Staria’s annual NetSuite Day was held on September 15th for the fifth time – this time, however, in slightly different circumstances than in previous years. Due to the Covid-19 pandemic, the event was held as a two-hour online version. The event gained a record number of registrations – more than 300 people from around the world signed up for the event! In previous years, NetSuite Day has been organized as a full-day live event.
The Day’s first keynote was held by James Chisham, Senior Director of International Products, Oracle NetSuite. Chisham is responsible for developing NetSuite in EMEA and his topic was ”What’s new & Next in NetSuite.” Informative keynote includes a quick sneak peek to NetSuite 2020.2 release and insight about Industry trends and strategies that guide the development of NetSuite. NetSuite 2020.2 consist a lot of new features, so we are organizing a webinar about the topic on 15.10.2020. The webinar is free and open to everyone. More information here.
Act global, be local
Chisham started his keynote with explaining NetSuite’s “act global, be local” strategy. This mindset means that NetSuite is thriving to deliver rich set of global features that enables businesses to grow, while still providing features to meet local needs.
Responding to Industry Trends
Chisham went shortly trough some trends that are appearing in the industry. There is a strong drive towards automation (e.g RPA and AI) and a continued focus on financial planning and analysis. These trends place certain demands on ERP-systems.
Chisham states, that the direction that they’re developing NetSuite into, is already visible in the latest NetSuite releases. They’ve focused to grow the technology by focusing especially into the User Experience, Analytics and Platform parts. According to Chisham, one important part of NetSuite’s strategy is its wide Partner Ecosystem, that for example Staria is part of. This allows NetSuite to focus on the things that are right and most important to them.
NetSuite 2020.2 release and new features
Chisham introduced roughly the new features that came with NetSuite’s newest 2020.2 release. He went through following topics:
• Seamless Banking Integration and Intelligent Bank Reconsciliation
• Bank Feed Integration for Businesses outside of USA and Canada
• Auto-Create Posting Transactions from Bank Imports
• Expense Report Credit Card Integration
• Expense Report Policies
• Project Manager Notifications
• Invoice Grouping (one of the most requested features)
• Intercompany Cross Charge Automation
• Intercompany AR/AP Netting
• Cross Subsidiary Receipt
• Intelligent Predicted Risks for Sales Orders and Purchase Orders
If you want to know more details about these new features, watch Chisham’s whole keynote from below and/or register to webinar mentioned in the beginning of this article.
Future – what comes next?
NetSuite is constantly looking ahead. At the end of his keynote Chisham focused on the future of NetSuite – what kind of things and features are coming up next. NetSuite has new releases twice a year and the eyes are already on the next step. In this part especially automation, AI, RPA and machine learning was highlighted.
We thank James Chisham for his informative presentation. f you want to see the whole event and other NetSuite Day speakers too, click here.