box and click “Set”
3. Preview the results to ensure the formula is working correctly
4. Save and run the saved search

How To Copy A Saved Search In NetSuite

Copying a saved search requires the following steps:

1. First, go to “All Saved Searches.”
2. Navigate to the saved search you want to copy and click on its name to open it.
3. Enable the editing mode by clicking on the “Edit” button.
4. Click on the “Save As” button located at the top of the screen. This will open a new window where you can enter a name for the new saved search.
5. Enter a name for the new saved search and click on the “Save” button.

You have now created a copy of the original saved search with a new name. You can then make any necessary modifications to the copy without affecting the original search.

Why DevTeamPro?

As NetSuite ERP Solution Provider, we provide comprehensive documentation of all saved searches and their underlying criteria, filters, and formulas. By tracking the complete history of changes made to saved searches, we allow users to understand its impact on the business operations with clarity. This enables you to understand all the discrepancies and make informed decisions considering all the different insights. Our skilled team with advanced tips and tricks supports streamlined business operations, risk reduction, and effortless compliance across your organization.

FAQs

Q1: Difference between a saved search and a report in NetSuite?

As the blog explains, a saved search is an advanced, customizable tool to manage huge datasets and narrow down the search based on your needs through applying filters, formulas, and setting criteria, offering greater flexibility in workflows.

A report, on the other hand, has a structured format designed for summarizing data and is best suited for formal presentations with little to no flexibility.

NetSuite Suite Analytics connects customers with real-time reporting and actionable business insights. With built-in real-time reporting, key performance indicators (KPIs), and dashboards, SuiteAnalytics in NetSuite enables companies to incorporate operational and financial insights into the company’s performance that will significantly increase business efficiency across all teams and departments.

With NetSuite SuiteAnalytics Workbook, users are efficiently creating datasets and related Workbooks in the system and then visualizing the output in the form of a table, pivot, or chart, making it easier for further analysis and summarization. Workbooks can be easily saved, shared, and reused, with content easily deployed in the NetSuite dashboard.

The blog aims to serve as the NetSuite SuiteAnalytics Workbook guide, highlighting all the key details of this recent enhancement.

How Do I Enable SuiteAnalytics In NetSuite?

Step 1: Enabling the Functionality

Before creating the NetSuite SuiteAnalytics Workbook, you first need to enable the feature, which is done as follows:

Navigate: SETUP > COMPANY > ENABLE FEATURES > ANALYTICS > SELECT “SUITEANALYTICS WORKBOOK NETSUITE” > SAVE

Now that the NetSuite SuiteAnalytics feature is unlocked, you will need to grant access to the end users. This is done by adding the new “ SuiteAnalytics Workbook” permission to the user roles, who will then be able to view the “Analytics” tab in the navigation bar at the top of the screen.

‍Step 2: Creating the First Dataset

Creating a dataset at first is important, as the Workbook must be associated with at least one dataset.

To create a dataset:  Navigate: Analytics > Datasets > New Dataset

Just like a saved search, begin by selecting the record type for which you want to create a dataset. A default dataset will be generated with no pre-set criteria. You will need to define all the criteria and your dataset will be refreshed accordingly. You can further customize by adding a custom formula. Before saving the demonstrations, make sure to “ Validate” the changes to confirm that the output will be accurate just as you want. Once the dataset is fully configured, click “Save” and assign it a clear and descriptive name for easy identification when referenced in the Workbook.

With the dataset ready, you are now all set to create your first Workbook

Step 3: Creating Your First Workbook

To create a Workbook:
Navigate: Analytics > Workbooks > New Workbook

After clicking the “New Workbook,” you will be prompted to select a dataset to connect, which, when selected, will automatically take you to a brand new Workbook with one tab created. You can now create a table, chat, or pivot. It is to keep in mind that you will only have one visualization type per tab, so you cannot display a pivot and a chart on the same tab. However, like an Excel workbook, you are able to add multiple tabs to facilitate different visualizations.

These are all the key steps on how to connect to NetSuite Suite Analytics and manage data from different saved searches/ reports, just by building these Workbooks and having all the data automatically update for you.

