The Annexa team hosted an informative webinar this week for the distribution industry, covering ‘A cure for quote to cash inefficiencies.’ We had Matthew Owens (Director Sales & Marketing) dive deep into the trends effecting the industry and Bart Wadley (Solution Architect) demonstrate an efficient, automated Q2C process in NetSuite.
In case you missed it, you can check out the full webinar below or download the guide to see the trends, challenges and solutions for the distribution industry in 2020!
Download the guide below
Coming up… Part 2: Mastering Inventory Management with ERP
COVID-19 is making work from home a new norm. We share with you our strategies and tools to keep employees engaged and productive while working remotely.
Having a best practice work from home plan in place for unexpected global events can alleviate concerns in your workplace and ensure operational continuity. In some cases, it may be necessary for your team to work remotely, in which case a crisis management plan is critical to ensuring your operations run as smoothly as possible.
Below is an overview of measures your business should consider to ensure you are prepared for unexpected circumstances and remote work in general.
1. Email, document storage & collaboration: Ensure all your important files stay secure and accessible to your team Recommended tools:
As your NetSuite partners, we have gone ahead and put together a comprehensive list of highlights for your industry to prepare you for the release.
Among the new powerful features are improvements to financial and operational excellence and extended capabilities to the Supply Chain Tower Control.
Financial and Operation Excellence
Custom transactions allowing organisations to create their own unique transaction types to cater for all business processes
Introducing enhanced revenue trace-through and bulk updates for subscriptions
Improved visibility and insight into revenue allocation allowing organisations to clearly understand which offerings are incomplete or fully billed
Supply Chain Tower Control
Now provides intelligent predictions and simulations on transfer order risks and recommended actions that will proactively optimise your supply chain
The new SuiteAnalytics Supply Chain Workbook provides a way to efficiently analyse supply chain imbalances
Efficiently work with outsourced manufacturing by automatically creating work orders when placing a purchase order for contracted manufacturer activities
Meet delivery promises by automating the re-allocation of inventory when supply is constrained with new supply allocation exceptions capabilities
The ability to schedule automatic creation of fulfilment requests to simplify supply allocation while predictive analytics can determine what deliveries might be at risk for a delay and make recommendations
See the overview of enhancements and feature changes in NetSuite 2020.1
Industry Specific Enhancements
New Supply Chain SuiteAnalytics Workbook can be used to efficiently analyse supply-demand imbalances
Optimise on-time delivery with order allocation exceptions management. Automatically analyse incoming inventory and take use of the automatic recommendations to re-allocate orders
With the Supply Allocation engine, fulfilment requests can now be automatically created when the expected ship date is reached, greatly improving service levels and customer satisfaction
GS1 barcoding standards are now supported with NetSuite’s WMS mobile app, making warehouse operations more efficient
If you’re using third parties to manufacture products, you can now automatically create work orders from purchase orders!
Proactively address supply chain risks with intelligent insights on transfer orders. The new SuiteAnalytics Supply Chain Workbook provides a way to efficiently analyse supply chain imbalances and highlights orders which may be at risk
The introduction of order allocation exceptions management alerts users to orders that may be delivered late due to their current allocation
The new manufacturing mobile app increase shop floor productivity and helps to enable a paperless shop floor
Learn more about the Manufacturing enhancement and feature changes in NetSuite 2020.1
Enhanced visualisation features of the merchandise hierarchy tree make it easier to manage large hierarchies
Delivery delays are a constant problem for retailers. Extended capabilities of the Intelligent Predicted Risks functionality now takes transfer orders and compares them to historical data to determine when a delivery may be at risk
Automate the re-allocation of inventory when supply is constrained with supply allocation exceptions using the Order Allocations Exceptions feature
Learn more about the Retailers enhancement and feature changes in NetSuite 2020.1
Enhancements regarding automation and flexibility which will assist in tracking and maintaining project health
Time tracking enhancements allow for better control over billable time. Time entries can be easily modified. NetSuite Analytics has also been introduced for time modifications, improving visibility over changes
Automate the calculation of costs in project budgeting based on the resources assigned. Cost graphs change dynamically as budgets are entered, modified and compared against actual transactions
Introducing flexibility to support numerous bonus types, such as spot, referral, merit or custom to allow for increased visibility over incentive pay
Learn more about the Services enhancement and feature changes in NetSuite 2020.1
Not for Profit
SuiteApprovals of requisitions provide non-profits with tighter control of their spending, and the custom approval chain routes documents for review
Custom transactions allow organisations to create their own unique transaction types, such as pledge write-offs for non-profits
Enhancements to project budgeting process including; customisable work breakdown structure within budgets, activity codes to track costs against all projects, Re-budgeting now supported with Advanced Project Budgets
Learn more about the Not for Profit enhancement and feature changes in NetSuite 2020.1
Want more information?
