November 11, 2021
Average Read Time: 2 minutes
During the recently concluded SuiteWorld conference, Evan Goldberg, founder and EVP, focused on the three superpowers NetSuite offers to businesses – automation, insight, and agility – in his keynote address.
“You definitely need to do more with less, and automation is a great way to achieve that. With things changing more quickly than ever, you need that insight to be able to see behind the data. Finally, you need agility,” Goldberg said.
Not surprisingly, the product announcements at the event that people were most excited about – those involving accounting and analytics – touch on all those themes. And if you weren’t able to attend the conference and want to learn more, we recently held a SuiteWorld Highlights Webinar.
A panel of NetSuite experts, including an Oracle NetSuite product marketing manager, an Alliance Partner/Consultant, and a NetSuite user/administrator, shared key takeaways from SuiteWorld. You can watch the webinar here.
The panel of NetSuite experts discussed SuiteBanking and the Analytics Warehouse, both featured at SuiteWorld. In addition, a NetSuite administrator presented her learnings from a session on easy-to-use developer tools for moving from sandbox to production. Following are some details on the solutions they talked about.
This new solution gives companies greater control of cash flow and deeper insights into the cash requirements of their business. By delivering better automation for accounts payable and accounts receivable processes, SuiteBanking makes paying bills and sending invoices easier and helps companies get paid faster. It helps eliminate manual processes and mistakes and improves efficiency. It also gives businesses a much better picture of their cash flow by improving accounts receivable and payable processes, bank reconciliation, and spend and expense management.
In addition, integration with banking partner HSBC, one of the world’s largest financial institutions, means companies will have access to payment card services and a global digital wallet from within NetSuite, giving them greater control over how they make and receive payments.
Built on Oracle Analytics Cloud and Oracle Autonomous Data Warehouse, NetSuite Analytics Warehouse helps customers spot patterns and gain insight to improve decision making and uncover new revenue streams.
The Analytics Warehouse extends NetSuite SuiteAnalytics, which provides embedded real-time reporting and metrics dashboards using NetSuite data. The new warehouse offers easy and secure data transfer that eliminates manual data integration; enriched analytics with third-party and NetSuite data; and ready-to-use role-based analytics that help organizations make more accurate predictions and recommendations based on data analysis.
SuiteBundler, introduced in 2007 to enable creation of third-party vertical applications and end-to-end business process customization within NetSuite, will eventually be discontinued. That means users must manage add-in features manually – which may be a concern to developers. However, one SuiteWorld session demonstrated how easy it is to use NetSuite developer tools to go from testing to deployment, removing issues stemming from the pending loss of SuiteBundler.
Watch our Highlights Webinar for the color commentary that will provide context for these solutions and more insight on the noteworthy features and how they improve the effectiveness of NetSuite users. The session also includes an open Q&A during which attendees asked the experts questions on several other NetSuite topics.
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