NetSuite’s first release for 2020 is here!

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

Wholesale distributors 

  • 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

Learn more about the Wholesale Distributors enhancement and feature changes in NetSuite 2020.1

Manufactures

  • 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

Retailers

  • 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

Services

  • 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 sales@annexa.com.au

If you have any general questions regarding the release, you may contact support@annexa.com.au

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