‍Why SuiteAnalytics In NetSuite Is Useful For Businesses

NetSuite Suite Analytics Workbook enables users to create customized reports, visualizations, and datasets, and further allows them to interact with data dynamically. Users can easily make use of all sorts of datasets without any technical expertise or additional specialization.

The tool was introduced in response to the limitations imposed on saved searches and standard reports, which traditionally required users to export data for complex analysis. SuiteAnalytics NetSuite effectively eliminates that dependency, delivering multi-dimensional analysis directly within the NetSuite platform.

Additionally, some business-focused benefits are as follows:

1) Sales Performance Analysis
Effectively monitor sales trend across regions, product categories, or customer segments and highlight top-performing sales representatives.

2) Inventory Optimization
Integrate inventory data with sales forecasts to proactively identify potential stock shortages. Apply dynamic filters to focus on critical items or priority locations.

3) Financial Reconciliation
Develop a workbook that aligns general ledger data with bank transactions, simplifying the process of identifying discrepancies without the need to toggle between multiple financial reports.

4) Customer Lifetime Value (CLV)
 Construct a dataset that merges transaction history, customer demographics, and service touchpoints to calculate CLV. Use these insights to inform targeted marketing efforts and improve customer retention strategies.

Some Common Challenges

1. Understanding relationships between datasets: If you are unfamiliar with how NetSuite structures its data, you might struggle to define effective joins. Consult NetSuite ERP solution provider to map out the relationships.
2. Performance with Large Datasets:  Querying a large amount of data might impact performance.  It is advisable to use filters and a summarized field to narrow down the data before visualizing it.
3.  Advanced Formatting Needs: When NetSuite SuiteAnalytics is installed, it supports charts and tables, but some users still require more advanced visualization options and so they can meet with a NetSuite ERP consultant for the best advice.

How Much Does SuiteAnalytics Connect Cost?

Users subscribe to NetSuite for an annual license fee. Your license is made of three components: core platform, optional modules, and the number of users. There is also a one-time NetSuite implementation service Cost for initial setup. As your business grows, you can add new users or subscribe to new modules.

Conclusion

The SuiteAnalytics Workbook NetSuite is a gamechanger for users who extensively rely on saved searches and want to customize the datasets timely manner. Whether you are looking to build a dynamic reporting package or looking to report on some data points, SuiteAnalytics has something extremely efficient to offer to all its users.

This is just one area of the SuiteAnalytics solution NetSuite offers. If you are looking to incorporate other applications, be sure to check out NetSuite SuiteAnalytics Connect. Also, if you’re looking to set up a separate data warehouse for more holistic data, you can contact a SuiteAnalytics NetSuite Consultant for the best consultation.

The choice of an ERP system can determine business success. That’s why your organization needs the best ERP software. Start an ERP system by assessing your firm, its goals, and how to achieve them. It takes strategic planning, and your processes and performance depend on the solution you choose. Two popular cloud-based ERPs, NetSuite and Acumatica, have transformed how firms integrate and manage their operations. Choosing between Acumatica and Oracle NetSuite is about selecting the best partner for your business’s efficiency and growth. To simplify ERP selection, we compared NetSuite vs. Acumatica head-to-head.

NetSuite Overview

NetSuite, founded in 1998 by Evan Goldberg, has developed from an online accounting tool to an award-winning cloud system that helps organizations manage everything. Oracle’s 2016 $9.3 billion acquisition of NetSuite showed the cloud company’s growing importance. World-leading cloud software vendor NetSuite has over 37,000 customers. Numerous firms benefit from NetSuite:

• Medium-sized firms seeking growth
• Large firms seeking simplification
• Global businesses that deal with currencies or languages

NetSuite is adaptable enough for wholesale distribution, manufacturing, retail, and services.

