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IQMS Enterprise IQ vs NetSuite ERP comparison

 

Comparison Buyer's Guide

Executive Summary
 

Categories and Ranking

IQMS Enterprise IQ
Average Rating
8.0
Number of Reviews
1
Ranking in other categories
ERP (29th)
NetSuite ERP
Average Rating
7.8
Reviews Sentiment
7.4
Number of Reviews
35
Ranking in other categories
Activity Based Costing Software (5th), Billing Software (1st), Cloud ERP (1st)
 

Mindshare comparison

While both are Enterprise Resource Planning solutions, they serve different purposes. IQMS Enterprise IQ is designed for ERP and holds a mindshare of 0.5%, up 0.4% compared to last year.
NetSuite ERP, on the other hand, focuses on Cloud ERP, holds 34.9% mindshare, up 30.5% since last year.
ERP
Cloud ERP
 

Featured Reviews

VR
Allows customization for production and has good sales, distribution, and quality management features
Previously, we were using a very small ERP called Visual Udyog. Visual Udyog is a very cheap solution. For a startup company, it's useful. It's not an elaborate ERP, but it gives at least 25% of what IQMS gives. It can give 25% or even close to 50% of what IQMS can give and at 10% of the cost. Initially, for the first five years of the company, where it has only one million turnover or two million turnover, it is enough. Once you want to scale up, you have to go to SAP or IQMS. I also worked with SAP. I would say that IQMS and SAP go hand-in-hand.
Venkat Sudni - PeerSpot reviewer
It's a user-friendly cloud-based solution that startups and small businesses can afford
Setting up NetSuite ERP is pretty straightforward. It's a plug-and-play solution that comes with the default bundle. We uploaded our GLs and charter accounts and added our company code to the architecture. It can be up and running in under a month. It takes at least five people to deploy NetSuite.

Quotes from Members

We asked business professionals to review the solutions they use. Here are some excerpts of what they said:
 

Pros

"This solution has all of the features you need: sales, distribution, supply chain. It has logistics and production management capabilities. It has so many modules, which were integrated using our expertise."
"The inventory feature in NetSuite ERP is very valuable to me because it provides clear estimates about the depreciation of details and includes useful mobile modules."
"We leverage the core platform but are able to add additional functionality for ease of use, tailored processes, and industry related reporting."
"I have found there to be many features, such as manufacturing, accounting, financials, inventory, and purchasing."
"As NetSuite ERP is a cloud product, a valuable feature I found in it is the very friendly user interface. You can set up shortcuts within the applications for frequently used reports or navigation. You can also customize dashboards in NetSuite ERP. Another feature I found valuable in the solution is good reporting. It has many industry-standard reports focused on finance and inventory. I also like the seamless switching between production and test environments and that you can customize the environments within NetSuite ERP. For example, you can put banners on your test and production environments to differentiate or segregate the logins to prevent mistakes. The solution is pretty easy to use and navigate, and it's more of a lightweight software. I like that it's a cloud product, so work is done on the front end rather than the back end. There's also a community for NetSuite ERP where you can raise your queries and issues. You'll find other people sharing experiences about common issues so you can get quick fixes from the community."
"The features that have been most effective in improving the financial management perspective include the budgeting, revenue recognition, and accounting perspectives."
"The project management aspect and the timesheets are valuable, especially for ensuring that our milestone billings are automated properly. From a manufacturing perspective, it is more to do with the entire management of the inventory, the overall finance, consolidation of books of accounts, and managing the profit and loss in a more effective manner."
"The user interface is very good."
"The most valuable aspect of NetSuite ERP is the multi-subsidiary portion, it is the strongest across all the other ERPs. If you want to do consolidations, it works a lot better than other tools."
 

Cons

"Setup is very complex."
"The main implementation challenge is finding experienced consultants to translate customer needs into NetSuite ERP's standard functionality. The second challenge is getting enough time from customers for proper implementation."
"The manufacturing and planning side could be improved. That part isn't up to date. NetSuite could be easier to integrate in general."
"The product should improve its warehouse management solution."
"The custom reports could be improved."
"The solution is not user-friendly and it is complex to use."
"The pricing is high."
"Improvement-wise, it should be more customizable. Currently, you can't enhance the product yourself in terms of development for any applications unless you've got a very strong and big development team. Those are the skills that are in very short supply."
"If you do go through an implementor, you need to be careful that they are actual implementors and not just resellers."
 

Pricing and Cost Advice

"We paid about 20% with the purchase order. Six months later, we paid another 20%, and then another 20% after another six months. We paid the remaining 40% after 18 months."
"When people buy ERP, it's a competitive situation and the pricing is paramount."
"Pricing for NetSuite ERP is okay, but it could be better. The licensing model for NetSuite ERP is based on the number of modules and users. The standard license covers up to twenty-five users. If you have more than twenty-five users, you'll have to buy the premium license, which would double the price. For one module with five user licenses, the cost is between $40,000 to $50,000."
"It is completely on a subscription basis. We pay yearly and, and you do not have to do anything on a monthly basis. Prices depend on the organization's scale and all those things, but they are doing a good job with the pricing."
"The price of the solution is quite high."
"I would advise that you first meet with and scope out your project with a NetSuite VAR (Value Added Reseller)."
"It's very competitively priced due to it being a subscription model. So, clients are quite happy with the pricing. I would rate it an eight out of ten in terms of pricing."
"It is expensive."
"Regarding costs, it's not just about licensing. Customization recurring costs can become expensive over five to eight years, especially with new releases. However, NetSuite ERP integrates well with third-party applications, so it can still be used for finance while another ERP is used for localized production."
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Top Industries

By visitors reading reviews
Manufacturing Company
18%
Computer Software Company
12%
Healthcare Company
10%
Energy/Utilities Company
9%
Educational Organization
45%
Computer Software Company
9%
Manufacturing Company
6%
Financial Services Firm
4%
 

Company Size

By reviewers
Large Enterprise
Midsize Enterprise
Small Business
No data available
 

Questions from the Community

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What do you like most about NetSuite ERP?
The inventory feature in NetSuite ERP is very valuable to me because it provides clear estimates about the depreciation of details and includes useful mobile modules.
What is your experience regarding pricing and costs for NetSuite ERP?
If you buy it through Europe or North America, it is quite expensive. However, if you can buy it from developing markets according to NetSuite, you can get significant discounts, up to 70%.
What needs improvement with NetSuite ERP?
Reports are good but not perfect. The custom reports could be improved. The initial setup process for reports can be a bit complicated and may require more user-friendly options. My previous compan...
 

Also Known As

Enterprise IQ
No data available
 

Learn More

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Overview

 

Sample Customers

Poly-Cast, Custom Profile, Nicolet Plastics, Double H Plastics Inc., Network Plymers, Load Trail, Mar-Bal Inc., Donnelly, Steinwall Scientific, Nissen Chemitec America, Miniature Precision Components
2Pure, Accuvant, Actian, Adtegrity, Advantage Sign Supply, All-Safe Pool Safety Products, Alton Lane, AMC Liquidators
Find out what your peers are saying about SAP, Microsoft, Oracle and others in ERP. Updated: November 2024.
824,067 professionals have used our research since 2012.