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What is new in the NetSuite 2021.2 Update?

Every year Oracle NetSuite releases two major upgrades to improve and enhance the functionality of their NetSuite enterprise resource planning system, here are some key insights into NetSuite 2021.2. Get an Insight of the NetSuite 2021.2 Release ABN and NZBN Verification Warning ANZ Localization adds the ABN Verification Warnings preference on the ANZ Localization Preferences …

What are the differences between Xero and NetSuite?

As a small business owner when you’re growing at a rapid pace, it can be hard to keep up with everything. You might find that your processes are becoming inept, your employees are overworked utilising manual spreadsheets and workarounds to get things done due to the limitations of the existing systems. Then you find that …

Australian Manufacturers Can Move Closer to Autonomous Supply Chains with NetSuite 2021.1

Australia’s manufacturing sector is leading the way out of the pandemic, and they are doing it by using digital technology to drive manufacturing and supply chain efficiencies. The impact from COVID-19, has forced business leaders to work harder than ever to meet demand and stay ahead of emerging threats.  As a result, this sense of …

NetSuite Release 2021.1 Release Enhancements

Accounting The following accounting features have been enhanced in the NetSuite ERP 2021.1 Release: Advanced Numbering The new NetSuite Advanced Numbering feature enables you to create flexible, multi-use numbering sequences that accommodate multiple country and regional application for the countries you are conducting business in.  The creation of multiple complex numbering sequences for each type …

NetSuite 2021.1 Release Increases Automation and Intelligence to Boost the Growing SaaS Business Models for Software Companies

Analysis from IDC predicts that over the next five years, 80% of enterprises will shift to cloud-centric infrastructure and applications twice as fast as before the pandemic. This shift is creating unprecedented opportunities for software companies. Software-as-a-Service has changed the way businesses acquire and use software. Using this business model, on-demand applications are hosted by …

NetSuite 2021.1 for NonProfits Gives Improved Planning, Budgeting and Cost Control Capabilites

There is no doubt that last year’s bushfires and global pandemic were challenging for many nonprofit organisations. In the wake of these events, many Not For Profits have had to contend with operational disruptions caused by changes in how, when, and where they work. Donations have fallen short of their targets, and fundraising events have …

NetSuite ERP 2020 Release 2 Helps Professional Services Prepare for Change and Manage Hybrid Workforce Models

Over recent years, Professional Service firms including Netsuite partners, faced continuous challenges to long, complex projects from increasing competition and changing client requirements. Like every business, Professional Services firms are looking to reduce operational costs while increasing their bottom line.  To achieve these goals, the elimination of manual data entries, disparate project management systems, information …

Manufacturers Build Resilient Supply Chains With NetSuite 2020.2

The recent Australian and global crises have seen supply chains disrupted in many ways which has resulted in manufacturers forced to find new suppliers and analysing their entire supply chain processes and their suppliers’ supply chains.  In the meantime, they have been battling to meet demands and forecast in such dynamic and evolving environments. The …

6 Risks Facing Businesses with Legacy Systems

“We’re going to ‘sweat’ our asset a little longer”. This is a phrase that is often spoken by management when considering an organisation’s existing software systems. An initial investment has been made in a solution, and now, when faced with upgrading or replacing it for a better outcome, the business decides to hold off, rather …

NetSuite 2020 Release 2 Helps Wholesale Distributors Fortify Warehouse and Ecommerce Operations

Many Australian businesses rely on wholesale distributors to represent their business internationally, while many international businesses have appointed wholesale distributors for their ANZ market representation. Efficient warehouse operations is one of the key differentiators for wholesale distributors and solving core challenges can impact in delivering operational excellence.  Many distributors are battling with ineffective supply chains, …

NetSuite 2020.2 for IT Services and Software Companies Improves Subscription Management

IT Services and Software companies can now manage their subscription billings, reduce costs, and improve efficiencies with NetSuite 2020.2 Release. For many software companies managing subscription-based finances has always been, and continues to be a cumbersome process, often it’s a manual operation. The pandemic has resulted in bringing opportunities for IT Services and Software businesses …

What are the types of ERP systems – How does Cloud ERP Fit

What is an ERP and how do they differ? It is well accepted that technology drives growth and business improvement.  Advancements in software applications have meant that they have become critical business tools by maximisation of profit, improvements in efficiency, fostering innovation, and allowing for rapid scale and growth. As organisations looked for ways to …

NetSuite 2020.2 for Not for Profits Enables Accurate, Reliable Cross-Functional Data Sharing

The landscape for Australian Not-For-Profits is constantly evolving. Shifting demographics, changing regulatory requirements, reporting, and expanded funding examinations present challenges to this sector.  Successful nonprofits are those that can adapt to the demands and still deliver their services. The recent bushfires and COVID-19 crisis have highlighted the importance of using the correct data for financial …

Scenario Planning and Forecasting. A Must in the Current Landscape. Here’s How NetSuite Can Help.

As most financial and leadership teams will attest, forecasting under normal circumstances can be cumbersome and challenging, and in today’s current environment, it might seem even impossible. But as the economy reopens, it’s crucial for businesses to build out scenarios based on their current state and assume a wide range of outcomes, accounting for sales, …

Multi-Subsidiary Accounting Can Be Easy

Managing the typical close process is rarely easy—data is stored in multiple systems and formats, hours are spent tracking down missing information and spreadsheet calculations must be entered into the accounting system manually. For organisations with multiple subsidiaries or independent business units, however, closing the books is even more challenging, especially if they operate in …