New Features for NetSuite

NetSuite has released the details of the NetSuite 2020.2 release and as always there are some big opportunities on the horizon.  Some of the highlights include:

  • Invoice grouping which will allow consolidation of multiple invoices into a single invoice for your customers. Payments can also be applied to groups or individual invoices.
  • Allowing bank reconciliations to automatically create and post entries to reduce manual efforts.
  • Intercompany cross charge automation will allow the setup of automatically posted cross charges between subsidiaries.
  • Auto-generated netting settlements for intercompany receivables and payables will also assist with reducing manual efforts.

The updates as always extend into each vertical and function, take a look at the list below, if you determine any of these features present an opportunity, please reach out, GSI is always happy to assist.

SuitePeople – A major addition here in that performance management will be added, allowing companies to perform and track their review progress against goals.

Supply Chain Management – Clients with NetSuite SCM will see significant upgrades with a major overhaul to demand planning to improve the look and usability, and provide tools like the new planning workbench to planners.

Manufacturing – Several updates around the AM module like allowing quality inspections to be triggered by production results and intelligent predicted risk extended to sales orders.

Warehouse Management – Primary upgrade is that WMS will no longer require bins, smaller organizations and warehouses are no longer required to deal with this level of detail.

Service – Additional Project Manager notifications, budgeting tools, and the Sequential Liability SuiteApp, providing a way to monitor paying vendor bills based on receiving customer payment.

In addition, 2020.2 will see the addition of several development layer and ecommerce upgrades as well.  As always, NetSuite continues to refine their offering creating more value and capability for customers!

GSI, Inc. specializes in providing a broad range of NetSuite consulting services, including NetSuite implementation servicesNetSuite managed services & more! Please reach out below if we can provide any assistance!