• NetSuite is an integrated cloud business suite with robust tools for CRM, ERP, accounting and e-commerce.
• NetSuite is a truly unified platform that can manage all customer-related activities.
• NetSuite has native integrations for nearly any sales-related process, feature or tool.
• This review is for small business owners and managers who are interested in implementing NetSuite CRM. 

NetSuite CRM is an enterprise-level customer relationship management (CRM) tool that gives businesses across many industries a central location for managing interactions with potential customers, suppliers and more. The CRM is considered an added module to the required NetSuite enterprise resource planning (ERP) platform, which includes financial management tools, accounting software, inventory management tools and HR software. 

With the ERP platform's features and other available add-on modules, NetSuite is one of the most robust CRM options we reviewed. It allows businesses to support the entire customer life cycle, from lead generation to fulfillment and renewal. Although most CRM platforms we reviewed offer hundreds, or even thousands, of third-party software integrations, NetSuite takes that a step further by handling everything in-house with native integrations. These add-on modules support a comprehensive workflow via a central data source that's accessible to all authorized users at any time from a computer or mobile device.

NetSuite Editor's Score: 93/100

Why We Chose NetSuite for E-Commerce

NetSuite's ERP platform provides professional tools for financial management, order inventory, warehouse management and supply chain management. As a truly unified platform, NetSuite eliminates the need for third-party software integrations. Through its e-commerce add-on module, NetSuite has native integrations for nearly every imaginable sales-related process and workflow required for B2C and B2B companies. The feature will help you optimize inventory management by connecting inventory and order management data so you can fulfill orders quickly for same-day shipping. This module also includes tools to build engaging websites that are capable of providing an intuitive shopping experience with image galleries, product comparisons, advanced site search and social sharing.

Source: NetSuite

The NetSuite CRM includes built-in customer service management tools to Strengthen customer satisfaction and lower service costs. You can expedite resolutions by assigning, managing and routing customer support cases via phone, fax, email and the web. The included reporting tools allow you to monitor your customer service team's metrics, including call times, customer satisfaction scores, subscription renewal rates and call volumes. You can also Strengthen customer self-service with case submissions, order status tracking, and a searchable knowledge center with published articles and videos to resolve common issues or answer simple questions.

Source: NetSuite

Pros

• NetSuite is a unified, all-in-one commerce solution for sales, marketing and operations. 
• The highly customizable platform can be built to your exact specifications.
• Native integrations ensure a common user interface and perfect functionality across all modules.

Cons

• You have to call for NetSuite's CRM pricing.
• Using the CRM requires an annual license for other NetSuite products.
• You will be charged a one-time fee for your initial NetSuite setup.

Did you know?: There is a $500 charge for an accounting cleanup and onboarding for the first month. After that, you'll be charged monthly based on your average monthly expenses over three consecubtive months.

Usability

As an enterprise-level CRM with many advanced tools and features, NetSuite is not among the easiest software applications for new users. If usability is important, consider our Keap review or monday.com Sales CRM review instead. However, anyone with experience using NetSuite's ERP platform or other Oracle software services will feel at home. To keep sales staff on track each day, the CRM's sales dashboard prioritizes reminders, which highlight the available opportunities to close, the tasks that need to be completed and the total contacts in the pipeline that have not had any sales activity in the past week. The main section of the dashboard lists your key performance indicators for sales, new opportunities and new leads. 

Tip: If you have a large company, consider pushing for certification training for a few key internal users and administrators, to ensure your team has the knowledge and skills to maximize your NetSuite investment.

You can easily drill down to any metric to get a deeper understanding of your performance or missed opportunities. The dashboard can also be customized to highlight the mix of tools, trends and information that is most important to your business goals. When the CRM is connected with NetSuite's e-commerce solution, it becomes a single system of record for all customer activity and transaction data, thus improving sales effectiveness and enhancing the customer experience with real-time data integrations. With the included mobile app, you can access real-time business information, enter data, update customer information, submit expenses and take calls. 

Source: NetSuite

NetSuite Features

Unlike most CRM software providers, NetSuite does not separate its features into distinct plans. Instead, NetSuite allows you to customize your software with the features and tools that matter to your business or industry. As a stand-alone CRM module, NetSuite has dozens of advanced features and customizable tools to support sales teams with the real-time data and insights they need to drive sales and provide exceptional, personalized service. This includes sales force automation, customer service support, marketing automations, comprehensive quotes, commission payouts, sales forecasts and mobile access. In the chart below, we've listed a few of the features that make NetSuite such a powerful CRM platform.

Sales Force Automation

As the heart of a CRM system, sales force automation empowers your sales staff with a clear overview and granular details of every aspect of your customer relationships. The dashboard provides actionable insights into lead, prospect and customer activity to better inform sales strategies and prioritize the day's or week's activities. The probability-based forecasting tools take the guesswork out of budgeting, with real-time sales data, customizable role-based dashboards, and CRM analytics for sales managers and agents. With direct access to all financial data through the ERP, all of your customers' information is updated in real time for easy and accurate reports.

