|Key Takeaways from SuiteWorld’18
- Key Takeaways from SuiteWorld’18
READY, SET, GROW….
This was the theme of the recently concluded largest gathering of NetSuite users, partners and developers from all over the world, theSuiteWorld’18. All through these 3-day conference of the industry’s #1 Cloud ERP, words that will stick by you are GROW. GROWING. GET GROWING. We’ve roundup some of the highlights of the event. Have a look and enjoy reading.
Essentially, what is growth? Growth means a lot of things for everybody Growth may can be increasing in physical size which is a visible manifestation of growth. In SuiteWorld’18, Growth is a lot of things.
Growth is Change.
The only constant thing in the world is change. And when you change, you always change for the better. With Oracle’s acquisition, NetSuite has had the highest customer retention, improved employee retention, highest customer satisfaction, most new customers and faster revenue growth.
One of the changes that you will see in NetSuite is the next generation UI framework. This new UI will deliver quick and tailored user experiences with a fresh consumer look and feel and rich interactivity option for partners and customers. NetSuite has re-conceptualize how you choose data in the list by making it simple to see things that you have chosen, which is how the multi-select function works.
Growth is Evolution.
Riding on the infrastructure of Oracle, you’ll see a couple of new solutions emerging from the NetSuite platform. NetSuite will go global by launching the complete language support for helpdesk, email, phone and chat, which will be localized across 7 different languages. They are going local to the core by engaging in the local experience, localizing the product with taxes and other features and employing a local team to support customers. Who can better understand the culture and ways of living, but the locals.
In Brazil, which has the most complex of all the compliance markets around the world, NetSuite has implemented installment capabilities to transact with and pay your customers. WeChat, a platform for everyday life in China, will be expanding their capabilities into the Enterprise to address the future of expense reporting. When you scan your receipt, WeChat will communicate with the local government and return a formal Chinese invoice. WeChat at work, where the Oracle NetSuite expense reporting is deployed, will fill out information about the expense report. Once you submit, your manager will get notified on the phone and can approve directly from the WeChat. This will flow seamlessly into NetSuite.
Seven years ago, NetSuite announced that you’ll be able to pivot data in NetSuite, SuiteAnalytics is now on Beta. NetSuite has extended SuiteAnalytics with Queries, Pivot and Charts. Queries allow you to build your data, by choosing a couple of fields, joining multi-level, define data range and more. From this query, you drag and drop fields into the columns and rows just like the pivot in Excel but with even greater functionalities and easily customizable. You can also create almost all types of charts to get a visual design of the queries that you defined and dig deeper into your analysis.
Growth is Continuous.
In SuiteWorld’18, NetSuite has enhanced SuiteTax to handle any tax rule anywhere in the world but be really easy to use by non-accountants across your organization. It supports not only the key markets that were operating in but also the more complex markets like Brazil, China and India. With real-time tax determination in over 140 countries, it performs regular automated updates of those tax rates on an out-of-the-box reporting that allows you to have full audit ability and drill down to how taxes are calculated. It also gives you the ability to choose a NetSuite native tax engine or a Partner tax engine to be able to address tax regulations across all countries.
Growth is Discipline.
No matter where your business is done, your greatest asset are your employees. This is why NetSuite has invested so much in SuitePeople. This is a technology foundation that powers your HR organization in 3 ways: Enables Growth; Modernize HR; and Engage Workforce. With SuitePeople, you can review your existing headcount and KPI for employee turnover, and create job requisition to address turnover in the HR Dashboard & Headcount Snapshot. With the new integrated recruiting solution, Taleo Business Edition, can help you search for candidates and convert them to new hire. SuitePeople also has an Employee Boarding Solution to help new hires complete their onboarding checklist according to the timeline and resource assigned to them. Ultimately, employee is rewarded with compensation which is processed by SuitePeople’s Payroll.
Growth is Focus.
Over the years, NetSuite has found out that OneWorld customers, grow their business faster than non-OneWorld customers. And NetSuite is all about customer satisfaction. This is why continuing efforts have been made to enhance the capabilities of OneWorld to support you and your business growth around the world. It’s the foundation for everything that we’re doing and the center of the Suite. OneWorld 18.2 will automate transactions between subsidiaries. It will also automatically match the money received in your bank accounts to your receivables. It will also automate your monthly period end journal process and even allow reconciliation of non-bank accounts and other balance sheet accounts.
Going to the market by Verticals is how SuiteSucess will be put into play. These are pre-configured instances of NetSuite that is built on experience of working with many customers over the years who grow through enormous scale. Most customers will configure and customize on the edges but this one’s easy to consume and easy to grow with you. Simply just import your data, get a bit of training and get going. If you’re moving up to OneWorld from SuiteSuccess, you’ll be able to move up 50% faster and experience 60% faster implementations.
Last but not the least, Growth is Sharing.
NetSuite is not just about the product, not just about connecting but it’s also about giving back. Since SuiteWorld’18 is just 4 days a year and NetSuite want to keep the connections you’ve made and the relationships you built during that event, NetSuite officially launched Growwire. Growwire is a multimedia platform but essentially a website and toolkit of stories to help you grow your big ideas and your business. It will tell you stories from folks that have been in your shoes and share what their journey and learning on overcoming their challenges.
As you grow your business, it’s also helpful to look at what other peers in your industry have done. So Growlab was launched. It contains all statistics how growth numbers for industries and verticals compare to yours and how you’re doing. You can go in and plugin your numbers and see how youstack upagainst others in your group.
On its 5th year, Hackaton4Good have gathered around 75 customers, partners and employees to team up and solve the challenges of two non-profit organizations, Girls Scouts of America and Ability Center. NetSuite also supported and raised awareness for childhood cancer by getting 3,000 shares with #giveback2alex. With the 3,000 shares, NetSuite has pledged $50,000 which amounts to 2,000 hours of research and treatment for 100 children.
That wraps up the SuiteWorld’18. There’s a lot of great offerings from NetSuite. New innovations, some real cool and great stuff.
If you want to us to help you grow, contact our experts at Upaya- The Solution Inc.
To learn more, contact Upaya certified SuiteSuccess experts at @408-899-4577 or firstname.lastname@example.org
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