Novutech welcomes Fast Four NetSuite services team and becomes the largest Solution Provider in the Netherlands and Belgium
February 02 2023
Exciting news! After working closely together for years, helping our customers benefit from the Fast Four SuiteApps, Novutech now acquires the Solution Provider team of Fast Four, the very first NetSuite Partner in the Benelux ever. After the acquisition in 2022 of Fast Four by Zone & Co, who focuses solely on developing and marketing SuiteApps, the Solution Provider team of Fast Four was looking for a new home and Novutech proved to be the perfect match. We couldn't be happier! Founded in 2012, Fast Four had over the years established a strong reputation around the world as a leading provider of NetSuite services, combining solid experience with smart implementation services and support. In those 10 years, they have helped dozens of companies in the Benelux to maximize the use of NetSuite as their cloud ERP solution. The acquisition of the Fast Four Solution Provider business marks a major step forward for Novutech. Not only do we almost double in size, both in customer base as well as the number of NetSuite consultants, but we also extend our NetSuite services offering into the Netherlands, on top of our existing offices in Belgium, France and Denmark. Besides increased market presence, this acquisition also brings many other advantages, including the acceleration of global NetSuite development and adoption, deepened customer partnerships, and an increase in our team’s expertise and experience, leading to faster innovation and product improvement. All of this will result in a greatly increased capability to serve our customers with a stronger, more knowledgeable team and to offer a more attractive working place for our consultants. We are thrilled to welcome 18 NetSuite professionals to our existing team of 30 dynamic Novutech consultants, becoming the largest NetSuite consulting team in continental Europe. Adding the 60+ customer base of Fast Four means that we will be serving 120+ NetSuite customers on a daily basis. Novutech offers premium consulting, implementation and support services around NetSuite ERP and provides own developed smart enhancements on the NetSuite platform, such as localisation bundles for France and Belgium, our bank connecting app Connectobank, a dunning bundle and extensions for Intercompany automation. Because of our ongoing preferred partnership with Zone & Co, Novutech will continue to act as Value Added Reseller for all current and future ZoneApps like ZoneBilling, ZoneCapture, ZonePayments, ZoneApprovals, etc. Through this acquisition, Novutech is more than ever committed to its mission to becoming a leading NetSuite Solution Provider, 100% dedicated to NetSuite implementation, optimisation and acceleration, helping European SMEs to leverage their business processes and realize their growth potential. We would like to thank all our customers, employees and partners for their trust. We are looking to continue our journey with you. Frédéric Szikora and Maxime Lothe, cofounders. Further details can be found in our upcoming press release.
Enhancing Tax Functionality in NetSuite with the SuiteTax Engine
January 26 2023
BackgroundSuiteTax is a tax management engine within NetSuite that helps businesses to determine and calculate tax, taking into account the country and jurisdiction (nexus) of the transactions. It offers a range of features to improve NetSuite's tax capabilities, including support for multiple tax codes and rates, the ability to handle tax exemptions and exclusions, and integration with tax reporting and compliance requirements. SuiteTax is not included as a default feature in NetSuite and must be purchased as a separate app from the NetSuite SuiteApp Marketplace.
FunctionalitiesNovutech, is taking advantage of the various SuiteApps available on the NetSuite SuiteApp Marketplace to enhance the capabilities of SuiteTax and provide a more customized solution for your clients. Using France localization and country-specific reports can be particularly useful for companies operating in France, as it allows them to access targeted reports and options that are specific to the French market. Mixing SuiteApps can be a powerful way to optimize the functionality of NetSuite for specific business needs. By combining different apps and features, it's possible to create a tailored solution that meets the unique requirements of your clients and helps them to manage their operations more effectively.
- Domestic sales: sales transactions within the same territory
- Domestic purchases: purchase transactions within the same territory
- Exports: sales transactions with a foreign entity outside the economic area/common trade
- Imports: purchase transactions with a foreign entity outside the economic area/common trade
- Intra-community sales: sales transactions with an entity belonging to a common trade area e.g. Schengen area
- Intra-community purchases: purchase transactions with an entity belonging to a common trade area e.g. Schengen area
- Tax type
- Tax codes
- Tax schedule
- Tax lookup logic
Why User Acceptance Testing is a crucial phase in an ERP implementation project?
January 17 2023
BackgroundWhen implementing an ERP, it is crucial to make sure that the users are familiar with the processes and the tool they will be using daily after go-live. Not only that, but the processes have to meet their business needs. To address these matters, every implementation project goes through a phase of user testing, called User Acceptance Testing. During this phase, users will test different processes of interest according to their job and validate them. In this article, we will review how User Acceptance Testing works at Novutech and why it is an important part of every NetSuite implementation project.
How it worksDuring the Enable part of a project, future NetSuite users are asked to test the processes that have been designed, implemented and tested by our team in NetSuite to meet their requirements. It can go from the creation of a vendor to the closing of accounting periods, and each user will be asked to test the processes corresponding to his/her daily tasks. This phase takes place in a Sandbox environment, which is intended for testing purposes only. Actions undertaken in this environment have no effect on the company’s business, which allows users to test as much as they want. Concretely, a list of scenarios to realize in NetSuite is sent to the appropriate users depending on their future NetSuite. A detailed list of instructions is provided with each scenario in order to make sure that all the steps are clearly understood. At the end of a step, a check is realized to confirm that the user is on the correct path and can therefore go on with the scenario(s). Users can validate a scenario if it meets their expectations, but they can also come back to us if they feel that it should work differently. In that case, we work with them to redefine and rebuild the process in NetSuite if needed.
What are the benefits of User Acceptance Testing?The User Acceptance Testing phase is important because it provides two main benefits:
- Users start using NetSuite and can therefore get acclimated to the ERP system before go-live.
