NetSuite’s 2019.1 release is almost here bringing useful new features and benefits for software companies.
Vision and scalability separate the top industry software companies from the rest of the pack, which makes NetSuite a popular choice for many internet software companies. NetSuite’s ability to manage the business’s back-end while building a critical foundation for futuristic growth makes it stand out from the crowd.
Check out our round up of everything software and internet companies need to know about NetSuite’s 2019.1 release below:
Extended Multi-Book Accounting Functionality
In release 2019.1, NetSuite is adding various capabilities to the multi-book accounting feature. Prior to 2019.1, the number of budgets a user could create for their secondary accounting book was limited. Now, one of the most requested NetSuite enhancements removes this restriction, allowing numerous budgets in the secondary book and comparisons with actual financial results. This feature will benefit many companies, most particularly those who have different currencies and exchange rates in their secondary accounting book.
SuiteApproval Adds Two New Capabilities
NetSuite 2019.1 creates a faster transaction process as SuiteApproval functionalities are enhanced by two new features: Super Approver and Skip Approver. These new features provide more control and visibility of internal business processes and speed up SuiteApproval. The ‘Super Approver’ capability allows a business process owner to expedite the approvals of transactions by acting as the “final” approver, while the “Skip Approver” capability automatically routes items to approvers with limited control of other transactions. These capabilities allow business owners to have more control over their internal workflows and save time in the process.
Flexible Installment Transactions
In many countries, it’s common for businesses to make purchases and collect payments in installments. NetSuite has improved its efficiency and effectiveness with installment-based transactions over the past few releases, but 2019.1 is a total game-changer. Users will have more flexibility with installment-based transactions as the system automatically calculates each installment, which are edited by the user throughout the entire transaction. This not only adds more efficiency and automation, but since it’s completely customizable, it also grants more control to the user. Installment transactions also can be labeled ‘due,’ ‘paid,’ or ‘needs to be investigated’ for companies to be as organized as possible.
Ease Of Use
Managing won opportunities and project details in CRM will now be possible with NetSuite’s 2019.1 release. This enhanced feature will reduce the need to re-enter data, as information flows seamlessly between the opportunity and project saving time and additional expenditures.
Ready or not, NetSuite 2019.1 is coming! Upgrades can be extremely exciting but, like anything, can come with stress and uncertainty. Avoid the post-release NetSuite blues and let us help you get ready for the newest NetSuite release!