NetSuite, the industry’s leading provider of cloud-based ERP software suite, recently announced Version 2016 Release 1 of business management suite.
Let’s take a look at what NetSuite has in store for its Version 2016:
- More powerful and flexible revenue recognition capabilities.
- New capabilities empowering commerce and retail companies to streamline and optimize order entry and fulfilment.
- New flexibility for vendor management and multi-book accounting with NetSuite OneWorld.
- General Availability of SuiteSegments including key enhancements.
- Industry feature highlights for manufacturing, retail, services, software and Internet companies, and wholesale distribution.
Improvements for Retailers:
- New intelligent order allocation engine fulfills orders from anywhere in a timely manner delighting your customers.
- New accounting and reporting capabilities enhance real-time inventory visibility enabling you to measure and manage product profitability.
- New usability improvements enable you to stay ahead of the curve by managing expected increase in your sales order volume.
More features for Software and Internet companies:
- Advanced revenue recognition capabilities for compliance with rev rec standards using less effort.
- Advanced financial reporting with multi-book consolidation optimizing global financial close.
- Improved contract renewals simplify the complexities surrounding contract renewals enabling better customer service.
All new feature for Manufacturers:
- New intelligent order allocation engine fulfills orders from anywhere in a timely manner delighting your customers.
- New grid order entry for item transfer orders ensures replenishments will take less time and effort to process.
- Improved vendor credit line simplifies credit limit compliance while doing business with global vendors.
- Enhanced fixed assets management capabilities ensure compliance with IFRS.
Latest features for Service companies:
- New project resource management enables tighter control of projects while optimizing resource utilization.
- Enhanced flexibility to time and material charge based billing enables billing by units such as hourly, daily, weekly.
- Improved vendor credit line simplifies credit limit compliance while doing business with global vendors.
New features for Wholesale Distributors:
- New intelligent order allocation engine fulfills orders from anywhere in a timely manner delighting your customers.
- New grid order entry for item transfer orders ensures replenishments will take less time and effort to process.
- Improved vendor credit line simplifies credit limit compliance while doing business with global vendors.
- Enhanced fixed assets management capabilities ensure compliance with IFRS.
What’s new with SuiteCloud Platform?
- New SuiteScript 2.0 for an improved development experience.
- Improved GRC capabilities ensuring more visibility and control.
- Enhanced SuiteSegments for smarter analysis and intelligent insights.
For more details on the advancements and capabilities in NetSuite OneWorld, read here.
About Ambit: Ambit Software is a certified NetSuite Solution Provider with extensive experience in implementing NetSuite across diverse verticals. For more details on Ambit’s NetSuite practice, click here.
