NetSuite 2019 Release 2 Brings Business Impact in a Big Way
Posted by Peter Fung, Senior Director Product Management ERP, Oracle NetSuite
The beginning of summer brings more than picnics in the park, big action movies and family vacations. It also brings a hotly-awaited NetSuite product release, and this year’s NetSuite 2019 Release 2 is a barbecue, blockbuster and trip to Disneyland all rolled into one.
NetSuite customers receive two major upgrades per year, each bringing new features and functionality that are completed within an hour on average at no extra cost. NetSuite 2019 Release 2 delivers significant business impact, with everything from powerful new financial capabilities and refined human capital management processes to beefed-up analytics and an expanded box of developer tools, as well as a wide array of industry-specific features.
For starters, new human capital management capabilities in NetSuite 2019 Release 2 will enable HR decision-makers to:
- Better understand employee tenure and employment history by quickly viewing key milestones and timelines.
- Gain more flexibility in managing hourly time-off accruals, including audit trails for how accruals are earned.
- Get an accurate view of their HR landscapes with improved dashboard components.
NetSuite mobile enables users to stay connected, even on the go. iPhone users of NetSuite can now capture time and expense offline, when they are not connected. Once connected, the app will sync all the information captured. Simplified navigation will help users easily maneuver through app. A dashboard call log enables easy tracking of incoming and outgoing business calls. Reset password has also been added for forgotten passwords.
SuiteAnalytics meets customers’ growing thirst for actionable data, and an intuitive new user interface brings those insights to the entire NetSuite environment faster than ever. Pre-built SuiteAnalytics workbooks for Commerce, Sales and Procurement improve execution by highlighting opportunities and revealing potential issues. What’s more, SuiteAnalytics can be used to leverage analytics anywhere within the SuiteCloud platform.
Meanwhile, on the financial front, NetSuite 2019 Release 2 will provide the increasingly diversified and global population of NetSuite customers with:
- Improved multi-subsidiary management and accounting.
- New advanced data import features that streamline bank reconciliation.
- More flexible and granular revenue recognition capabilities.
- Improved support for your operations around the world with general ledger impact printing for China and additional depreciation methods for Japan.
Â Industry-Specific Enhancements
NetSuite 2019 Release 2 addresses a wide array of problems for businesses across industries.
For wholesale distributors and manufacturers, this release includes:
- A new warehouse management solution that increases productivity with a flexible wave release process, paperless picking and an intuitive mobile interface.
- Supply allocation that improves customer service levels by optimizing usage of current and future inventory assets for customer orders.
- The Supply Chain Control Tower, which provides unparalleled visibility and enables manufacturers and wholesale distributors to avoid problems in their supply chains. The enhancement gives users a single view of the state of their supply chains and delivers predicted risks and recommended actions to avoid disruptions.
For retailers, NetSuite 2019 Release 2 offers:
- Merchandise attributes which enable retailers to easily view product performance based on different product classifications (i.e. brand, collection).
Learn more about enhancements for Retailers in NetSuite 2019 Release 2 .
For software and services businesses, NetSuite Release 2 offers:
- Simplified project budgeting, powerful new resource management and improved reporting that will allow professional services firms to plan, budget and schedule projects more effectively, as well as better manage resources as a global pool, all of which translate to greater resource utilization and increased revenue.
As with every NetSuite release, there are also goodies for developers. SuiteCloud Platform enhancements in NetSuite 2019 Release 2 include support for industry standards such as REST services for integration and OpenID Connect for federated authentication, enabling developers to further customize and extend NetSuite.
In general, NetSuite 2019 Release 2 pushes the developer and administrator experience forward, making it easier to localize NetSuite applications, harden security and harness the power of SuiteScript and NetSuite’s software development framework.
Learn more about the Platform enhancements in NetSuite 2019 Release 2 .
Â Learn More About NetSuite 2019 Release 2
Clearly, there’s a lot to learn about NetSuite 2019 Release 2â€”more than I can possibly communicate in a blog post. Please read the release notes and check out our Sneak Peek to learn how this latest NetSuite release can benefit your organization.
Perhaps more importantly: Access your preview account as soon as it’s available. Not only can you see how the new features will work with your own data, but it doesn’t cost a dime.