What to Expect in NetSuite's 2017 Release 1

     

NetSuite 2017 Release

Come May 2017, Singapore companies can expect to see the launch of NetSuite's Version 2017 Release 1. It's the first major NetSuite release under the Oracle family of products (Oracle acquired NetSuite in 2016) for the 40,000+ organisations running NetSuite worldwide.

If you've never seen NetSuite in action, check out the 7-min video below. The video highlights a few areas in NetSuite's financial operations which NetSuite users find beneficial over basic financial tools. You'll also see invoice creation, how it prints, how it affects the GL, and how you can apply cash. From there, you'll see how the invoice impacts financial reports and multi-entity consolidation.
 

 
With NetSuite's 2017 Release 1, you'll get:

  • Global financial capabilities for regulatory-compliant GL management across multiple currencies and subsidiaries.
  • Upgraded client dashboard and a brand-new vendor dashboard so you can view data, information and KPIs with ease
  • Enhanced supply chain gives superior visibility and inventory control anywhere in the world
  • Improved global security with enhanced two-factor authentication (2FA) (SuiteCloud Platform)
  • Improved developer tools for large datasets; new file streaming API enables developers to read, write, and append files in memory above 10 MB, with custom lists limit raised to 25,000 values (SuiteCloud Platform)
  • Improved saved search results support advanced PDF/HTML templates printing (SuiteCloud Platform)

There are also specific highlights for SMEs in the following lines of businesses:

Software and Internet Organisations

  • Improved revenue management capabilities boost and streamline revenue recognition processes for greater transparency and flexibility
  • New vendor dashboard gives you access to a wide variety of vendor data and metrics, so you stay on top of your vendor relationships
  • Enhanced fixed assets management for smarter asset creation. This also improves usability and reduces processing time

Retail Organisations

  • New ecommerce capabilities with store pick up, promotion engine, and order fulfillment. This lets you seamlessly create channel-agnostic personalised shopping experiences
  • Faster productivity and decision-making with all-new vendor dashboard and improved customer dashboard, which easily deliver the data, information and KPIs you need
  • Enhanced supply chain and inventory management for more efficient and accurate inventory tracking

See how one of our Retail Clients benefited from NetSuite here

Manufacturing Organisations

  • Improved supply chain gives you enhanced visibility and inventory control, anywhere it's held
  • Optimised user experience and effectiveness through improved order management processing
  • Enhanced CRM capabilities for your users to resolve customer issues quickly, through better managed response and resolution commitments

Service Organisations

  • Enhanced revenue recognition capabilities streamlines revenue recognition for projects. This also provides superior control and efficiency in supporting more common revenue models
  • Enhanced charge run update improves performance and usability for global customers
  • New and customisable project profitability report enables you to tailor reports based on your specific need for better insight and improved performance

Wholesale Distribution Organisations

  • Improved WMS during wave release process, streamlined fulfillment flows, and better customer process design for enhanced performance
  • Enhanced mobile application usability for greater flexibility
  • Faster productivity and decision-making with all-new vendor dashboard and improved customer dashboard so you stay on top of your vendor and customer relationships
  • Enhanced supply chain provides unparalleled visibility and control of your inventory, regardless of where it is being held

Non-Profit Organisations

  • Improved revenue management capabilities boost flexibility and transparency in revenue recognition while streamlining the process
  • New customisable project profitability report lets you tailor reports based on your specific needs
  • Enhanced fixed assets management enables smarter asset creation, improves usability and reduces processing time

Advertising, Media and Publishing Organisations

  • Improved revenue recognition capabilities helps streamlines your project revenue recognition, while offering greater control over more common revenue models
  • Enhanced charge run update improves performance and usability for global customers
  • New customisable project profitability report enables you to design reports for your needs, giving you better insight and improved performance

When Can I Buy NetSuite 2017?

If you're already using NetSuite, you don't need to worry about purchasing upgrades. Your NetSuite upgrades are always automatic, and are normally provided twice a year  April/May and September. There's no downtime either; the upgrades are often conducted late at night (in your local time), leaving you ready to start the new working day with an upgraded ERP system.

It's one of the key benefits of having a cloud-based ERP software. Cloud ERP systems are typically based on a single, standards-based code base which allows the provider (e.g. NetSuite) to use a managed version upgrade process with minimal disruption. Once your Cloud-based ERP software is upgraded to the latest version, all your customised components are seamlessly carried over without you or your vendor having to perform painful code retrofitting.

As of this time of writing, NetSuite 2017 Release 1 is slated to be available in Singapore in May 2017. To learn more about NetSuite 2017 Release 1 or about NetSuite  touted as Singapore's #1 Cloud Business Solution Suite  itself, give us a call or leave a message for us here, and one of of our NetSuite consultants will get back to you shortly.

About The Author

Alythea is the Marketing Manager at AFON, where she covers marketing strategy and communications. Alythea also writes on workplace productivity, and is a certified solutions focused coach.