Acumatica Overview

Acumatica grew swiftly in ERP after its 2008 founding. It meets the needs of small to mid-sized organizations in specific verticals with cloud-based and on-premise solutions. Acumatica’s flexible pricing and platform-growth promise set it apart. Today, it serves many customers, showing its growing ERP market importance. Acumatica suits numerous businesses:

• Medium-sized businesses seeking a scalable ERP solution
• Companies that need precise project accounting and financial control
• Companies that value mobile ERP access for mobile staff

Acumatica’s flexible platform, project-focused functionality, and mobility should be weighed against a company’s needs. Acumatica is a forward-thinking solution for businesses willing to change due to its growth and AI use. Every company’s path is different, so choosing the ideal ERP fit means matching your business’s trajectory with an ERP platform’s capabilities and flexibility.

NetSuite vs. Acumatica: Brief Comparison

Cloud ERP systems are one example of how businesses are moving toward cloud-based solutions to improve operations. For ERP market comprehension, NetSuite’s and Acumatica’s architectures, deployment methodologies, and histories must be examined. What SaaS ERP solutions can these platforms offer for modern businesses?

Financial Management

Acumatica and NetSuite offer ERP features like the general ledger, accounts receivable, accounts payable, cash management, currency management, tax management, deferred revenue accounting, intercompany accounting and reconciliation, recurring revenue management, billing, fixed assets, and payroll management. 

Multi-book accounting is available in NetSuite, although Acumatica lacks key essential accounting functionalities. NetSuite helps companies comply with industry-specific, national, regional, or mixed accounting requirements when applying different accounting treatments to the same business event. Maintaining multiple book streams streamlines compliance reporting. Changes to Acumatica GL’s core code are costly, dangerous, and require a third-party IT consulting team.

International Management 

NetSuite contains important elements that Acumatica lacks for international or expanding enterprises. Over 190 currencies and 27 languages can be transacted in NetSuite. Over 200 countries and territories use NetSuite. Acumatica users must manually revalue currencies. NetSuite offers basic localization and translation tools, but local partners provide the necessary functionality. Acumatica lacks multibook accounting and cannot handle overseas firms that must follow IFRS and GAAP.

Customer Relationship Management 

CRM capabilities from Oracle NetSuite and Acumatica include sales force automation, service and support automation, integrated marketing, and a customer self-service portal.

Administration of Human Resources

Partners provide all other human resources management features, even though Acumatica’s core system can handle payroll. However, NetSuite, based on the primary ERP platform, provides comprehensive payroll processing and essential HR features. HR managers can use tools like performance management, employee self-service, workforce management, and HR reporting with SuitePeople HR.

Analytics and Reporting

Both Acumatica ERP and NetSuite include prebuilt dashboards, business intelligence, analytics, and reports. While both Acumatica and NetSuite offer self-service reporting, Acumatica offers fewer workflow and update options that don’t require users to be coders.

Features of E-Commerce and Retail

Even though both businesses facilitate e-commerce and retail operations, NetSuite provides more comprehensive functionality, like

• Point of Sale
• Mobile Point of Sale
• Automation of Marketing
• Product Content Management
• Order and Inventory Management
• E-commerce

The features of Acumatica are inferior to those of NetSuite. Among Acumatica’s e-commerce and retail functionalities are the following:

• Point of Sale
• Mobile Point of Sale
• E-commerce
• Order & Inventory Management
• Marketing Automation

Project Management

Acumatica and NetSuite both offer project management features, including tracking project management costs, time and expense management, and advanced billing. Professional services automation (PSA) is a feature of NetSuite that includes resource management.

Deployment and Infrastructure Options

Acumatica and NetSuite are cloud ERPs. Acumatica offers cloud, on-premises, and hybrid approaches, while NetSuite uses multitenant cloud SaaS. Although some clients may prefer in-house software management, most analysts agree that reputable SaaS providers offer better security, uptime, and performance. Scale economies and customization-preserving upgrades benefit customers.

Integration

SuiteCloud from NetSuite powers multi-tenant cloud computing. Based on JavaScript, it offers an API and IDE for platform programs. SuiteTalk, NetSuite’s SOAP-based web services platform, integrates cloud and on-premises software. We integrate utilizing SuiteTalk or APIs. The Acumatica xRP Cloud Platform supports Visual Studio, C#, ASP.NET, and the .NET framework and runs REST and SOAP web services.

Ecosystem of Partners

NetSuite implementation time vs. Acumatica both depend on partners. However, while NetSuite sells and implements its solutions, Acumatica relies entirely on its partners to make all business decisions. Additionally, NetSuite’s partner ecosystem is much stronger due to its maturity.

The Costing

In contrast to Acumatica, which bases its pricing on the amount of computer power used and allows for “unlimited users,” NetSuite charges by the number of users. However, in practice, Acumatica vs. NetSuite pricing models are impacted by user counts since, as one might expect, an organization’s computer resources increase with the number of users it has. Rapidly growing companies usually favor the per-user approach since fewer employees need to access the ERP system than there are transactions.

License

Small businesses often choose between NetSuite and Acumatica. The strategy offered by Acumatica appeals to smaller companies that are just beginning to use ERP and those who want to give many employees access to the financial system. NetSuite offers similar benefits to smaller organizations, but its methodology is more reliable, and tier transfers are less unclear.

Service Implementation and Support

The NetSuite implementation service offers support through its professional services, support teams, and partners, who are typically local or industry specialists. Global NetSuite support is available 24/7 in either case. Acumatica uses partners for implementation and support, a rare commercial software model. This method saves Acumatica money by not hiring an internal professional services team and benefits its channel partners.

Why is the NetSuite ERP System a Better Option?

Ultimately, choosing between Acumatica and NetSuite for global businesses depends on your company’s requirements and expansion goals. Both ERP systems are competent, but for finance-driven companies seeking Acumatica scalability over NetSuite and sophisticated features, NetSuite frequently emerges as the better option. 

NetSuite has more capabilities and module connectivity, so your team won’t outgrow it as your organization grows. NetSuite has built-in functionality for sophisticated revenue recognition, multi-book accounting, and multi-currency consolidation, unlike Acumatica. Industry-specific NetSuite versions are advantageous. 

Many companies find that NetSuite matches their industry standards from the start, reducing customization. Global organizations need NetSuite’s ability to manage tax compliance, multiple currencies, languages, and local legislation. NetSuite is the best ERP option for finance teams and expanding companies, even though Acumatica is a strong ERP for smaller firms. Here’s why:

• Scalability: NetSuite’s ability to effortlessly manage intricate financial systems and substantial transaction volumes enables it to assist companies of all sizes. Despite its adaptability, Acumatica primarily caters to smaller businesses and may require additional customization for successful scaling.
• Industry specialization: By offering best-practice workflows, reports, and customizations right out of the box, NetSuite’s pre-built SuiteSuccess industry editions span a larger number of industries than Acumatica.
• NetSuite, with its built-in functionality for revenue recognition, multi-subsidiary consolidation, multi-currency transactions, and compliance automation, is the preferred choice for finance-driven companies. For comparable capabilities, Acumatica needs more manual configuration.
• Global capabilities: Designed with international business in mind, NetSuite supports various currencies, tax laws, and native languages. While NetSuite’s extensive financial and compliance capabilities make it a superior choice for companies with international operations, Acumatica offers some global functionality.
• Extensive ecosystem and integrations: Acumatica’s partner network is still smaller than NetSuite’s, despite its growth, thanks to its vast SuiteApps marketplace and Oracle-backed ecosystem, which guarantees smooth connections with third-party solutions.
• Cost structure predictability: The NetSuite implementation cost is clear and scales predictably. Although Acumatica’s resource-based pricing allows for an infinite number of users, it may result in unforeseen expenses as business activities expand.

Final Verdict | Choose a Suitable Partner for NetSuite Implementation

We think NetSuite has more features, clearer pricing, and more support than Acumatica, but we can’t say which ERP system is best for your company. To choose the right ERP system for your needs, you must decide exactly what you want from an ERP system, whether you need extra capabilities (such as PSA, e-commerce, and CRM), and how you expect your business to evolve over the next ten or so years. If your company is considering using NetSuite ERP, our DevteamPro team of qualified NetSuite ERP solution providers can help you from the beginning of the project to the go-live. To obtain a price quote based on your company’s needs, refer to our other blogs, such as Oracle ERP Cloud vs. NetSuite.

