Intuit QuickBooks vs. Oracle NetSuite for construction
Midsize business

Intuit QuickBooks vs. Oracle NetSuite for construction

In the construction industry, success depends on staying on schedule and on budget, no matter what surprises come your way. And that requires that you effectively manage a complex ecosystem of:


  • Employees
  • Contractors
  • Subcontractors
  • Material vendors
  • And more.

With labor shortages reported in many areas and the cost of materials rising, it’s never been more important that you have a powerful and all-in-one solution financial solution that gives you the visibility you need to optimize your financial management now, while offering the ability to scale as your business grows.

In this article we compare Intuit QuickBooks solutions (including QuickBooks Enterprise and QuickBooks Online Advanced), which serve growing construction businesses, to an accounting software competitor, Oracle, to evaluate their viability for construction firms.

These comparisons are based on both verifiable vendor claims, third-party reviewers like G2 and Capterra (tech marketplaces where businesses can provide their unbiased opinions and review software solutions), and objective accounting software reviews from PCMag and Techradar.

Intuit QuickBooks Enterprise and QuickBooks Online Advanced: Background

QuickBooks solutions save time and effort by centralizing daily financial processes and functions in a streamlined, easy-to-use interface.

With the cloud access add-on, QuickBooks Enterprise’s cloud-based data and dashboards help construction teams access the same data at the same time, from anywhere.

QuickBooks Enterprise Contractor Edition is an integrated solution designed for growing construction businesses (up to 100 employees) that helps companies streamline business and financial operations management. It bundles key functionality and lets business owners add new tools and capabilities as they grow. QuickBooks Enterprise integrates with best-in-class solutions like Salesforce to create a customized, connected field service and back-office experience.

QuickBooks Online Advanced is a cloud-based solution designed for growing small businesses that also helps users streamline business and financial operations management. It’s offered at a different price point than Enterprise, but it shares many of the same features, including integration with Salesforce and more than 600 powerful apps.*

Oracle NetSuite: Background

Oracle NetSuite is a full-scale enterprise resourcing planning (ERP) solution, engineered to streamline mission-critical processes at businesses of all sizes. NetSuite is software as a service (SaaS) that combines accounting and ERP programs, customer relationship management (CRM) tools, and ecommerce capabilities in a single packaged offering. With NetSuite, users from different departments, such as sales, accounting, and support, access customer information through a single record, eliminating data redundancies and inconsistencies.


NetSuite is fully customizable and provides modules to help construction leaders manage and automate their business needs, from financials to supply chain management to billing and beyond.

Overview

QuickBooks vs. Oracle NetSuite for growing construction businesses

QuickBooks is a portfolio of scalable financial and business management solutions with an intuitive interface. With two core offerings, QuickBooks Online Advanced and QuickBooks Enterprise, and the ability for construction users to customize their software to meet their unique needs, QuickBooks can be configured to fit the needs of growing construction businesses.

Oracle doesn’t offer a solution specifically for construction, but does offer NetSuite, a complete cloud ERP software solution.

Deep Dive into Oracle NetSuite vs. QuickBooks

Scalability

For the purposes of this comparison table, we will define scalability as the ease with which new functionality and product iterations can be added or removed from a user’s bundle, along with the resultant impact on BAU (business as usual).

Time Tracking

QuickBooks Online Advanced offers basic time tracking capabilities. Both QuickBooks Online Advanced and QuickBooks Enterprise Contractor Edition can deliver robust time tracking with the addition of QuickBooks Time. Oracle NetSuite provides the ability to enter and track employee time by construction project.

Business Process Automation

Oracle NetSuite, QuickBooks Enterprise Contractor Edition, and QuickBooks Online Advanced have automation capabilities associated with their core workflows.

Project Costing and Management

Oracle NetSuite and QuickBooks solutions have project costing and management features to help construction companies manage project progress, time, and costs.

Reporting and Analytics

Oracle NetSuite, QuickBooks Enterprise, and QuickBooks Online Advanced provide reporting and analytics dashboards that increase the visibility into a company’s metrics and data to help improve decision making. QuickBooks Enterprise Contractor Edition reporting and analytics are designed to meet the unique needs of construction companies.

Integration

NetSuite, QuickBooks Enterprise, and QuickBooks Online Advanced provide native solutions for integrating leading third-party business applications and enterprise platforms.

QuickBooks solutions offer pre-configured integrations with popular third-party systems and programs and can be used with third-party integrators to further extend the ecosystem.

Support

Oracle NetSuite and QuickBooks Enterprise Contractor Edition provide several support options with basic support included with the subscription and an option to pay for more hands-on assistance.

Pricing

Oracle NetSuite and QuickBooks solutions can be customized to provide value based on need and budget. Both QuickBooks and NetSuite can be paid for month to month, or annually (as of September 2021, the time this article was written).***

Frequently Asked Questions

Does Oracle NetSuite or QuickBooks offer specific solutions for construction?

QuickBooks Enterprise Contractor Edition is specifically designed to help construction firms track costs and improve profitability. Oracle NetSuite, on the other hand, offers features that are appealing to the construction industry but is a more general offering that is used in many industries.

Does NetSuite integrate with QuickBooks?

No. When considering the appropriate technology stack for your construction firm, remember that Oracle NetSuite, QuickBooks Online Advanced, and QuickBooks Enterprise have all been designed as comprehensive accounting and back-office solutions. QuickBooks can integrate with third-party point solutions—for example, QuickBooks Online Advanced and QuickBooks Enterprise both integrate with Salesforce. NetSuite’s SuiteCloud provides a range of industry standards–based approaches to build reliable and scalable integrations that extend NetSuite into any business process.