The Annexa Team is offering training for the new features, enhancements and functionality introduced in 2020.1. If you’d like to find out more, or schedule a training session please firstname.lastname@example.org
We have included some additional documents below; The 2020.1 Release notes provide a comprehensive list of all the upcoming changes. If you’re interested in any of these features you may review the Feature Previews page to learn more!
What you need to know
To find out more about the new release, log into NetSuite and open the Release Portlet. If your release preview portlet is not available on your dashboard; Click ‘Personalize’ and locate the ‘New Release’ icon and add it to your dashboard.
NetSuite is continuing to use the new opt-in access model for Release Preview accounts in Release 2020.1. An administrator can go to Setup > Company > Release Preview and click Request Release Preview. NetSuite will create an account for you so that you can become familiar with the new capabilities of NetSuite and test your processes before your Production upgrade to 2019.2. The Account Administrator will receive an email notification as soon as your account is available and ready to use.
The release preview environment is available to test new features prior to the upgrade date, this environment is a separate copy of your NetSuite account. This is available from now! Login here – Locate the role with the account type ‘Release Preview’
See the release portlet below:
How should you be preparing?
We highly recommend testing your NetSuite solution prior to the upcoming release. As NetSuite is customised to suit your specific business, testing will identify any changes that may impact your day to day operations.
We recommend testing all customisations, integrations, workflows and general business processes on the release preview environment.
If the Release Preview environment is unavailable, please follow the steps outlined in the section above to request access. If you have any issues with this, please contact our support team.
Refer to the Release Process for a detailed and comprehensive guide on how to setup the test environment and perform testing.
Annexa is here to help!
We understand you may have questions about this upgrade, and we are here to help! Our professional services team are on hand to help with anything you need regarding this upgrade.
For assistance regarding the considerations, testing, new feature demos or any queries please contact Support@annexa.com.au or via 1300 994 550
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You’re invited to join Annexa for an informative 2-part webinar series for distributors.
Learn how to link every step from quote to cash, inventory and financials.
Tune in to our latest webinar series just for distributors. You’ll hear from solution consultants – not sales people – with unmatched experience and knowledge of the wholesale distribution sector. They will walk you through the value of moving from an ageing on-premise system to a cloud based ERP system, and why NetSuite is absolutely critical for meeting your business objectives as you grow and scale.
Part 1: A cure for quote to cash inefficiencies
25th March 2020
1pm – 2pm AEST
Companies that have discovered the power of a modern cloud solution in a tightly integrated suite – complete with a pricing engine, configuration, inventory and collections – have made the Q2C improvements they need in order to stay competitive.
In this webinar, hear from experienced solution consultants who will share how NetSuite’s modern architecture will support your ongoing success and growth.
A zoom link will then be sent to you. Use this link to access the webinar on 25th March.
Multiple studies show that companies are still struggling when it comes to handling inventory management complexities. It doesn’t have to be this way. Discover how a modern, cloud-based ERP system can help you finally tame your inventory and achieve exceptional business results.
Join Annexa’s experienced solution consultants as we reveal what a real-world application of impeccable inventory control looks like.
A zoom link will then be sent to you. Use this link to access the webinar on 22nd April.