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NetSuite Release 2021.1 Overview

Background

We are well into 2021 and NetSuite users will soon discover the new features included in the first release of the year.

As part of their goal to consistently optimize 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 localization and warehouse management.

Whether you have already familiarized 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.

Functionalities

We tested NetSuite’s 2021.1 new or enhanced features and picked 5 for you to discover:

1. Centralized Purchasing and Billing

The Centralized Purchasing and Billing feature allows NetSuite users to receive purchase orders across multiple subsidiaries

This is particularly useful for companies working with a central entity placing orders for multiple subsidiaries as it will spare them a lot of time and energy in unnecessary transfer transactions.

When the feature is enabled, the line fields “Target Subsidiary” and “Target Location” become available on the purchase order item line, which will allow NetSuite to split the order by subsidiary and location when it is received.

Note that the feature also supports vendor returns fulfillment, intercompany cross charges, or vendor bill variances. 

2. Advanced Numbering

The new Advanced Numbering feature enables NetSuite users to create flexible document and transaction numbering rules. 

This enhancement is especially useful for companies active in countries with strict and demanding numbering rules.

NetSuite users will now be able to build complex numbering sequences with the help of prefixes and suffixes. Sequences can be initiated by fiscal year, location, subsidiary, or other custom criteria.

3. Enhancements to Manage Translations

This enhancement will delight the localisation experts and other PDF templates gurus among us. NetSuite now allows you to export and import translation strings directly from and to NetSuite.

This will allow you to quickly mass update your translations for all the languages in your NetSuite environment.

4. Warehouse Management Enhancements

NetSuite has been working hard to improve its WMS module and from release to release more and more helpful enhancements are brought to make it a more practical and user-friendly tool.

Among other optimizations, let’s highlight the new picking waves capabilities, now supporting bulk order picking, scheduled waves, and release from mobile devices, as well as the new WMS system rules, now allowing bulk processing.

5. Secrets Management

SuiteScript 2.1 now allows developers to manage authentication credentials through API secrets. Thanks to this feature, keys, passwords and other information can be kept hidden and be referenced in scripts without being hardcoded.

These secrets can be further restricted to specific employees, scripts or domains.

With this feature, NetSuite shows once again its commitment to security and its willingness to constantly upgrade the protection of private data within NetSuite.

If these features tickled your interest, have a look into Oracle NetSuite’s blog here to learn more about the exciting new updates included in the new release.

You are looking for a new ERP and want to know more about NetSuite and the impact it can have on your business’s growth? You are already using NetSuite but you think your processes could be optimized?

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