SuiteWorld 2022

3 powerful takeaways

Marinka Rohlffs, Juliana Seawell, Christine Cameron

Time and time again, NetSuite shows it is committed to helping companies leverage the power of digital transformation to streamline operations and optimize resources with a focus on return on investment (ROI) and productivity.

SuiteWorld 2022 was no different – full of cutting-edge information, new opportunities for ROI, and breaking NetSuite news.

Our team of NetSuite nerds was there, of course, taking copious notes and watching for new industry trends. Now, we’d like to share our notes with you. Because why should we keep such great information to ourselves?

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Here are 3 of the most powerful takeaways from SuiteWorld 2022:

1. NetSuite has exciting new tools that can offer ROI quickly.

NetSuite is sweetening the pot for its customers by adding a host of new tools. Here are three to be aware of:

Powerful new accounts payable automation

This tool has the potential to save an organization time and money by making invoicing more efficient.

The automation technology reads vendor bills via optical character recognition (OCR), which scans them to capture details from invoices so nobody has to enter the information by hand.

NetSuite has never had this functionality before. Instead, clients have always had to set up an integration with a third party to send payments to vendors. Now it’s a part of NetSuite.

Netsuite CPQ

This new add-on allows teams to configure, price, and quote (CPQ) products.

Here’s what that means: Sales reps (or anyone on a website) can configure a quote or sales order.

It’s like being able to customize a car on a website – but it’s for business-to-business sales orders. This creates exciting efficiencies and can reduce errors.

A new workforce management module

This just-announced module can help with hiring and empowering employees. The module has a time clock and can manage capacity.

Retail businesses and warehouses now are able to optimize current employees' time and have them clock in and out reliably and consistently.

2. NetSuite is growing rapidly – and becoming more useful.

NetSuite shared an update that its user base is up to 32,000 customers. That’s a significant increase from last year, which means two things:

First, NetSuite is scaling quickly. Second, it is becoming the standard for enterprise resource planning (ERP) software. The theme of SuiteWorld 2022 was “Full Suite Ahead,” which captures this idea nicely.

Keeping more functionality inside NetSuite

Users can do more than ever within NetSuite, instead of relying on to external providers.

For example, NetSuite’s new accounts payable automation tool helps clients avoid using outside software or entering invoices manually. NetSuite also recently has improved its bank fees and bank reconciliation functionality. It has even made investments into its analytics and database tools.

These actions show NetSuite’s desire to replace the outside platforms that people typically integrate. The goal? Simplicity.

Look for that increased functionality to continue and ask your NetSuite consultants about ways NetSuite can serve you better.

Already powerful – but growing even more powerful

NetSuite continues to be a market leader by investing in infrastructure using the Oracle software framework, including a business intelligence tool called the NetSuite Analytics Warehouse. This tool allows for powerful, out-of-the-box reporting using data from NetSuite and external sources.

3. NetSuite can continue to help optimize clients’ business.

Wherever you are on your journey, Crowe can support you. Here are a few of the key areas of support you have in your corner:

The learning lab

NetSuite has been working hard on its Learning Cloud Support (LCS) resource, a cloud system that allows your team members to train themselves on how to use NetSuite better.

The LCS system features a host of simple and effective "how to" training sessions that NetSuite users can take advantage of. The LCS system helps NetSuite users increase their understanding of NetSuite software's incredible power and capabilities.

Optimization from Crowe

Wherever you are on your NetSuite journey, Crowe can help you optimize your NetSuite systems. We can help you look at useful new features, find new partnerships, and respond to any issues in your organization. Crowe can provide health checks as well as optimization and support services.

Take it from Genesys, a Crowe client. Crowe has helped Genesys make a great deal of NetSuite improvements, and the organization is becoming a standout.

A representative from Genesys spoke at SuiteWorld 2022 about the importance of getting the buy-in of finance teams, IT teams, and the C-suite when trying to get your company to implement NetSuite. The key, according to the Genesys speaker, is finding the right provider that allows you to focus on customer experience.

We can help you set up NetSuite specifically for wholesale distribution.

Crowe has already developed several solutions within NetSuite to address the challenges and barriers to growth for our wholesale distributor clients. We can do it for you, too, in less time than you might expect.

NetSuite consulting services

Setting the pace for ERP innovation

SuiteWorld 2022 was a powerful reminder of NetSuite’s commitment to pushing ERP processes forward – and setting the pace for innovation.

If you have any questions about how you can benefit from any of these innovations, just shoot us an email.

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