What if my NetSuite or QuickBooks solution is unable to connect to the internet?

QuickBooks Online Advanced, and QuickBooks Enterprise installations with optional cloud hosting, will not work if they are not connected to the internet. NetSuite has offline, remote capabilities to allow field workers to log time and capture expenses, which can be reconciled later. 

What security features do Oracle NetSuite and QuickBooks include, and how do they compare?

Given factors such as an increasingly mobile workforce and the need to share data with external parties, security should be top of mind for every construction company.

Oracle NetSuite, QuickBooks Online Advanced, and QuickBooks Enterprise are all regularly audited for security compliance certifications.

NetSuite utilizes stringent round-the-clock monitoring tools, controls and policies, and a dedicated tenured security team to ensure that it provides the strongest security for its customers. NetSuite has met a host of audit and security standards, including SOC 1, SOC 2, PCI-DSS, and EU-US Privacy Shield framework. In addition, NetSuite has modeled its security and risk management processes according to the National Institute of Standards and Technology (NIST) and ISO 27000 series of standards.

QuickBooks Online Advanced is a VeriSign Secured™ product. VeriSign is a leading Secure Sockets Layer (SSL) Certificate Authority. It features password-protected login, firewall-protected servers, and the same encryption technology (128-bit SSL) used by the world’s top banks. Intuit is a licensee of the TRUSTe Privacy Program, an independent third-party organization whose mission is to accelerate online trust among consumers and organizations globally through its leading privacy trustmark and innovative trust solutions.

Support for QuickBooks Desktop Enterprise with cloud access is provided by Right Networks*. A valid QuickBooks Desktop Enterprise license code must be provided to Right Networks to receive support. Right Networks performs backups of all cloud access data on a nightly basis and retains the back-ups for a rolling 90-day period in a protected offsite facility as an additional level of protection. There is no limitation to the size of a customer’s back-up. Customers are responsible for verifying the integrity of the hosted data at least every 90 days. Right Networks employs Snapshot technology to backup customer data. Snapshots are taken daily and then replicated to another physical Right Networks facility for Disaster Recovery.

Right Networks uses top-tier data centers and multiple layers of redundancy within its infrastructure to provide 24×7 availability. However, availability can vary, is subject to occasional downtime and may change without notice. Right Networks encrypts all backup files and backup tapes. Virtual desktop connections are protected via TLS with a minimum of 128 bit encryption and authentication. Each customer has a unique Right Networks virtual desktop. Access to each QuickBooks company file is controlled at multiple layers including file access permissions. Access is locked out after multiple failed login attempts for the same user. Security features, functionality and access are subject to change without notice as deemed necessary by Right Networks. Availability can vary and are subject to occasional downtime and may change without notice. Right Networks may offer third party software, separate terms and fees may apply.

Can I migrate my historical data into Intuit QuickBooks or NetSuite products?

Yes. In Oracle NetSuite, the easiest way to import historical sales is a closed purchase order in order to not affect the current financial statement. Other methods of important historical data are available, but many of these require manual intervention and quality assurance.

QuickBooks also allows users to migrate historical data and offers two ways of accomplishing this: chronologically or in batches from existing Excel sheets to save time. 

Conclusion

Construction firms face a unique set of challenges in maintaining effective financial management. While ERPs like NetSuite can help connect departments and bring your data to a single source of truth, most business owners don’t need all the features an ERP offers. 

NetSuite provides extensive functionality that helps you go deeper into your organization’s data, gaining valuable insights that can aid your organization’s decision-making. However, as with other ERPs, this functionality comes with a hefty price tag, a long implementation cycle that could cause business disruption, and a steep learning curve that requires hands-on change management to ensure successful adoption.

QuickBooks Enterprise and QuickBooks Online Advanced are comparable options to Oracle NetSuite for growing businesses looking for something more than just an “accounting system.” Their easy integration paths to powerful third-party partners help expand their ecosystem, providing a faster time to value and a strong foundation for future growth. QuickBooks solutions provide a robust and flexible financial management hub with automated workflows that can help small to medium-sized businesses break out of their “SMB” shell to take the next step.

Get in touch with QuickBooks for more information.

We can help you determine which QuickBooks solution best fits your needs and desire for business growth and can offer migration support to ensure your journey to QuickBooks is smooth.

Set up a QuickBooks demo at your convenience.

*Additional terms, conditions and fees apply.

**Apps are subject to change without notice.

***Products, features, pricing, discounts and offerings are subject to change without notice.

© 2021 Intuit. Trademarks available at https://www.intuit.com/legal/trademark/

This content is for information purposes only and information provided should not be considered legal, accounting or tax advice or a substitute for obtaining such advice specific to your business. Additional information and exceptions may apply. Applicable laws may vary by state or locality. No assurance is given that the information is comprehensive in its coverage or that it is suitable in dealing with a customer’s particular situation. Intuit Inc. does not have any responsibility for updating or revising any information presented herein. Accordingly, the information provided should not be relied upon as a substitute for independent research. Intuit Inc. cannot warrant that the material contained herein will continue to be accurate, nor that it is completely free of errors when published. Readers should verify statements before relying on them.

Additional terms and conditions apply with certain features and functionality. Eligibility criteria may apply. Terms, conditions, pricing, discounts, special features and service and support offerings subject to change without notice.

Third-party links as a convenience and for informational purposes only. Intuit does not endorse or approve these products and services, or the opinions of these corporations or organizations or individuals. Intuit accepts no responsibility for the accuracy, legality, or content on these sites.


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