NetSuite Accounting vs Tagetik

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Our analysts compared NetSuite Accounting vs Tagetik based on data from our 400+ point analysis of Accounting Software, user reviews and our own crowdsourced data from our free software selection platform.

NetSuite Accounting Software Tool
Tagetik Software Tool

Product Basics

Netsuite Accounting assists financial leaders in designing and modifying operations by pairing bookkeeping with robust compliance management to increase business performance and close proficiency. Immediate access to information offers users full visibility to study all the nooks and crannies and expeditiously fix issues. This visibility enables users to draft thorough statements and disclosures that conform to ASC 606, GAAP, SOX and other compliance requirements.

Its key accessories include tax management, general ledger, accounts receivable and payable and cash management.
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Tagetik is a broad all-in-one financial ERP with various modules such as budgeting, planning and forecasting, financial reporting, disclosure management, compliance regulatory reporting and more.

It runs on a unified apparatus that fuses finances and operations while facilitating consolidations and closes, scheduling, analytics and documentation, disclosures and compliance. Its deployments include cloud and on-premise.
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$50,000 Annually
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Tailored to your specific needs
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Windows
Mac
Linux
Android
Chromebook
Windows
Mac
Linux
Android
Chromebook
Cloud
On-Premise
Mobile
Cloud
On-Premise
Mobile

Product Assistance

Documentation
In Person
Live Online
Videos
Webinars
Documentation
In Person
Live Online
Videos
Webinars
Email
Phone
Chat
FAQ
Forum
Knowledge Base
24/7 Live Support
Email
Phone
Chat
FAQ
Forum
Knowledge Base
24/7 Live Support

Product Insights

  • Find and Finish Products: Check recent activity to find the latest tasks users were working on. 
  • Log Important Information: Log and store crucial information from calls, emails, sales quotes and other forms of communication. 
  • Execute Financial Consolidations: Consolidate financials from numerous geographical regions and execute account roll-ups in real time. 
  • Smooth Integration with Inventory: Integrate Netsuite Accounting with Netsuite's Inventory management solution to receive real-time tracking information on incoming and outgoing products as well as update balance books and other financial reports. This integration will enable users to monitor and stay in the loop of their supplies. 
  • One-Click Approvals: Approve large quantities of sales orders in one click without approving them individually. 
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  • Improved Forecasting: Implement real-time simulations and automation in the budgeting, planning and forecasting module to provide users with the flexibility to plan any way they want at any time. This tool helps users react swifter and make faster, well-informed decisions. 
  • Maintain Compliance: Obtain generally accepted accounting principles (GAAP), international financial reporting standards (IFRS) and extensible business reporting language (XBRL) reports to ensure bookkeeping operations meet these and other compliances. The prompt financial functions, validation rules and full audit logs guarantee users have every piece of information necessary and complete process visibility. 
  • Single Source of Truth: Access a centralized location of data in the financial reporting accessory. It moves information into documents such as monthly financial statements, board books, annual reports and more automatically so users can spend more time on high-priority accounting tasks. 
  • Ensure Accuracy: Check data entry at every turn with the disclosure management attribute. Since disclosures appear automatically with the most up-to-date information, this reduces manual data inputting and human errors, ensuring better accuracy and a better snapshot of company information. 
  • Seamless Collaboration: Facilitate reporting for the financial, management, statutory and regulatory departments with effective collaboration and control extensions so it's easier to get in touch with the report writers in case revisions or updates are needed. Users also gain full control and visibility over workflows and audit trails to ensure no stones are unturned and everything is tallied for recordkeeping and compliance purposes. 
  • In-Depth Dashboards: Handle bulk amounts of granular insights and effortlessly convert numbers into practical models, simulations and predictive analytics with the advanced analytics and dashboard appliance. Predictive analytics can help companies better plan for the future while understanding its current status and health.  
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  • Manageable Ledger: Add custom impact lines to transactions like invoices and vendor bills throughout single or numerous bookkeeping journals, reducing time in bank reconciliation, period closes and audit processes. 
  • Arrange Accounts Receivable: Perform accurate tax calculations on invoices and promptly post order transactions to general and accounts receivable ledgers for immediate tax processing and billing. 
  • Spot Account Peculiarities: Adjust dashboards, reports and KPIs for current views on customer aging, invoice analyses, repeatable invoices, deferred revenues and exception reports that catch account anomalies. 
  • Supervise Taxes: Work with the exact tax rate every time with the tax management accessory. It automatically applies the correct tax rate to purchases and is equipped with tax calculations for more than 50 countries and currencies. 
  • Insightful Cash Management: Receive immediate understandings of global transactions throughout numerous bank accounts and credit cards. Users may also review and predict cash requirements, conduct automatic bank reconciliations, swiftly deposit payments and safely develop accounting entries. 
  • Control Payments: Review and manage payment types to boost payment control with the payment management module. This module accepts several credit and debit card types and other forms of electronic payment. 
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  • Rolling Forecasts: Develop in-depth rolling forecasts with this function in the budgeting, planning and forecasting module. Users may integrate data from tactical plans, budgets and actuals and make modifications to costs and revenue targets, generating a better estimate for fiscal year outcomes. 
  • Consolidation Cockpit: Access a specific dashboard that enables users to supervise every consolidation step and study results in the consolidation apparatus. The cockpit also exhibits particular data methods that should be performed with consideration to a specific consolidation situation. 
  • Communications: Collaborate with users across departments via comments, instant messaging or email concurrently with managers tracking project progress through dashboards in the collaboration component. 
  • Disclosure Management: Merge with Microsoft Office, ERPs, CRMs and other existing programs with this tool. Users may also coordinate text to numbers with instant narrative adjustments, reduce version overlap with support from other users, receive a centralized location of data and accelerate disclosure with pre-set templates. 
  • Compliance Regulatory Reporting: Obtain every necessary thing to expedite the regulatory reporting process while dwindling reporting sequences. Users can efficiently comply with pre-packaged solutions, diminish hazards with standard calculations and files and modify changes. 
  • Smart Reporting and Analytics: Implement documents and data queries that are equipped with financial intelligence analytical tools. 
  • On-the-Fly Analysis:  Adjust report frameworks and breakdown interior and exterior data to study outcomes rapidly.  
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Product Ranking

