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NetSuite Smashes Barriers to Growth
Wednesday, October 27, 2021
Industry-First Innovations, New Analytics and Automation Capabilities Across Help Customers Optimize their Investments and Accelerate Business Growth
LAS VEGAS, Oct. 19, 2021 /PRNewswire/ -- SUITEWORLD 2021 -- Oracle NetSuite today announced a series of new product innovations to help organizations accelerate growth. The latest NetSuite innovations include a solution that integrates fintech into NetSuite, a new analytics warehouse that helps customers enhance decision making and uncover additional revenue streams, and expanded support services for customers to leverage the full power of NetSuite. In addition, NetSuite has introduced new automation and analytics that will help organizations increase agility and accelerate growth by enhancing the commerce, HR, financial and operations, project management and supply chain capabilities within NetSuite.
"All organizations have gone through significant changes over the last 18 months and while obstacles remain, opportunities are growing," said Evan Goldberg, EVP of Oracle NetSuite. "To help our customers take advantage of these opportunities and accelerate growth, we are introducing new innovations that add powerful analytics and automation capabilities across our entire product suite. The latest updates to NetSuite help to reduce manual processes and ensure customers have timely, accurate data so they can make better decisions, quickly respond to market conditions, and scale their organizations."
NetSuite has introduced new products and expanded services that integrate fintech into a unified suite for the first time, help customers accelerate insights and enhance decision-making, and optimize their investments in NetSuite.
-- SuiteBanking: A solution that helps customers automate key financial
processes and gain full visibility into their cash flow. By bringing
together automated accounts payable and accounts receivable processes,
SuiteBanking makes it fast and easy to pay bills, send invoices and get
paid, all from within NetSuite. To learn more about SuiteBanking, please
visit: NetSuite Announces SuiteBanking, the First Cloud ERP to Integrate
Fintech into a Unified Suite
-- NetSuite Analytics Warehouse: A new analytics warehouse that is built on
Oracle Analytics Cloud and Oracle Autonomous Data Warehouse, NetSuite
Analytics Warehouse helps customers spot patterns and quickly surface
insights from NetSuite and third-party data to enhance decision-making
and uncover new revenue streams. To learn more about NetSuite Analytics
Warehouse, please visit: NetSuite Analytics Warehouse Helps
Organizations Unlock New Opportunities
-- Advanced Customer Support Playbooks: An expansion of NetSuite's Advanced
Customer Support service that includes prescriptive playbooks that help
customers accelerate their return on investment. The playbooks are based
on experience and data from thousands of implementations and will help
customers address operational challenges, such as revenue recognition,
project profitability or supply chain management, and cross-functional
processes like quote to cash. They also support key growth milestones,
such as a geographic expansion, IPO preparation or merger/acquisition
activity. To learn more about the playbooks, please visit: NetSuite
Expands Support Service to Help Customers Accelerate Growth
In addition, new analytics and automation innovations enhance the commerce, HR, financial and operations, project management and supply chain capabilities within NetSuite. With the new capabilities, organizations can improve decision making, streamline business processes, simplify payments, reduce IT complexity, and enhance the customer and employee experience.
-- Analytics: New 360 Dashboards provide a focused work space that
aggregates the rich data and functionality across NetSuite allowing
customers to enhance insight, automation, collaboration and streamline
day-to-day tasks around critical business functions like inventory,
customers, projects, and cash flow.
-- Commerce: New intelligent product recommendations in SuiteCommerce
leverage transactional and behavioral data to drive more sales by
enabling organizations to personalize offers to website visitors and
predict which products are the most likely to be relevant for each
individual shopper. In addition, new NetSuite Connectors provide
seamless integrations with marketplaces such as Amazon and Walmart,
third party logistics providers, and other ecommerce platforms like
Shopify enabling customers to quickly add new channels that are needed
to support growth.
-- HR: New automated 401(k) calculations in SuitePeople, a human resource
management system, utilize configurable rules-based formulas to helps
organizations save time and improve accuracy. In addition, a new
onboarding portal provides a single place to review, update, and
complete all related onboarding tasks in NetSuite to help new employees
onboard faster and be more productive sooner.
-- Finance: New online payment capabilities enable links to secure payments
pages - where customers can view and pay their bill via credit or debit
card, PayPal or other online payment method - to be embedded in email
invoices and SMS messages to help organizations make it easier for
customers to pay. In addition, to help multi-subsidiary businesses
streamline accounting, customers can now consolidate the creation of
purchase requisitions, purchasing and billing across subsidiaries.
-- Platform and Infrastructure: New SuiteAnalytics workbook APIs enable
programmatic access to a wide range of workbook capabilities to help
developers create powerful business intelligence applications for
NetSuite. In addition, new SuiteCloud Code Editor support helps
developers build and manage NetSuite applications and customizations
with Microsoft Visual Studio code editor. NetSuite has also added two
data centers in Australia - Sydney and Melbourne - that leverage Oracle
Cloud Infrastructure to improve the availability, reliability, and
performance of NetSuite for customers in the APAC region.
-- Project Management: New invoice presentation templates help customers
configure project invoices in the preferred format of the client with
the level of detail that will enable timely payment of bills and improve
cash flow. In addition, enhancements to project purchasing allow
purchase orders to be created from the project record and for purchase
orders, vendor billing and payments related to a project to be easily
tracked. This helps organizations increase the accuracy of project
accounting and improve collaboration between purchasing and project
managers.
-- Supply Chain: Inventory allocation enhancements enable planners to
allocate inventory by gross profit or revenue and more accurately
predict availability at a given location - factoring in supply chain
lead times, allocation strategies, sales channel allocations and
reservations - so that organizations can prioritize inventory to sales
orders and allocate stock more profitably. In addition, Smart Count, a
new automated cycle counting solution, automatically triggers cycle
counts based on events, stock levels, sales velocity thresholds, or on a
schedule, and tally scans without impacting operations in the location.
By automating count approvals based on an established threshold,
organizations can reduce time spent counting inventory, avoid stock outs
and increase customer satisfaction.
Get all the latest updates from SuiteWorld by registering for SuiteWorld On Air: netsuitesuiteworld.com/onair. By registering, attendees will have access to keynotes, NetSuite's two-day live broadcast, NetSuite TV, sessions and demos. Learn more about how the fastest-growing businesses are tackling challenges across finance, supply chain, inventory, and more.
About Oracle NetSuite
For more than 20 years, Oracle NetSuite has helped organizations grow, scale and adapt to change. NetSuite provides an integrated system that includes financials / Enterprise Resource Planning (ERP), inventory management, HR, professional services automation and omnichannel commerce, used by more than 27,000 customers in 215 countries and dependent territories.
Learn more at https://www.netsuite.com. Like us on Facebook, and follow us on LinkedIn, Instagram, and Twitter.
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SOURCE Oracle NetSuite
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