Oracle NetSuite’s latest round of upgrades have been developed to help customers adapt to an uncertain future coming out of COVID-19, according to the company. The top line changes include automation of accounts payable and invoices, supply chain management and analytics.
“It’s been an overwhelming year of change and businesses have been forced to build for a new reality,” said Evan Goldberg, EVP of Oracle NetSuite.
“To help our customers in ANZ navigate all of this change, we have introduced new innovations across the suite, from finance, ecommerce and operations, to reduce IT complexity, streamline business processes, improve decision making, and enhance the customer experience. The latest updates will help our customers gain real-time visibility into their business so that they have the agility and control required to successfully build for what’s next.”
The latest NetSuite changes include updates to help finance and accounting, supply chain and operations, sales and marketing, project management, and IT professionals:
Finance and Accounting Professionals
- Accounts Payable Automation: Helps customers reduce manual efforts and streamline financial management by enabling finance teams to digitally manage workflows and automate entry of invoices, electronic payment processes, and scheduled payment runs.
- Transactions and Invoice Automation: Helps customers eliminate time-intensive and repetitive tasks by enabling finance teams to automate invoice grouping, intercompany cross charges, and the creation and posting of transactions.
Supply Chain and Operations Professionals
- Automated Fulfillment Capabilities: Help customers allocate inventory to optimise profit by automatically filling orders based on user-defined criteria such as lead time, shipping cost, or fill rate.
- Supply Planning Capabilities: Help customers align supply and demand by providing new planning features for material requirements planning (MRP) and a dedicated repository that allows planners to easily monitor, release, and review orders.
- Intelligent Predicted Risk: Helps customers gain greater insight into the potential risks of goods not shipping on time. For example, machine learning algorithms can identify purchase, sales, or transfer orders that are at risk and provide alternative recommendations.
Project Management Professionals
- Expense Management Automation: Helps customers streamline the expense process and reduce data entry errors by populating expense lines directly from American Express corporate credit cards.
- Resource Planning Enhancements: Help customers improve utilisation and resource planning by providing a unified view of project budgeting and assignments. Project managers will have the ability to identify skilled resources, view availability and conflicts, and check budgetary constraints to improve project profitability.
Administrators and Developers
- NetSuite Analytics Warehouse: Helps customers improve decision-making by aggregating multiple sources of data, leveraging interactive visualisations, predictive analytics and more. This new capability extends SuiteAnalytics through an integration with Oracle Analytics Cloud and Autonomous Data Warehouse.
- SuiteAnalytics Enhancements: Help customers build reports and analysis across the business by supporting multiple datasets in the SuiteAnalytics Workbook. Administrators and developers can take advantage of new pivot tables and advanced visualisation capabilities to view sales performance, project status, and product stock and fulfillment.
- Application Performance Manager Dashboards: Help users quickly spot issues and find resolutions by providing a real-time view of account status through a new performance health dashboard. Administrators can view overall performance, flag system bottlenecks, and avoid disruptions for day-to-day end-users.
In addition to the latest product updates, NetSuite has also introduced Business Now, a resource guide designed to help businesses navigate the unknown and plan for what’s next. It includes practical guidance, industry insights, and inspirational stories from businesses about how they are adapting to change.