NetSuite Helps Organizations Across Industries Unlock Growth

To help organizations across industries unlock growth and take their business to the next level, Oracle NetSuite today announced a series of new enhancements within the NetSuite solution. The latest enhancements include new industry cloud solutions that help customers achieve the benefits of the cloud in as little as 45 days and more than 65 new and updated features for customers to core business management capabilities within NetSuite.

“Running a growing business can be overwhelming without the right levels of visibility and control,” said Evan Goldberg, EVP, Oracle NetSuite. “Our goal is to help our customers focus on what matters and unlock new opportunities by giving them the solutions needed to be agile and adapt to changing business dynamics. The latest updates to NetSuite build on that goal and our commitment to delivering customers in all industries a roadmap for success.”

Key updates to NetSuite include new financial, analytics, HR, supply chain, nonprofit, project management and commerce capabilities. The new capabilities help organizations streamline business operations, improve decision making, enhance the employee experience and help nonprofit organizations easily track resources.

• Analytics: Enhancements to SuiteAnalytics querying, pivoting, and charting plus 17 new pre-built Industry & Role SuiteAnalytics Workbooks make it easier than ever for customers to gain visibility into key business metrics by providing insights into commerce search results as well as procurement, inventory and supply chain processes.
• Supply Chain: Predictive risks have been added to the Supply Chain Control Tower. This enables planners, buyers and operation users to increase on time delivery and optimize supply chain efficiency by being proactively alerted to potential supply chain issues and being prescribed potential actions to avoid the problems in the first place. This is built on the Intelligent Suite Machine Learning and AI platform.
• Distribution: New warehouse management system (WMS) features give customers more control when allocating current and future inventory across the business by optimizing product allocation.  In addition, a new order release capability provides better control of what is released to the warehouse, and a new mobile app improves operational efficiency.
• Advanced Project Budgets: New project budgeting capabilities enable customers to make more informed decisions by providing a single view into all aspects of project budgeting, including the ability to create multiple versions of the budget plan.
• Commerce: New features enable customers to streamline operations by using merchandise attributes such as color, size and pattern to quickly and easily access sales and inventory insights. In addition, Personalized Catalog Views help merchants personalize the customer experience by providing selective access to catalog items based on user preference.
• Nonprofit: The new program outcomes feature allows nonprofit organizations to monitor the health and measure the outcome of their key programs, ensuring that they are staying true to their objectives and show donors the effectiveness of their funding.
• HR: New capabilities within SuitePeople help customers enhance the employee experience, gain deeper visibility into HR processes and empower HR teams. The new capabilities include an employee timeline to easily view key milestones, an improved payroll experience for administrators and employees, and new HR dashboard capabilities.
• Financials: New advanced banking data import features help customers reduce manual and time-consuming tasks associated with bank or credit reconciliation. In addition, new multi-subsidiary management and accounting capabilities help finance teams streamline the management of intercompany business processes.

To help customers achieve the benefits of the cloud in as little as 45 days, NetSuite continues to accelerate its investment in SuiteSuccess. SuiteSuccess is a pre-configured industry cloud solution, built on industry-leading practices, that combines deep domain knowledge with pre-built workflows, KPIs and dashboards. The latest additions to SuiteSuccess include expanded vertical capabilities across more than 10 industries. 

• SuiteSuccess for Restaurant & Hospitality: New innovations around menu technology, supply chain and customer experience increase transparency and operational efficiencies. Organizations benefit from a unified hospitality management software platform that combines financials, inventory management, procurement, multiple location/franchise management and point of sale integration with Oracle MICROS.
• SuiteSuccess for Planning & Budgeting: Is now available for customers in seven industries and includes new data modelling capabilities that enhance company-wide and departmental planning. Customers in the software, agency, social impact, services, retail and wholesale distribution can now take advantage of SuiteSuccess for Planning & Budgeting to facilitate real-time decision-making, gain instant visibility into forecasting subscription and non-subscription revenue performance.
• SuiteSuccess for Food & Beverage: New forecasting, supply chain planning, co-packer visibility, shop floor scheduling and work order management enhancements give food and beverage organizations a real-time view into the health of their organization.
• SuiteSuccess for SuitePeople: New pre-configured roles, dashboards and forms help customers streamline the management of employee records and improve strategic decision making around employee job insights and efficiency. In addition, payroll management enhancements help customers make informed budgeting decisions within their workforce.