SUBSTANTIAL FEATURES OF NETSUITE 2019.2
The second release of NetSuite
2019.2 has brought in some amazing features and enhancements. With this
release, NetSuite has introduced bug fixes, upgrades to existing capabilities
and hundreds of new features. They offer brand new functionalities, ways to
minimise manual effort and even remove the need for customizations.
We have brought the most significant
updates and features we think you should be familiar with.
1. Banking Data Upgrades – In NetSuite, when the bank
accounts are reconciled to match the transactions, the bank statements need to
be imported. Only a few of the file formats were supported before the release
of this version such as CSV, BAI2, or OFX formats. The bank statement can be
downloaded by the users by Parsers SuiteApp with this latest release. The
SuiteApp works by using SuiteScript in importing and parsing the bank
statements. As the bank statement import process is now exposed, any file type
can be imported by customizing the parser.
2. Supply Allocation – The ability to allocate
inventory to open orders is the most exciting feature 2019.2 brings. Before
this release, the inventory in NetSuite has to be received first in the system
to show an increase in available inventory. The items already ordered would be
put back on orders until a later time if there is no available inventory. Now,
the inventory can be committed to open orders directly from the supply sources
with the new supply allocation feature.
3. REST – Based Web Services
(BETA) – To
extend the capabilities of SuiteTalk, REST-Based web services API is released.
In the cases where SOAP API does not suit the needs of developers, they can
utilize a lightweight REST API. It also has the capability to perform CRUD
operations with records, metadata catalogue and query support. The web service REST API is a more simple and
straightforward option.
4. SuiteAnalytics Workbook – The SuiteAnalytics is now
more powerful and user friendly with this new release. For an improved
dashboard performance and experience, more innovative workbooks are added along
with extended pivot, chart capabilities and custom record support. The important
advancements in SuiteAnalytics Workbook are
- Top N filtering and sorting for pivot and chart
- In addition to pivot, dimension and conditional filtering
with value formatting are also added.
- Portlet functionality is also added for the pivot.
- To get the real-time data, cache and cache clearing is now
made easy.
5. Mobile Enhancements – The users of NetSuite
mobile can stay connected even on the go. For iPhone users, even if they are
not connected, they can capture time and expense offline. The application will
sync all the captured information once connected. There is simplified
navigation for users to easily operate the app. A track of outgoing and
incoming business calls can also be kept through a dashboard call log. For
forgotten passwords, the feature of reset passwords is also added.
6. Global Financials – The diversified and global
population of NetSuite users are provided with these features on the financial
front:
- Multi-subsidiary accounting and management are enhanced.
- Streamlining bank reconciliation with updated data import
features.
- More responsive capability for revenue recognition.
- There are additional depreciation methods for Japan and
general ledger impact printing for China. Apart from this, there is an
increased support for operations all over the world.
7. Industry-Specific
Enhancements – There are a wide range of issues for businesses across industries,
NetSuite 2019.2 addresses these issues for – 0078
- For Manufacturers – Latest supply chain control tower
enhances visibility.
- For Retailers – Increased customer satisfaction and revenue with
personalized catalogue views. Also, there is an enhanced merchandise hierarchy
for more efficiency.
- For Software Companies – With the advanced project budgets,
the accuracy of project budgeting can be improved.
- For Service Companies – With project resource utilization
target, get a better understanding of workforce utilization and ROI of billable
resources.
- For Wholesale Distributors – New supply allocation for improved
customer service levels.
-
For NPOs – New vendor payments for enhanced business flexibility.
Looking for NetSuite Expertise?
There is so much to learn about
NetSuite 2019.2 release. You can listen to the below podcast by Oracle
NetSuite’s Senior Director of Product Marketing, Lisa Schwarz.
At SynergyTop,
the team of NetSuite ERP Consultants and SuiteCloud Developers are here to help
you make the most of your implementation. We can talk to you about how it would
work in your specific environment and make sure it’s the best choice for you. Write
to us at info@synergytop.com.
