Key Takeaways Of Netsuite 2016.2 Release Version And How It Will Impact the Businesses In 2017 ?

Introduction:

NetSuite’s second release of the year 2016 which is 2016.2 updates sharing a number of “suite” improvements to NetSuite’s business management features and functionality.

The New release highlights from new Suite Billing capabilities to SuiteCloud and SuiteApp customizations.There are typically some improvements that are exciting enough to learn and share.

As a certified NetSuite Solution Providers that specializes in distribution, We at Bista believes that following are the key takeaways of NetSuite 2016 Release 2 which will definitely have an impact on the Businesses.

The purpose of this blog post is to help identify some key takeaways that exist in NetSuite 2016.2 which can provide a high-level overview so as for why they might be important to your organization.

Here is the preview of feature highlights available in NetSuite Release 2.

ACCOUNTING: SUITEBILLING – SUBSCRIPTION BILLING:

• Robust New Subscription Billing Functionality, helps working seamlessly with revenue management to recognize revenue, also provides revenue arrangements ensuring correct revenue recognition.

• Flexible rate plans allowing to use usage-based rate models or Use Transactions.

• Seamless billing module will allow users to manage and invoice subscription services from one spot based on a usage or recurring transaction model.

• The enhancements made in Accounting module considers a new feature of Quick close on multiple periods with a simple click of a button.

• Also, the Statutory Chart of Accounts simplifies local accounting reporting requirements for international businesses

DASHBOARD SUITEAPPS

• Personalize the suite/dashboard user experience

  • Easy discovery of installed SuiteApps

  • One click /drag-and-drop to add

• Convenient suiteApp ‘entry point’

  • Key summary metrics

  • Simple actions

  • Quick navigation

• Easy for developers to create

  • Include a custom portlet, Script 2.0

  • Set as Dashboard SuiteApp on script

  • deployment

  • Upload an app icon

DASHBOARD REMINDERS ENHANCEMENTS:

• Headline Reminders

  • Display key reminders prominently-larger, at the top

  • Drag and drop to reorder

• Reminder Highlighting

  • Color-coded, multiple thresholds per reminder

  • User configurable

• Redesigned Reminder setup screens

• Home dashboard not only provides additional material to prepare your business for the new release and familiarize yourself with the changes, but it also displays when your NetSuite instance will be upgraded to higher versions.

NETSUITE MOBILE MORE CONTROL AND FLEXIBILITY

• New Release possesses End to end mobile approvals management having my Approvals portlet along with purchase orders and expense reports.

• Also consisting Drill down from list pending approval, or individual notifications (iOS only)

• The feature indeed provides an Optimized user experience for reviewing expenses receipts and purchases.

IMPROVED ACCESSIBILITY AND CONTROL OF CUSTOM FIELDS AND CUSTOM SEGMENTS:

• Take control of your merchandising hierarchy

  • Custom fields and item options can be applied to individual items

  • Optionally cascade custom fields to child items

• Improved User Interface navigation to custom segments

  • Custom segments are placed as a Classification for easier navigation

INVENTORY & ITEM MANAGEMENT:

• Bin Management by Location simplifies operations by defining warehouses on a per-location basis instead of across the board and reduces inventory costs.

• Ability to edit in-process work orders to remove, add, or change assembly components

CUSTOMER RELATIONSHIP MANAGEMENT:

• NetSuite 2016.2 includes the following enhancements to CRM features which will enhance more flexibility:

  • Spam Protection for Support Case Email Messages

  • Deprecation of CRMSDK Functions

  • Automatic Conversion of CRMSDK Email Templates

  • File Cabinet Folder Renamed

SUPPLY CHAIN MAKE INFORMED DECISIONS WITH ESTIMATED LANDED COST:

• It automatically applies the landed cost also improving decision making with new estimated landed cost

• Discover the true cost of a product thereby getting insight into financial performance for the businesses.

The enhancements will provide great Flexibility and control in managing the supply chain of the businesses.

• Added Flexibility and improved accuracy in processing transfer orders will reduce data entry and errors for Cost Accountants.

• Flexibility, productivity, and Increased Control while managing on-hand inventory will lead the businesses in 2017

• Having more time to handle exceptions

• Reduce manual processes

• Schedule commitment of inventory against more attributes.

How can BISTA help with the Release 2016.2 upgrade?

We at Bista helps you how to leverage these feature enhancements to better manage your businesses.You can mail us at sales@bistasolutions.com and for any feedback or concern, you can write back to us on feedback@bistasolutions.com.