According to the experts at Allied Market Research, the global enterprise resource planning (ERP) software market is expected to hit highs of $78.4b by 2026.
And if you’re like every other business caught up in the whirlwind of the global adoption of modern ERP software. Then you’ve probably come across the wall most people on this quest encounter: who wins the battle of NetSuite vs. Odoo
Both systems are attractive options. NetSuite is a handy package that caters to the critical operations of small businesses, including accounting, inventory management, order management, and supply chain management. What’s more, its specificity reduces the likelihood of overwhelm.
Odoo also supports critical business dealings such as customer relationship management, accounting, warehouse management, manufacturing, project management, and more. But it’s an open-source program.
So, it includes over 1000 other apps developed by community members. These may come in handy as your business grows.
One thing is clear.
Superficial comparisons won’t cut it if you’re looking to pick an ERP solution that’s right on the money.
Your decision to go for NetSuite or Odoo may come down to fine details.
With this in mind, we’ve created an in-depth comparison of both programs. Ready to unpack them and see which suits your business? Read on.
NetSuite vs. Odoo: Quick Summary
NetSuite
NetSuite is a collection of cloud-based business management applications. These apps give you control over the core functions of your enterprise, present real-time data, and allow you to automate critical processes all in one place.
Widely considered the number one ERP system in the market, NetSuite powers startups, midsize businesses, and top enterprises. This versatility is down to the software’s ability to scale with a company and meet its evolving needs.
Here’s a glimpse of the functionalities NetSuite ERP offers:
- Accounting Software
- Financial Management
- Inventory Management
- Global Business Management
- Order Management
- Supply Chain Management
- Warehouse Management (one per company)
You can add optional modules as your business grows, including customer relationship management, human resources, and professional services automation.
Odoo
In Odoo, you have another one-stop shop for all things enterprise management. Although NetSuite is a comprehensive solution, Odoo is an even bigger pool of more than 1000 applications available to help you get a grip on every area of your business. Like NetSuite, it also operates on the cloud and allows on-premise hosting.
To understand how Odoo has so many applications to choose from, you need to know that it offers two ERP packages. One is the free community (open-source version) with tons of applications.
And then there’s the enterprise (licensed) option, which supplements the former with additional critical offerings under each module. For instance, the Odoo community finance module doesn’t have advanced accounting capabilities, but the enterprise version does.
Odoo was created for small to mid-sized businesses. But it is mainly used by companies in the professional services, retail, manufacturing, and distribution sectors. And the ERP offers modules for:
- Accounting and Invoicing
- Inventory Management
- Manufacturing
- Project Management
- Customer Relationship Management
- Ecommerce
- Warehouse Management (multiple warehouses per company)
- Marketing Automation.
Odoo vs. NetSuite: Which One is Best For You?
Pricing
We’ll start with NetSuite’s pricing structure. NetSuite operates a SaaS (software as a service) pricing model where customers pay an annual subscription fee to access the program.
NetSuite doesn’t include the software’s exact pricing on its website but instead requires companies to reach out for quotes. Various third-party websites offer information on how NetSuite calculates the license fees for an organization.
The consensus is that you’ll pay for the core NetSuite platform, your preferred optional modules (some of which can reportedly cost anywhere from $199 to $499), and the number of users ($99 per month to register additional users).
The last two price determinants suggest that the total payable fee will vary for each organization. And apart from these costs, NetSuite also charges a one-time setup fee.
One upside to NetSuite’s pricing strategy is customers aren’t responsible for the costs of system maintenance and updates. Plus, they avoid spending on any optional modules they don’t need at that point.
Odoo’s pricing system isn’t much different from NetSuite’s. They also use a subscription model with selected price determinants. These price indicators include the number of users ($6 per user for new customers and $8 for old ones), the selected advanced modules, and third-party extensions.
The good news is you can get a decent subscription for as low as $25 per month for one user or an annual plan at $20 per month. And there’s a 15-day free trial for you to test the waters.
Although NetSuite and Odoo give custom quotes based on the organization’s needs, Odoo wins the pricing round because its overall pricing system is more affordable and transparent.
Features
Let’s see how NetSuite and Odoo compare based on some essential features.
Accounting and Finance Management
NetSuite offers comprehensive and sophisticated financial functionalities, including real-time financial management, planning, and reporting. You get access to features like:
- Processing customer electronic payments efficiently
- Tracking the valuation and depreciation of company assets
- Forecasting and viewing your company’s financial performance
- Automating revenue reports based on predetermined standards and more.
Odoo also comes with many financial management features such as:
- Real-time inventory valuation
- Assets management
- Invoice management
- Full-scale reports and budgeting capabilities.
And both Odoo and NetSuite enable you to manage multiple companies and currencies.
Not much separates both ERPs in this segment. While Odoo has handy features not available in NetSuite, such as accounting alerts, automatic bank synchronization, and quick account reconciliation, NetSuite has the more robust accounting software.
Inventory Management
With NetSuite, you can automatically track your inventory across different channels to get a holistic view of your stock. And effectively manage it to prevent overstocking certain products or stockouts. You’ll also find real-time inventory records to aid seamless order fulfillment.
You can easily leverage your product’s past demand data and data-backed sales forecast to plan your stock.
