NetSuite 2016 Release 1 Sneak Preview

With the 2016.1 release of NetSuite’s business management platform right around the corner, Aminian Business Services would like to provide you with a quick summary of the new features and enhancements that will soon be available in your NetSuite account.
Twice a year, NetSuite’s phased product upgrades provide customers with improved functionality and usability. From late-February through late-March, NetSuite will begin rolling out their 2016.1 release. For current customers and those looking at NetSuite for their next business management platform, the 2016.1 release promises to bring a wealth of useful new features and functionality designed to help you disrupt your industry. Below is a sneak preview of the new features included in the 2016.1 release.
What’s new on NetSuite 2016.1:
  • More powerful and flexible revenue recognition capabilities.
  • New capabilities empowering commerce and retail companies to streamline and optimize order entry and fulfillment.
  • 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.
  • 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.
  • 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.
  • 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.
  • 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.
  • 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.
  • 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.