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LAST UPDATED: February 6th, 2021

NetSuite Planning and Budgeting is used by companies worldwide to meet organization-wide business planning needs. It is designed to address various financial, sales, contractual, and operational planning use cases across multiple industries. It is accessible via rich interfaces through the web or Microsoft Office.

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The Good

  • Intuitive Interface — Premium Edition
  • “What If” Analysis
  • Microsoft Office Integration

Intuitive Interface — Premium Edition

NetSuite’s Planning and Budgeting interface is designed to allow users to easily access plans, reports, instructions, lists, tasks, and more via the web or mobile device. 

The home screen displays tiles that offer one-click access to various menus and modules. 
Say you click on the Workforce tile. This will lead you to the staff roster. From there, you can then review current employee details as well as make adjustments. 

The Forecasting tile gives you access to modules that contain pre-configured logic designed to simplify the process of forecasting various revenue and expense items. 

“What If” Analysis

Users can understand the impact of any change (big or small) with NetSuite’s “What-If” scenarios.

Microsoft Office Integration

With NetSuite’s Planning and Budgeting software, users can easily integrate with Microsoft Office tools such as Microsoft Outlook, Excel, Word, and PowerPoint. 

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The Bad

  • Counterintuitive Software
  • Undisclosed Information

Counterintuitive Software

While NetSuite boasts that its software and platform are easy-to-use and intuitive, many consumers state otherwise. Several users felt the steep learning curve takes too much time and energy for everyone to learn, therefore nullifying the supposed time and energy saved by using the software. 

Undisclosed Information

NetSuite isn’t exactly the most forthcoming when it comes to pricing. While browsing the website, there is nothing regarding its plans, pricing, contract lengths, or extra costs.

Unfortunately, NetSuite is known to be one of the more expensive budgeting and forecasting software providers. Plus, many customers have complained about the company not being completely transparent about additional features and the number of service cost increases. 

You can sign up for a free product tour, but there isn’t much information about what that includes. 

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The Bottom Line

NetSuite’s Budgeting and Planning tool are perfect for those looking for a software that gives an in-depth look into how your business is operating. The software is excellent for comparing actual vs. projected results, viewing the impact of business decisions, and aligning your organization. 

However, there is a steep learning curve to the software and many people find it challenging to navigate. Additionally, some customers were frustrated with NetSuite’s ambiguity when discussing pricing. If you do decide to go with NetSuite, we recommend contacting the company directly and asking about the costs of additional features and service increases. 

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