Press Release

NetSuite Helps Businesses Run Better and Support Growth

Innovations and updates across the suite give customers the insight and control to increase productivity, enhance profitability, and drive growth

SuiteWorld 2022, Las VegasSeptember 28, 2022

Oracle NetSuite today announced a series of new product innovations to help organizations run more efficiently and increase the bottom line. The latest NetSuite innovations include an AP (accounts payable) automation solution that can increase the accuracy and speed of processing bills and making payments; a new CPQ (configure, price, quote) solution that helps accelerate and simplify the sales process; a new workforce management solution that can streamline scheduling, time tracking, and wage calculations; and a new shipping solution that helps bring added efficiency to warehouse operations.

In addition, NetSuite has introduced new automation and analytics. These can give organizations the insights and control to increase productivity and profitability by enhancing the financial, inventory management, manufacturing, and project management functionality within NetSuite.

“With an economy in transition, businesses can look to the certainty of data to find new paths to profitability and growth,” said Evan Goldberg, founder and EVP, Oracle NetSuite. “To help our customers do this, we continue to extend the capabilities of NetSuite. The latest updates span everything from financial management to HR to sales processes. They’re designed to help our customers run their business in a better way and support their growth journeys.”

NetSuite has introduced new solutions to address the time-consuming and labor-intensive accounts payable (AP) process, grow sales, deliver a seamless buying experience for customers, improve the efficiency of warehouse operations, and adapt staffing quickly to changing business needs.

With new automation and analytics, organizations can enhance efficiency and profitability by consolidating data, automating tasks, improving inventory management, streamlining workflows, and simplifying rebate and trade promotion program execution.

  • Data Residency: New data centers built on Oracle Cloud Infrastructure (OCI) help customers meet residency requirements and reduce latency by bringing NetSuite and data closer to customers. In the past year, NetSuite has opened 11 data centers in new cities, including Amsterdam, Newport, Osaka, San Jose, and Tokyo.
  • Intercompany Netting: New intercompany netting capabilities automatically book transactions across subsidiaries to streamline the period close process.
  • Inventory Management: Using NetSuite Warehouse Management System (WMS) and NetSuite Smart Count, customers can better manage inventory in unexpectedly empty bins in the warehouse. Once the bin is marked as empty, an inventory count is automatically triggered. And once the inventory is updated, the bin is made available again.
  • Mobile Manufacturing: The enhanced mobile application for NetSuite Manufacturing streamlines work order flows and validations, improves usability, and reduces data-entry mistakes.
  • Planning and Budgeting: New task management capabilities in NetSuite Planning and Budgeting help customers execute more efficiently and accurately by increasing visibility, automating tasks, and automatically recording activities related to those tasks. The enhanced version builder for scenario planning makes it faster to capture a range of budget or forecast scenarios to quickly deal with change.
  • Platform: New expansion of object support in REST simplifies integration with other systems. Meanwhile, Visual Studio enhancements for object management and project validation boost developer productivity. SuiteCloud developers can also enjoy a more modern development experience with the Graal runtime environment and the latest ECMAScript language features within SuiteScript 2.1.
  • Quality Management: New quality management functionality delivers more flexibility by allowing unplanned, ad hoc inspections that enable companies to drive higher quality across their product lines.
  • Rebates and Trade Promotions: New rebate and trade promotion management capabilities help save time and increase efficiency by automating the creation, execution, accrual, and reconciliation of vendor and customer rebate programs.

Get all the latest updates from SuiteWorld by registering for SuiteWorld On Air: By registering, attendees will have access to keynotes, sessions, demos, and NetSuite’s two-day live broadcast, NetSuite TV. Learn more about how organizations are leveraging the power of NetSuite to increase efficiency, improve productivity, and grow profitability.

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About Oracle NetSuite

For more than 20 years, Oracle NetSuite has helped organizations grow, scale, and adapt to change. NetSuite provides an integrated system that includes financials / Enterprise Resource Planning (ERP), inventory management, HR, professional services automation, and omnichannel commerce, used by more than 32,000 customers in 217 countries and dependent territories.

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