It’s that time of the year folks! NetSuite is rolling out their second release of the year and it’s full of powerful new features, functions, and enhancements to bring extraordinary business impact.
Are you interested to know what’s new? Here at Protelo, we’ve put together some of our favorite and noteworthy highlights to prepare you for the release this fall.
DISCOVER THE FULL CAPABILITIES OF NETSUITE’S NEW RELEASE:
SUITEANALYTICS WORKBOOKS – Rapidly obtain targeted and effective industry analytics based on your exact business requirements by accentuating possible issues and opportunities.
MULTI-SUBSIDIARY ENTITY FUNCTIONALITY – Streamline the organization and oversight of intercompany contacts.
HUMAN CAPITAL MANAGEMENT – Gain better visibility of your team. Easily view important individual career-related milestones with an employee timeline and flexibly adapt to oversee change with audit trails for how accruals are attained.
MOBILE ENHANCEMENTS – Connect from anywhere, anytime, with NetSuite mobile’s cleaner, streamlined design, dashboard call log, and ability to create expense reports and log time offline.
GLOBAL FINANCIALS – NetSuite 2019.2 is offering a rapidly growing global market of NetSuite customers enhanced multi-subsidiary management, improved bank reconciliation features, and advanced global support with depreciation procedures and general ledger.
FEATURE HIGHLIGHTS:
SuiteCloud Platform:
The sky’s the limit with the SuiteCloud Platform! NetSuite provides the unlimited opportunity for developers to innovate and extend the NetSuite system with a powerful set of customization and integration tools. SuiteCloud allows customers to personalize, build, and install applications in less time and cost than any other ERP.
Release 2019.2 raises the stakes, with advanced options for users to tailor and enhance NetSuite even more.
- Translate international applications utilizing localization workflows with NetSuite’s new product localization and internationalization features.
- Sign-on once and seamlessly change roles with OpenID Connect SSO authentication and simplify access with NetSuite’s 3-stage token-based authentication.
- REST web services and SOAP services enhance options for integrating NetSuite to other systems.
- The latest Improvements to SuiteScript and JavaScript ES6 enable language support.
- Manage scripts and object types with updated WebStorm IDE.
- New additions to the SuiteCloud Development Framework provide object support for custom forms, fields and a comprehensive deployment of SuiteAnalytics to accounts inside NetSuite.
Nonprofit Organizations:
Expand your impact with the latest release functionalities that provide Nonprofits the transparency and compliance they need to manage financials and fundraising.
- NetSuite’s new Project Budgeting and Scheduling allows budgets to be created with ease and automated calculations to be produced with enhanced project budgeting precision.
- Import bank data from any financial establishment, in any file format, straight into NetSuite.
- Vendors now have the ability to be paid ahead of an approved PO with independent vendor prepayments that may be applied to associated open invoices with Vendor Prepayment.
- Directly manage internal connections with vendors and partners with Multi-Sub Customer / Vendor capabilities. Single vendors and clients allocated across several subsidiaries now have the ability to be assigned and replaced with multi-subsidiaries.
Wholesale Distributors:
Distributors need complete visibility into daily operations and a united core business system to meet the demands of 21st-century consumers. NetSuite 2019.2 provides advancements that power enhanced business oversight, performance and monitoring.
- Optimize performance with NetSuite’s New Supply Chain Control Tower. Gain a complete view of the supply chain with preconfigured supply chain KPI’s, alerts determining urgent issues, predicted purchase order risks, and a commitment and allocation engine to correspond with inventory, customer types and order deadlines.
- NetSuite WMS mobile solution: Propel warehouse operations with updated picking, order release features, faster processing, and personalized WMS screens available without any knowledge of coding.
- Updated Advanced manufacturing enables unit conversions (UoM), inventory status, and serialized components that allow data to be built immediately from the shop floor.
Advertising, Media and publishing:
Improve creativity, increase profits and administer projects with ease and the insight for business growth.
- Significant upgrades have been made to Advanced Project Budgets that permit versioning and planning.
- Easily automate complex customer billing requirements with the new Billing Rate Card.
- 2019.2 presents the new Project Workback Schedule that automates and calculates start dates, end dates and the hours a project would need to complete a task.
