What you need to know about NetSuite 2020.2…

Are you ready for NetSuite’s latest release? Annexa have put together a list of highlights for your industry to ensure you’re prepared. The release will be conducted on a rolling basis from August 2020, to October 2020. To find out when your upgrade will occur, login to your NetSuite dashboard and check out the new release portlet to learn more about your upgrade date. Also, see thoverview ofenhancements and feature changes in NetSuite 2020.2 

Industry Specific Enhancements 

Wholesale distributors  

  • Multiple invoices can be consolidated into a single invoice for the customer and allows payments accepted at the group level to be applied to individual invoices.  
  • Enhanced Quality Management SuiteApp allows stock to be received, transferred and picked inside a location without bins.  
  • SuiteCommerce Sign Up extension allows wholesaler customers to gain access to purchase from your eCommerce store 

Learn more about the Wholesale Distribution enhancement and feature changes in NetSuite 2020.2 

Manufactures 

  • NetSuite’s new material requirements planning will enhance accurate decision making for planners across release orders, supply allocation and more. 
  • Enhanced Quality Management SuiteApp allows stock to be received, transferred and picked inside a location without bins.  
  • Intelligent Predicted Risks now include sales orders, providing users with greater insight into potential risks on goods not shipping on time 

Learn more about the Manufacturing enhancement and feature changes in NetSuite 2020.2 

Retailers 

  • Optimised view of performance tools and automated tools for greater visibility of online store performance. 
  • Merchandise Hierarchy Workbook enables analysis of items, inventory, sales, and fulfillment data with pre-built customizable KPIs and reports 

Learn more about the Retailenhancement and feature changes in NetSuite 2020.2 

Services 

  • New project manager notifications identify activities, project status and potential issues on a project for faster resolution. 
  • Use the Work Breakdown Structure to calculate revenue budgets based on quantity and rates pulled in from rate cards, items and billing classes to achieve more accurate budgeting.  

Learn more about thService enhancement and feature changes in NetSuite 2020.2 

Not for Profit 

  • Create statements of financial position (balance sheet reporting) on a custom segment—most commonly fund, grant, or program 
  • SuiteSuccess Social Impact Editions allow nonprofit organisations to allocate labour expense costs to programs, projects or grant segments 
  • Automatically create and post transactions directly from imported bank data 

 Learn more about the Not for Profitenhancement and feature changes in NetSuite 2020.2 

Find out more 

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 ‘Personalise’ and locate the ‘New Release’ icon and add it to your dashboard. 

How should you be preparing? 

We recommend using the release preview environment to test all customisations, integrations, workflows and general business processes that may impact your day to day operations.  To access Release Preview accounts, 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 2020.2. The Account Administrator will receive an email notification as soon as your account is available and ready to use. 

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, including conducting training sessions if required.  

For assistance regarding the considerations, testing, new feature demos or any queries please contact support@annexa.com.au or via 1300 994 550 

The 2020.2 Release notes below 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!