Guide to NetSuite Account Reconciliation for Financial Process Efficiency
As organizations grow and evolve, financial management becomes a more complex task. Traditional, manual ways of managing accounts and reconciliations...
Choosing the right ERP software is a bit like shopping for the right shoe: there isn’t really a “single best choice”, but some options are guaranteed to fit your needs better than others.
In this article, we've created a head-to-head comparison between Oracle NetSuite vs Epicor, two immensely popular ERP solutions, both with significant pedigree and history. The former is a do-it-all cloud-based solution, and the latter is an extremely specialized platform that performs well in specific industries and deployment modes.
Hopefully, by the end of this article, you will be able to get a clear picture of which ERP solution meets your company’s needs.
NetSuite, was founded in 1998 by Evan Goldberg. The company started out as a web-hosted accounting management software, but quickly evolved into an end-to-end cloud-based solution for ERP, financial planning, and omnichannel commerce.
In 2016, NetSuite was acquired by Oracle for an estimated $9.3 billion. Today, the company serves over 16,000 customers in more than 200 countries and territories, and is widely considered a pioneer in the cloud-based software space.
Epicor was founded in 1972 as Triad Systems Corporation. It began as a financial accounting product for multi-user LAN-based environments but later specialized in manufacturing solutions and operations, following a merger with DataWorks. The company renamed to Epicor Software Solution in 1999.
Currently owned by PE firm KKR, for the purchase price of 3.3 billion in 2016, the company has 20,000 customers in 150 countries, and over 15 different products for retail, manufacturing, production, and several others.
NetSuite |
Epicor |
|
Overview |
NetSuite provides cloud-based CRM, PSA, ERP and e-commerce solutions to small and medium businesses and mid-market companies. |
Epicor is a global ERP provider that specializes in manufacturing and distribution for both small- and medium-sized businesses, and large enterprises. |
Years in Business |
20 |
47 |
Customers |
~16,000 |
~20,000 |
Target Industries |
|
|
NetSuite | Epicor | |
Financial Management |
|
|
Supply Chain Management |
|
|
Human Capital Management |
|
|
E-Commerce and Retail |
|
|
Professional Service Automation |
|
|
NetSuite |
Epicor |
|
Tech Support |
24/7 toll-free worldwide phone support available |
24/7 toll-free worldwide phone support available |
End-User Training |
Live and/or online training available by NetSuite training department and by partners |
Live and/or online training available by Epicor training department and by partners |
Online Support |
NetSuite has extensive knowledge base (SuiteAnswers) available to all users as well as online user group |
Self-paced, instructor-led, and virtual education (Epicor University) is available to all Epicor users around the world. |
User Groups |
Multiple local user groups across the United States |
Multiple local user groups across the United States |
If you’re looking to deploy an on-premise ERP solution, Epicor is the winner by default. Epicor is still, by and large, an on-premise player, having only ventured into cloud fairly recently. As of this writing, the software is still working through some issues concerning cloud performance and delivery, likely a result of deploying multiple hosting partners and code sets.
NetSuite, on the other hand, is built exclusively in the cloud using a single code base. This allows for smoother integration and better reliability, but sacrifices the flexibility to implement solutions on-premise.
If you are looking for a cloud-based ERP solution Epicor should not be on your radar.
Epicor performs strongly in supply chain management, particularly for production management, inventory management, and warehouse and fulfillment. Moreover, Epicor has products tailored for specific industries such as automotive and electronics manufacturing. NetSuite can mimic some of Epicor’s capabilities, but may require additional modules and/or partner applications.
Outside of supply chain management and manufacturing, however, NetSuite outperforms Epicor significantly, especially when it comes to Marketing Automation and CRM capabilities. NetSuite can provide deep insights and analytics throughout the customer journey. On top of that, NetSuite offers a broad ecosystem of partners that contribute to the functionality of the platform. Epicor does not offer a partner ecosystem like NetSuite's SDN partners.
One of NetSuite’s clearest advantages over Epicor is singular focus. That is, NetSuite dedicates all its resources towards the development of a single, cohesive platform that uses a unified code set, whereas Epicor has to juggle seventy-one different products built on different code sets.
The NetSuite vs Epicor choice really depends on what you need out of your ERP solution. For companies with deep supply chain and manufacturing needs, Epicor could be the ideal solution, yet, in most instances, NetSuite provides a broader suite of applications aimed at manufacturers looking for a fully integrated suite of applications to run their business in the cloud.
As organizations grow and evolve, financial management becomes a more complex task. Traditional, manual ways of managing accounts and reconciliations...
Cumula 3 Group is proud to announce its appearance on the prestigious Accounting Today's VAR 100 list for 2023. This notable directory highlights...
Cumula 3 Group Marks Its First Appearance in Bob Scott's Top 100 VARs for 2023 The esteemed Cumula 3 Group is proud to announce its debut on Bob...