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A Deep Dive into the New Features in NetSuite ERP



Some new features and applications have been added recently to its cloud-based NetSuite ERP suite, in an effort to enhance its automation capabilities and compete with midmarket rivals such as Epicor, IFS, Microsoft Dynamics, and Zoho in multiple domains including HR, supply chain, banking, finance, and sales.


We shall have a look at these new features and what they entail, especially for NetSuite ERP users.


SuitePeople


First on the list is SuitePeople, which automates a number of human resources tasks such as wage calculations and attendance tracking. It offers a variety of tools, such as a visual scheduling tool that enables teams to set staffing forecasts, create employee schedule templates, compute labor costs, and set up labor deployment models to build a staffing plan.


There is also a Time Clock tool that not only records time and attendance options but also options for photo capture and biometric fingerprint verification that eliminates the risk of employees logging in and out of work on behalf of other employees


SuitePeople can also automate wage calculations, with its payroll tool able to extract data from other tools such as the aforementioned Time Clock and scheduler for the processing of payroll.


NetSuite Ship Central


NetSuite Ship Central is a mobile application that is part of its warehouse management system (WMS) software suite that optimizes warehouse tasks such as manpower allocation and inventory control. The app itself minimizes shipping costs and transit times.


Accounts Payable Automation


NetSuite’s Accounts Payable (AP) Automation can capture vendor bills using machine learning-based object detection and optical character recognition (OCR). It comes with an automated bill matching feature which ensures vendor bills are two- or three-way matched with the associated purchase orders to ensure details such as unit pricing, quantity, and totals are accurate.


There is also a vendor payment automation feature in partnership with bank HSBC, allowing enterprises to access payment options such as checks or virtual credit cards, among others. Payment reconciliation is also another key feature included, designed to improve the accuracy of accounting with the help of a rules engine that matches and reconciles virtual credit card charges while flagging discrepancies for further review by accounting staff.


NetSuite Configure, Price, and Quote


NetSuite Configure, Price, and Quote (CPQ) are designed to help enterprise sales teams configure, price, and quote complex products accurately and reliably within the NetSuite ERP environment. Its guided selling feature is designed to allow enterprises to find the exact products and services needed from thousands of SKUs by providing e-commerce-like catalog navigation as well as filtering tools. Meanwhile, the configurator feature allows enterprises to save time spent on reworking orders by applying customizable rules that ensure every configuration is accurate across product and service features.


These new features have further enhanced the NetSuite ERP experience, enabling users to do much more and be more productive while also saving time and resources that can be allocated to other vital resources and tasks within the organization.


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