NetSuite’s 2022.1 update is on the horizon, here’s everything you need to know

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It’s that time of year again when NetSuite gets ready to roll out its next big update to users. As per usual I’ll be taking you through some of the most important highlights from NetSuite’s 2022.1 patch notes including; updates to existing systems, new features, and any exciting changes that will help streamline your business. It’s worth noting that the 2022.1 enhancements and changes listed are not available to customers until they are upgraded to NetSuite 2022.1. 

New features coming to 2022.1

  • Project 360; The new Project 360 dashboard gives users one place to stay updated on all aspects of their projects. Users can customise invoices for each client with ease, ensuring they cater to specific customer needs and that they get done fast.
  • Cash 360; The Cash 360 dashboard provides a detailed view into your company’s finances, including how much money you have on hand and when it will be spent. It also includes projected collections from customers as well as disbursements for wages or other expenses associated with running businesses smoothly.
  • WMS; Warehouse managers can now use new WMS features to improve their operations, including expanding the capabilities of tallies scans and zone picking.New Pack Station capabilities to bulk pack and unpack “Ship As Is” items and easily review packing instructions help optimise order fulfilment processes.

Existing feature updates and highlights in 2022.1

  • Bulk payment; The bulk customer payments feature means that accounts receivable managers no longer need to process invoices on an individual basis. Instead, the payment from multiple customers can be processed in one step.
  • Automate Labour costing; Labour cost posting automation will help you keep your labour expenses under control and accurate by automatically allocating them to specific programs or projects that incurred the expense.
  • Consolidated reporting; New filters allow for easier analysis of all data, making it possible to find anything that you might be looking for specifically. You can now see which operations employees were involved in a specific shipment, as well as what they shipped and where.
  • Supply chain managers can now create custom views of the supply planning workbench, a single page that shows supply and demand orders, and save them for future reference.
  • Vendor performance scores; Scores are given to each vendor, with their performance rated on a scale of 1-100. Vendors who have been in business for at least three years receive an overall rating and can be allocated days early or late based on this number; those less established will only see estimated times assigned.
  •  Customizable invoice presentation; With the new customizable invoice presentation templates, you can configure the line item format that each client or project requires. You’ll be able to include detailed backing sheets for time posted by consultants as well as subcontractor costs.

If you’re curious about how all these systems work in practice take a look at our latest NetSuite Case Study by clicking here. 

If you’d like more information about NetSuite or if you want to try out the new features on a trial account get in touch by clicking here. 

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