In the Zone

NetSuite November Update

As November 2024 unfolds, Oracle NetSuite continues to deliver groundbreaking updates to empower businesses. This month’s enhancements focus on driving automation, improving analytics, and offering even greater flexibility for global operations. Here are the highlights of the latest updates:?

AI-Driven Enhancements for Accounts Payable Automation?

NetSuite has introduced cutting-edge AI tools to further automate the Accounts Payable (AP) process. These tools leverage machine learning to simplify invoice processing and payment approvals, minimising errors and reducing manual workload.?

Key Highlights:?

• Intelligent invoice scanning with auto-populated fields?

• AI-powered duplicate invoice detection?

• Automated approval workflows with customisable parameters?

Expanded Multinational Financial Compliance Tools?

As businesses expand globally, staying compliant with local financial regulations is critical. NetSuite’s November updates bring improved tools for managing compliance across multiple regions, ensuring businesses can adapt to international tax and reporting requirements seamlessly.?

Key Highlights:?

• Enhanced support for EU VAT compliance updates?

• Real-time tax reporting in Asia-Pacific regions?

• Automatic generation of localised financial reports?

New Features for Subscription Management?

In response to the growing subscription economy, NetSuite has enhanced its subscription management module. Businesses can now manage recurring revenue streams more efficiently, with tools to track customer lifecycle metrics and improve retention.?

Key Highlights:?

• Real-time churn analysis and subscription health metrics?

• Enhanced billing flexibility for tiered pricing models?

• Improved dashboard for subscription revenue tracking?

Optimised Inventory and Demand Planning?

November also brings updates to inventory management and demand planning capabilities. These enhancements empower businesses to optimise stock levels, reduce wastage, and meet customer demands with precision.?

Key Highlights:?

• AI-driven demand forecasting based on historical trends?

• Dynamic safety stock adjustments to minimise stockouts?

• Improved visibility into supplier lead times and delivery performance?

User-Centric Design Updates for the NetSuite Mobile App?

NetSuite has rolled out a more intuitive interface for its mobile app. These updates ensure users can access vital business data and complete tasks seamlessly, anytime and anywhere.?

Key Highlights:?

• Enhanced dashboard customisation options for mobile?

• Streamlined navigation for quick access to key functions?

• Push notifications for approvals, updates, and alerts?

Strengthened CRM Features for Customer Engagement?

This month’s updates also bring improved Customer Relationship Management (CRM) features, helping businesses better understand and engage with their customers.?

Key Highlights:?

• Advanced segmentation for personalised marketing campaigns?

• AI-driven customer behaviour predictions?

• Integrated analytics for tracking campaign ROI?

SuiteWorld 2024 Recap

Bigger. Better. AI everywhere. This year, we welcomed more than 7,500 attendees to Caesars Forum in Las Vegas and thousands more On Air. We announced a fresh lineup of AI-powered capabilities, a new, modernized Redwood user experience, impressive customer growth stories, and more.

Key Highlights:?

?New AI features to help customers reduce risks, make better decisions, and interact with data in new ways to gain more value from the suite.

?Expanded NSAW AI capabilities that leverage Oracle technologies so customers can analyze data and grow faster.

?More EPM AI innovations to enable finance teams to accelerate reporting, extract insights, and improve decision-making.

?The new AI-powered SuiteProjects Pro will help optimize project resources and delivery, helping customers achieve their goals and improve profitability.

NetSuite OpenAir 2024?

Much of services organizations' objectives come down to optimizing project delivery and limiting project planning mistakes to protect margins and maximize customer satisfaction. Doing so requires accurate, accessible information and applications that can help these businesses run their operations better through automation and intelligent tools that allow for more precise business and project planning.?NetSuite OpenAir customers continue to receive new features and functionality twice a year to help them deliver on these goals. NetSuite OpenAir 2024 Release 2, the second new release of the year, introduces the Redwood design system, providing a more modern user experience that makes it easier for services professionals to get their work done efficiently. This new experience is a key component of OpenAir evolving into NetSuite’s next-generation professional services automation (PSA) solution.?Enhancements designed to boost the user experience include an all-new homepage and global search, enhanced to-do lists to help teams stay on top of numerous projects, and easier navigation that lets services professionals complete key tasks faster.?Read more?here.?

NetSuite Product Updates?

Below is a summary of recent product related news that we wanted to make you aware of.?

Effective October 15, 2024, there was a price change for?NetSuite?Analytics Warehouse, an AI-enabled cloud data warehouse and advanced analytics solution prebuilt for?NetSuite.? This price change affects the Premium and Enterprise Service editions only. The Standard edition price will not change. Estimates for new business or renewals created on or after October 15th will require the new list price. Estimates created before this date require the historic list price.? ??

A grace period will be offered through November 30, 2024, for any existing deals in flight where pricing was already discussed.?

CloudZone One Holiday Period

Please note that CloudZone One will be closed for the holiday period from 20th December 2024 to 13th January 2025. During this time our Support Team will be available. The rest of our team will be back to assist you after this period. Thank you for your understanding, and we wish you a joyful holiday season!