Reconciliation is now an essential component of enterprise financial integrity rather than a back-office task. The conventional, manual reconciliation process is unable to keep up with the increasing speed of business and the fragmentation of financial ecosystems. Delays, errors, and disjointed audit trails are now liabilities rather than merely operational annoyances. By 2025, progressive companies will abandon spreadsheets and static checklists in favor of Accounts Reconciliation automation on NetSuite to meet the ever-increasing demands of reconciliation.

Now supported by Oracle’s ERP processes and strong Cloud EPM infrastructure, NetSuite Account Reconciliation provides a dynamic, integrated solution to transform a laborious procedure into a tactical tool. Control, visibility, and speed are introduced by NetSuite’s specialized reconciliation tool, which can be used for managing large bank transactions, reconciling intercompany accounts, or aligning settlement data with payment processors.

NetSuite Account Reconciliation

Fundamentally, reconciliation ensures alignment between a company’s perceived ownership or debt and externally verified information. It entails contrasting external data sources like bank statements, vendor payment confirmations, intercompany transfers, and merchant settlements with internal records like general ledger balances. 

Basic matching is just one aspect of the NetSuite Account Reconciliation module. From bank and credit card accounts to intercompany receivables and accruals, it offers a centralized, safe, and rules-based environment for reconciling balance sheet accounts. It supports collaborative resolution through integrated workflows, flags exceptions in real-time, and automatically matches transactions using configurable logic.

Crucially, Account Reconciliation in NetSuite is an integrated solution driven by Oracle’s Cloud EPM platform rather than being included in the core ERP suite. This architecture is appropriate for both mid-sized businesses and multinational corporations because it provides real-time integration, scalability, and cloud-grade performance. 

Working with a NetSuite accounting services provider can guarantee smooth Netsuite implementation service, configuration, and integration for businesses wishing to use this cutting-edge functionality or streamline their close process. Finance teams benefit greatly from expert support, which helps them customize reconciliation rules, set up live bank feeds, and align the process with more comprehensive financial reporting strategies.

The NetSuite Account Reconciliation Features

1. The Matching Engine Automated

Your team can configure logic to match transactions based on custom fields, reference IDs, date, or amount. The engine processes thousands of records per minute with high accuracy, whether it is one-to-one or many-to-many matching. Such functionality lessens manual labor and shifts the accounting team’s attention from routines to exceptions.

2. Integration With External Systems, Bank Feeds, and GL

Manual exports are no longer necessary thanks to NetSuite Bank integration services. SuiteApp connectors facilitate the connection of merchant gateways, POS systems, and real-time bank feeds. More than 14,000 financial institutions will be able to access live feeds by 2025. In addition to speeding up matching, this feature also increases data reliability by reducing reconciliation delays.

3. Dashboards & Exception Reporting

Unmatched transactions, outdated items, or questionable entries are displayed on interactive dashboards. With the ability to comment, reclassify, or escalate entries directly within the platform, handling exceptions becomes a collaborative process. Instantaneous anomaly detection by the system enables teams to take action before mistakes become more serious.

4. Document Management That Is Audit-Ready

Attachments, like bank statements, internal memos, or compliance policies, can be included in each reconciliation and are safely kept in NetSuite’s document repository. Workflows for approval are fully tracked, role-based, and time-stamped. This openness facilitates SOX compliance and improves your audit position.

5. Variance Analysis (Flux) and Prebuilt Templates

For common account types, more than 20 NSAR NetSuite templates speed up implementation. By highlighting variations across times, built-in flux analysis assists controllers and auditors in comprehending significant fluctuations before issues are raised.

Does NetSuite Have an Account Reconciliation Tool?

