netsuite / Peoplesoft

PeopleSoft vs NetSuite: A ERP System Comparison

PeopleSoft vs NetSuite:

  • Origin: PeopleSoft by Oracle; NetSuite by Oracle (acquired).
  • Focus: PeopleSoft – HR and finance; NetSuite – ERP, CRM, e-commerce.
  • Deployment: PeopleSoft is primarily on-premises, and NetSuite is cloud-based.
  • Target Market: PeopleSoft – large enterprises; NetSuite – small to medium-sized businesses.
  • Customization: PeopleSoft offers extensive customization; NetSuite is less so but more user-friendly.
  • Integration: Both integrate well with other systems; NetSuite excels in cloud integrations.

Overview of PeopleSoft and NetSuite

PEOPLESOFT VS NETSUITE

PeopleSoft and NetSuite, owned by Oracle, have carved out significant niches in the ERP market.

However, they cater to different business needs and have distinct features that set them apart.

  • PeopleSoft was founded in 1987 and later acquired by Oracle in 2005. It’s known for its robust application suite that caters to various business functions, including human resources, finance, and supply chain management. Large corporations and organizations often use PeopleSoft, particularly in the public sector.
  • NetSuite, founded in 1998, was one of the pioneers in providing business applications over the Internet. It was acquired by Oracle in 2016. NetSuite is a cloud-based solution offering a comprehensive application suite, including ERP, customer relationship management (CRM), professional services automation (PSA), and e-commerce. Mid-sized businesses and large enterprises commonly use it.

Detailed Feature Comparison

When comparing PeopleSoft and NetSuite, it’s essential to look at key business features. These include customization, security, reporting & analytics, inventory management, human resource management, and performance management.

  • Customization: PeopleSoft and NetSuite offer a high degree of customization, allowing businesses to tailor the software to their needs. However, the methods and ease of customization may vary.
  • Security: Security is a paramount concern for businesses, especially when dealing with sensitive data. Both systems have robust security measures, but the specifics of their security protocols and compliance certifications should be examined closely.
  • Reporting & Analytics: Both systems offer powerful reporting and analytics tools. These tools can provide valuable insights into business operations and performance, aiding decision-making processes.
  • Inventory Management: Inventory management is critical for businesses with physical products. Both systems offer comprehensive inventory management features, but their capabilities and ease of use may differ.
  • Human Resource Management: Both PeopleSoft and NetSuite offer human resource management features. These features can help businesses manage their workforce, from recruitment and onboarding to payroll and benefits administration.
  • Performance Management: Performance management tools can help businesses track and improve performance. Both systems offer these tools, but their specific features and capabilities may vary.

Financial Solutions: PeopleSoft vs NetSuite

Financial Solution PeopleSoft vs NetSuite

Regarding financial solutions, both PeopleSoft and NetSuite offer robust features. However, they each have their unique strengths and weaknesses.

PeopleSoft Financial Solutions

  • General Ledger: PeopleSoft’s General Ledger is a comprehensive financial data management system that provides highly automated financial processing, integration with other PeopleSoft applications, and flexible reporting capabilities.
  • Accounts Payable and Receivable: PeopleSoft provides a full suite of features for managing accounts payable and receivable, including payment processing, invoice generation, and financial reconciliation.
  • Asset Management: PeopleSoft’s Asset Management module provides comprehensive asset lifecycle management, from acquisition to disposal.

NetSuite Financial Solutions

  • Financial Planning: NetSuite offers a robust financial planning module that integrates with its core financials and allows for budgeting, forecasting, and planning.
  • Revenue Recognition: NetSuite provides advanced revenue recognition capabilities, allowing businesses to comply with accounting standards.
  • Global Accounting and Consolidation: NetSuite supports multi-currency and multi-subsidiary transactions, making it ideal for global businesses.

User Experience: Reviews and Ratings

User experience is a critical factor when choosing an ERP system. Based on user reviews and ratings, PeopleSoft and NetSuite have their strengths and areas for improvement.

PeopleSoft User Experience

  • Users often praise PeopleSoft for its robust features and comprehensive solutions. However, some users have noted that the system can be complex and require significant training.
  • PeopleSoft’s user interface is often described as less modern than newer ERP systems.

NetSuite User Experience

  • NetSuite users often appreciate the system’s user-friendly interface and flexibility. The cloud-based nature of NetSuite also means that users can access the system from anywhere, which is a significant advantage for remote teams.
  • However, some users have noted that NetSuite can be expensive for small businesses.

Market Share: PeopleSoft vs NetSuite

Market Share  PeopleSoft vs NetSuite

Regarding market share, both PeopleSoft and NetSuite have a significant presence in the ERP market. However, their market shares vary depending on the industry and business size.

