As a leading provider of a few of the best cloud ERP products available for the midmarket business, one of the most exciting times each year is ‘update season’, a twice-annual period where most cloud ERP vendors drop updates with hundreds of new features, enhancements, and occasional tweaks.
Well, it’s update season, and as one of the top implementation partners in the nation (at least according to Accounting Today, ERP Global Insights, and our customers), we’re excited to discuss the latest updates from our vendor partners, starting with a deeper look into the wide range of improvements made to NetSuite in 2020 Release 1.
New Features for Your Business in NetSuite’s 2020.1 Release
While not touted as “a barbecue, blockbuster and trip to Disneyland all rolled into one” like in 2019.2 the newest features in release 1 2020 might just be as exciting. From making life easier for developers looking for easy integration to accountants, manufacturers, and professional services companies looking for tailored updates, NetSuite makes it happen.
There’s something for everyone in the 128-page release notes ranging from revenue allocation to global financials, employee engagement to autonomous supply chain. Here are just a few of our favorites:
REST Web Services and a Native SuiteApp Marketplace
Like integration? Want it to be easy? REST web services are now available, allowing for easy and secure integration with external services in a common language.
Generally available REST web services enable external applications to securely integrate with NetSuite, and includes support for custom records, expanded CRUD (Create, Read, Update Delete) operations, record collection filtering, and executable Record Actions. Even more, applications will be available natively within the SuiteApp Marketplace, allowing for easy access to new connections and connectors.
Updates to SuiteCloud Development Framework and Better SuiteScript
In addition to this, your developers will now have an even easier time with SuiteCloud. The updated SuiteCloud Development Framework (SDF) improves developer productivity and broadens support for application features. SDF-enabled SuiteScript customizations make it easy to create and modify forms natively in SuiteScript.
Advanced Revenue Management
Whether they’re making it easier to rollup revenue and track recognition in the new Revenue Summary subtab, improved interface, and an enhanced audit trail. In this, NetSuite 2020.1 delivers improved visibility into contract revenue, providing end users better insight into revenue allocation and providing people a better understanding of whether offerings have been fully billed or not.
Supply Chain Enhancements
One of the biggest improvements to NetSuite comes in the extension to the Supply Chain Tower for product-based businesses. Pair this with enhanced analytics capabilities from SuiteAnalytics, and businesses will be able to see more, use the Supply Chain Tower to get intelligent predictions and simulations, and analyze imbalances.
These improvements will help product-based businesses to better meet delivery promises by automating the re-allocation of inventory when supply is constrained with new supply allocation exceptions capabilities.
Learn More: NetSuite Highlights Industry-Specific Improvements
Whether you’re a retailer, distributor, nonprofit, or ad agency, the newest version of NetSuite has something for you. We will provide an overview of each in an upcoming blog, but you can learn more by visiting the NetSuite Blogs:
- Food and Beverage Companies: NetSuite 2020 Release 1 Simplifies Processes with Automation and Greater Visibility Capabilities
- Manufacturers: NetSuite 2020 Release 1 Helps Increase Control and Visibility for Greater Supply Chain Management
- Retailers: Accelerate Operations with Improved Item Management and Supply Chain Optimization Delivered in NetSuite’s 2020 Release 1
- Wholesale Distributors: NetSuite 2020 Release 1 Helps Optimize Operations by Bringing Efficiencies to the Warehouse Floor
- Advertising, Media and Publishing Organizations: NetSuite 2020 Release 1 Enables Companies to Keep Up with the Growing Shift to Digital Advertising
- Nonprofits: NetSuite 2020 Release 1 Delivers Automations and Tighter Financial Controls
- Software Companies: Capitalize on Evolving Business Models with NetSuite 2020 Release 1 Enhancements
- Professional Services Companies: NetSuite 2020 Release 1 Helps Firms Thrive in a Time of Change
These are just some of the improvements added to the software—not including the variety of industry-specific additions, platform improvements, and more, something we will break down in an upcoming blog.
As a leading provider of NetSuite for clients in New York and beyond, MIBAR has the skills and experience to make this product work for your business. In fact, we’ve been known to save a few implementation “failures” and make the product work when our competitors couldn’t. Get to know more about our work and contact us for a free consultation.