#5

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Accounting Software

#336

among all
Accounting Software

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User Sentiment Summary

Good User Sentiment 2235 reviews
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78%
of users recommend this product

NetSuite Accounting has a 'good' User Satisfaction Rating of 78% when considering 2235 user reviews from 4 recognized software review sites.

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4.9 (19)
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3.9 (1127)
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4.1 (715)
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3.5 (374)
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Synopsis of User Ratings and Reviews

Overall Performance: Of the users who discussed the performance of this solution, 58% said it was outstanding because it has automatic updates, simplifies accounting tasks and provides accurate data.
Customizable: Precisely 68% of users who addressed this program's customization said it is easy to configure to their business needs.
Accessories: Of the users who mentioned this application's accessories, 52% said they are effective, praising specifically the customizable dashboard, search engine that saves searches and customizable accounting reports.
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Streamlined Financial Close: Tagetik's automation features, such as its consolidation engine and intercompany reconciliation tools, help expedite the financial close process, saving valuable time and resources for accounting teams.
Enhanced Data Accuracy: The platform's data validation rules and audit trails minimize errors and ensure data integrity, leading to more reliable financial reporting.
Improved Collaboration: Tagetik's centralized platform facilitates communication and collaboration among finance and accounting teams, breaking down silos and promoting a more cohesive work environment.
Regulatory Compliance: Tagetik helps organizations comply with complex financial regulations, such as IFRS and GAAP, by providing pre-built reporting templates and disclosure checklists.
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System Performance: Approximately 41% of the users who mentioned this program's overall performance said it was slow and experienced crashes.
Functionality: Of the users who discussed this solution's functionality, roughly 47% said it was lacking features including budget forecasting, fixed assets and support for .xlsx and .xls files.
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Steep Learning Curve: Tagetik's robust functionality comes at the cost of complexity, often requiring extensive training and onboarding for users to become proficient. The interface can feel overwhelming for new users due to the multitude of features and options available.
Customization Challenges: While Tagetik offers a high degree of customization, implementing and managing these customizations can be resource-intensive and may require specialized technical expertise. This can lead to increased implementation time and costs for organizations with unique requirements.
Performance Issues: Some users report experiencing performance slowdowns, particularly when working with large datasets or complex reports. This can impact productivity and user satisfaction, especially during critical financial closing periods.
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Netsuite Accounting is a thorough accounting ERP that superintends all bookkeeping tasks. Users are most fond of its performance with automatic updates, potent workflows and precise data collection as well as its string of features-including, tax management, general ledger, accounts payable and receivable, CRM, multicurrency and more-to boost productivity. It's also adjustable, so users may tailor it to meet their company needs. Although some users were disappointed with the system's sluggishness, occasional crashes and lack of budget estimating, fixed assets and support for .xlsx and .xls files, the majority find it an adequate bookkeeping software.

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Tagetik, a financial performance management software, has garnered positive feedback for its robust functionality and flexibility. Users appreciate its ability to handle complex financial processes, such as consolidations, budgeting, and forecasting, with ease. Its strength lies in its ability to adapt to unique business requirements, allowing for customization and integration with existing systems. For instance, one user highlighted how Tagetik seamlessly integrated with their ERP system, streamlining data flow and reducing manual effort. This adaptability sets it apart from competitors that offer more rigid solutions. However, some users noted that Tagetik's extensive features can lead to a steeper learning curve. The initial setup and configuration may require more time and effort compared to simpler software options. Additionally, while Tagetik offers comprehensive customer support, some users expressed a desire for more readily available resources and documentation. Despite these challenges, users generally agree that Tagetik's capabilities outweigh its complexities, making it a valuable tool for organizations with intricate financial needs. Tagetik is best suited for mid-sized to large enterprises with complex financial operations and a need for advanced reporting and analytics. Its scalability and adaptability make it an ideal choice for organizations seeking a comprehensive solution to manage their financial performance effectively. While the initial learning curve may require investment, the long-term benefits of improved efficiency, accuracy, and insights make Tagetik a worthwhile consideration for businesses looking to elevate their financial management processes.

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