8th April 2019 •

Exciting NetSuite news from SuiteWorld 2019

Las Vegas, NV, April 1 – 4, 2019, SuiteWorld 2019 saw a gathering of 7,500 attendees – a mixture of Oracle NetSuite users, prospective customers, partners, developers, press and industry influencers – receiving an update on NetSuite’s progress and a glimpse into its plans for the future.

Since Oracle’s purchase of NetSuite in 2016 for $9.3 billion, their level of commitment to the product has given everyone in the NetSuite industry much encouragement. Sustained investment has grown headcount and we are now starting to see the results, with new and exciting product developments that are cementing NetSuite’s reputation as the world’s leading cloud ERP.

 

Grow Beyond: Expanding Beyond Financials and ERP

 

The theme for SuiteWorld 2019 was ‘Grow Beyond’ – using entrepreneurial spirit to meet challenges or ‘break glass’ as founder Evan Goldberg likes to put it – reflecting NetSuite’s desire to ‘unlock the power of the suite’. Growth is a key selling point for NetSuite; studies have shown that on average, NetSuite customers grow three times faster than other S&P 500 companies.

 

 

 

Evan defined their blueprint for growth as based on five key needs required to enable businesses to grow:

 

1. Visibility

2. Control

3. Agility

4. Productivity

5. Collaboration

 

As companies grow, keeping an eye on these aspects of the business becomes more and more difficult, but with NetSuite this blueprint is easier to follow, thanks to better business visibility and greater efficiency.

 

So, let’s take a look at a few of the key announcements from SuiteWorld 2019 that we think will excite our customers:

 

NetSuite Assistant for Time Entry

 

To prevent projects spiralling out of control it is essential that project managers have real-time visibility of ongoing costs. Therefore, having reliable, up-to-date data is critical. NetSuite has developed a really clever tool that makes entering Timesheet data much easier for consultants. The NetSuite Assistant for Time Entry is a little like a chatbot for your phone, which reminds you to enter time and even uses your location to suggest the project upon which you are working. By replying to simple questions around the task, a brief description and time taken, you can enter your timesheet from your phone, without even needing to log into NetSuite.

 

See the video here: Product General Session

 

SuiteAnalytics Workbook

 

SuiteAnalytics Workbook was a beta feature in version 2018.2 but is now available to all customers in NetSuite version 2019.1. SuiteAnalytics Workbook is essentially an analytical tool allowing users to quickly and easily create rich reports using pivot tables, charts and queries – without the need for help from their IT department!

The updated SuiteAnalytics Workbook is now more user-friendly than the other reporting tools in NetSuite, with drag and drop functionality facilitating more complex reporting than was previously possible. Workbooks can also be published to user’s dashboards as charts.

 

With the latest update, two pre-configured Workbooks are also included, which can be used straight away or used to provide ideas on how to create your own Workbooks.

In terms of technical capabilities, Workbooks will:

 

  • Support multi-level joins
  • Support data pivoting
  • Support chart / graph data visualisation
  • Provide a unified data source with unified naming conventions

 

Workflow Approval Process

 

Significant investment has been made to the workflow approval process. As businesses are now under pressure to operate much more quickly and tend to become more complex and more geographically diverse at a faster rate, it is more vital than ever that business systems can recognise this and accommodate their needs.

 

NetSuite has always handled this well, but the configuration of workflows has required a certain level of technical expertise. Now, it’s much simpler and easier, opening this up to users who are not technically skilled or developers.

 

The new Approval Designer provides a clever drag and drop method of creating a new approval process. You are presented with a list of fields on the left such as ‘People Rules’, which you drag across to create the new rules and configure the workflow with a visual editor. For example, you might want all bills above a threshold of £10,000 to require approval by both the CFO and CEO and an email to be sent to alert them. Once you are happy with your new approval workflow you can click the on/off toggle button to make it active within NetSuite.

 

See the video here:  Product General Session

 

Cash Management & Banking

There is a lot of interest over NetSuite’s work on cash management & banking. NetSuite has announced support for two-stage payments and automated bank-to-bank reconciliation, and has created APIs that enable connectivity with a wide range of banks to enable open banking. Oracle NetSuite clearly has a vision and is leading the way with its Banking as a Service (BaaS) programme.

 

See more here:  Product General Session

 

Page Builder

NetSuite aims to create better and more tailored experiences for users, and as such has made it much faster and easier to create a custom user interface (UI) using Page Builder. Without the need for technical know-how, admin users can now create highly tailored pages with less effort by utilising a visual drag and drop Page Builder.

 

See more here:  Product General Session

 

Customisation Deployment Screen

NetSuite has developed a new Customisation Deployment screen for deploying customisations to different environments quickly and easily, making it a cinch for admins to tailor NetSuite functionality for you.

 

Key features of the Customisation Deployment Screen:

 

  • Wizard based
  • Pre-deployment snapshots
  • Before/after
  • Changes made to environment
  • Scheduled deployments

 

User Experience

 A lot of work has been put into improving the user experience to make NetSuite more intuitive, faster and easier to operate. Improvements include:

 

  • The ability to lock the header of tables so when scrolling down you don’t forget the type of data you’re viewing! Key columns can also be frozen for when scrolling across.
  • New density settings allowing you to instantly change the amount of data you see on screen.
  • Instant notifications to let you know when you’ve made an error. For example, entering an incorrect date (rather than waiting until you try and save the record).
  • Background processing of transactions to speed up the system. Rather than wait for a transaction to save, you’re immediately taken to the next screen and notified when it’s done.

 

See more here: Product General Session

 

If you have any questions about NetSuite’s upcoming functionality, or if you would like to know more about any aspect of NetSuite, please get in touch:

📧 [email protected]

☎️ +44 (0) 203 733 2110

 

 


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