NetSuite 2019 Release 1

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).