As days changed all businesses are transformed to digital, and they require a better accounting platform to stabilize their finances. So business is engaging with and rely on accounting software for the fast growth of their business. This blog provides a comparison between Tally VS NetSuite.
Accounting software can change the nature of the business. And there is a lot of accounting software are available in the market. Tally, Quickbooks, Zoho etc. are some of the leading Indian market players. For mid-market and enterprise, Oracle NetSuite, SAP, and Microsoft Dynamics are the key players.
Tally ERP is a market leader in India. As an India based accounting software, many mid-market and enterprise companies are still using this ERP but its capabilities do not fit with the requirements of those businesses. Tally can be the right fit for small businesses, but Netsuite can be the right fit for all types of business enterprises.
Comparison between Tally accounting software and Netsuite ERP:
|User-friendly||No||Yes (UI is easy to use and understand)|
|Data reliability and security||Limited||High (operational and application security)|
|On-premise||Yes||No (cloud-based ERP)|
|Remote access to data||Yes||Yes (remote access to Oracle database)|
|Document access||Limited||High (document management system)|
|Inventory, Task management||Limited||High (Optimizes stock levels of the business)|
|Time tracking||No||Yes (support timesheet management and billing)|
|Product upgrade||Once in yearly and costly||Yearly twice without any cost|
|Warehouse management||Yes||Yes (inventory management)|
|Cross-functional report generation||No||Yes|
|Report customization||Limited||Yes (report builder and report snapshots)|
|Saved search||No||Yes (to retrieve updated data at any time)|
|Scalability||No||Yes (business solution with quick, easy and cost-effective manner)|
|Workflows||No||Yes (represents the flow of business process through stages and states)|
|Resource management||No||Yes (improve billable utilization)|
|Advanced Revenue Management and recognition||No||High (Advanced Revenue recognition module for revenue recognition and forecasting)|
|Demand planning||No||Yes (Advanced demand planning capabilities associated with SuiteAnalytics)|
|Order management (bulk)||Limited||High (enables product availability, place order and manage Post orders)|
|Customer Relationship Management||Limited||High, Inbuilt CRM (SFA, marketing automation and customer support and service|
|commerce||No||Yes (enables B2B and B2C businesses), Omni Channel capability|
|Invoicing||Yes||Yes (provides suite billing invoicing)|
|Multi-currency||Yes||Yes (support multi-user, multi-subsidiary, multinational business process)|
|Business Intelligence||No||Yes (Suite analytics module)|
|Mobile support||Yes||Yes (provide maximum business productivity anywhere you want to work )|
|Bank integration||Limited||Yes (Expecting in next release in India)|
|VAT, GST reports||Yes||Yes (in reports – tax reports)|
|P2P process||Limited||Yes (ensure seamless support for employee, procurement and finance process)|
|Order to Cash||Limited||Yes (establishes the flow from sales quote to order fulfilment)|
|Chart of accounts||Limited||Yes (handles balance sheet and income statement account)|
|Recurring invoice||No||Yes (recurring billing module)|
|Analytics||No||Yes (business intelligence module – suite analytics)|
|Expense tracking||No||Yes (includes project and resource management)|
|Account receivable/ Accounts payable||Yes||Yes|
|Bank Reconciliation||Limited||High (bank transactions can import to NetSuite)|
Tally has reporting capabilities but limited. It is comfortable for small business firms not for large organizations. Furthermore, it is on used widely but not the best accounting software.
As business growth increases, the platform for the management of its processing also will increase. Shows a positive correlation there comes the need for an efficient business ERP – named Netsuite – as an Enterprise Resource Planning helps to build a business organization to become a success. It automates front and back-office processes like financial management, revenue management, fixed assets, billing and inventory management.
Netsuite – Business management software – cloud-based – helps companies to manage their core business processes with a fully integrated system. And it covers ERP, CRM, eCommerce and Inventory.
Netsuite ERP – provides border visibility to work along with real-time updates. It can quickly integrate with other apps and it also mobile friendly. It’s highly secure cloud solutions that assure to meet business milestones. Mainly cloud-based deployment.
Netsuite provides support as well as consulting services for its customers.
1. Suite support
2. Suite answers
3. Advanced customer support
4. Success services
5. Technical account management
Netsuite consultants can assist any organization to develop coherent IT business strategies with extreme efficiency and expertise.
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