Everything You Need to Know About NetSuite 2022.2 Release
What does any enterprise need in today’s burgeoning data economy where business intelligence and cloud-enabled technology are making the world spin on its axis? One, consistency in delivering automation of the highest standard across your business for seamless enterprise resource planning, and two, diligent updates which helps your business thrive in a crowded marketplace where agility is everything. If the first release at the beginning of 2022, focused on efficiency, visibility, improved performance management and quicker payment processes, the latest release is teaming with improvements across the board. From Smart Count that is an automated cycle counting solution, and faster information processing on a unified Item 360 dashboard, to enhanced iOS mobile app and CRM add-on features which includes sales force automation, marketing automation, and customer service as well as Suite Analytics, everything your small and medium enterprise or fast-growing business needs has been updated.
With consistent innovation it is not surprising that an international survey of ERP users indicated that 64% of companies use SaaS, while 21% used cloud ERP. Furthermore, in a market share analysis study conducted worldwide by Gartner in 2019, it was found that the ERP software market had grown by 9% from the year before with market size nearing $39 billion. According to a predictive study on the other hand, the software market size was valued at $45.8 billion in 2022, and is expected to grow by $90.63 billion by 2029. While this continuous adoption of cloud-based technology might have been strengthened by the need for digital transformation strategies for market growth that Covid-19 ushered in according to some experts, however, proof is in the tech that continues to win over all industry types. And in this systemic adoption, NetSuite as the inevitable leader continues to support multiple channels of business. Plus, with a trusted partner like Aarialife Technologies to power NetSuite, no reason for your business to not elevate to the next level.
Here, for those who have already made the switch and those looking for that all important nudge, this is what’s in store for you in NetSuite 2022.2 Release.
Simplified management of NetSuite financials
Thanks to an all-new rebate and trade promotions SuiteApp save time and increase efficiency by ensuring everything from creation, accrual, execution, to reconciliation is automated. The categorization of expenses and revenue further ensures everything is quantified and recorded, improving reporting and visibility. You can even create budgets for various accounts, with an added capability that allows you to connect to Shopify.
New additions to NetSuite inventory management
With everything unified in an easy-to-access dashboard, inventory planning and management becomes less daunting to map, especially when it comes with cycle count that would wary according to specific SKUs. How does Smart Count help you? Well, it automatically triggers the count that needs to be performed in order to check accuracy of the data available. With inventory management made less daunting as information is put streamlined in one place, the addition of new Item 360 dashboard makes inventory planning helps assist in keeping track of projected stock levels with frequent alerts for anticipated shortages.
NetSuite supply chain management gets upgraded
Visualisation takes front and center with changes within NetSuite MRP giving planners the option to see projected inventory levels in the form of graph, instead of regular table formatting. The upgrade also supports clearing of back orders more efficiently with the NetSuite warehouse management system displaying details on the order line, while supporting over-picking of parts and materials.
CRM tailored to the growing needs of your business
Expanding its CRM capabilities to provide a unified home for all your business needs, the dashboard now comes specially tailored for sales representatives, marketing managers, and customer service teams to optimally use SuiteAnalytics Workbooks. Measure sales performance as you personalise user experience and boost cross-team communication. The automated multichannel marketing campaigns need a single source for prospective and customer data and provide studied insights into campaigns—something you will see plenty of in NetSuite 2022.2 release. Prep your business for timely and satisfactory resolutions to shared experiences in your team.
Enhanced analytic visualisation and customisation
Expect cutting down of technical hurdles and additional costs with relevant data sets that help simplify custom data management. Expanding the existing collection of pre-built subject matter data snapshots and key metrics that help you add efficiency and flexibility, NetSuite Analytics Warehouse Release 2 works on expanding vertical functionality. What’s more, there are now six data visualisation canvases on charges, with new charge stages and forecasts in weekly and monthly views, plus, 11 data visualisations on spend including spend analysis, supplier spend and spend overview.
NetSuite Mobile App gets a reboot
Stay mobile and updated at all times with NetSuite on the go for your iPhone and android. There are a host of things you can get done via the app—manage expenses and attach copies of receipts; manage NetSuite calendar; monitor key business information with support for select employee center dashboard portlets and home; attach, edit and view files to record; and even log outbound and inbound business calls from your device, assigning them to companies and customers seamlessly.
Excited about really boosting your business capabilities? Why wait when you can get started by partnering with us. Start today by reaching out to us here