Sneak Peek Into NetSuite’s Upcoming Update!

We’re excited to share a sneak peek of the NetSuite enhancements rolling out this October. NetSuite delivers these updates twice a year to all subscribers, which is just one of the many perks of choosing NetSuite as your ERP. Over the next couple of months, we’ll be dropping more details and sneak peeks, so keep an eye out for all the great stuff coming your way!

Optimization of Cash Management updates

  • NetSuite’s partnership with a new financial aggregator with connections to over 14,000 financial institutions through the Bank Feeds SuiteApp. It also provides Open Authorization (OAuth) connections to over 700 banks, allowing for a stable, secure connection with less frequent re-authentication.
  • NetSuite SuiteBilling now includes prepay functionality. Companies with a consumption-based pricing model can now charge in advance for services that customers consume throughout their contract period. This release also integrates NetSuite CPQ (Configure, Price, and Quote) with NetSuite SuiteBilling, allowing companies to include subscription items for products or services in the configuration process.
  • A new interactive task management feature in NetSuite Account Reconciliation builds on the close functionality already in NetSuite, providing accounting teams with a centralized place to create, assign, manage, and monitor tasks around the financial close.  The task management feature enables companies to close their books faster, ensures tasks are executed in the proper sequence, and reduces the time spent on handling exceptions.  Providing more time for business owners and accountants to focus on their other critical tasks for the business.
  • In NetSuite AP Automation, companies with multiple US subsidiaries will have the ability to automate vendor payments for each subsidiary.
  • AI-powered enhancements in NetSuite Bill Capture improve matching capabilities compare additional values from purchase orders and provide variance alerts. The latest release also includes increased control and accuracy with NetSuite Bill Capture so companies can capture vendor invoices quickly with fewer errors. When viewing the scanned vendor list bill page, users can now upload bills with up to 30 pages and delete failed uploads to help keep the scanned vendor bills list organized.
  • The Cash 360 SuiteApp now incorporates installment schedules defined on invoices and vendor bills to facilitate more accurate forecasting of accounts receivable and accounts payable.

Currently, the Zastro team is learning all about the enhancements and preparing to share how you and your company will benefit from the updates.

Not currently a NetSuite user but want to learn more about how NetSuite can help your business with cash management?  Let’s talk!