What to Expect from Your Oracle | NetSuite System:
Version 2018 Release 1

Below are the release highlights, upcoming features and the benefits the new features will provide for you and your company.

Global Financials Capabilities

Advanced Revenue Management

Advanced Revenue Management (ARM) is improved thanks to the new release, as users can now:

  • Create revenue recognition journal entries
  • Defer revenue reclassification
  • Aid the transition from classic revenue recognition
  • Allocate revenue to different items or time frames

The Enhanced Deferred Expense Waterfall Report lets you analyze the waterfall pattern by providing a forecast of expected expenses.

Multi-Subsidiary Customers

One of the main new capabilities is Multi-Subsidiary Customers. This new feature provides businesses the ability to have a single customer record across subsidiaries, enabling them to streamline customer records and manage customers across multiple subsidiaries more efficiently. Users can now:

  • Assign customers to transactions regardless of the subsidiary they were created under
  • Serve global customers efficiently
  • Eliminate duplicate customer records
  • Improve customer satisfaction with more accurate information

Professional Services Automation

In the 2018. 1 release, you can see an enhancement on one of the highest traffic areas of NetSuite: the weekly timesheet. The new weekly timesheet now has a more user friendly interface with improved capabilities. The more flexible, modern timesheet includes:

  • Customizable pop up windows for memo field
  • Floating column headers with sum of total hours
  • Always-visible split grid with locked section
  • Mass approval/rejection functionality

NetSuite is also excited to announce their new Project Profitability Reporting based on each business process. Once configured, this new enhancement allows users for:

  • Categorization of items or expenses to the needs of the company
  • Ability to alter accounts that are being tracked
  • Revenue recognition and amortization
  • Plan for future revenue and earnings

Suite Commerce Highlights

The new release adds more capabilities to the previously introduced Sitemap Generator, which generates a new sitemap in minutes. The new Sitemap Generator Scheduler lets you:

  • Schedule automatic updates to your sitemap
  • Generate new sitemaps on a daily, weekly or monthly basis
  • Always have an up-to-date sitemap for search engines to index
  • Include Site Management Tool (SMT) landing pages

Additionally, new functionalities allow marketing managers and non-technical users to enhance their storefronts through:

  • Easily customizable colors, buttons, shapes and fonts
  • Intuitive, easy-to-use tools

 

There are many improved features with the 2018.1 release. For more on how we can help you navigate through these updates and get the most out of your products, contact one of our experts at info@innovergent.com.