Our inaugural Annexa on Tour took on 4 cities in one and a half weeks, providing our Australian and New Zealand customers with an insightful exploration into the latest innovations and capabilities available in the NetSuite ecosystem. For those who couldn’t attend, this recap covers the key topics and solutions, including why these developments are crucial for current NetSuite users.
2023 release updates recap
Guided Learning: NetSuite has introduced a new preference feature to help new users navigate their roles and specific pages more effectively.
Suite Answers 2.0: It’s here, now with a chatbot and an abundance of additional content.
360 Analysis: It’s continuing to develop from its original place on the item, supplier, and customer record. There are now standalone dashboard apps for projects, cash, and items. There are a number of other new enhancements being rolled out so it’s worth checking these dashboards for yourself.
Ship Central: The original pack station has been replaced, revamped to streamline the entire pick, pack, and ship process, making it more efficient for both WMS and non-WMS users.
Manufacturing Mobile: More features have been added to the SCM application, including standalone assemblies, custom field options, and componentry improvements introduced late last year.
Transaction Lines: This is a new app for seamless cost distribution at the time of invoicing.
Generative AI integration with NetSuite
NetSuite’s SuiteWorld announcements largely centred around the incorporation of generative AI within NetSuite, and it’s clear this is part of a long-term strategy to support ongoing growth. You can read the full recap over here. But there’s a few we covered in some detail.
NetSuite Analytics Warehouse (NSAW)
NSAW has been on our radar for a couple of years. In fact, Annexa actively participated in the Beta program for its ANZ release. Many prospects still rely on data extracts from various systems, with a sole resource manually consolidating this data monthly or bi-monthly to assess the company’s performance. We know this is slow, but it’s also costing potential opportunities, in addition to the data preparation costs.
NetSuite’s data warehouse is hosted within state-of-the-art OCI facilities and comes equipped with an advanced analytics layer driven by AI/ML, all wrapped in a user-friendly interface.
NetSuite now offers an out-of-the-box connector that seamlessly transfers all NetSuite data to the warehouse. There are also connectors for numerous third-party data sources, with the flexibility to connect to even more based on your specific requirements.
Additional updates scheduled to roll out over the next 12 months include:
- More frequent data refreshes and the ability to schedule data refreshes by frequency and time
- New line-level details for sales orders and inventory analyses
- Single Sign-On (SSO) to NetSuite and NSAW
- Role-based access to dashboards, enabling a tiered view of data
While it’s still early days implementing NetSuite Analytics Warehouse, we’ve had plenty of interest from customers. Here’s a snippet of our chat with Shae Young, CFO at Smithbridge Group, on why they opted for NetSuite Analytics Warehouse.
[Add Smithbridge video in]
“We were looking for something that would integrate with a number of different systems. One of the key drivers for us moving forward was being able to empower our finance teams to create comprehensive reports and provide management with accurate and timely information in a way that’s easily digestible.”
– Shane Young, CFO, Smithbridge Group
TL;DR
- Handling large data sets from numerous sources: NSAW has the ability to handle large data sets efficiently and combine data from multiple platforms.
- User-friendly data analysis tools: Its user-friendly interface allows for easy creation and manipulation of dashboards, making data analysis more accessible.
NetSuite Planning & Budgeting (NSPB)
NSPB gives businesses advanced forecasting and budgeting tools, enabling efficient financial planning and strategic decision-making within the NetSuite ecosystem. Like NSAW, it’s sparked a lot of interest among our customers—every organisation needs effective planning and forecasting tools. With NSPB, NetSuite customers can now access an enterprise-level, state-of-the-art planning tool, move away from manual spreadsheets, and get AI working for them.
Now, with NetSuite, customers can access a top-tier, enterprise-level planning tool, transcending the limitations of manually shuffling spreadsheets across departments. This advancement empowers businesses to leverage AI for strategic benefits beyond just receiving targeted advertising.
The integrated out-of-the-box connector efficiently transfers all structures, charts, segments, and actual data into the planning module. Our collaboration with Pivot2 Solutions, our strategic partner, has been instrumental in delivering this exceptional product.
