SuiteWorld 2021 is Oracle NetSuite’s annual conference for the NetSuite community. After being cancelled last year, this year’s event was held in Las Vegas, Nevada, from the 18-21 of October 2021, with attendees able to join both in person and remotely.
For over a decade, SuiteWorld has offered businesses the opportunity to come together to learn about the NetSuite experience and how they can leverage this powerful technology to transform and grow.
During the event, NetSuite unveiled a range of new tools to drive sales and improve cash flow. Below are some of the highlights:
New Tools to Increase Sales, Customer Counts
The new Customer 360 feature builds on the existing functionality of SuiteCommerce and NetSuite CRM to deliver all key information and insights on buyers in one place.
Customer 360 tracks behaviour and shows key performance indicators (KPIs) like customer lifetime value, customer profitability, year-to-date sales, remaining credit and other key numbers. A menu allows users to choose between categories, like sales and relationships, to find the insights they’re looking for. The goal of all this data, of course, is to help sales reps sell more.
New and Improved Supply Planning
In light of ongoing major supply chain disruptions, NetSuite rebuilt its supply planning function. Users can see the impact of multiple scenarios, like moving from a 3PL to in-house inventory management or using contract manufacturing.
In addition, a new planning workbench helps employees filter all these plans by item, product location, category and more so they can see what matters to them.
Infrastructure and UX Improvements
With the support of Oracle, NetSuite can now stand-up new data centres dramatically faster than it could before. That means more customers will be closer to data centres, reducing latency and leading to other performance gains.
Customers will be able to schedule their transition to Oracle Cloud Infrastructure (OCI) data centres to minimise disruption, and customers will soon be able to schedule major NetSuite version upgrades for a time that’s best for them.
NetSuite will adopt elements of the Oracle Redwood design to provide a user experience more similar to that of popular consumer apps.
Connecting HR to the Suite
NetSuite’s SuitePeople solution processes more than $3 billion in payroll transactions annually, but that’s not to say it’s just a payroll tool. Hanif Ismail, vice president of product management and strategy, showed how employers can quickly set up overtime rules with daily and weekly thresholds and parameters for holidays. As employees log hours, the payroll system then knows how to split up regular and overtime pay, and can even visualise this breakdown in a colour-coded schedule.
Setting up a 401K employer match is similarly straightforward, with the employer filling out just a few fields to provision that benefit.
Ismail explained that employee goals can be directly tied to work done within NetSuite. For example, when an employee makes 30 cold calls and records that activity in NetSuite CRM, that progress will be reflected in the goal to make 100 cold calls in a given week.
NetSuite founder and executive vice president Evan Goldberg was also at the event and shared three critical superpowers businesses need to succeed in today’s landscape — automation, insight and agility — and how new innovations from NetSuite can help.
In 2021 alone, NetSuite has rolled out 160 enhancements that customers requested. And that number will continue to rise, reflecting NetSuite’s commitment to resolving customer concerns.
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