Oracle NetSuite always aims to assist its clients in decision-making and acceleration.
Despite its growth, the company recently announced new features in its enterprise management system.
Recent innovations announced by Oracle NetSuite include a solution that integrates fintech with Oracle NetSuite ERP and a new analytical warehouse, which helps customers improve decision-making and discover additional revenue streams, as well as expanded support services for customers to leverage the full capabilities of the system.
In addition, Oracle NetSuite has introduced new automation and analytics that will help organizations increase agility and accelerate growth by enhancing commerce, HR, finance and operations, project management, and supply chain capabilities within Oracle NetSuite.
“All organizations have undergone significant changes in the last 18 months, and while obstacles remain, opportunities are growing.” said Evan Goldberg, EVP of Oracle NetSuite.
“To help our customers seize these opportunities and accelerate growth, we are introducing innovations that add powerful analytics and automation capabilities across our entire product suite. The latest updates to Oracle NetSuite help reduce manual processes and ensure customers have timely and accurate data so they can make better decisions, respond quickly to market conditions, and scale their organizations,” Goldberg commented.
Learn more about the new features of Oracle NetSuite ERP:
SuiteBanking
SuiteBanking is a solution that aims to help clients automate key financial processes and gain complete visibility into their company's cash flow, something that is so important today.
With this solution, paying bills, sending invoices, and receiving payments becomes faster and easier, all from within the Oracle NetSuite ERP system, because all accounts payable and accounts receivable processes are brought together in a fully automated way.
Finally, a finance department with greater agility to operationalize all the necessary processes.
Oracle NetSuite Analytics Warehouse
A new analytical warehouse built on Oracle Analytics Cloud and Oracle Autonomous Data Warehouse, Oracle NetSuite Analytics Warehouse helps customers quickly identify patterns and gain insights from Oracle NetSuite and third-party data to improve decision-making and discover new and important revenue streams.
Advanced customer support manuals
Oracle NetSuite's advanced customer support service has been expanded and now also includes prescriptive playbooks that help customers accelerate their return on investment.
All of these new manuals that are now available were developed taking into account the experience and new data from thousands of implementation projects carried out worldwide.
With these new manuals, Oracle NetSuite aims to help customers meet the challenges of today's market, such as revenue recognition, project profitability, or supply chain management and cross-functional processes, such as quoting for cash payments.
In addition, these new manuals also support important growth milestones, such as geographic expansion, IPO preparation, or merger/acquisition activity.
New analytical and automation innovations enhance the capabilities of commerce, HR, finance and operations, project management, and supply chain within the Oracle NetSuite ERP system.
We know that, with these new features, organizations can improve decision-making, streamline business processes, simplify payments, reduce IT complexity, and enhance the customer and employee experience.
Analysis
Currently, all Oracle NetSuite customers can rely on more than 360 dashboards, providing a focused workspace that aggregates valuable Oracle NetSuite data and functionality, allowing them to enhance insights, automation, collaboration, and simplify day-to-day tasks, even in the most critical business functions such as inventory, customers, projects, and cash flow.
Retail
The new smart product recommendations in SuiteCommerce leverage transactional and behavioral data to drive sales, allowing organizations to personalize offers for website visitors and predict which products are most likely to be relevant to each individual shopper.
In addition, the new Oracle NetSuite ERP connectors provide seamless integrations with marketplaces like Amazon and Walmart, third-party logistics providers, and other e-commerce platforms like Shopify, allowing customers to quickly add new channels needed to support their business growth.
RH
SuitePeople, a human resources management system, brings new fully automated 401(k) calculations that use configurable rule-based formulas to help organizations save time and improve accuracy.
In addition, a new onboarding portal provides a single location to review, update, and complete all Oracle NetSuite-related onboarding tasks, helping new employees get on board faster and be more productive in their day-to-day work.
Finances
The new online payment features allow links to secure payment pages – where customers can view and pay their bills by 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 companies with multiple subsidiaries streamline accounting, customers can now consolidate the creation of purchase requisitions, purchases, and invoicing across subsidiaries.
Platform and infrastructure
The new SuiteAnalytics workbook APIs enable programmatic access to a wide range of workbook features to help developers build powerful Oracle NetSuite ERP business intelligence applications.
In addition, the new support for the SuiteCloud Code Editor helps developers create and manage Oracle NetSuite applications and customizations using the Microsoft Visual Studio Code Editor.
Project management
The new invoice presentation templates help clients configure project invoices in their preferred format, with the level of detail that will allow for timely payment of bills and improve cash flow.
Furthermore, enhancements to project procurement allow purchase orders to be created from the project record and enable easy tracking of purchase orders, vendor invoicing, and payments related to a project.
This also helps organizations increase the accuracy of project accounting and improve collaboration between procurement and project managers.
Supply chain
Improvements in inventory allocation allow planners to allocate inventory by gross profit or revenue and more accurately predict availability at a given location – taking into account supply chain lead times, allocation strategies, sales channel allocations, and reservations – so that organizations can prioritize inventory for sales orders and allocate inventory more profitably.
In addition, Smart Count, a new automated cycle counting solution, automatically triggers cycle counting based on events, inventory levels, sales velocity limits, or a schedule, and performs count scans without affecting on-site operations.
We know that by automating count approvals based on a set threshold, organizations can reduce the time spent on inventory counting, avoid stockouts, and increase customer satisfaction.
Conclusion
All the new features developed by Oracle NetSuite were conceived and planned to further assist our clients in the decision-making process, thereby making companies more competitive in today's challenging market.
Do you want to benefit from all the new features of Oracle NetSuite ERP?
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Active Cloud Solutions is the leading Oracle NetSuite partner in South America, responsible for implementing the most complex Oracle NetSuite projects.
We have a team of specialized and prepared consultants to provide all the necessary support for the development of high-quality and efficient projects.