- Users can provide feedback on NetSuite processes. This avoids unpleasant surprises after going live, as all major processes are validated during the User Acceptance Testing phase.
ConclusionTo summarize, during the User Acceptance Testing phase, future NetSuite users are asked to perform and validate scenarios in a testing environment. It allows them to get familiar with NetSuite and provide feedback on the scenarios they are testing. This phase is therefore a key moment in a project, when users can validate processes and when the integrator can make sure the ERP system is ready to be implemented.
- Testing Processes in NetSuite
- Validate scenarios based on testing
- User Acceptance Testing is beneficial to future NetSuite users
Advanced Localization Features - The new face of transaction’s layouts by NetSuite
January 10 2023
BackgroundTransactions layouts of any type are necessary for a company. Every company has their own, customized layout. Recently, NetSuite released a bundle named Advanced Localization Features (ALF), which offers the opportunity to have top notch Invoice/Credit-Note’s layouts by default which is a game changer.
PrerequisitesThe Advanced Localization Features bundle has for id : 359132 and can quickly be installed on NetSuite, once it has been provided. ALF is installed, a new dashboard is created in setup > accounting > Customize Invoice Template. On every Invoices and Subsidiaries a new subtab is created called Invoice Configuration.
Functional specificationsThe ALF bundle offers a lot of features that are easy to handle and customizable, like the following:
- The logo fits to the invoice, colors of the headers can be chosen and create a unique file.
- All the payment information, legal information that have to be displayed on the invoices can be personalized and displayed in some specific cases only by checking a box.
The different subtabs
- Labels & text
- Subsidiary-specific setup
- Tax Compliance Text
- Method of payment
- Bank Details
ConclusionCompanies need more and more customizable invoices templates. This bundle gives the opportunity to have a layout which is complete by default. VAT summary table, footer, header personalized colors, legal information and many more. A bundle which can make the difference thanks to how easy it is to use, install and personalize.
- Building a customizable and unique layout has never been that easy
- Novutech is adapting and using the latest invoice layout features
- 28 languages covered and no code needed
- Easy to maintain, even if it still requires time and knowledge to be fully set up
A more versatile Dunning solution for NetSuite
January 03 2023
BackgroundNetSuite is a great product and has a lot of native solutions to both common and advanced business needs. With some things though, the native solution is just not the right fit. Therefore, we developed a dunning solution with capabilities fit for the specialized needs of our customers. We already have a great bundle with improvements over the standard dunning solution, however, we are also developing an even more versatile and user-friendly version, which we will tease in this article. Let us get to it then, what have we improved upon the standard dunning solution?
Feature OverviewBetter overview of the dunning status on the customer record – we think the default dunning subtab could benefit from some additional relevant information, like the overdue balance and the dates of former letters sent. Below in orange is the standard dunning subtab. Below in blue is our dunning subtab with additional information. Choose which dunning letter to send to a customer with higher dunning level – At the time of go-live of the dunning solution, a customer might find themselves directly in level two or three. With the standard dunning solution, they would get a letter worded for someone who already got the previous letters and warnings. This can be extremely detrimental to customer relations, say if they go about their merry ways, and out of the blue get a letter warning of lawyers and whatnot. We do not want that. Our bundle makes it possible to ease into this, by sending lower level letters first. Considering unapplied credit memos at the customer level - The NetSuite Standard Dunning does not consider unapplied credit memos when evaluating the customer’s overdue balance, and by extension also their dunning status. This can lead to major errors, such as the dunning of customers with a credit balance, that has yet to be applied to specific invoices. Novutech Dunning, on the other hand, takes them into account to precisely compute the overdue balance. Dashboard View – We provide dashboard shortcuts to easily get an overview of all customers in the dunning cycle, and shortcuts to initiate overdue balance calculations, the sending of letters, etc. This is not the case for the Standard dunning solution. Custom customer statement - A custom customer statement is provided with the Novutech Dunning bundle. The Standard Dunning solution can only draw upon the account’s default statement template. However, this is often tailored to other needs, and is not specifically designed for dunning. Novutech’s Dunning bundle utilizes a custom statement template, which as a communication tool to customers, should be clear and concise on overdue balances and invoices. No need to create contacts to define dunning recipients - In NetSuite, if you want to define more than one email address to receive dunning letters, you need to create contacts and then set them as dunning recipients. Novutech Dunning allows you to just use email addresses in a string, separated by semicolon, just like on your email client. Consolidated statement in case of customers with parent-child relationship - The Novutech Dunning allows to send a unique Dunning Letter to a customer for the parent company and its children. However, the Consolidated Payments feature must be enabled. Attach the parent's and children's invoices and credit memos to the Dunning Letter - The Novutech Dunning allows to attach the parent's and children’s invoices and credit memos to the Dunning Letter. However, the Consolidated Payments feature must be enabled. Easy reporting of customer status - NetSuite Standard Dunning doesn’t provide a Dunning Overview page to track the dunning status of all customers in one place. We provide such a list, with filters to select relevant subsets of the dataset, based on primary subsidiary, dunning level, date of letter sent, and much more. All there, available on the dashboard.
What’s coming?We are continuously working on further developing the Novutech Dunning bundle. Currently we are working on exciting new features, like: The ability to exclude a specific invoice from the dunning process. This will exclude the invoice from both the calculation of the days overdue and the overdue amount for the customer. Continuous updates. As we are developing the package and adding new features and usability in the future, our customers should of course receive updates and release notes to go with it. Configuration is done at the subsidiary level – How neat would it be, to be able to set all relevant settings on the subsidiary form directly? This feature grew from the fact that many of our customers are multi-national and have different needs for different countries where they naturally have different subsidiaries in place. We therefore utilize the natural company structure, to segment customers into their primary subsidiary. Our goal is to make it so easy that everyone would be able to set this up themselves. Providing top notch user guides, tips and tricks, and moving complexity from something the user will have to comprehend, to something the code handles intelligently and will dynamically import settings in all the relevant places like saved searches, mass updates, workflows, and scripts. All configurations will be set on the subsidiary form. This allows for a one-stop-shop for all configurations, which include:
- Date ranges for dunning levels (three levels per subsidiary by default).
- Languages (up to five per subsidiary by default).
- Selecting the appropriate email template.
- Printer email address, so for the few customers you want to send an actual snail mail to, you can do so easily.
- Enable/disable different features, e.g. to use a fallback language or enabling inserting the email letter text in the statement, or attaching the overdue invoices in the email alongside the statement.
To sum up, our pack already offers:
- Better overview of the dunning status on the customer record
- The ability to choose which dunning letter to send to a customer with higher dunning level
- Overdue amount is considering unapplied credit memos at the customer level
- An easy to use dashboard View
- Custom customer statement
- To easily add more recipient emails on the customer record. No need to create contacts to define dunning recipients
- A consolidated statement in case of customers with parent-child relationship
- The ability to attach the parent's and children's invoices and credit memos to the Dunning Letter
- Easy reporting of customer status
- The ability to exclude a specific invoice from the dunning process.
- Continuous updates
- All settings are done on the page for the primary subsidiary of the customer
- The ability to have unique dunning thresholds, languages and email templates per subsidiary.
Meet Mathieu, technical consultant
Ontmoet ons team
December 15 2022
BackgroundI started my studies in computer science in September 2009 via a BTS Informatique des gestion. Then a Bachelor's degree in computer science with the option of software engineering. On the other hand, nothing predestined me to leave and start working in the field of ERP. It was after obtaining my degree and a professional opportunity that I discovered the world of ERP and the technology around ORACLE. I first started as a development engineer at a software company "INFOELSA" which developed and sold its own ERP specialized in the banking and insurance world. After this first experience of almost 3 years I wanted to see something else and especially to discover an ERP sold directly by Oracle, so I changed employers and went to “Alcyon SI” (a company specialized in Oracle EBS) as an ERP Consultant. During this experience and by participating in a migration project, I continued to develop skills on the product as a technical & functional consultant. Following this experience I wanted to take more responsibility and see the project management part as much on the implementation as on the migration. It is thus as a technical project manager that I integrated a new company "Lojelis". After these several projects on Oracle EBS I wanted to discover a new product more current and recent, so I had the opportunity to start as a Consultant on Oracle NetSuite. I was able to participate in a first implementation project with the responsibility of the technical site. Because I wanted to continue to develop my NetSuite skills and start a new adventure I contacted Nouvutech. In order to participate and be part of the adventure of the launch of Novutech France. I joined Novutech in August 2021.
Why Novutech?So I chose Novutech to be part of the adventure and the launch of Novutech FR. It's an exciting project to launch this type of structure and participate in the development of Novutech FR and its market. But also and above all I joined Novutech because it is a human-sized company where relationships between employees are very important. It is also a very young and dynamic company where everything goes very fast.
Novutech’s JourneyToday, I've been at Novutech for more than a year and we have gone from 10 to 30 employees. I participate in several implementation and optimization projects but also support (Solar Screen, EnergyVision, Bollé Brands, Sogelink etc ...) My technical and functional skills continue to improve daily on the product through these different projects and business areas. I went from technical analyst to technical consultant at the end of last year and I am now a mentor for two juniors who joined us during the year. This allows me to continue to develop my skills in terms of resource management and coaching. Many other projects are waiting for me at Novutech to continue to develop as a consultant and beyond.
What Is NetSuite and How Does It Work?
December 06 2022
In the late 1990s, “cloud” was not a word most people associated with technology. It was certainly not recognized as the future of software. But a few visionaries saw the benefits and tremendous potential of delivering software over the internet. One of them, Oracle co-founder Larry Ellison, convinced entrepreneur Evan Goldberg of the promise of web-based software, leading Goldberg to launch NetLedger, the company that would become NetSuite in 1998. Today, NetSuite’s cloud enterprise resource planning (ERP) system gives companies all the applications they need to run their businesses efficiently while nurturing growth. Organizations of all sizes and across dozens of industries run on NetSuite, harnessing the vast capabilities of its applications for finance, supply chain, customer relationship management (CRM), human resources, professional services, ecommerce and more.
What Is NetSuite?NetSuite is a software company that has developed a cloud-based business management platform used by more than 32,000 fast-growing organizations across the globe. That platform consists of a suite of applications that help companies run their business, understand the performance of their businesses and drive major efficiency gains and cost savings. The company’s ERP system manages core functions, including finance and accounting, inventory, orders and procurement. Customers can add options including CRM for sales, service and marketing automation, human resources (HR) for personnel records, performance management and payroll, professional services automation (PSA) to plan and track projects and omnichannel commerce for both online and in-store sales. All of these modules share a common database. Thanks to that central data source, information from across the system updates in real time and is accessible to authorized users across business functions. That gives leaders a real-time, 360° view of the business so they can see which processes or departments are exceling and which need a boost. NetSuite uses the software as a service (SaaS) model: Customers pay a subscription fee to access the technology but are not responsible for any underlying infrastructure or system maintenance, including purchasing and setting up servers, installing software or testing and deploying patches and upgrades. Oracle NetSuite handles all of that for customers, with two new software updates per year. Eliminating the maintenance and upgrade costs that come with on-premises solutions not only saves money, it frees employees to focus on the company’s mission and serve customers. The SaaS model also provides scalability: Businesses can add functionality as they need it without worrying about infrastructure and staff resources. For example, a B2B manufacturer may add NetSuite’s ecommerce module after it decides to start selling online. Ultimately, NetSuite gives businesses visibility and control through a single source of real-time information and the ability to add modules on the fly. That increases their efficiency and agility.
