There’s no better solution than one that keeps customizing and enhancing its features to boost your business. NetSuite continues to bring you new tools and features to help you run your business efficiently. In 2021 alone, NetSuite has rolled out 160 enhancements that customers requested.
The new features coming to NetSuite will focus on increasing sales and enhancing cash flow. These features will enable you to enjoy more efficient operations and maximize your business’s profitability.
Want to learn how NetSuite’s new features will help you scale your business?
Why Drive Sales and Improve Cash Flow with NetSuite?
Any business looking forward to scaling or expanding its territories needs to increase sales and improve cash flow. While there are different strategies you can implement to accomplish this, you don’t want a time-consuming and challenging method to execute.
That’s why NetSuite offers you new features that make it easy and fast for you to scale your sales and improve your cash flow. You get to connect with potential clients, monitor your employees, and adapt to different challenges in real-time.
New NetSuite Features for Driving Sales and Improving Cash Flow
Below are the new features coming to NetSuite to help you drive sales and improve cash flow:
1) NetSuite Customer 360
Increasing your customer base (or the spending of the existing clients) boosts your company’s returns. The new NetSuite features help you accomplish this in different ways. To start with, Customer 360 collaborates with the NetSuite CRM and SuiteCommerce to provide you with all the information about your buyers.
It offers you insights concerning customers to help you make better decisions that drive sales. Moreover, you don’t have to go through the hassle of visiting different platforms to get all the information or insight; it’s all in one place!
With Customer 360, you view key performance indicators such as sales data, remaining credits, and customer profitability. This information is helpful to your sales reps because it helps them share your products’ benefits and key factors that have worked well for other customers. When armed with this information, your sales team can create scenarios for leads that help them understand how your products will benefit their unique businesses.
Customer 360 does not stop there, as it allows users to view the browsing behavior by clients and items. This helps you identify whether they are at the top, middle, or bottom of the funnel. Hence, you can employ the right strategy depending on their knowledge and interest.
This tool utilizes all the information it collects to offer intelligent product recommendations available for eCommerce solutions.
2) 10 Prebuilt NetSuite Connectors
Looking for a solution that will help you reach your prospective clients without much struggle? NetSuite presents you with the 10 prebuilt NetSuite Connectors that allow you to reach your potential customers, regardless of their locations.
These “connectors” cover popular eCommerce sites and marketplaces like eBay, Amazon, and Walmart. They also cover fulfillment providers like Fulfillment by Amazon. Each NetSuite Connector gives you the ability to create data mapping functions between the platform itself and your eCommerce storefronts, POS systems, and third-party logistics providers. In doing so, you’ll:
- Automate the transfer of data
- Keep vital information centralized
- Eliminate manual data entry, costly errors, and inefficient processes that would otherwise be managed via spreadsheets and emails
3) Improved Supply Planning Function
Supply chain disruption can impact your cash flow significantly. But thanks to the new supply planning function, it gives you a better view of how different scenarios can impact your business. For instance, it can facilitate the transition from 3PL to an in-house inventory management system.
As a result, you can employ suitable approaches to prevent losses or extra costs. You can also adopt different strategies that will help you improve your cash flow.
Businesses will always face changes, whether internal or external. This means you should be ready to adapt to the different requirements to continue running your business efficiently. That’s why NetSuite offers you an enhanced supply chain function that will allow you to run planning fast enough to keep up with the daily requirements.
The updated supply chain functions come with a new planning workbench where employees can filter all plans by item, product category, location, and see what is essential. The planning tools also allow them to save their favorite views to monitor their progress and decide what actions to take next.
4) Enhanced UX and Infrastructure
NetSuite’s ongoing transition to run on OCI data centers will bring numerous benefits to businesses. The solution can stand up different data centers faster with Oracle’s support, unlike before. Clients can be closer to the data centers, and enjoy more performance gains. Customers can also plan for their transition to OCI, minimizing disruption.
There’s also a new UX enhancement that offers a great user experience. With the assimilation of the Oracle Redwood Redesign, NetSuite will provide an experience similar to that of consumer applications. In addition, the solution will focus on meeting the user’s needs, making it easy to operate.
All these modifications will help in the efficient operation of the company, including inventories and other elements. Hence, you can drive sales and improve your company’s cash flow to boost your business.
5) SuitePeople Solution
The SuitePeople Solution does not solely serve as a payroll tool; it can perform other functions, as well. For example, employers can set overtime rules with specific daily and weekly thresholds, plus holiday limits.
Any time employees log hours, the system breaks down regular and overtime pay. It can also display these details in a color-coded schedule. Since HR is a core element of your company that affects the cash flow, it’s vital to give this team the resources necessary to produce fruitful, positive outcomes for your business.
SuitePeople Solution helps connect employees’ goals to the work done. You can monitor the progress of individuals’ and teams’ contributions, and take note of how these efforts affect your organization’s cash flow and sales. If the impact is negative, you’ll have the tools you need to make the necessary adjustments, such as setting a different weekly threshold to achieve the desired results, whether in the inventories or sales.
Take Advantage of These New Features With MIBAR
Do you want to enjoy the significant gains that come with NetSuite’s new features? The experts at MIBAR can help you optimize NetSuite’s offerings so you can drive sales and increase your cash flow. You’ll also enjoy its seamless integration into your system as it can be customized to fit your company’s needs. As a leading NetSuite partner, we’ve established a genuine methodology to help maximize every dollar of your ERP budget and ensure NetSuite is meeting your needs. Learn more about our NetSuite support and optimization services.
And learn more about new features coming to NetSuite: