NetSuite and Odoo are two enterprise resource planning (ERP) systems that help companies streamline processes. In this post, we’ll compare them on several factors.
What is the Difference Between NetSuite and Odoo?
- While both solutions are deployed in the cloud, Odoo also has an open source version that’s free to download.
- NetSuite targets medium and large businesses, and Odoo is intended for organizations of all sizes.
- NetSuite prefers to give prospects a personalized pricing quote, while Odoo lists its pricing on its site.
Product Overviews
The following excerpts from our NetSuite and Odoo reviews summarize each software:
NetSuite
NetSuite is a cloud-based ERP software from Oracle that allows companies to streamline business processes and scale fast-growing businesses. It integrates and automates key functional areas like financial management, revenue management, inventory management, order management, billing, e-commerce and customer relationship management (CRM). NetSuite targets medium and large businesses.
Odoo
Odoo ERP is a comprehensive open-source enterprise resource planning (ERP) software made up of an integrated suite of business modules (known as apps), including customer relationship management, accounting, inventory management, project management, warehouse management, manufacturing and purchasing. These modules aim to efficiently and seamlessly communicate with each other to exchange information.
Odoo boasts over 40 main apps that are regularly updated, and more than 16,000 third-party plugins are available in its app store. Because it’s a modular system, customers can start with a subset of tools and add modules as needed.
Features Comparisons
Financial Management
NetSuite
NetSuite’s Financial Management module gives users a real-time look into their financial data. They can see an overall picture of their finances and drill down into the data based on location, division or transactions. This module includes core accounting tools, such as a general ledger, accounts payable, accounts receivable and cash management. Additional features include revenue recognition, billing, financial planning and financial reporting. Finally, the module has global accounting and consolidation features, such as multicurrency and multilanguage support, compliance reporting and a custom tax engine, to support enterprise companies with multiple locations or divisions.
Odoo
Odoo’s Accounting app has many beneficial features, such as an accounting dashboard, bank synchronization and expense management. Users can customize their cash flow statements or balance sheets, and they can filter, annotate and compare data within their financial reports. Odoo can automatically turn sales orders or delivery orders into electronic invoices, and users can set up automatic follow-ups for payment reminders. The software has a dedicated customer portal where customers can see invoices and pay for their orders. Customers can also scan in the QR code on their invoice and pay from their banking app. Finally, there’s a Smart Reconciliation Tool that uses machine learning to deduce the first manual reconciliation and then automatically reconcile journal entries from bank statements against the general ledger.
Bottom Line
Both vendors have similar accounting features (e.g., A/P, A/R, cash management). However, a customer payment portal isn’t available with NetSuite ERP (but is offered in a separate solution), while it’s built into Odoo Accounting.
Inventory Management
NetSuite
NetSuite’s Inventory Management module helps users keep track of their items. It automates the replenishment process by calculating lead times or reorder points, and it notifies users if an item is low in stock. The Inventory Count feature lets users group their items in categories based on transaction volume, and users can also manually enter periodic counts of the items. Additional features include lot tracking traceability, serial tracking traceability and multiwarehouse tracking.
Odoo
Odoo has a double-entry inventory management system in its Inventory app that allows full item traceability (e.g., lot traceability, serial traceability) from supplier to customer. Users can scan items with a barcode scanner, and inventory information will automatically show up in the software. Odoo has automatic replenishment features to prevent stockouts, and users can set up a threshold for triggering an item reorder. Additional inventory management features include drop-shipping, cross-docking, inventory valuation, multiple units of measure, inventory forecasting and multiwarehouse operations.
Bottom Line
Both software solutions offer similar inventory management features. Companies that want a robust warehouse management tool should note that NetSuite has an additional full module for this function, while Odoo’s warehouse management features are all in its Inventory app.
Customer Relationship Management
NetSuite
NetSuite has a dedicated CRM solution that integrates with its ERP platform. It gives users a 360-degree view of their customers, and it provides several tools to help sales reps manage their pipelines, such as sales forecasting, opportunity management and quote management. In addition, the CRM tool offers users marketing automation features (e.g., landing pages, search engine optimization, campaign management) and customer service management features (e.g., customer portal, knowledge management).
Odoo
Odoo’s CRM app has automated features for scheduling sales activities, such as calls and meetings. It also includes pipeline management features that allow users to move opportunities from one stage to another with a drag-and-drop user interface. Users can make calls or send emails directly from the app, as well as measure their performance with real-time data in custom dashboards and reports. Odoo CRM integrates with the Email Marketing, Sign and Sales apps for more advanced features.
Bottom Line
NetSuite’s CRM solution includes both sales and marketing features. While Odoo CRM has various sales features, additional marketing features are available in other apps, such as the Email Marketing app.
Human Resources
NetSuite
NetSuite has an integrated human capital management platform called SuitePeople that helps companies manage their global employees. There’s an Employee Center where employees can see their paychecks, request time off, recognize their peers and update their information. SuitePeople’s features include payroll, performance management, compensation management, onboarding, job management and time-off management.
Odoo
Odoo’s Human Resources function consists of several integrated apps. The Employees app stores individual employee profiles so managers can track attendance, employees’ contract status, timesheets and other criteria. Employees can monitor their leave and submit time off requests for approval. The Employees app also has collaboration features, such as a social network for sharing files, discussions and chatting, and gamification for improving engagement and performance.
The Recruitment app allows recruiters to manage the entire hiring process, and the Appraisal app helps companies manage the performance management process with review templates and automated workflows. What’s more, with the Expenses app, employees can capture expenses and submit them for reimbursement. Finally, Odoo has a free e-learning app that allows organizations to set up and manage training programs, including creating course content, setting up assessments and tracking certifications.
Bottom Line
SuitePeople doesn’t include talent acquisition features (aside from onboarding) or learning management features, while Odoo has dedicated apps for them. However, SuitePeople has payroll and compensation management features, while Odoo requires integration with a third-party app.
Pricing
NetSuite
NetSuite offers a licensed annual subscription model. It doesn’t publicly provide pricing details, but based on our research, it appears the base license starts at $999 per month, plus $99 per user, per month. NetSuite offers a tailored quote that takes into consideration the client’s specific requirements, as well as ERP configuration, any add-on modules and other factors.
Odoo
Odoo has two editions: Community and Enterprise. Odoo Community is open-source software, and users can simply download the source code for free. It includes access to the following apps:
- Website Builder
- Blog
- eCommerce
- Forums
- Live Chat
- eLearning
- Sales
- CRM
- Point of Sale
- Invoicing
- Inventory
- Purchase
- Manufacturing
- Maintenance
Odoo Enterprise has a free plan that includes access to only a single application/module, and it accommodates unlimited users. Then, it has two paid plans: Standard and Custom. The Standard plan costs $24.90 per user, per month (with discount included for new users) that accommodates an unlimited number of apps. The Custom plan costs $37.40 per user, per month and are for organizations that prefer to customize Odoo to fit their requirements.
Odoo also provides an Implementation Success Pack in four pricing tiers that range from $3,060 to $21,250.
Bottom Line
NetSuite prefers to give prospects a personalized quote, while Odoo lists pricing up front via its site.
Customer Support
NetSuite
NetSuite offers two support plans: Basic and Premium. The Basic plan is included with each subscription, and its features are:
- 24/7 phone support for Severity 1 (critical) cases
- The ability to browse articles, watch tutorials and submit tickets through the SuiteAnswers knowledge base
- Support Community user forum
The optional Premium support plan includes all of the features of the Basic plan, plus:
- 24/7 phone support for Severity 1 and Severity 2 cases
- Business hours phone support for Severity 3 and Severity 4 cases
- Four authorized support contacts
Odoo
For Odoo Community, support is limited to the Odoo Community forum, product documentation and tutorials. Odoo Enterprise, meanwhile, has 24/5 (Monday through Friday) email support for billing or subscription questions, bug fixing services or issues with version upgrades. Lastly, the Implementation Success Packs also include access to a dedicated consultant and 24/5 email and live chat support.
Bottom Line
NetSuite offers emergency phone support in its Basic plan, and users looking for phone support for all severity cases will need to upgrade to its Premium plan. Meanwhile, Odoo strongly prefers email support, but users can reach the vendor by phone in case of an emergency.
ERP Vendor Comparison Guide
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