Video: What Is NetSuite & How Does It Work?[embed]https://www.youtube.com/watch?v=hvtBOVOUPNA&embeds_euri=https%3A%2F%2Fwww.netsuite.com%2F&feature=emb_imp_woyt[/embed]
History of NetSuiteNetSuite is often recognized as the first cloud software company. Goldberg and a few partners launched the company, then called NetLedger — a reference to accounting ledgers — in 1998 in an office located above a hair salon in San Mateo, Calif. NetLedger accounting software was hosted on the web, forming the foundation for what Goldberg envisioned as a unified software suite that could eventually replace the disconnected systems that companies then used to run their business. Ellison, a mentor to Goldberg, was a key early supporter — his Tako Ventures invested $125 million to get the company off the ground. Other investors included venture capital firm StarVest Partners and software vendor ADP as well as PaineWebber Group, part of Swiss bank UBS. In 2002, NetLedger became NetSuite after the company added applications for inventory management and CRM. That same year, Zach Nelson took over as the company’s CEO and kicked off a period of rapid growth, as annual revenue climbed from about $1 million to nearly $1 billion over the next 14 years. At the beginning of 2007, NetSuite made waves when famed Oakland Athletics General Manager Billy Beane — the subject of the best-selling book and movie “Moneyball” — joined the board of directors. That year ended with a successful initial public offering (IPO) on the New York Stock Exchange. NetSuite issued 6.2 million shares at $26, raising more than $160 million and giving the organization a market cap of $1.55 billion. In July 2016, Oracle announced it had made an offer to acquire NetSuite for $9.3 billion to support its shift to becoming a cloud software provider. After independent committees reviewed and approved the deal, it closed that November, and NetSuite began operating as a Global Business Unit within Oracle. NetSuite has continued to grow rapidly since the acquisition and has offices and employees around the world.
5 Core Features of NetSuiteAlthough NetSuite may be the oldest, it is not the only provider of cloud ERP software. So what separates NetSuite from other cloud solutions? Here are five highlights:
- Unified view of the business: NetSuite empowers any firm to run its entire business from a single platform. It brings together finance, supply chain, manufacturing, HR and ecommerce on one system, with one database, rather than using disparate software for each of those functions. Employees simply log in and, with a few clicks, monitor the status and performance of any aspect of their operations.
- Native integrations: All NetSuite applications feed information into, and pull it from, the central database to ensure there’s only one source of knowledge. The platform’s natively integrated modules negate the need for third-party integrations that may be unreliable or unable to support real-time updates. This unified architecture delivers a common user interface across all modules; that decreases training time and gets people productive faster. This model also allows users to complete order-to-cash, procure-to-pay and other multi-step processes from a single application without re-entering or exporting information.
- True cloud: NetSuite was born in and built for the cloud. In contrast, many “cloud” ERP systems are actually hosted or hybrid cloud — essentially, on-premises software retrofitted for access through the internet. Such solutions suffer from many of the problems that plague traditional systems, like version lock, slow upgrades and lack of scalability. NetSuite is a multi-tenant, vendor-managed cloud solution with endless room to support growth.
- Deep reporting capabilities: The vast amount of data flowing from departments and business units into the NetSuite platform fuels its extensive reporting capabilities. Users can pull reports on everything and anything they may want to measure or understand, thanks to the system’s built-in reporting tools. NetSuite also has role-based dashboards that quickly give employees, managers and executives the information they need to make informed decisions.
- Built-in flexibility: NetSuite can serve a broad array of industries not only because it comes with impressive functionality, but because it can adapt to meet the requirements of different businesses. The platform can be customized to accommodate your processes and corporate structure through SuiteCloud apps and tools, whether you’re a multinational brand with six subsidiaries or a startup still building its first product.
Products OverviewNetSuite can adapt to meet the needs of diverse businesses because it has a wide array of modules dedicated to critical business functions and processes.
FinanceFinancial Management: NetSuite’s financial management solution handles many bookkeeping tasks by automatically updating the general ledger, tracking accounts receivable and accounts payable and submitting invoices. This module speeds up the monthly close and simplifies the creation of key financial reports for regulatory and statutory reporting. It supports complex revenue recognition standards and easily consolidates financial statements from subsidiaries — including business units in other countries — with real-time currency conversion. Global Business Management: NetSuite OneWorld allows multinational and multi-subsidiary companies to manage their entire enterprises in one system. It can handle the diverse needs of global businesses via support for diverse currencies, languages, tax laws and reporting requirements. OneWorld offers financial roll-ups at the regional, country and global level, so decision-makers can get as broad or as focused a view of the business as they desire. Planning and Budgeting: NetSuite Planning and Budgeting gives business leaders everything they need to create detailed departmental or companywide budgets and forecasts. The module also provides financial analysts with access to statistical models that allow them to run what-if scenarios that project revenue, expenses and more based on different possible outcomes. Billing: NetSuite SuiteBilling helps companies manage invoicing and billing. It supports transaction, subscription, usage-based and other billing models, reducing the complexity of managing financials for many modern businesses. SuiteBilling records revenue in compliance with current revenue recognition standards. This module helps businesses stay flexible and profitable.
