Last week Oracle NetSuite announced a series of new product innovations to help organizations accelerate growth. The latest NetSuite innovations include a solution that integrates fintech into NetSuite, a new analytics warehouse that helps customers enhance decision making and uncover additional revenue streams, and expanded support services for customers to leverage the full power of NetSuite. In addition, NetSuite has introduced new automation and analytics that will help organizations increase agility and accelerate growth by enhancing the commerce, HR, financial and operations, project management and supply chain capabilities within NetSuite. “All organizations have gone through significant changes over the last 18 months and while obstacles remain, opportunities are growing,” said Evan Goldberg, EVP of Oracle NetSuite. “To help our customers take advantage of these opportunities and accelerate growth, we are introducing new innovations that add powerful analytics and automation capabilities across our entire product suite. The latest updates to NetSuite help to reduce manual processes and ensure customers have timely, accurate data so they can make better decisions, quickly respond to market conditions, and scale their organizations.” NetSuite has introduced new products and expanded services that integrate fintech into a unified suite for the first time, help customers accelerate insights and enhance decision-making, and optimize their investments in NetSuite.
- SuiteBanking: A solution that helps customers automate key financial processes and gain full visibility into their cash flow. By bringing together automated accounts payable and accounts receivable processes, SuiteBanking makes it fast and easy to pay bills, send invoices and get paid, all from within NetSuite. To learn more about SuiteBanking, please visit: NetSuite Announces SuiteBanking, the First Cloud ERP to Integrate Fintech into a Unified Suite
- NetSuite Analytics Warehouse: A new analytics warehouse that is built on Oracle Analytics Cloud and Oracle Autonomous Data Warehouse, NetSuite Analytics Warehouse helps customers spot patterns and quickly surface insights from NetSuite and third-party data to enhance decision-making and uncover new revenue streams. To learn more about NetSuite Analytics Warehouse, please visit: NetSuite Analytics Warehouse Helps Organizations Unlock New Opportunities
- Advanced Customer Support Playbooks: An expansion of NetSuite’s Advanced Customer Support service that includes prescriptive playbooks that help customers accelerate their return on investment. The playbooks are based on experience and data from thousands of implementations and will help customers address operational challenges, such as revenue recognition, project profitability or supply chain management, and cross-functional processes like quote to cash. They also support key growth milestones, such as a geographic expansion, IPO preparation or merger/acquisition activity.
In addition, new analytics and automation innovations enhance the commerce, HR, financial and operations, project management and supply chain capabilities within NetSuite. With the new capabilities, organizations can improve decision making, streamline business processes, simplify payments, reduce IT complexity, and enhance the customer and employee experience.
- Analytics: New 360 Dashboards provide a focused work space that aggregates the rich data and functionality across NetSuite allowing customers to enhance insight, automation, collaboration and streamline day-to-day tasks around critical business functions like inventory, customers, projects, and cash flow.
- Commerce: New intelligent product recommendations in SuiteCommerce leverage transactional and behavioral data to drive more sales by enabling organizations to personalize offers to website visitors and predict which products are the most likely to be relevant for each individual shopper. In addition, new NetSuite Connectors provide seamless integrations with marketplaces such as Amazon and Walmart, third party logistics providers, and other ecommerce platforms like Shopify enabling customers to quickly add new channels that are needed to support growth.
- Finance: New online payment capabilities enable links to secure payments pages – where customers can view and pay their bill via credit or debit card, PayPal or other online payment method – to be embedded in email invoices and SMS messages to help organizations make it easier for customers to pay. In addition, to help multi-subsidiary businesses streamline accounting, customers can now consolidate the creation of purchase requisitions, purchasing and billing across subsidiaries.
- Platform and Infrastructure: New SuiteAnalytics workbook APIs enable programmatic access to a wide range of workbook capabilities to help developers create powerful business intelligence applications for NetSuite. In addition, new SuiteCloud Code Editor support helps developers build and manage NetSuite applications and customizations with Microsoft Visual Studio code editor. NetSuite has also added two data centers in Australia – Sydney and Melbourne – that leverage Oracle Cloud Infrastructure to improve the availability, reliability, and performance of NetSuite for customers in the APAC region.
- Project Management: New invoice presentation templates help customers configure project invoices in the preferred format of the client with the level of detail that will enable timely payment of bills and improve cash flow. In addition, enhancements to project purchasing allow purchase orders to be created from the project record and for purchase orders, vendor billing and payments related to a project to be easily tracked. This helps organizations increase the accuracy of project accounting and improve collaboration between purchasing and project managers.
- Supply Chain: Inventory allocation enhancements enable planners to allocate 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 prioritize inventory to sales orders and allocate stock more profitably. In addition, Smart Count, a new automated cycle counting solution, automatically triggers cycle counts based on events, stock levels, sales velocity thresholds, or on a schedule, and tally scans without impacting operations in the location. By automating count approvals based on an established threshold, organizations can reduce time spent counting inventory, avoid stock outs and increase customer satisfaction.