NetSuite Helps Organizations Capitalize on New Growth Opportunities

To help organizations adapt to change and take advantage of increasing growth opportunities, Oracle NetSuite has announced a series of new innovations within NetSuite. The latest updates to NetSuite further streamline and enhance financial, inventory, and operational management with the addition of powerful new automation, insights, and efficiency capabilities.

“All organizations have gone through seismic changes and while obstacles remain, opportunities are growing,” said Evan Goldberg, EVP of Oracle NetSuite. “We want to give our customers the tools needed to embrace these opportunities with confidence and optimism. The latest updates to the NetSuite platform enhance the financial, inventory management, automation, and analytics capabilities so that our customers can maximize operational performance and accelerate growth.”

The latest innovations within NetSuite include:

Smart Financials and Operational Automation

▪ Centralized Purchasing and Billing: Improves spend management, increases productivity, and reduces PO volume by consolidating purchases across multi-subsidiary organizations, generating vendor payments from a single location, and automating cross-charges. This can reduce purchase order volume and automate corresponding cross-charges. The payoff: better spend management and increased productivity.

▪ SuiteApprovals Email Approval: Enables organizations to simply click an email link to review, approve, or reject transactions. Staff can use the accompanying email approval log to review and audit email approval actions before they are updated in the system. This leads to more flexible and quicker transaction approvals.

▪ SuiteCommerce: Allows organizations to manage pages and content on their SuiteCommerce webstores in different languages within a single place, making global expansion easier and eliminating the need to purchase a different website per language. Users can now quickly add a full featured blog to the SuiteCommerce site to help increase SEO, drive webstore traffic, improve time spent on the site, and reduce the cost of inbound marketing.

Automated Inventory Management

▪ Pack Station: The touchscreen interface simplifies and increases the efficiency and accuracy of the packing process, while new functionality enables orders with the same shipping routes to be grouped together so they can be packed together. The feature also adds an extra layer of verification before orders ship to help prevent customer issues and avoid the added costs of reshipping.

▪ Warehouse Management System (WMS): New WMS capabilities allow organizations to enhance wave picking, tally scans, cart put-away, and label printing. With the new capabilities, picking waves can now be organized by delivery times and shipping address, while wave automation enhancements enable organizations to take advantage of off-peak processing. Deploying a Warehouse Management System (WMS) as part of a larger fulfillment and warehousing strategy helps growing businesses optimize warehouse operations in the key areas of inbound logistics,inventory visibility, outbond logistics and mobile scanning.

Analytics and Insights

▪ SuiteAnalytics: Users can add calculated fields on aggregated columns in a workbook, allowing them to gain real-time insights tailored to their business. Conditional formatting has also been added, allowing for customized highlighting of values to notify users of the data that is most in need of their attention. Native language support for SuiteAnalytics Workbooks is now available so that users can analyze and explore company data and workbooks in their language of choice.

▪ SuitePeople Performance Management: Eight new interactive charts with SuiteAnalytics Workbooks provide HR leaders with visibility into how groups of employees or individuals are performing. A new goals portlet has also been added so goals are more visible to employees, helping them stay focused and engaged, and managers can easily view how employees are tracking to set goals.

For more information on the latest updates and to learn about other resources for growing businesses, tune into NetSuite On Air Power Up, a new virtual event series taking place April 13 - 15, 2021.

About Oracle NetSuite

For more than 20 years, Oracle NetSuite has helped organizations grow, scale and adapt to change. NetSuite provides an integrated system that includes financials / Enterprise Resource Planning (ERP), inventory management, HR, professional services automation and omni-channel commerce, used by more than 24,000 customers in 203 countries and dependent territories. Learn more at Oracle NetSuite or via the NetSuite blog.

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