Improve Financial Workflows
- Import bank data from any financial establishment, in any file format, straight into NetSuite.
- Vendors now have the ability to be paid ahead of an approved PO with independent vendor prepayments that may be applied to associated open invoices with Vendor Prepayment.
- Directly manage internal connections with vendors and partners with Multi-Sub Customer / Vendor capabilities. Single vendors and clients allocated across several subsidiaries now have the ability to be assigned and replaced with multi-subsidiaries.
- Advanced Revenue Management offers a rules-based recognition according to company-defined standards.
Manufacturers:
As manufacturers strive to survive with customer expectations and a perpetual change in technology, firms require a platform that offers advanced functionality to support growth. NetSuite’s 2019.2 provides new features to streamline operations for performance and quality with enhanced insights to analytics.
- Support all languages on an international level with the new Supply Chain module.
- Updated Advanced manufacturing enables unit conversions, inventory status, and serialized components that allow data to be built immediately from the shop floor.
- Identify your inspection activities with NetSuite’s Quality Queue Customization.
- Supply Allocation allows customers to optimize inventory assets, services and profits.
- SuiteAnalytics: NetSuite’s new analytics deliver measurable insights, allowing manufacturers to know exactly what their customers are looking for with the Manufacturing Production and Purchases workbook.
Retailers:
Retailers must have complete visibility of their business supply chain to deliver products on time, keep customers satisfied, and maintain an online store that is modern, functional, and up to consumer standards. The new release provides improvements to enhance merchant insight and provide a first-class shopping experience.
- Optimize performance with NetSuite’s New Supply Chain Control Tower and gain a complete view of the supply chain with pre-configured supply chain KPI’s, alerts determining urgent issues, predicted purchase order risks, and a Commitment and Allocation Engine to correspond with inventory, customer types and order deadlines.
- Give your SuiteCommerce customers the extensions they need with new SuiteCommerce framework. The latest updates include displaying the order status and lead time for out-of-stock items, product comparisons, an email notification registration form for out-of-stock items, infinite scrolling, and page updates for a better shopping experience.
Service Companies
It is imperative that services organizations properly manage their staff with accuracy, visibility and have the tools to successfully distribute and submit their time. NetSuite 19.2 offers new management tools that services companies need to efficiently run their day to day business.
- Advanced Project Budgets have been updated to reveal costs, revenue, and optimize visibility with Work Breakdown Structure and Project Task activity codes.
- Automatically configure and schedule project deadlines with start and end dates and the required hours with the Project Workback Schedule.
- Improve utilization, resources, and gain better control over projects with the new Project Resource Utilization Target and updates to the Resource Allocation Chart Grid.
- Billing Rate Card improvements simplify the complexities of billing requirements with drop down menus, default customer project billing, a ranking of billing rates based on parent the project, and the ability to set an automatic billing rate based on the customer.
These are only a few of the hundreds included in Release 2019.2 to greatly improve the functionality and user experience of NetSuite. Obviously, there is a lot to learn! Make sure to take advantage of your preview account and prepare for the months to come.
Questions to ask yourself before the 2019.2 update!
- What is the best way to prepare before the October release date?
- Are existing workflows, processes, customizations, and integrations working properly in a release preview account before being pushed to production?
- Need assistance testing and validating your existing processes?
How to access your NetSuite 2019.2 Preview Account
In order to access a 2019.2 Release Preview account make sure to opt in as soon as you can. Go to Setup > Company > Release Preview > and Request Release Preview.
When your preview account is ready to use, your administrator will be notified through email. The release preview is usually a month before the production upgrade so make sure to maximize testing within your preview window.
The Protelo team is here to help your business make the shift to the new release as smooth as possible. Have a NetSuite question? Let’s talk!
PROTELO’S EXPERT CONSULTANTS HAVE THE SUITE ANSWER!
Our award-winning NetSuite consultants can assist your team in the implementation, configuration, customization and services of NetSuite solutions to work for your unique business processes. We provide support, administration and process optimization to ensure organizations get a return on their investment.
Whether you are looking for a one-stop-shop for all things NetSuite, or simply need answers to your questions, our NetSuite experts are here to make your business better.