Yes, NetSuite has an account reconciliation module as part of its ERP and financial management suite. With a single, centralized workspace, NetSuite Account Statement Reconciliation software automates various general ledger account reconciliations, such as bank reconciliations in NetSuite, credit card matching, intercompany transactions, accounts receivable and payable, and invoice-to-PO matching. By eliminating errors and manual ticking and tying, NetSuite Bank Account Reconciliation frees up accounting teams to concentrate on high-risk reconciliations, exceptions, and other strategic tasks.

• Close more quickly. Standardize and automate account reconciliations and transaction matching.
• Match transactions quickly. Using rules you establish, completely automate repetitive, time-consuming reconciliations, including zero-balance, low-value, and low-risk reconciliations.
• Make SOX compliance and internal controls stronger. You can easily retrieve electronic copies of archived supporting documentation at the account level.
• Ensure the precision of financial statements. The risk of financial misstatements is decreased by reconciling GL accounts, which guarantees that any inconsistencies or omissions in financial records are discovered.
• There is only a single solution available. You can manage each account’s status and details here, including balance comparisons, preparers, reviewers, and sign-off dates.

How Do I Create a Reconciliation Rule in NetSuite?

Go to Transactions > Bank > Reconciliation Rules in NetSuite, then select New Rule to create a reconciliation rule. To specify how NetSuite should match bank transactions with your internal records, define the rule name, choose the appropriate bank account reconciliation in NetSuite, and set up conditions based on transaction types, primary fields (such as Transaction ID or Memo), and operators (such as Equals or Contains).

Here’s a more thorough explanation:

1. Go to the page with the reconciliation rules: Navigate to Reconciliation Rules under Transactions > Bank.
2. Make a New Regulation: Press the “New Rule” button.

Describe the Rule:

• Name of the Rule: Give your rule a name that describes it, such as “Match on Deposit Transaction Number to Memo.”
• Select the bank accounts that this rule should apply to.
• The conditions tab is where you specify the matching transaction logic.
• Type of Transaction: Choose whether the rule covers all NetSuite transactions, all imported bank transactions, or specific types (like deposits and payments).
• Primary Field: Choose the field (such as Transaction ID, Memo, or Date) from the imported bank transaction that you wish to match.
• Operator: Select the proper operator (such as Equals, Contains, or Starts With) for the comparison.
• Value: Depending on the selected operator, you may need to either choose a NetSuite transaction type and comparison field or enter a specific value.

4. Preserve the Rule: To create the new reconciliation rule, click Save.

How Do I View Reconciliation Reports in NetSuite?

For reconciled statements, you can view the Bank Register, Reconciliation Summary, Reconciliation Details, and Reconciliation History report.

• Go to Reports > Banking/Budgeting > Bank Register to see the Bank Register report for a particular account. View the bank register report.
• Go to Reports > Banking/Budgeting > Reconciliation to see the Reconciliation Summary report for a particular account. Click Reconciliation Summary in the upper-right corner if you have chosen an account and are on the Reconcile Account Statement page. Refer to the Reconciliation Summary Report.
• Go to Reports > Banking/Budgeting > Reconciliation > Detail to see the Reconciliation Detail report for a particular account. View the Reconciliation Detail Report.

To see the Reconciliation History report, which shows past reconciliations:

• Go to Transactions > Bank > Reconcile Account Statement if your account makes use of the updated reconciliation pages. Click the Reconciliation History Report in the upper-right corner of the page after selecting an account.
• Go to Transactions > Bank > Reconcile Bank Statement or Transactions > Bank > Reconcile Credit Card Statement if your account still uses the original reconciliation pages. Next, select History.

Final Words

The goal of reconciliation has evolved beyond bookkeeping. It’s about preserving the financial truth, fostering trust, and facilitating wiser choices. The Accounts Reconciliation support for NetSuite provides structure to chaotic situations, speeds up delays, and enhances visibility in ambiguous circumstances. By 2025, businesses that prioritize accuracy, agility, and governance will have the ideal opportunity to update reconciliations for the future. As companies get ready for the demands and difficulties of 2025, modernizing reconciliation is becoming imperative, not optional. With the help of DevTeamPro’s NetSuite ERP solution provider, businesses can make sure that every stage is optimized for speed, accuracy, and resilience, from implementation to handling exceptions.