TL;DR
- Risk mitigation: Reliance on Excel, especially when limited to a few knowledgeable individuals, poses risks. NSPB offers a more controlled environment.
- Comprehensive features: NSPB provides intuitive navigational flows, powerful driver logic, and project and CapEx management capabilities, far surpassing Excel’s functionalities.
NetSuite WMS (Warehouse Management System)
NetSuite WMS optimises warehouse operations, offering features like real-time inventory management, efficient order fulfilment, and seamless integration with NetSuite’s ERP system. Several enhancements are coming to the platform, each promising to increase efficiency, accuracy, and flexibility in inventory management.
- Multi-level kit picking: Enables different components of a kit to be allocated across multiple pick tasks, facilitating efficient picking of numerous kits simultaneously.
- Enhanced wave management: Warehouse staff now have the flexibility to release tasks for orders that are yet to be waved, enhancing the workflow and efficiency in order fulfilment.
- Bin blocking: This functionality allows staff to report and provide reasons for empty bins, integrated within the reporting options for better inventory management.
- Mobile application enhancements:
- Restock option: Facilitates easy restocking of items.
- Transfer all in bin transfer: Simplifies the process of transferring all items in a bin.
- Partial pick automation: Introduces a complete pick option in the menu for new pick tasks, optimising the picking process.
- Bin reversal: Enables items to be returned to a different bin than the one they were picked from, adding flexibility to warehouse operations.
TL;DR
- Increased efficiency in warehouse operations: The new features in NetSuite WMS, such as multi-level kit picking and enhanced wave management, streamline the order fulfilment process and improve workflow flexibility, leading to faster and more accurate order processing.
- Enhanced inventory management and responsiveness: With capabilities like bin blocking and mobile app enhancements, the system offers real-time inventory tracking and greater adaptability in inventory management, ensuring a more responsive and efficient warehouse environment.
NetSuite Connector for eCommerce
The NetSuite Connector for eCommerce, an acquisition by Oracle a few years back, offers a specialised module that seamlessly integrates NetSuite with various eCommerce platforms, as well as some point-of-sale and logistics systems. The connector ensures that critical information like inventory levels, customer details, order statuses, and product information is consistently updated and accurate across both NetSuite and the eCommerce platform. Plus, it’s tiered to suit different data flow requirements.
TL;DR
- Simplified integration: Offers an easy-to-activate solution for integrating a single web store directly with NetSuite, ensuring a seamless data flow.
- Scalable solutions: For businesses with more complex needs, such as multiple stores or operations across various markets, the Celigo connectors provide a more robust and scalable solution.
Innovation at Annexa in 2023
The addition of generative AI in NetSuite has ignited the team here at Annexa, so we took the time to discuss the marriage of AI and Cloud ERP and its impact on customers.
AI is increasingly being seen as a tool to enhance, rather than replace, workforce capabilities. In finance, for example, AI is being used to streamline operations, reduce manual errors, and offer intelligent recommendations. It’s also valuable when it comes to analysing large data sets for predictive analytics and forecasting. This is crucial for businesses in terms of planning and strategising, as AI can uncover trends, predict market changes, and provide insights that may not be immediately evident.
ChatGPT for NetSuite by Annexa
We’ve also been busy making use of AI too. We are actively exploring the integration of AI through the development of a custom ChatGPT bot within NetSuite. This bot is designed to assist users in various tasks, such as generating sales reports, simplifying complex data queries, and even writing code for specific NetSuite functions.
AI-enhanced coding and script writing
We are also looking at leveraging AI to assist in coding and scriptwriting within NetSuite. This involves using AI tools to generate code or automate parts of the development process. While still in the experimental stage, this initiative aims to reduce the time and effort required for custom script development and improve efficiency in problem-solving and support ticket resolution.
For all our AI experimentation, the focus is on practical applications that directly benefit our customers. This includes creating tools that not only automate tasks but also provide actionable insights and assist in strategic decision-making within NetSuite.