OperationsInventory Management: NetSuite Inventory Management provides a single view of inventory across all channels and locations, automatically updating levels in real time. The inventory management module can use sales data to set reorder points and alert purchasing managers when it’s time to place replenishment orders. It also manages cycle counts. All of this functionality helps businesses keep the ideal amount of stock on hand and avoid both out-of-stocks and excess inventory, boosting cash flow and profitability. Order Management: NetSuite Order Management handles the complete order lifecycle, from receipt through delivery, at each stage — as they’re placed, released, shipped and settled with the customer. This module can automate order processing and manage fulfillment across channels based on predefined rules. All of this leads to faster, more accurate fulfillment that reduces shipping costs while increasing on-time delivery rates and customer satisfaction. Procurement: NetSuite Procurement can improve the complete procure-to-pay process to save businesses time and money. Customers can keep a list of approved vendors, collect quotes and automate purchase orders while granularly monitoring performance and spend and enabling vendor self-service and expediting payments. Warehouse Management System (WMS): NetSuite WMS builds on the system’s inventory management capabilities, adding functionality for putaway, order picking, barcode scanning and returns authorization. The WMS module can run on mobile devices to direct warehouse employees through receiving, picking and cycle counting. The application, which also reports on warehouse activity, boosts warehouse efficiency and helps companies fulfill and ship orders faster. Manufacturing: NetSuite Manufacturing is built for companies that make or assemble products. The module helps with production planning and scheduling, shop-floor management and monitoring production to reveal insights and improvement opportunities. It ensures you have all the right supplies and parts in the right place at the right time and allows managers to build, release and track work orders. That visibility into the entire production process can ensure quality, reduce costs and increase on-time delivery. Demand Planning: NetSuite Demand Planning can help plan future demand for the products and services you offer based on historical data, existing opportunities or imported sales forecasts. The module can plan using the moving average, linear regression or seasonal average methods. Demand planning also helps with supply planning, automatically creating purchase and work orders based on the demand plan.
CustomersCustomer Relationship Management: NetSuite CRM presents a 360-degree view of customers. Sales force automation features help manage leads, quotes and sales to speed up the lead-to-cash process. Forecasting tools review sales data to more accurately predict future sales. The CRM application also improves customer service by combining all important data, like sales history and active support cases, in one place. Marketing automation tools in the CRM help companies manage campaigns and segment customers so they can be targeted with more relevant messaging. Commerce: NetSuite SuiteCommerce allows retailers, distributors and manufacturers to create outstanding omnichannel shopping experiences. The application allows companies to launch and manage mobile-friendly ecommerce sites with user-friendly tools. Multi-channel, multi-location businesses can connect all transactions and visits by unifying SuiteCommerce with the SuiteCommerce InStore point-of-sale application. The result is better customer experiences on the front end and a seamless order flow on the back end, with all payment and customer information automatically flowing into the ERP.
Additional CapabilitiesSuiteApps: SuiteApps are a vast catalog of applications developed by Oracle NetSuite and partners that extend the capabilities of your NetSuite instance, whether through additional functionality or integrations with other SaaS solutions. There are SuiteApps for all types of industries and business needs, and most of them run within NetSuite. Payroll: NetSuite Payroll automates calculations of earnings, deductions, taxes, bonuses and paid time off, accounting for variations in taxes across the United States. With the module, businesses can pay employees via direct deposit or print checks, file payroll taxes and create tax forms (like W-2s and 1099s) for employees. The payroll solution reduces the time spent processing payroll and ensures compliance with oft-changing employment laws and regulations. Human Resources: As NetSuite’s HR system, SuitePeople weaves human resources data throughout the suite. This solution stores personnel information, guides new hires through onboarding and tracks promotions and compensation changes. It gives employees self-service tools to request time off, view directories and org charts and publicly congratulate colleagues, while allowing managers to conduct and track performance reviews. SuitePeople lets employees handle more tasks on their own and helps organizations retain top performers. Professional Services Automation: NetSuite PSA solutions are designed for services companies or services divisions within product companies. This system provides project and resource management, billing, time and expense management and project accounting capabilities. OpenAir can track time and expenses in detail, then automate customer billing based on project milestones or a set schedule. The module delivers better resource utilization, a higher rate of on-time projects and increased profitability. Analytics: SuiteAnalytics harnesses all the data in the NetSuite platform to provide deeper insights, from summary to transaction levels. The SuiteAnalytics workbook enables users to build on saved searches and reports with custom filters and visualizations. Employees can get answers to pressing questions with simple drag-and-drop tools — there’s no need for coding or complex queries.
How Does NetSuite Work?All NetSuite solutions are delivered through the cloud in a subscription model. NetSuite was a cloud pioneer and remains fully committed to that deployment model — it does not offer any on-premises options. It’s a multi-tenant cloud solution, meaning all customers run on the same version of the software and its back-end infrastructure and regularly receive updated versions, automatically. Each customers’ data is stored and secured separately. This creates economies of scale because everything runs on the same code. Users access the platform securely through a browser from any device, whether a laptop, smartphone or tablet. This flexibility empowers decision-makers to track the performance of their business and be alerted to any problems regardless of where they are, so long as they have an internet connection. Role-based access gives authorized employees the information they need to excel in their roles without viewing data not relevant to their jobs. NetSuite users access all ERP modules, and the functionality within them, through a single sign-on portal — all the key information and tools needed to run your business are in one place. Customers can use simple drag-and-drop tools to personalize their home dashboard with the metrics, charts, graphs, reminders and shortcuts that are most critical to their roles. The same is true for all real-time dashboards throughout the suite.
