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Ahead In The Cloud

The Business Solution Partners Blog

Posted by Business Solution Partners | Jul 5, 2018 4:09:00 PM

Topics: NetSuite

The Secret to Maximizing Your NetSuite Investment

Want to know one of the best ways to get the most out of your investment in NetSuite?

It’s simple. Keep up with what’s new in NetSuite's bi-annual releases.

But this can be easier said than done.

Like clockwork, NetSuite upgrades it's cloud ERP solution twice a year. These updates address bugs and small fixes, but are also release dates for new functionality and major platform enhancements. These changes affect every user.

Some of the most exciting NetSuite updates have been released in the last two years, and we don't want you to fall behind in your knowledge of what's available to you. To help keep you in the know, we’re going to present a quick rundown of some of the most recent NetSuite developments.

 NetSuite 2018.1 Release

The latest NetSuite 2018.1 release was announced in January 2018, and was released for 5% of customers in February 35% of customers in March, and the remaining 60% in April. Here are some highlights of the new NetSuite 2018.1 Release:

  • Multi- Subsidiary Customer: Use Multi – Subsidiary Customer for a single, clear view of customers across multiple subsidiaries eliminating duplication.
  • Supply Chain Snapshot: Gain comprehensive view and granular control of global inventory demand and supply with Supply Chain Snapshot
  • Intelligent Transaction Matching Rules: Reduce operational overhead with intelligent transaction matching rules.
  • Advance Revenue Management: Includes improved performance, flexibility and productivity ensuring compliance with revenue recognition regulations

Gold Nuggets - Highlights from NetSuite 2018.1

  • Bulk Journal Printing - NetSuite Streamlines a Tedious Process 
  • Fixed Asset Module Improved to Allow for Custom Segments
  • FX Posting Rule Enhancements Help Solve for Statutory Requirements
  • Vendor Bill Cancellation Process Enhancements

Introducing SuitePeople

SuitePeople is a new human capital management (HCM) module that is natively built on the NetSuite cloud suite and adds HCM processes to a single ERP platform. It became available in June 2017. Instead of managing central HR processes in separate modules, SuitePeople provides a unified, flexible core HCM offering.

SuitePeople improves processes around managing employee information, new hires, employee onboarding, promotions and compensation changes, all which can be managed from a single suite. It also makes it easy for employees to request time off, access employee directories, and monitor upcoming vacation schedules and new hires.

SuiteSuccess: Zero-To-Cloud in 100 Days (or Less!)

NetSuite SuiteSuccess combines the NetSuite unified suite, 20 years of industry leading practices, a new customer engagement model, and business optimization methods into a unified, industry cloud solution. SuiteSuccess features integrated micro-vertical solutions that address specific market needs available for a growing list of industries, including financial technology, wholesale distribution, and software/internet. The goal with SuiteSuccess is to provide leading practices for each industry, including reports, dashboards, and KPIs to “go from zero to cloud in 100 days.”

Each one of these recent modules, programs, or features is designed to make your NetSuite experience better. Want to learn more about any of these new developments to maximize your NetSuite investment? Contact a Business Solution Partners NetSuite expert today. 

Written by Business Solution Partners

The team at Business Solution Partners collaborates on the production of "A Head In The Cloud - The Business Solution Partners Blog." We cover a wide variety of topics focused around Enterprise Resource Planning & Financial Automation.

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