Customers can optimize their investments and accelerate business growth with industry-first innovations, new analytics, and automation capabilities across the board.
Oracle NetSuite today unveiled a slew of new product enhancements aimed at helping businesses scale faster. A solution that integrates fintech into NetSuite, a new analytics warehouse that helps clients improve decision making and identify alternative revenue sources, and extended support services for users to exploit the full capability of NetSuite are among the latest NetSuite advancements. In addition, NetSuite has enhanced its commerce, HR, financial and operations, project management, and supply chain capabilities, which will help enterprises increase agility and accelerate growth.
“Over the last 18 months, all businesses have undergone major transformations, and while challenges continue, possibilities are expanding,” said Evan Goldberg, EVP of Oracle NetSuite. “To assist our customers in taking advantage of these opportunities and driving growth, we’re offering new technologies that add powerful analytics and automation capabilities across our whole product lines.” NetSuite’s most recent improvements help users decrease manual processes and assure timely, reliable data to make smarter decisions, adapt fast to market situations, and scale their businesses.”
NetSuite has released new products and expanded services that, for the first time, incorporate fintech into a cohesive suite, allowing clients to gain faster insights, make better decisions, and get the most out of their NetSuite investments.
- SuiteBanking: Suitebanking is a service that assists users in automating critical financial activities and gaining complete visibility into their cash flow. SuiteBanking makes it quick and easy to pay bills, send invoices, and be paid from within NetSuite by combining automated accounts payable and accounts receivable procedures. According to NetSuite, visit the following website to learn more about SuiteBanking: SuiteBanking is the first cloud ERP to integrate fintech into a unified suite.
- The warehouse of NetSuite Analytics is a new analytics warehouse that uses Oracle Analytics Cloud and Oracle Autonomous Data Warehouse to help clients discover patterns and quickly surface insights from NetSuite and third-party insights data to improve decision-making and uncover new revenue streams.
- Advanced Customer Support Playbooks: A new feature of NetSuite’s Advanced Customer Support service that contains prescriptive playbooks to assist customers in getting a faster return on their investment. The playbooks are based on thousands of deployments of experience and data. They will assist clients in addressing operational difficulties like revenue recognition, project profitability, supply chain management, and cross-functional procedures such as quotation to cash. They also help with important growth milestones, including global expansion, IPO preparation, and merger and acquisition activity. NetSuite expands its customer support services to assist customers in accelerating their growth.
In addition, NetSuite’s commerce, HR, financial and operations, project management, and supply chain capabilities have been enhanced by new analytics and automation advancements. Organizations can improve decision-making, expedite business operations, simplify payments, minimize IT complexity, and improve the customer and employee experience with the new capabilities.
- Analytics: New 360 Dashboards provide a focused work environment that collects the rich data and functionality across NetSuite, allowing users to improve insight, automation, collaboration, and streamline day-to-day chores around core company functions such as inventories, customers, projects, and cash flow.
- Commerce: SuiteCommerce’s new intelligent product suggestions use transactional and behavioural data to help businesses personalize offers to website visitors and anticipate which products are most likely relevant for each shopper, resulting in increased sales. New NetSuite Connectors also offer seamless interfaces with marketplaces like Amazon and Walmart, third-party logistics providers, and other eCommerce platforms like Shopify, allowing clients to add new channels to support growth swiftly.
- Human Resource: In SuitePeople, a human resource management system, new automatic 401(k) calculations use adjustable rules-based formulae to help employers save time and increase accuracy. In addition, a new onboarding site in NetSuite allows new workers to evaluate, update, and complete all necessary onboarding duties in one spot, allowing them to become more productive sooner.
- Finance: New online payment features enable enterprises to include links to secure payments pages – where consumers may view and pay their bill through credit or debit card, PayPal, or another online payment option – in email bills and SMS messages to let customers pay more easily. Customers may now unify the production of buy requisitions, purchasing, and invoicing across subsidiaries to enable multi-subsidiary firms to streamline accounting.
- Platform and Infrastructure: New SuiteAnalytics workbook APIs give developers programmatic access to a wide range of workbook features, allowing them to build sophisticated NetSuite business intelligence apps. In addition, the new SuiteCloud Code Editor compatibility with Microsoft Visual Studio helps developers build and maintain NetSuite apps and modifications. NetSuite has also built two new data centres in Australia, in Sydney and Melbourne, using Oracle Cloud Infrastructure to increase NetSuite’s availability, reliability, and performance for APAC customers.
- Project Management: New invoice presentation templates enable clients to customize project invoices in the client’s chosen format, with the degree of detail required to ensure timely bill payment and improved cash flow. Furthermore, improvements to project purchasing allow purchase orders to be created directly from the project record and the tracking of purchase orders, vendor billing, and payments associated with a project. This aids firms in improving project accounting accuracy as well as coordination between purchasing and project managers.
- Supply Chain: Inventory allocation enhancements allow planners to prioritize inventory to sales orders and allocate stock more profitably by allocating 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 better prioritize inventory to sales orders and allocate stock. Furthermore, Smart Count, a new automated cycle counting system, automatically starts cycle counts and tally scans depending on events, stock levels, sales velocity thresholds, or schedule, all without disrupting location operations. Organizations can save time counting inventory, avoid stock-outs, and improve customer satisfaction by automating count approvals based on a set threshold.
WHY ORACLE’S NETSUITE
Oracle NetSuite has been assisting businesses in growing, scaling, and adapting to change for more than 20 years. More than 27,000 clients in 215 countries and dependent territories utilize NetSuite’s comprehensive solution, which incorporates financials / Enterprise Resource Planning (ERP), inventory management, HR, professional services automation, and omnichannel commerce.