Source: NetSuite

Configure, Price, Quote (CPQ)

NetSuite's CPQ feature provides you with an easy and error-proof process for selling highly configurable products with many variables, such as materials, colors, sizes and textures. The platform uses internal logic to prevent configuration errors, thereby saving you time and money on rechecking or reworking orders for products such as custom windows and front doors. With easy-to-use digital tools for creating 3D product visualizations and automating sales proposal generation, your sales teams can shift their focus from providing time-consuming quotes to nurturing leads and opportunities.

Source: NetSuite

Partner Relationship Management

This unique CRM feature provides a real-time information flow to boost partner collaboration efforts in sales and marketing activities. You can work with other brands or vendors, creating a conduit between organizations for joint marketing campaigns, lead management, pipeline management and order processing. The platform can also automatically handle any partner commissions and royalties with shared data to alleviate any headaches or miscommunication about owed payments. You can also calculate your commission or partner payments using the same internal parameters on sales, quantities, profitability or custom criteria.

Source: NetSuite

Native Integrations

When we discuss integrations with CRM platforms, we're usually talking about the platform's ability to connect seamlessly with third-party software providers such as Slack, Mailchimp and Outlook to streamline operations. With NetSuite, the features offered by every must-have CRM integration – including communications, billing, accounting, time tracking, customer service and outbound emailing – are available as added modules that have been designed to work perfectly within NetSuite's ecosystem. You can purchase add-on modules at any time to customize your CRM for any industry or type of business. NetSuite also integrates with many popular business software service providers and includes open APIs for custom integrations. If you're looking for a CRM that easily integrates with your existing tools, consider HubSpot or Keap.

Key takeaway: To get the most out of your NetSuite CRM, you must commit to the platform as your main software-as-a-service (SaaS) provider.

NetSuite CRM Cost

Unlike the vast majority of sales CRM software providers, NetSuite does not have publicly listed pricing or a variety of monthly plans separated by available features. NetSuite's sales CRM software is considered an added module to the core platform that requires an annual license fee. The total cost for NetSuite with the CRM add-on is based on the number of account users. NetSuite also charges a one-time implementation fee to cover the cost of the initial setup. According to our research, small businesses can expect to pay well over $1,000 per month for the licensing fee, add-on modules and additional user fees. Prices will vary greatly based on the sales CRM features and additional tools you include in your Oracle NetSuite platform.

NetSuite Setup

NetSuite requires a one-time implementation fee for the initial setup process. Because the setup for the CRM also requires NetSuite's ERP, the full implementation process can take weeks, if not months, of planning, data migration, configuration, testing and training for your team to use the platform efficiently. In most cases, you'll need to assign a reliable project manager to work with your NetSuite representatives to ensure a smooth implementation and launch. With so much time and effort involved, NetSuite's CRM is best for companies that plan to commit to NetSuite as their main SaaS provider. 

NetSuite Customer Service

Any user can reach a NetSuite support specialist at any time from within the program via the help button. You can also contact a support specialist by phone or web chat at any time if you have your account information. However, NetSuite recommends customers use the online form or the company's SuiteAnswers knowledge center for any how-to-related questions or technical issues.

For larger projects and custom integrations, you may want to consider reaching out to a certified NetSuite consultant or agency. NetSuite offers numerous product certifications for administrators, users, consultants and developers. The existence of these certification programs speaks to the complexity of the platform and its seemingly endless potential for customization in any industry. Many of the certification programs recommend at least one year of experience in managing NetSuite, in addition to coursework and a timed exam that consists of multiple choice and matching questions.

NetSuite Drawbacks

For small businesses in particular, the lack of transparent pricing and estimated high costs are among the biggest drawbacks of NetSuite's CRM. To accurately compare NetSuite with competing software, you'll have to speak with an Oracle sales representative about the many features and tools you'll require, and they'll supply you a custom quote. For many small business owners who may not know exactly what they need from their CRM and related software services during the consideration stage, NetSuite can be a difficult sell.

Businesses that aren't ready to adopt NetSuite for more than the basic CRM software will likely need to purchase NetSuite Connector as an added module to integrate with selling tools such as Shopify, BigCommerce, Magento, WooCommerce, Amazon, eBay and Walmart. While NetSuite does have a robust set of native cloud-based tools for nearly any business process, accessing them typically comes with an added monthly module fee.

Methodology

We considered all of the major CRM software providers for review in 2022. After performing our initial research into each platform, we selected 11 of the leading customer relationship management solutions available today for small businesses: Salesforce, monday.com Sales CRM, Freshworks, Keap, Zoho, Oracle NetSuite, HubSpot, Insightly, Pipedrive, SugarCRM and Zendesk. After spending many collective hours participating in live product demos and testing each platform through trial or paid accounts, we identified the best use case for 11 providers to help small businesses owners and managers choose the best CRM tool for their needs. We also took a deeper dive into six of our top performers, reviewing them in detail to provide greater insight into the features and tools that separate the best CRM software from the competition. At its core, NetSuite is an ERP platform with native integrations for nearly every business process required to support online sales. The e-commerce module lets you easily manage inventory, collect payments and fulfill orders fast for same-day shipping in some cases.