  • PeopleSoft has a strong presence in industries such as higher education and government, where its comprehensive features and robust data management capabilities are highly valued.
  • On the other hand, NetSuite has gained significant market share in retail and wholesale distribution industries, where its cloud-based nature and scalability are key advantages.

Comparison table for PeopleSoft and NetSuite:

FeaturePeopleSoftNetSuite
DeploymentOn-Premises/CloudCloud
Industry FocusHigher Education, Government, Large EnterprisesRetail, Wholesale Distribution, Services, Small to Midsize Businesses
Financial ManagementSubscription-based pricing can be expensive for small businessesRobust financial planning, revenue recognition, and global accounting and consolidation
Human Capital ManagementComprehensive financial management features, including General Ledger, Accounts Payable/Receivable, and Asset ManagementCore HR functions, payroll services (through third-party integration), and talent management
Supply Chain ManagementComprehensive supply chain management featuresInventory, order, and warehouse management
Customer Relationship ManagementCRM module availableComprehensive CRM features
User ExperienceRobust but can be complex; user interface less modernUser-friendly interface; cloud-based nature allows access from anywhere
PricingThe high degree of customizabilitySubscription-based pricing; can be expensive for small businesses
CustomizabilityComprehensive suite for HR, including benefits, payroll, time and labor, and talent managementCustomizable but may require additional cost
IntegrationIntegrates with other Oracle products and third-party systemsIntegrates with other Oracle products and third-party systems

FAQs

What is the difference between PeopleSoft and NetSuite?

PeopleSoft and NetSuite are comprehensive ERP solutions that cater to different business needs and markets. PeopleSoft, an Oracle product, is traditionally used by large corporations and organizations, particularly in the public sector. It offers rich human resources, finance, supply chain management, and more features. On the other hand, NetSuite is a cloud-based solution that is more commonly used by mid-sized businesses and large enterprises. It provides functionalities for ERP, CRM, PSA, and e-commerce. The main difference lies in their deployment: PeopleSoft can be deployed on-premises and in the cloud, while NetSuite is purely cloud-based.

Is NetSuite obsolete?

No, NetSuite is not obsolete. It’s one of the leading cloud-based ERP solutions in the market today. It’s continuously updated and improved to meet the evolving needs of businesses. NetSuite’s cloud-native architecture makes it a flexible and scalable solution for businesses of all sizes.

Which is better, Oracle or NetSuite?

The answer to this question depends on your business’s specific needs and circumstances. Oracle offers a range of ERP products, including PeopleSoft, Oracle E-Business Suite, and Oracle Fusion Cloud, each with its strengths. NetSuite, also owned by Oracle, is known for its cloud-native ERP solution. If your business prefers a cloud-based solution with strong CRM and e-commerce features, NetSuite might be the better choice. However, an Oracle product like PeopleSoft might be more suitable if your larger organization needs a customizable solution.

Is PeopleSoft an ERP or CRM?

PeopleSoft is primarily an ERP (Enterprise Resource Planning) system. It provides comprehensive solutions for human capital management, financial management, supplier relationship management, supply chain management, and more. However, PeopleSoft also offers CRM (Customer Relationship Management) capabilities as part of its suite of applications, helping businesses manage their customer interactions and data.

Conclusion: Choosing between PeopleSoft and NetSuite

Choosing between PeopleSoft and NetSuite ultimately depends on your business needs, budget, and long-term goals. Here are a few considerations:

  • PeopleSoft may be better if your organization requires a robust, comprehensive ERP system with strong data management capabilities.
  • NetSuite may be more suitable if you value a user-friendly interface, flexibility, and cloud-based access.
  • Consider the total cost of ownership, including implementation, training, and ongoing maintenance costs.
  • Look at user reviews and ratings to understand each system’s potential strengths and weaknesses from a user perspective.
  • Consider the future roadmap of each product. Oracle continues to invest in PeopleSoft, while NetSuite benefits from ongoing development as a cloud-native product.

Remember, the best ERP system is the one that fits your business needs and can grow with you as your business evolves.

Author

  • Fredrik Filipsson

    Fredrik Filipsson brings two decades of Oracle license management experience, including a nine-year tenure at Oracle and 11 years in Oracle license consulting. His expertise extends across leading IT corporations like IBM, enriching his profile with a broad spectrum of software and cloud projects. Filipsson's proficiency encompasses IBM, SAP, Microsoft, and Salesforce platforms, alongside significant involvement in Microsoft Copilot and AI initiatives, enhancing organizational efficiency.

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