Top 16 features in the NetSuite 2021 Release 1 you need to check out now!

Top 16 features in the NetSuite 2021 Release 1 you need to check out now!

The NetSuite 2021 Release 1 is here! NetSuite rolls out its updates bi-annually, offering upgrades, new features, and bug fixes. And 2021’s first update is all of this and much more. Packed with intelligence and automation to help your business gear up for more growth and success, the NetSuite 2021 Release 1 also offers an array of industry-specific enhancements.

Read NetSuite 2021 Release 1 notes here.

List of Top 16 Features in NetSuite 2021 Release 1:

  1. Expense commitments and budget validation
    Don’t fret about being on top of your budgets! With NetSuite’s latest edition, get instant alerts when you cross your spending/budget cap, compare actuals vs budget, and control overspending by validating purchase requests and orders against the organization’s available budget.

  2. Set limits for every expense line in a project
    Control costs and get a better handle of budgets with the expense reports spending control feature. Set a cap for expenses at the line item level and based on billable items, effectively control policies.

  3. Centralized Subsidiary Purchasing and Billing
    Simplify the management of large inter-company transactions with Centralized Subsidiary Purchasing and Billing. Reduce purchase order volume and automate corresponding cross-charges by consolidating purchases across multiple subsidiaries and generating vendor payments from a single location.

  4. Global Bank Feeds
    It’s time to simplify tedious reconciliation tasks with the new Global Bank Feeds feature. Automate the financial data import process from banks based in Australia, New Zealand and Asia with the Bank Feeds SuiteApp, and maximize business efficiency.

  5. NetSuite Pack Station for speedy and accurate shipping.
    With the new touchscreen interface of NetSuite packing solution, gain full visibility into items and orders packed across multiple cartons/pallets throughout the packing process, easily manage multi-level packing, consolidate shipping routes and packing times for picked items, and save on reshipping costs triggered by erroneous packing.

  6. Project Purchase Automation
    Attention Project Managers! With NetSuite’s latest feature, initiate purchases from projects and gain greater transactional and approval visibility. Better yet, easily collaborate with teams and get visual representations of purchase-related project deviations and benefits.

  7. Instant Email Approvals with SuiteApprovals
    Save your precious NetSuite license dollars with the new Email Approval feature in SuiteApprovals. Review, approve or reject transactions on the go, through email

  8. SuiteProjects
    **Drumroll please** SuiteProjects is here! