New products

NetSuite Announces New Products, Features

SUITEWORLD, the largest gathering of the NetSuite community officially kicked off Wednesday in Las Vegas, Nevada. This is the annual enterprise software maker customer and partner conference hosted by enterprise resource planning (ERP) and customer relationship management (CRM) company Oracle NetSuite.

The keynote was given by none other than Evan Goldberg, Executive Vice President and Founder of NetSuite, who personally announced some of the enterprise software company’s latest updates and features on finance and accounting, sales, HR and e-commerce, to name a few.

SuiteWorld 2022 opens Wednesday, September 28, 2022 at Caesar’s Forum Convention Center in Las Vegas, Nevada. Oracle Net Suite

One of the announcements includes NetSuite Account Payable Automation, which aims to help organizations manage time-consuming and laborious Accounts Payable (AP) processes. It is the only solution that integrates banking services into a cloud-based enterprise resource planning (ERP) system that would help organizations process invoices and pay vendors more easily and quickly from NetSuite. As a result, organizations could better control outgoing cash flow and easily scale end-to-end accounts payable processes.

“Accounts Payable plays an important role in helping organizations manage cash flow, control costs, and maintain strong vendor relationships, but too often the process is slow, tedious, and error-prone,” said said Goldberg. “By simplifying and automating the entire invoice payment process – from data capture to payment and reconciliation – NetSuite AP Automation eliminates these challenges. It helps businesses streamline and improve a key operation, empowering teams AP to operate more efficiently and ultimately reduce costs.”

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Also on the table was the announcement of NetSuite CPQ which could help “deliver a seamless buying experience for customers” by enabling sales teams to quickly configure, price, and quote (CPQ) complex products with a total accuracy and reliability, directly in NetSuite.

“Giving sales organizations the right tools is key to closing deals faster and meeting ever-increasing customer expectations,” Goldberg said. “We’ve been helping our customers in this space for many years with an enterprise system that fuels growth, and NetSuite CPQ is the final step. NetSuite CPQ will help our customers quickly configure their product offerings and generate accurate proposals to so they can streamline revenue processes and improve overall business results.”

NetSuite CPQ enables sales teams to be more efficient and reduce costs in the pricing process. The solution allows them to select product features and apply customizable business rules to “ensure that every configuration is correct, eliminating the need to double-check and rework orders.”

NetSuite CPQ is the only native configure, price, and quote solution built on the NetSuite platform. It works seamlessly with NetSuite’s ERP, CRM, and e-commerce solutions using NetSuite’s pricing, inventory, and profitability data, along with connected workflows that automate the transition from sales to delivery.

Another announcement was made in the form of a mobile app to help organizations further improve the efficiency of warehouse operations. NetSuite Ship Central is a mobile app that helps organizations “optimize operations, eliminate manual processes, and speed up deliveries to customers.” The solution provides warehouse workers with packing and shipping capabilities on a mobile device or kiosk.

“Now, more than ever, warehouse operations are under pressure to increase production without additional resources to do so,” Goldberg said. “With NetSuite Ship Central, we are expanding our capabilities to help customers further automate time-consuming warehouse operations to increase production and efficiency. By facilitating shipment consolidation, adjusting shipping routes for profitability and by customizing workflows to meet business demands, Ship Central provides insights and insights to further optimize the fulfillment process, reduce costs and increase customer satisfaction.”

Evan Goldberg, Executive Vice President and Founder of NetSuite, delivers his keynote address at the SuiteWorld 2022 grand opening on Wednesday, Sept. 28, 2022, at Caesar's Forum Convention Center in Las Vegas, Nevada.  Oracle Net Suite

Evan Goldberg, Executive Vice President and Founder of NetSuite, delivers his keynote address at the SuiteWorld 2022 grand opening on Wednesday, Sept. 28, 2022, at Caesar’s Forum Convention Center in Las Vegas, Nevada. Oracle Net Suite

With the NetSuite warehouse management system (WMS), Ship Central provides end-to-end functionality for picking, packing, and shipping products. It eliminates unnecessary steps in the preparation and shipping process and helps organizations track packages faster, determine the best carrier based on delivery date or type of location, print shipping labels and to create documents. The mobile app helps warehouse management optimize fulfillment processes and minimize shipping costs and transit times.

NetSuite SuitePeople Workforce Management was also revealed this week, a solution that “improves employee engagement by automating routine tasks such as staff scheduling, tracking employee hours, and calculating salaries.” It also provides unique workforce planning recommendations to help organizations optimize their business goals.

“In a tight labor market, organizations need to improve their workforce management to be competitive,” Goldberg said. “With SuitePeople’s Workforce Management, organizations can quickly adjust their workforce to adapt to changing business conditions. They can also ensure that they are paying their employees correctly and meeting compliance requirements. This addition to SuitePeople reinforces our commitment to helping our clients increase employee engagement, which in turn positively impacts the bottom line.”

SuitePeople Workforce Management helps organizations “balance labor needs and profitability by providing financial and operational management with insights into sales metrics, production targets, and labor costs “. It supports employee engagement by allowing employees to view their schedules, enter and exit shifts, and request shift changes directly from

their mobile devices.