Odoo holds its own against NetSuite in this segment. It reliably tracks every stock move end-to-end (from purchase to warehouse and finally sales order) using its unique, innovative double-entry inventory management. Another notable feature is the multi-warehouse management system that allows you to set stock replenishment protocols across warehouses.
Odoo slightly edges NetSuite in this category with specific features you’re likely to find appealing. Such as the multi-warehouse management protocols.
Supply Chain Management
NetSuite and Odoo provide almost the same functionalities in supply chain management across the board. Some of the critical features they share include:
- Vendor data and pricelist management
- Quotation requests
- Purchase approval workflow
- And drop shipping.
However, Odoo’s supply chain management setup allows for better inbound and outbound quality control.
Manufacturing Management
Odoo and NetSuite provide insights into all the manufacturing process details by ticking similar feature boxes. They both provide a system to help you track bills of materials, routings, and subassemblies.
Planning for product manufacturing also becomes more accessible and more cohesive with shared features like the demand forecaster, production calendar, material requirement, and manufacturing resource planning.
Like in several other departments, neither NetSuite nor Odoo comes out heads and shoulders above the other in this round.
Customization
You’ll find that NetSuite and Odoo offer customization options, but one stands out above the other.
With NetSuite, you can better tweak various workflows to align with the structure of your business operations. And apart from the ease of use, you also have more customization freedom.
Odoo’s modules, on the other hand, are a little more taxing to tailor to one’s peculiar needs.
So, Netsuite takes this round.
User Experience
Some users have complained about NetSuite’s low-quality experience due to its clunky and seemingly dated user interface. These complaints have also cropped up in response to specific features like NetSuite’s data presentation.
But even with its user interface that leaves much to be desired, users still believe that NetSuite is intuitive and straightforward. It’s structured such that even non-technical operators can quickly get the hang of the platform.
With Odoo, you’ll find a clean user interface that typically requires more practice to master. There have also been complaints of the susceptibility of Odoo’s Android version to crashing or performing poorly generally. And this tends to limit users’ ability to access the platform on the go.
NetSuite’s more straightforward implementation and low-code nature make it our preferred solution in terms of user experience.
Reviews
Finding out what other users think about a product is an intelligent way to get unburnished facts on the product’s performance. So we scoured a few aggregate user review sites to see how people with first-hand experience deploying NetSuite or Odoo rate them.
We’ll start with general customer satisfaction ratings before going into specifics.
- NetSuite (805 reviews) – General rating: 4.1/5 stars. Ease of use: 4/5 stars, Customer Support 3.5/5 stars, Value for money: 3.5/5 stars, Functionality: 4/5 stars.
- Odoo (432 reviews) – General rating: 4.14/5 stars, Ease of use: 4/5 stars Customer support: 3.5/5 stars, Value for money: 4/5 stars, Functionality: 4/5 stars.
- NetSuite (1830 reviews) – General rating: 3.9/5 stars.
- Odoo (180 reviews) – General rating: 4.2/5 stars.
One thing that’s clear from the ratings is that NetSuite and Odoo are almost neck and neck as far as consumers are concerned. However, more detailed and specific reviews such as customer statements shed more light on the performance of each solution.
Generally, users view NetSuite as a flexible suite of comprehensive solutions for all business needs with a dated user interface that can be better but gets the job done anyway.
And in many quarters, Odoo is the well-designed, easy-to-navigate fullscale business management platform that can prove challenging to set up or customize.
Integrations
Even with an ERP, you’d still need some specialized applications. That’s why excellent enterprise resource planning software allows integration with widespread applications.
NetSuite, for example, has a dedicated protocol called NetSuite SuiteCloud Platform Integration that allows you to securely connect data from your NetSuite account to almost any third-party application. It supports integration technologies such as REST, SOAP web services, custom REST endpoints, CSV file imports, and ODBC/JDBC.
Odoo also integrates with third-party applications, including famous names like Amazon and Shopify. In fact, on the platform’s official website, you’ll find a slew of specially designed third-party app connectors listed by various software developers. Some are free, while others could cost you as much as $500.
NetSuite and Odoo perform brilliantly in this category in what has already become a familiar pattern, and both get a seat at the same table.
Customer Support
NetSuite has a standby customer success system that offers help round the clock. And its customer support package is available in basic and premium units. With the latter, you get a dedicated support team and other benefits.
For Odoo, customers get multichannel support depending on their subscribed package. Basic subscription holders get email support. Those with more expensive subscriptions enjoy assistance via email, live chat, and a specialized team.
There are also customer support tools and resources that can help you find your way out of a sticky situation, including website posts from other users.
The tussle between NetSuite and Odoo in this category ends in a stalemate because while the former offers 24/7 support, it adopts a single-channel approach. And although Odoo doesn’t provide round-the-clock aid, its multichannel assistance system is attractive.
NetSuite or Odoo – Which One Comes Out Tops?
There’s no right or wrong answer to “NetSuite or Odoo.” Ultimately, your choice will rest on the specific needs of your business, your long-term plan, and your preferences.
That said, we believe that organizations who are interested in a robust yet cohesive and functional ERP system should lean towards NetSuite. While Odoo is no pushover, NetSuite has just the right balance of simplicity and expansiveness that will serve businesses of all sizes in the long term.