NetSuite 2019.2 Sneak Preview

NetSuite 2020.1 New Release Preview

With the 2020.1 release of NetSuite’s business management platform fast approaching, 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. Beginning in mid-February, NetSuite will begin rolling out their 2020.1 release to customers. For current customers and those looking at NetSuite for their next business management platform, the NetSuite 2020.1 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 NetSuite’s 2020.1 upgrade.
What’s new on NetSuite 2020.1:
  • With direct bank connectivity, banking data is automatically updated in your NetSuite account. The intelligent matching engine continuously matches bank data to transactions in NetSuite, greatly reducing reconciliation time.
  • SuitePeople HR provides new insights into salary and experience data, allowing managers to make employee change requests with confidence. New variable pay options enables better compensation management with payment flowing seamlessly to SuitePeople Payroll.
  • Extended capabilities to the Supply Chain Control Tower now provide intelligent predictions and simulations on transfer order risks and recommended actions that will proactively optimize your supply chain.
  • Industry feature highlights for Manufacturing, Retail, Services, Software and Internet companies, Wholesale Distribution and the SuiteCloud Platform.

New Feature Highlights for Manufacturers

  • Proactively address supply chain risks with intelligent insights on transfer orders. The new SuiteAnalytics Supply Chain Workbook provides a way to efficiently analyze supply chain imbalances.
  • Easily administer outsourcing processes with vendors for the production of manufactured Items and automate related work order processing and payables.
  • The new manufacturing mobile app increase shop floor productivity and helps to enable a paperless shop floor.

New Feature Highlights for Retailers

  • Enhanced visualization features of the merchandise hierarchy tree make it easier to manage large hierarchies.

  • Easily administer outsourcing processes with vendors for the production of manufactured Items and automate related work order processing and payables.

  • Automate the re-allocation of inventory when supply is constrained with supply allocation exceptions.

New Feature Highlights for Professional Services

  • Increase accuracy of project profitability with additional metrics cost and billing forecasts.

  • New time modification enhancements provide better control of billable time.

  • Automate the calculation of costs in project budgeting based on the resources assigned. Cost graphs change dynamically as budgets are entered, modified and compared against actual transactions.

New Feature highlights for Software Companies:

  • With direct bank connectivity, banking data is automatically updated in your NetSuite account. The intelligent matching engine continuously matches bank data to transactions in NetSuite, greatly reducing reconciliation time.

  • Firms with global billing operations and multi-subsidiary customers will enjoy streamlined billing from a single customer record and a clearer view of customer relationships.

  • Better revenue trace-through and an enhanced audit trail means improved visibility into how changes to subscriptions impact revenue, as well as more precise revenue recognition.

New Feature highlights for Wholesale Distribution

  • GS1 barcoding standards are now supported with NetSuite’s WMS mobile app, making warehouse operations more efficient.

  • With the Supply Allocation engine, fulfillment requests can now be automatically created when the expected ship date is reached, greatly improving service levels and customer satisfaction.

  • Optimize on time delivery with order allocation exceptions management.