What Type of Businesses Use NetSuite?NetSuite has become the industry leader in cloud ERP because it can address the needs of businesses of all shapes and sizes. That includes early-stage startups up to household-name enterprises, products- and services-based organizations and companies that sell to other businesses, consumers or both. The more than 32,000 customers that use NetSuite operate in a variety of industries, including:
- Advertising and Digital Marketing
- Apparel, Footwear and Accessories
- Campus Stores
- Financial Services
- Food and Beverage
- Health and Beauty
- IT Services
- Media and Publishing
- Professional Services
- Restaurants and Hospitality
- Software and Technology
- Transportation and Logistics
- Wholesale Distribution
How Is NetSuite Implemented?SaaS ERP systems typically are implemented quickly when compared with on-premises systems because there are no servers to set up or devices to configure. NetSuite builds on that advantage with its SuiteSuccess implementation methodology, an approach that no other software vendor offers. SuiteSuccess, launched in 2017, tailors the implementation to the business based on its industry and size. NetSuite offers SuiteSuccess editions for 12 verticals: agency, apparel and footwear, food and beverage, IT value-added reseller, manufacturing, media and entertainment, nonprofit, publishing, retail, software, solution provider and wholesale distribution. In addition, there are product-specific editions for financials, planning and budgeting, SuiteCommerce, SuitePeople and a starter edition for small, fast-growing companies. The SuiteSuccess approach leverages industry-leading practices NetSuite has developed more than two decades of experience to deliver faster deployments and rapid time-to value, resulting in increased employee adoption — and more success for customers. The system comes with preconfigured KPIs, reports, dashboards and reminders. Many companies have gone live on NetSuite in 100 days or less thanks to the SuiteSuccess methodology. While SuiteSuccess is designed with established best practices, the platform can be configured and customized to meet a company’s exact requirements. NetSuite was built with flexibility in mind and has a team of consultants ready to help customers get the most out of the solution.
How Much Does NetSuite Cost?Companies subscribe to NetSuite for an annual license fee. That license is made up of three main components: core platform, optional modules and number of users. That annual license fee stands in contrast to the large, one-time payment businesses are charged for a perpetual license to use on-premises systems as well as ongoing maintenance and support. Accounting, inventory management, order management and tax management capabilities are included with the core NetSuite platform. NetSuite’s modular pricing design means customers pay only for what they need, when they need it. As a business grows, it can easily activate new modules and add users — that’s a key upside of cloud software. Because every module is different and delivers unique capabilities, license costs vary. There is also a one-time implementation fee for initial set up. To receive a more detailed quote specific to your business needs or to simply learn more about NetSuite, schedule a free consultation. There’s a reason so many business owners and leaders trust NetSuite to manage their most critical processes and information. It’s a proven, reliable platform that helps organizations of all kinds grow and reach their goals. Having all key business information in a single system leads to more informed decision-making and allows leaders to resolve problems before they cause major disruptions. Simply put, there is no replacement for drawing insights into your operations and running your entire company from one source of data, in one interface. Posted by Ian McCue Source: https://www.netsuite.com/portal/resource/articles/erp/what-is-netsuite.shtml?cid=Online_NPSoc_LI_SEOG2ForAReason
Our SuiteSolution Intercompany Pack within NetSuite
December 05 2022
Novupack Intercompany Solutions
BackgroundTo facilitate the entry of intercompany invoices and bills, Novutech has set up a package called "Intercompany Package" which allows you to save precious time. This package is composed of two solutions: - Auto-bill intercompany creation. - Intercompany recharging suitelet. This package answers a NetSuite limitation. Indeed, the only transaction that can be created automatically is a sales order (from a purchase order). Thanks to these two solutions, the automation of the creation of intercompany bills and invoices is now possible and easier.
NetSuite standard solutionThe standard NetSuite system allows you to create a sale order from a purchase order. To do this, simply create an intercompany purchase order. Of course, the user must choose an intercompany item (an item for resale) then go to “Manage Intercompany Sales Orders” On this record, you can select the following information: Intercompany customer, the currency, the transaction date, department, location. The intercompany Purchase Order appear on the list: After selecting all the purchase orders that you want to create sales orders from. You click on Generate Sales Order. The record is then processed: The sales order is generated.
Intercompany Bills & Invoices – Automated FlowA custom solution has been developed for the intercompany process in order to start from the bill directly and to avoid using the standard process of starting from the sales order and purchase order. When creating an invoice, after filling the record and clicking on save, a bill transaction is automatically created. You can find the link to the bill in the field “Paired Intercompany transaction” and the “Intercompany status” passing to “Paired’ as below: The Intercompany Vendor is linked to the Intercompany Customer on the entity record so the bill can be created with the appropriate vendor: The bill is then created using this information and linked to the invoice: The intercompany recharging solution: The intercompany recharging solution is a Novutech creation that automates the creation of intercompany bills and invoices. The goal of this solution is to optimise the time spent on the creation of intercompany transactions. It's very quick and easy to use. To use the recharging solution, you go the page “Intercompany Transactions”: From subsidiary: In this field you can put the intercompany vendor. Memo: In this field, you can put the main memo. Date: Date of the transaction. After clicking on next, you arrive on this page: Here, you must determine the customer subsidiary, the segments you want to populate like the department or the location (Other segments can be added), the intercompany item, the line memo, the currency and the exchange rate. After validating these informations the status passes to “In progress”. That means that the transactions are being created. The status changes to completed and the links to the transaction appear. The two transactions are created with the appropriate segmentation. You can also integrate these transactions using a CSV import.
ConclusionThe Intercompany Novupack offers solutions that facilitate the entry of intercompany invoices and thus exceed the limits set by the NetSuite standard. The intercompany solution offers the ability to :
- Easily create an intercompany bill automatically after creating the invoice.
- Link between the intercompany transactions (Invoice vs Bill).
- Automate the creation of the bills and the invoices using the recharging solution.
- Use CSV imports to integrate the intercompany transactions in mass.
Develop online forms in your NetSuite environment
November 29 2022
BackgroundNetSuite offers its users to create and publish online forms available via an external URL. This feature is mostly used in the context of a marketing/CRM follow-up for example customer satisfaction survey. The information received from the online forms will automatically create or update records in your NetSuite account. This feature is therefore only available for the case, client record or custom record created in NetSuite.
