New NetSuite Features Announced

SuiteWorld ran between 27th – 30th September at the Caesars Forum in Las Vegas and it was a busy couple of days. With this year’s slogan being “Full Suite Ahead” it makes sense to focus on the announcements made that will help their customers and their businesses flourish.

NetSuite is an all-in-one business management platform that helps companies reduce costs, increase efficiency and improve profitability.NetSuite's latest features integrate to streamline workflows, simplify rebate and trade promotion program execution and enhance inventory management.

The newest NetSuite capabilities combine to create a powerful, unified solution that allows companies to consolidate data in one place and automate repetitive tasks to again drive efficiency and increase profitability.

Inventory Management

Using NetSuite Warehouse Management System (WMS) andNetSuite Smart Count, consumers handle inventory in empty bins in the warehouse. Once the bin is marked as empty, an inventory count is automatically triggered. And once the inventory is updated, the bin is made available again.

Intercompany Netting

New intercompany netting resources automatically book transactions across subsidiaries to streamline the period close process.

Data Residency

In the past year, NetSuite has opened 11 new data centres in five new cities, including Amsterdam, Newport, Osaka, San Jose and Tokyo. The new OCI-based data centres help customers meet residency requirements and reduce latency by bringing NetSuite and data closer to customers.

Mobile Manufacturing

The enhanced mobile application for NetSuite Manufacturing streamlines work order flows and validations, improves usability, and reduces data-entry mistakes.

Planning and Budgeting

New task management capabilities in NetSuite Planning andBudgeting help customers perform more efficiently and accurately by increasing visibility, automating tasks, and automatically recording activities related to those tasks. The enhanced version builder for scenario planning makes it faster to capture a range of budget or forecast scenarios to quickly deal with change.

Quality Management

New quality management functionality delivers more flexibility by allowing unplanned, ad hoc inspections that enable companies to drive higher quality across their product lines.

Rebates and Trade Promotions

New rebate and trade promotion management capabilities help save time and increase efficiency by automating the creation, execution, accrual, and reconciliation of vendor and customer rebate programs.

After a fascinating couple of days at SuiteWorld, NetSuite have definitely created a buzz around their new features. These will make a difference to their customers business processes and day to day activities. The roll outs are going country by country, however, will be available shortly to all customers.

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