NetSuite 2019 Release 1

NetSuite 2019 Release 1

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NetSuite is investing a lot in the enhancements, this year they have been announcing Version 2019 Release 1 of its business management suite. Some of the below highlights of this release:

  • Launching SuiteAnalytics Workbook – a new and powerful way to make informed decisions by exploring and visualizing your data and integrating insights into the redesigned dashboard.
  • Easily manage complex domestic and global tax calculations with new SuiteTax and VAT capabilities.
  • Enhance SuiteCommerce webstore with new extensions including new feature categories, product feeds, size charts and best sellers.
  • View SuiteCloud Platform and industry feature highlights for Software, Retail, Manufacturing, Services, Advertising, Media and Publishing, Wholesale Distribution companies, General Business and Nonprofit organizations.

Feature highlights for Retailers:

  • Enhance SuiteCommerce webstore with new extensions including new feature categories, product feeds, size charts and best sellers.
  • Maximize sales potential and optimize profitability with dynamic customer groups and targeted promotions.
  • Gain better insight and visibility into supply chain with supply chain snapshot enhancements.

Feature highlights for Software and Internet companies:

  • Easily manage complex domestic and global tax calculations with new SuiteTax and VAT capabilities.
  • Manage payments efficiently with new installment terms on bills and invoices.
  • Gain compliance with new lease accounting standards ASC 842/IFRS 16.

Feature highlights for Service companies

  • Generate new business, improve productivity and manage project pipeline with Project Creation from Opportunities and Estimates.
  • Enhanced Global Project support for employee Foreign Currency Expense Report reimbursement.
  • Faster assignment of project teams with Resource Groups and resource management enhancements.

Feature highlights for Wholesale Distributors

  • Gain more flexibility in classifying labor-intensive industry workforce with Employee Type Categories and support for Hourly Time-Off Accruals.
  • Gain better insight and visibility into supply chain with supply chain snapshot enhancements with improved support for multi-subsidiary businesses.
  • Enhance SuiteCommerce webstore with new extensions including new feature categories, product feeds, size charts and best sellers, and user specific B2B carts.

Feature highlights for General Businesses

  • Easily manage complex domestic and global tax calculations with new SuiteTax and VAT capabilities.
  • Gain better insight and visibility into global supply chain activity with improved support for multi-subsidiary businesses in the supply chain snapshot.
  • Benefit from Core HR enhancements, support for support for hourly/contingent workforce and more control and flexibility with payroll.

Feature highlights for Nonprofit organizations

  • Improve period close with enhanced Multi-Book Accounting features.
  • Control spend with books specific budgets and new approval workflows for bills and vendor payments.
  • Manage pledges and payments efficiently with new installment terms on bills and invoices.

Feature highlights in the SuiteCloud Platform

  • Ensure international document exchange compliance with Digital Signing API.
  • Improve and strengthen security with support for mutual HTTPS authentication and 2FA for highly privileged roles.
  • Easily transfer a Custom Object from one NetSuite account to another using new Copy to Account (beta).