NetSuite FAQs

Are SAP and NetSuite the same?

No, SAP and NetSuite are separate business service providers that specialize in enterprise resource planning solutions. The two companies have similar CRM modules that can be added to the core platform for an additional monthly fee.

Does Oracle own NetSuite?

Yes, Oracle announced its intention to purchase NetSuite for $9.3 billion in July 2016 in an effort to become a cloud software provider. The sale closed in November 2016, and NetSuite began operating as part of a global business unit within Oracle.

What's the difference between Salesforce and NetSuite?

NetSuite is first and foremost an enterprise resource planning software service with an optional customer relationship management product that's considered an added module. Salesforce is primarily a CRM software provider that offers additional tools to support ERP across industries. 

Bottom Line

We recommend NetSuite CRM for …

• Enterprise-level organizations seeking a unified data solution to manage all customer-related activities.
• Organizations that already use NetSuite's ERP.
• Businesses with complex software integrations in niche industries. 

We don't recommend NetSuite CRM for …

• Small businesses that don't want to adopt NetSuite as resource planning software.
• Small businesses looking for a simple CRM platform.
• Small businesses that need the most cost-effective CRM.

What happened

Shares of some of the world's biggest technology companies gained ground on Friday after several difficult sessions for the market. Semiconductor specialist Nvidia (NVDA 2.54%) was up as much as 2.4%, social media giant Meta Platforms (META 4.21%) rose as much as 3.7%, and customer relationship management (CRM) specialist Salesforce (CRM 3.94%) climbed as much as 3.8%.

While each of the stocks dipped slightly from those highs, the trio were still up 1.5%, 3.7%, and 3.5% respectively, as of 12:46 p.m. ET.

The catalyst that sent a wide swath of technology stocks higher today was a read on consumer spending, which was more robust than many had predicted.

So what

While there wasn't much in the way of company-specific news, some broader economic developments may have provided fuel for the rally.

U.S. retail sales climbed 1% in June, a figure that was slightly higher than the 0.9% increase economists had predicted, though it's important to note that some of the rise in spending was the result of higher prices for food and gas. This better-than-expected read on retail sales followed a 0.1% decline in May, which had fueled fears that a recession might be imminent. 

Consumer spending is the bedrock of the economy and the slightly higher read on spending suggests that shoppers aren't tapped out yet, even as they deal with higher inflation. Some economists suggested the increased spending is being fueled by growing credit card debit, which could weigh on consumers in the future.

The news came on the heels of a report from the U.S. Bureau of Labor Statistics on Wednesday that revealed that inflation in the U.S. rose to its highest rate since 1981. The consumer price index -- which tracks changes in a basket of goods over time -- surged 9.1% year over year in June, fueled by higher energy costs. Gas prices climbed 11.2% in June, following a 4.1% jump in May, so consumers are feeling the pain at the pump. 

Still, investors chose to view the glass as half full and bid up shares of technology stocks, which have been beaten down much more than the broader market. In fact, shares of Salesforce, Nvidia, and Meta Platforms are currently trading down significantly off their highs of late last year, giving long-term investors a compelling opportunity. 

Data by YCharts.

Declines of that magnitude have attracted investors hunting for bargains, even as the potential for a recession remains.

Now what

There were a couple of company-specific developments, but nothing that would move the needle very much.

Nvidia has been on the receiving end of several analyst price target cuts this week as Wall Street grows increasingly concerned about a decline in spending for high-end video game chips, which are the company's bread and butter. 

Meta Platforms got a boost on news that it is testing a feature that allows users to create as many as four additional profiles on its flagship Facebook social media site, linking different identities to specific interests. The move could help drive higher user engagement and boost slowing growth on the platform, though it's still in the testing phase. 

Today's stock price increases appear to be nothing more than a relief rally after a couple of negative trading sessions.

That said, there are reasons for long-term investors to be bullish. Nvidia remains the undisputed leader in providing graphics processing units (GPUs) to gamers, with an industry-leading 80% share of the discrete desktop GPU market. Furthermore, Nvidia is the go-to for semiconductors used in cloud and data center processing, used by all the world's leading cloud providers. At the same time, Meta Platforms dominates the social media space, with 2.87 billion users accessing one of its platforms every day. Salesforce is a pioneer in CRM software and remains the industry leader.

Even as macroeconomic challenges persist, investors with a long-term investing time horizon should be buying up Nvidia, Meta Platforms, and Salesforce stocks -- before the market comes to its senses.

Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. Danny Vena has positions in Meta Platforms, Inc. and Nvidia. The Motley Fool has positions in and recommends Meta Platforms, Inc., Nvidia, and Salesforce, Inc. The Motley Fool has a disclosure policy.