Online Custom Record FormsWe are going to present to you a design that we made. The need was to follow the customer satisfaction, but that at the order level. And not just at the customer level as NetSuite offers for example. Therefore we have created a custom record with the appropriate questions for this satisfaction survey, and the field sales order as record is parent to link the custom record and the SO. We have also added a subtab only to show a sublist concerning this custom record. After that we created our online forms linked to our custom record. We have two possibilities either to create a standard online form or to create an online html form. The standard form allows you to quickly create a NetSuite designed form while the online form allows you to create an HTML form template and a linked form. The HTML form means you can develop your own design with a specific CSS for example. Once the template is created and designed, it is necessary to create the online custom form record linked to this template. It is necessary to add all the fields specified on your template design. It is possible to add a return URL once the form is submitted. When the online form is created the external part of this record will show you some info like the number of times it has been viewed and submitted. And very important in our case the url for the external publication. If we come back to our need expressed above, the solution is to send this URL with the SO id to the customer via email during a satisfaction survey campaign. So that when the customer submits the form, the information submitted is directly linked to the SO concerned. ex : https://”id of NetSuite account”.extforms.NetSuite.com/app/site/crm/externalcustrecordpage.nl?compid=”id of your NetSuite account”&formid=3&h=AAFdikaIeK4ck_TKXYS1Xp4rc-CaoITxrrDs-xVBlyk5MJZBgyg&custrecord_nov_so=”id of your SO” And so we will have all the information submitted on the SO concerned in NetSuite.
ConclusionThe solution offered by NetSuite as standard allows you to quickly develop online forms, however the design is a bit simplistic and not very friendly. On the other hand, the possibility to develop your own html template allows you to assign your own graphic style, but it is necessary to have technical knowledge in order to be able to realize this. All this to show you an example of using this online forms feature offered by NetSuite. So that you can come up with a different design yourself.
Novutech and Oracle training programs
November 07 2022
Novutech and Oracle training programs
BackgroundThis article outlines the valuable partnership that exists between Novutech and Oracle, and the opportunities for Alliance Partner members to undertake training programs offered by Oracle. I also describe how Novutech uses this alliance to invest in their employees by ensuring all members grow with the company to better serve their clients. Finally, I conclude this article by sharing my personal experiences of Novutech’s investment in me, and the opportunity I was given when I undertook one of the training programs.
Novutech and OracleNovutech’s partnership with Oracle can be linked to the established values adopted by our company, and the importance in investing in our employees with “Team First and Talent Development”, and “Excellence” in providing strong professional customer service to our clients. These values are built upon the foundations of internal growth, and as such, we have been recognised as an Official NetSuite Partner and an Alliance Partner with Oracle. By strengthening internal growth, Novutech gives both new and established employees the opportunity to become equipped with the latest tools, knowledge, and methodologies for the efficient administration and implementation of NetSuite. For new employees, the alliance with Oracle allows them to discover NetSuite’s capabilities through a range of different training programs offered to alliance partners, and equally for established employees to build upon their already obtained NetSuite knowledge by undertaking other training programs. One of the major advantages of this alliance includes Novutech employees given the chance to earn NetSuite certifications, and thus provide certified expert advice in implementing efficient NetSuite solutions, and bring added-value to our clients. Investment in Novutechos and SuiteLife Campus Being privy to this alliance, my personal experience in recognising the partnership that exists between the two companies was when I joined the team as a Business Analyst at the end of August 2022. Now an official Novutechos, Novutech recommended that I undertake one of the Oracle NetSuite partner enablement training programs called EMEA SuiteLife Campus, knowing how valuable it would become for new joiners like myself, in gaining an understanding of the core competences of NetSuite and obtaining the basics in Administration and ERP fundamentals. I would be registered for the SuiteLife Campus training program on behalf of Novutech, and the sole member of the Novutech team to have participated in this program. The EMEA SuiteLife program was a six-week virtual training program, facilitated by the team at Oracle, and covered fundamental topics for the implementation and foundational understanding of NetSuite’s core processes. From the beginning of the training program, I would discover how dynamic and powerful NetSuite was at implementing effective business process management, but also the alignment between the methodologies used by Novutech and their alliance partner in Oracle. Whilst I had previous experience in ERP management, I would soon realise the professionalism in NetSuite’s processes, in particular the importance in following guidelines for accounting and tax purposes, and how Novutech consults with clients in making clients aware of their obligations on a financial basis. However, even if Novutech does not offer financial advice, we do have an understanding in efficiently implementing NetSuite to manage our client’s business processes more effectively. The alliance that exists between Novutech and Oracle is greatly strengthened by the active collaboration and constant communication between the assigned Oracle member and the Novutech alliance partner. I would soon become aware that Novutech would do everything they can to ensure that I obtained a successful learning experience from the SuiteLife Campus training program, by communicating with the Oracle member pre-training, during training, and post-training. Continuous Alliance The alliance would not end at the conclusion of the training program, with Novutech employees presented with the opportunity to undertake other training programs offered by Oracle. These opportunities, such as undertaking the training program to become a certified ERP Consultant, is made possible thanks to Novutech’s access to the Oracle NetSuite training programs, offered exclusively to alliance partner members. As such, opportunities in implementing NetSuite are made available to new joiners and current Novutechos, and go as far as providing a sound level of expertise in efficient business processes. A word of thanks Thanks to Novutech for giving me the opportunity to undertake the SuiteLife Campus and for the team at Oracle for facilitating the training program in a virtual environment. As a result, I gained a good understanding of NetSuite’s processes and obtained the knowledge for the Administration and ERP functionalities that would become valuable in implementing the NetSuite application for Novutech’s clients. In short
- Values, Investment, Alliance, Growth, Learning, Collaboration, Communication
- Certified training programs to grow the team’s knowledge
Meet Martin – From intern to employee
NetSuite artikelen Ontmoet ons team
October 13 2022
My internship at Novutech
BackgroundLast January, I had the opportunity to join Novutech as a Business Analyst intern. A new and exciting adventure for me that ended last April. But it wasn’t the end of my journey as a Novutechos. I joined the team back in September, this time as a full-time Business Analyst. In this article, I will explain to you my journey at Novutech and why I wanted to come back to this company, to this team.
