In February 2018, NetSuite released a new upgrade NetSuite 2018.1 with some new features and functionalities.
A new update helps you ensure that your software and organization, both are running at optimal performance. Here are some highlights of the new release.
1. General Business
- Launching of new websites has never been so easy. Now you can launch new web stores (which is responsive across multiple devices) using SuiteCommerce to launch websites quickly.
- The new Multi-Subsidiary Customer feature allows customers to be shared across subsidiaries, thereby reducing duplication, and improving reporting capability.
- Some rules (New Transaction Types for Custom Rules, Inactivate Transaction Matching Rules, Automatic Correction to Matches when Transactions are Deleted) have been updated so they match with transaction details thereby reducing operational overhead costs and tasks.
- Get complete details of Global Inventory and Supply Chain status with the new feature of Supply Chain Snapshot.
- New features in Advanced Revenue Management section are fully compatible with revenue recognition regulations and helps to track productivity with new reports built for easy interaction with Users.
2. Global Financials
- With the inclusion of a new feature, local regulatory requirements can now be easily fulfilled for countries like China, Japan, Malaysia, and Japan.
- Each subsidiary can be activated separately which gives more flexibility in managing the multi-book environment.
3. Non-profit organizations
- A new feature of reporting has been added which gives more flexibility to companies in tracking the project profitability report. Also, customers can now forecast future revenue more accurately by including current Sales order as part of future revenue.
- All resources related data such as rate and time can be updated with a single click, thus speeding up charge based billing projects.
- User Interface for Timesheets has been updated and now provides an easy, intuitive experience to users.
4. Wholesale Distributors
- A new Inventory status feature has been introduced that helps in increasing the commitment and order fulfillment capability which ultimately helps in increasing the delivery efficiency.
- You can now use Cross-Subsidiary Fulfillment to stream order management and fulfill orders efficiently within the global panorama.
- With support of the landed cost capability using Inbound Shipment management, Inventory valuation can now be tracked more accurately on a regular basis.
5. Service sector companies (such as Advertising, Media, and Publishing)
- Reporting has been enhanced to provide more flexibility to companies in tracking project profitability. Also, customers can now forecast future revenue more accurately by including current Sales order as part of future revenue.
- The addition of new Resource Allocation grid filters helps users in allocating resources easily and control projects with greater flexibility.
- With the new Fallback Solution in SuiteCommerce Instore, you can now track sales records even when the Point of Sale System is offline.
- You can now use Cross subsidiary fulfillment to streamline order management which helps in processing the orders efficiently within the Global panorama.
- Order management can be streamlined by centralizing processes related to order entry which will simplify external transactions and direct fulfillment against sales orders with Cross Subsidiary Fulfillment.
- New functionalities have been added which helps in customizing Bill of Materials (BOM) components and revisions.
8. Updates to the SuiteCloud Platform
- A new update in Workflow customization helps the users to execute workflows on item subset line without the need of making changes to the code manually.
- To enhance the overall experience, the processing powers of servers has been increased significantly with the help of additional SuiteCloud Processor which enhances the parallel processing capability of scheduled scripts.
- Current features have been updated in such a way so as to increase the refreshing speed of sandbox and reduce the SuiteCloud downtime to “0” which can ultimately help in enhancing the user experience over a longer period of time.
If you have any queries related about the 2018.1 update or your NetSuite Implementation, you can always ring us at +91 40-64591232 or mail us at email@example.com.