NetSuite ERP for Professional Services – Release 2019.2

We will be sharing with you the key new functionalities across each of the industries and what these means for you.

Let’s start with the Professional Services industry 2019.2 major highlights –

• Project budgets now provides the facilities to enable the capturing, monitoring and reporting of all spends on project budgets through the use of work breakdown structure (WBS) and activity codes. This compares to the current high-level total budgets values for Labour, Expense, Supplier and Other.
• A Lock Timesheet Period feature improves security and better enforces control over when timesheets can be entered, modified or deleted. This will help you start making your resource accountable for having their timesheets entered on time and start billing customers more regularly.
• Start measuring against pre-defined project resource utilisation targets for your employees. For example, if the Target Utilisation value is 75 percentage, NetSuite multiplies the total hours on the employee’s defined work calendar by 0.75 to determine the available hours. The Total Hours column now reports the total number of hours from the defined work calendar.
• Enhancements to the Resource Allocation Chart Grid that now supports custom segments to be applied to optimise resource management
• Project Work Back Schedule has been created to improve project project due date planning, allowing PM’s to schedule project phases from the end date backwards through automatically calculating project start dates based on scheduled end dates and hours required
• Customer Billing Rate Card is now available making complex billing arrangements easier in the billing process