Oracle’s third-quarter financial results look promising, thanks to a 29% increase in its NetSuite ERP implementation.
NetSuite is gaining market share because of its ability to centralize business processes. Businesses use it to track raw materials for manufacturing, inventory levels, accounting information, and ecommerce.
NetSuite isn’t just for enterprise organizations. More small and mid-sized companies are seeing the benefits of NetSuite implementation.
The only prohibitive factor is the NetSuite startup pricing. It’s often cited as the main barrier to implementation.
What do you need to know about NetSuite pricing? You need to know the startup and monthly costs of the enterprise suite.
Read on to learn everything you need to know about NetSuite pricing and how you can measure a return on investment.
NetSuite Startup Pricing
How much does NetSuite cost to implement? It depends on the size of the company, industry, number of users, and what you use NetSuite for.
NetSuite startup pricing usually ranges between $30,000 and $100,000 for small and mid-sized businesses. Enterprise organizations usually invest between $150,000 and $300,000 on NetSuite implementation.
If you have customizations, integrations, or require training, your startup costs will increase.
It is possible to save money on implementation. This NetSuite ERP pricing guide shows you how to save money on NetSuite startup costs.
NetSuite Monthly Pricing
You’re not done at startup pricing. NetSuite is a yearly subscription in addition to the costs above. Again, it depends on the size of your company and the number of users.
Subscription prices start at $999 a month plus $99 per month per additional user. At the high end, a company with several locations could pay up to $4999 a month plus additional costs per user.
You could see higher costs if you invest in add-on modules.
Measuring Return on Investment
With a software package so large in scope, how do you even begin to determine if it’s worth it or not? There are various sites that have a NetSuite pricing calculator. Some include a return on investment calculator.
You could measure your ROI by the percentage of year-over-year growth. Another easy measurement is in IT cost reductions.
Choose the KPIs that are most important to your business and take baseline measurements. Customer satisfaction should increase because sales and customer service processes are integrated.
Take a baseline measurement now and measure customer satisfaction several months after implementation.
Do the same for financial and productivity KPIs. Assign dollar values to each KPI to calculate the financial benefit of NetSuite.
Other things are hard to put a value on. How do you measure the value of making better decisions? This is a key benefit that’s difficult to know the ROI.
NetSuite Startup Pricing and Other Costs
NetSuite is the premier enterprise resource planning suite on the market today. It helps companies small and large integrate systems and processes to be more efficient.
NetSuite startup pricing can set your business back hundreds of thousands of dollars. Don’t let that deter you from signing up. You can calculate the return on investment across departments.
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