Any business would require ERP software to optimize organizational operations. Of course, there is always a requirement of ‘much more’ from the tool if we start looking at the various options. NetSuite and Epicor fall under the same category of best offerings and have delectable additional features that shall be useful to run your business with minimal manual effort.
One of the main reasons NetSuite and Epicor are preferred is because of the large volumes of data they can handle. Especially for mid-sized and large corporations, software like NetSuite becomes inevitable. It not only saves a lot of time in doing unnecessary tasks but also has the capacity to give useful reports on a real-time basis. Moreover, Epicor is immensely popular as NetSuite and has specific solutions to select industry types that you may not find in Oracle NetSuite. This article shall give a piece of detailed information about the differences, similarities and also an in-depth comparison of both the tools. Upon reading this you will definitely have an idea of choosing either of the two for your organization. In fact, any ERP software must suit your company’s needs too.
NetSuite and Epicor – History You Must Know!!!
NetSuite was founded in 1998. When Evan Goldberg started NetSuite, it was a simple web-based account management software. However, in a quick time, a massive transformation of the tool happened. NetSuite was developed into a spectacular ERP software that also handles
- Financial Planning and Management
- Omni Channel Commerce
The best part of the software is, it was and is a cloud-based tool. That means to say, you can log in to the tool anytime and from anywhere without any hassle.
Interestingly, Oracle acquired NetSuite for a whopping $9.3 Billion in 2016. From then on, it is called Oracle NetSuite. In fact, the financial management aspects took pace after this merger. Further, NetSuite was earlier targeting the small, medium and large corporations. However, it was preferred majorly by the larger ones as the need for the software is too much for such mid and small-sized companies. The underlying reason is, even if they buy the product, many features in the tool may be left unused but still end up paying for the services. It was considered expensive too. Once Oracle took over NetSuite, the entire scene changed. They reworked the price package and started offering what the customer requires and not those features that are unnecessary for them. Of course, the subscription pattern of business worked wonders for both parties.
NetSuite now has a wide range of customers connected to over 200 countries. Thanks to multi-channel support and multi-currency transaction support. Oracle NetSuite has over 16000 customers worldwide. No doubt, they are pioneers in cloud-based solutions.
On the other hand, Epicor has a deep history in business software creation and maintenance. Epicor Software Corporation was started in 1972. The company was based out of Austin, Texas. The software products developed then were under the name Triad Systems Corporation. In fact, before the company could be named Epicor, it had one more name as well. It was called Activant Solutions Inc.
The growth of the company happened through mergers. The major task force was to create business software solutions that shall help the clients to manage and maintain accounts. The financial product in the form of accounting solutions was manufactured and distributed for LAN based environments earlier.
Once DataWorks acquired the company, it was named Epicor Software Corporation. The company is owned by KKR, a PE firm that had bought it for $3.3 Billion in 2016. Epicor provides the following services now
- Enterprise Resource Planning
- Customer Relationship Management
- Supply Chain Management
- Human Capital Management
As software to companies to automate their business processes. They have two different models to deploy the software. One is the cloud-based solution as a SaaS and the other is the on-premise deployment of the product.
They are on par with NetSuite in terms of their customer count. They have around 20000 customers in 150 different countries of the world. They have more than 15 different products developed mainly for
- Retail Industries
- Manufacturing Industries
- Production Industries
Epicor also caters to several other niches and helps organizations of different sizes to flourish using their products. You will get to understand the industries that use either of the two tools and learn which of the two; Epicor vs Oracle NetSuite suits your organizational requirements.
Target Industry – NetSuite Vs Epicor
NetSuite, being an online software solution, enables most companies to automate their business functions. It can handle all the functionalities in a single system. In fact, there is no requirement of hardware and upfront charges too. That means to say, there is no maintenance fee or any complex fee set up for using the services. Any NetSuite Implementation partner shall help you with a detailed overview of services that can suit your business requirements.
Usually, the organizations use NetSuite for the following services
- Manage Inventory
- Track Finance Data
- Setting E-commerce Stores
- Customer Relationship Management
- Human Resource Management
Basically, it is suitable for all the retail as well as manufacturing industries.
On the other hand, Epicor has similar services to offer to its clients. In fact, it helps to create industry-specific software for your business needs. As said earlier, you can either use web-based solutions or implement on-premises solutions, depending on your requirement.
The business management platform offered by Epicor is of prime advantage over many ERP solutions, especially for its versatility in handling business functions. As such, finance tracking and account management is the key area it focuses too. The types of industries that use Epicor are
- Manufacturing
- Distributing
- Retail
- Lumber and Building Materials
- Automotive and
- Services
The centralized service operations offered by Epicor makes it stand out among the ERP solutions in the market. The companies basically look for Epicor to take care of the following services
- MES – Manufacturing Execution System
- Supply Chain Management
- Financial Management
- Human Capital Management
- Customer Relationship Management
- Service Management
- Payment Processing
- E-Commerce Solutions
Though we have listed down the industries that are generic in nature, let us take a look at the comparison of both the software in terms of industry specificity.
| NetSuite | Epicor |
| Retail & Ecommerce | Aerospace & Defense |
| Advertising, Media & Publishing | Automotive Organizations |
| Nonprofits & Social Venture | Electronics and Gadgets |
| Professional Services | Food Industry |
| Software and SaaS | Mills & Metals |
| Manufacturing | Medical Devices |
| Wholesale Distribution | Manufacturing |
Before we move further, let us see the initial Epicor vs Oracle NetSuite comparison.
- NetSuite offers cloud-based ERP solutions, CRM, and PSA to small, medium and mid-market companies, while Epicor is a giant offering ERP solutions to small, medium and large corporations. It specializes in manufacturing and distribution companies.
- NetSuite has been in business for the past 20 years, whereas Epicor has been available in the market for 49 years.
- Finally, NetSuite caters to more than 16000 customers in over 200 countries while Epicor is available in 150 countries and serves 20000+ customers.
Features and Functions of NetSuite and Epicor – A detailed Comparison
Financial Management
NetSuite is named for automating the core finance process without bypassing any government norms. In fact, it helps to forecast the budget as well. Organizations prefer NetSuite to manage their finance for the very fact that it follows compliance all the time. More importantly, it follows compliance based on the country you belong to.
Real-time visibility of any transaction is possible too. If you are planning to look at the performance of your business in terms of finance, you can do it with a click. Moreover, the exhaustive framework not only allows you to see the financial transaction on the whole but also helps in gaining thorough insights on individual transactions. The financial management solution integrates with other business applications without any hassle.
On the other hand, Epicor is a giant in financial management aspects. Right from the usual bookkeeping process to a well-advanced analytics report, you get almost everything. The automation of the Financial process can be made which NetSuite also does. It also has transaction visibility and transparency which is easy to use and view as well. More importantly, it also looks after the compliance factor based on the country you live in, and at the same time maintains complex standard requirements for your industry too.
Be it the sales tax automation or income tax returns receivables, you can get the information in a snap. Tax calculation based on the country’s norms is possible too.
| NetSuite | Epicor | |
| Accounts Payable | Accounts Payable | |
| Accounts Receivable | Accounts Receivable | |
| General Ledger | electronic funds Transfer | |
| Multi-Currency | Bank Reconciliation | |
| Fixed Assets | Tax Management | |
| Multi-Company Consolidation | Payroll | |
| Revenue Recognition | Collections | |
| Subscription Billing | Credit Management | |
| Forecasting & Budgeting | ||
| Financial Planning & Analysis |
Supply Chain Management
For you to keep a track of the flow of goods from the suppliers to the customers can be done with utmost ease in NetSuite’s case. In fact, the seamless production process is always kept intact. It helps track the materials that are available and required manpower for the same helps businesses in focusing only on the growth prospects. The tool helps to identify the shortcomings well in advance that shall help you to take the corrective measures as well.
The accurate scheduling capacity of the tool is indeed commendable. The purchase process is automated too. Be it communication with the suppliers or sending a purchase order automatically, can be done with minimal manual effort. The predictive analytics tool imbibed in the system can help you forecast the requirements based on the production rate too. NetSuite supports in meeting the demands and supplying the products with utmost accuracy on the time factor too.
Epicor similarly supports businesses with small differences. We may not call it a shortcoming, but the industry-specific nature of the tool helps you to choose Epicor if it suits your requirement. All the more, the tool helps in managing the inventory and helps in tracking the supply of materials with the same amount of accuracy that NetSuite does. In fact, the reviews say that Epicor has greater efficiency in supply chain management than the Oracle counterpart.
This tool, be it the on-premise or the cloud-based software, helps you remove the items that do not add value to the manufacturing process. In a way, it helps in reducing the cost too. This feature, you might not find in NetSuite. More importantly, the optimization of supply chain management is done effectively in this case. You can integrate the entire inventory system to come to an informed conclusion about a certain situation at the production place. The proof of delivery in the form of invoices, and secured shipping process allows any organization to opt for Epicor.
| NetSuite | Epicor | |
| Order Management | Purchase Management | |
| Production Management | Sourcing & Procurement | |
| Inventory Management | Inventory Management | |
| Procurement | Advanced Material Management | |
| Warehouse & Fulfillment | Warehouse & Fulfillment | |
| Demand Planning | Supplier Management | |
| WIP & Routing | Shipping & Receiving | |
| Work Orders & Assemblies | Demand Management | |
| Shop Floor Control | Supplier Connect | |
| BOM Maintenance |
Human Capital Management
NetSuite’s Human Resource Management tool is a single system to manage the entire HR functionality. Be it employee management or payroll management, the tool takes care of the entire functionality without any manual intervention. In fact, the tool reduces a lot of unwanted tasks to be done manually too. Say, for example, attendance and tax deductions. The tool helps improve data accuracy and gives the performance report of every employee at the office.
As an organization, you must be wondering how to look for the performance that directly connects with the financials of the firm. NetSuite gives a consolidated report on the same and you can also get clear insights on individuals impact on the company’s financial growth. Moreover, the unwanted administrative costs are drastically reduced too. On the operations and employee growth front, NetSuite is an excellent tool and you will get to know the same as you meet the NetSuite consultants.
Epicor is no less compared to NetSuite in HRMS. They have the complete setup to track and deliver the reports from recruitment to retirement. Engaging the employees for a focused approach can be tangibly seen while using this tool. The automated HR tool shall help you connect with the employees anytime and from anywhere. As an employee, one can measure the achievements and take informed decisions to grow in the organization. You can readily identify the top performers in the system too.
The HRMS tool helps you to identify the talent and skill gap. This can be readily addressed through the automated recruitment platform. Epicor helps in automating the entire process of identifying the gaps till onboarding the newfound talent. You can also integrate the payroll process for seamless finance control.
| NetSuite | Epicor | |
| Human Resources Management | Talent Management | |
| Employee Onboarding | Employee Self-Service | |
| Vacation Scheduling | Time Sheets | |
| Employee Directories | Absence Management | |
| Payroll | Total Compensation Management | |
| Law Firm Package |
Ecommerce and Retail Management
NetSuite for eCommerce allows you to be omnichannel ready with its eCommerce platform. You can sell goods online and in-store as well. With the capacity of the tool, you can build your eCommerce platform around your customer’s needs. NetSuite allows you to create an eCommerce platform that has a seamless checkout gateway as well.
Be it the experience in-store or online, you can be sure that the customer gets to see and choose what they want in a snap. The order management system and the inventory control, helps you keep track of the availability of the products in a certain location. The business intelligence tool integrated into the software helps you make informed decisions about the marketing campaigns too.
With Epicor, you can effortlessly increase sales and reduce costs too. You can track the inventory similar to NetSuite. As such, it offers a good customer experience because Epicor helps in reducing the payment processing costs which NetSuite does not offer. Your employees can be trained without any manual intervention too.
The tool helps to forecast inventory that does not allow you to stock too many items. The tool is in fact smart. It tracks the customer’s purchasing preferences and highlights them accordingly. Of course, you can set up 24/7 customer service too.
| NetSuite | Epicor | |
| Point of Sale | Point of Sale | |
| Mobile Point of Sale | Mobile Point of Sale | |
| E-commerce | Payment Processing | |
| Order & Inventory Management | Total Management | |
| Product Content Management | B2B e-Commerce | |
| Marketing Automation | Dealer Network Portal |
Professional Service Automation
NetSuite is a robust tool with massive features embedded in it. With PSA, you can improve the utilization of the resources and streamline the invoice process too. In fact, the on-time project delivery mechanism is monitored at every level to ensure prompt delivery. You can get to see the performance and profitability on a real-time basis.
Many organizations opt for NetSuite as it has higher success rates in delivering the projects. The advanced resource management facility helps in tracking the utilization as well. You have the liberty to automate and manage the business functions with one system.
The comprehensive service management software offered by Epicor does the same as NetSuite and much more as well. It not only helps in gaining the business but also helps in staffing. One can easily streamline the process of product delivery right from the scratch. You can in fact look into minute details of every employee who is connected to a particular project.
| NetSuite | Epicor | |
| Project Management | IT Service Management | |
| Resource Management | Service Management | |
| Timesheet Management | Field Service Automation | |
| Expense Management |
NetSuite and Epicor – Functional Comparison
Delivery Options and Ease of Integration
As with NetSuite, we are aware that it offers cloud-based SaaS and it runs through a single code base. Not many of us are aware of the fact that this feature helps in smoother integrations and greater reliability. The third-party integrations through cloud-based solutions are made pretty easy in NetSuite’s case. The tool offers greater flexibility and remarkable security when it comes to sensitive data as well.
On the other hand, Epicor is by far the largest platform for an on-premise solution. That means to say, if you are looking for an on-premise ERP, then NetSuite cannot be your choice. Whereas, the cloud-based functionality is recently developed and it has few issues when it comes to implementation and execution as well. You might require multiple hosting partners to do so.
So, if it is going to be a Cloud-based solution, then it must be NetSuite.
Similarly, the ease of integration with third-party software is remarkable in both cases. But, the third-party tool must be cloud-based and on premise-based in either of the cases. Further, NetSuite Alliance Partner shall notify you that any third party software that is an on-premise solution can work well with NetSuite and that’s the truth too.
Cost Factor
The Cloud-based solutions offered by NetSuite and Epicor do not seem to have any difference in the subscription cost. As said earlier, with the errors still available in the software, you may find NetSuite far better for its pricing options.
At the same time, it is not only about the subscription but also about longer run usage and costs involved in it. The maintenance, upgrades and licensing pattern adds further cost to NetSuite while Epicor works out less expensive.
For example, NetSuite requires named user access, while Epicor’s login credentials can be shared across time zones, leaving the client to buy only one license instead of two in the case of NetSuite.
Scalability Factor
The cloud customization process in NetSuite is quite limited compared to Epicor. As such, NetSuite is suitable for small and mid-sized companies that have minimal complexity in the functions. On the other hand, Epicor deals with large corporations with more complex functionalities. Further, the scalability of Epicor is boundless.
Language Support
Both the tools are versatile when it comes to the number of languages it supports. While NetSuite supports 27 global languages, Epicor is the best in this aspect. It maintains robust operational efficiency in terms of any business application. That means to say, the applications running in one language in a different country will have different language support depending on the location. It helps keep the data intact and the information’s readability is also feasible.
Customer Support
NetSuite and Epicor fall under the same bracket of support features. If one offers 24/7 tech support over the phone, the other offers the same. Both offer live as well as an online training facility for the users to learn clinical insights about the tool.
SuiteAnswers helps with all the relevant and required information while virtual education is available with Epicor. One slight difference is, Epicor offers instructor-led training as well.
Security and Reliability
Both the tools are on par when it comes to data security. Be it the on-premise or the cloud-based solution of Epicor, they are excellent. NetSuite on the other hand develops every module keeping security factors in mind. You can get to see it as the user credentials are also based on the levels and not everyone can view everything.
Can We Conclude?
The dissection of features in each of the tools helps us understand many things. If you watch them closely, the quality management factor in both the tools is just the same. While the purchase management capacity of Epicor eclipses NetSuite conveniently. At the same time, there is enough opportunity for both to develop product technical support.
It all bottles down to what type of tool you are looking at. Is it on-premise or cloud-based? Epicor is an excellent on-premise software while NetSuite is the cloud giant in ERP.
Experts also suggest that if you are a manufacturing company, the inventory system and purchase management capacity of Epicor suits your business while NetSuite is more applicable to service based industries.
Both the tools help you achieve the goals effectively. With multi-language and multi-currency support, the financials are intact. You can look at the growth of your company on a real time basis too.
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