SuiteWorld 2022: key takeaways from the ‘Full Suite Ahead’ executive keynote
The Las Vegas stage was occupied last week by influential figures in the NetSuite ecosystem for the event that’s been on everyone’s radar – SuiteWorld 2022 – and for good reason!
As expected, the annual conference returned larger and louder than ever before, with more developments to help guide the future of tech into the coming year. The event included everything you could need to help develop your understanding of NetSuite, no matter your level, with informative keynotes, talks, and roundtable discussions on how to maximize the platform’s potential.
EVP and joint founder Evan Goldberg indicated this in the very first keynote. ‘Full Suite Ahead’ is a tribute “to how [the NetSuite community] keeps moving despite obstacles. You charge into the future, and we are doing the same,” stated Goldberg when introducing the segment.
Opening the event in a flurry of color and spectacle, the speaker covered new developments to help users optimize their use of the platform for business growth iso users can stay on the fast track.
“We’re always working to help you break through.”
Perhaps the most exciting announcement was the introduction of new capabilities and solutions to increase efficiency and allow for greater automation, especially in areas such as the AP process, warehouse practices, and staff management.
So, what were these announcements?
NetSuite CPQ
Some of the most significant issues reported by NetSuite users were configuring, pricing, and quoting in their business. In response to this, NetSuite unveiled the NetSuite CPQ solution.
Earlier in the year, NetSuite acquired Verenia CPQ, a CPQ, CRM, and eCommerce solution that became integrated into the NetSuite user interface as NetSuite CPQ. Aiding business acquisition and growth, the solution enables sales teams to configure, price, and quote products robustly, accurately, and efficiently directly in NetSuite.
The guided experience allows users to create dynamic product visualizations and automate the generation of sales proposals, which helps to further enhance and accelerate the sales process, ultimately providing customers with a better outcome and higher satisfaction rate.
NetSuite Ship Central
Creating and delivering products and services is essential to any successful business. The platform’s solution, NetSuite Ship Central, helps improve warehouse operations efficiency in this area. The end-to-end shipping experience guides workers through the entire packing and shipping process from a mobile device, allowing customers to streamline their operations and eliminate manual processes. The app’s intelligent pack and ship capabilities speed up the task and automatically update inventory levels and financial data. As a result, the solution not only minimizes costs but, importantly, creates a better experience for warehouse workers.
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NetSuite SuitePeople Workforce Management
Hiring and empowering employees is another factor that NetSuite has aimed to improve and automate as “people fuel your activity,” says Goldberg. Enter NetSuite SuitePeople Workforce Management, a solution that helps businesses to automate processes such as time tracking and wage calculation.
Available on desktop, tablet, or phone, the new solution is created to make scheduling and time tracking more efficient for managers, forecasting demand and recommending how many workers will be needed to ensure you provide the best customer service possible. The solution also automatically calculates wages using this information, ensuring that employees are paid fairly for any overtime or vacation time, minimizing compliance risk. Tied into your financials, the automated process is a no-brainer for employers who want to optimize their scheduling and profitability.
NetSuite AP Automation
If you tuned into SuiteWorld last year, you’d remember the unveiling of SuiteBanking, a multi-year initiative to embed financial services into the NetSuite platform. This year, they announced NetSuite AP Automation, a solution to help customers streamline processing and payments within NetSuite.
The new system digitizes the bill-to-pay process, allowing teams to run more efficiently and making bills and payments processing secure, fast, and, most importantly, error-free. The AI process learns more about you and your business each time you use it, becoming more and more accurate over time. Teamed with two-way and three-way matching to ensure the final bill matches the item receipt and SuiteApprovals, the worry of inaccuracy will soon be a thing of the past.
Notably, a partnership with HSBC gives the ERP system access to automated payment services provided by the bank, making all this possible from within the NetSuite system. It’s never been so simple!
If we can guarantee anything from NetSuite, it’s the platform’s adaptability to whatever new challenges arise in the world of tech, and this keynote has shown that this year is no different. With over 5,000 more NetSuite customers than last year, it’s clear that the future of NetSuite can only get bigger. Make the most of these solutions available now to ensure you are part of that change!