My internshipIt all started on January 31st. It was the first day of my Master’s internship, and I was excited but also a bit anxious. But this anxiety didn't last for long. From the start, everyone welcomed me as a member of the team and helped me feel comfortable. I found a place where I could work and learn to improve myself everyday. I worked on multiple projects early in my internship, which allowed me to display but also improve my skills. People at Novutech really trusted me to make an impact even if I was still an intern. I had the chance to be responsible for my own projects and to work autonomously on them, which allowed me to grow as a person and as a worker, scheduling the tasks on my own and delivering quality results on time. I also realised during these different projects that Novutech offered me a challenging work environment. Indeed, I discovered that working in the ERP sector means I have to carry out projects for multiple customers in various sectors, which allowed me to work on various aspects of a company’s daily operations. This creates a stimulating work environment where you never stop learning. Despite all that, it can happen to feel a little lost, and it is normal as an intern. That is why each intern and each new joiner has a buddy. My buddy was my reference, the person I could contact when I had a question or if I encountered a problem. Weekly meetings were planned with him to discuss my work, how I was feeling, points of improvement, … but I could contact him at any time. At the end of my internship, I realised that I found a great place to work. I had wonderful colleagues, a challenging and stimulating work environment, autonomy and responsibilities. Of course I wanted to continue the adventure!
From intern to employeeA little over a month ago, I came back to Novutech, this time as a Business Analyst. Thanks to my internship, I was ready to work on customer projects from day one. As I was already autonomous and responsible for my work during my internship, the transition is very smooth. I still have a lot to learn, but I feel comfortable working in this environment. The pathway from intern to employee here at Novutech is a great one, allowing a more comfortable adaptation when leaving university for the working world. Being able to start your first job knowing the people you will be working with and the work you will perform is a great luxury to have!
ConclusionTo summarise, Novutech offers a great pathway from intern to employee. As an intern, I had the autonomy and the responsibilities to grow within a challenging working environment. I also had the time to learn and a great buddy to help me on all aspects of my life as a Novutechos. Therefore, as an employee, I came in a more comfortable way with a smoother adaptation.
- As an intern, I had the opportunity to grow with autonomy and responsibilities, with help from my buddy
- This pathway allows a smooth transition from intern to employee
- Join us!
NetSuite Release 2022.2 Overview
October 11 2022
We are already in the middle of October, and shortly all NetSuite customers will be upgraded to the 2022.2 version and will be enjoying some fresh enhancements and new functionalities within their NetSuite environment.
BackgroundAs part of their goal to consistently optimise their customers’ business operations and further automate their financial processes, NetSuite left nothing to chance and carried out a wide variety of improvements ranging from core accounting activities to banking, inventory management or within SuiteAnalytics. Whether you have already familiarised yourselves with the enhanced functionalities in a Release Preview account or not, the following features selection will give you some insight into NetSuite’s upgraded possibilities and how they will help your company grow.
FunctionalitiesWe tested NetSuite’s 2022.2 new or enhanced features and picked a couple of them that we found interesting for you to discover: 1. Multi-Subsidiary Customer Now Compatible With Consolidated Payments Are you currently using multi-subsidiary customers in your NetSuite account? This feature is made for you. NetSuite 2022.2 provides compatibility between the Multi Subsidiary Customer and Consolidated Payments features. To use these features together, all parent customers must have all subsidiaries of their sub customers. If you sell to customers who have subcustomers, the Consolidated Payments feature gives you the flexibility to accept payment for sub customer invoices from either the top-level customer or from the individual sub customer. 2. New 360 Dashboards NetSuite has promised us some exciting new dashboards on SuiteWorld 2021. It looks like we will be seeing the Cash 360 Dashboard and Project 360 Dashboard in this 2022.2 New Release, as they were postponed in the 2022.1. Those dashboards are really nice-looking and providing some nice insights on your business. Nevertheless, we have spotted the following limitations:
- It only shows data for the subsidiary of the currently logged in user.
- Those dashboards are not customizable.
- Inline Editor Sublist Tooltip When you hover over a cell of a sublist, a tooltip will show the name of the column. In the example below, we hovered over the Units cell and the Units tooltip appeared.
- The title bar on the home page contains a menu button on the left with links to the main resources of SuiteAnswers. On the right side there is the NetSuite status logo which displays the current status of available services. Additionally, there are the Contact Support and global Feedback buttons.
- The homepage contains announcements, featured videos, newly uploaded videos and staff picked videos, and content categories.
- The article view includes an estimated reading time, a list of content that other users found useful, and reworked code samples. The Share button allows you to share an article through a link or by sending an email. The email option supports multiple recipients.
Did you know this?
- Each NetSuite Release actually occurs in four phases from Mid-July until the Mid-October for the .2 Release. You typically would also get an email notification sent to the address(es) configured in your administrative notification settings
- Your Release Preview environment is typically made available about one month before your scheduled upgrade. However, from our experience, you can get it earlier in the release cycle by simply requesting (via Setup >> Company >> Release Preview).
- In addition to requesting a Release Preview (RP) account for your Production account, it is also possible to request a separate Release Preview account for each of your Sandbox accounts.
- Similar to the Sandbox refresh, you can request for a fresh snapshot of your Production data to be pushed to your Release Preview environment.
- The Sandbox environment also gets upgraded but typically not on the same day as Production.
- If your account has already been moved to the Oracle Cloud Infrastructure (OCI), you can actually reschedule the Upgrade if required: