Part 1
These days, there is a plethora of Cloud accounting software packages available. However, the two that have stood out for us in recent months are Sage Intacct, and one of its main competitors, Oracle NetSuite. Whilst NetSuite is a more established brand in the UK, Sage Intacct is a relatively new product to the UK, bought by Sage in 2017 and has taken the World by storm
Located on The Cloud
In today’s climate, now more than ever using a cloud-based system has become a priority with the requirement to work remotely. Both systems are completely cloud-based which gives users access anywhere at any time! Gone are the days of expensive hosting and maintenance costs of servers which came with their problems such as downtime. Both Intacct and NetSuite boast an uptime of more than 99% meaning, no noticeable disruptions.
Advanced Functionality
Products such as Sage 50 and QuickBooks provide basic levels of functionality for small business accounting systems. However, NetSuite and, more specifically Sage Intacct, provide significantly more features that are crucial for firms with complicated business structures and intricate reporting requirements. Therefore Intacct was created to assist firms with more diverse and complex business structures with their accounting needs.
Scalability
Both Sage Intacct and NetSuite are much more customizable than any of their predecessors. This means that medium-sized firms can now customise their accounting system according to their specific needs. Furthermore, both products will support the needs of large and growing businesses, as they are not limited by a lack of storage capability and scalability moving forwards.
Sage Intacct or Oracle can be beneficial to your business, it allows you to worry less about the finance and more about the important thing: your business. As your business grows, Sage Intacct and NetSuite grow with you. They both aim at SME, but are highly regarded for punching above their weight.
So, Which is Right for You?
At first glance, Sage Intacct and NetSuite seem very similar in nature. Their basic purpose is achieved through the ability to customise their layout for the individual, the provision of advanced functionality for complicated firm structures, and they are linked to the Cloud. However, they are by no means identical. Whilst NetSuite comes in the form of a “jack of all trades, master of none” system, Sage Intacct is much more specific in the way it assists your firm. It is this focus on the services industry and the finance team in particular that gives Intacct the edge over NetSuite.
In the end, the system you get is down to your individual needs. If you intend to fully integrate your accounting system with one singular product, then you may prefer to get Oracle NetSuite. Alternatively, if you are looking for a best-of-class accounting software package, with the capability to integrate with your already established systems, then Sage Intacct is your ideal solution.
If you are still at loggerheads between the two options, then feel free to contact us, we are always happy to help! If you would like to explore Sage Intacct more, you can watch our on-demand Sage Intacct webinars, read our Sage Intacct blogs or learn more about Sage Intacct modules.
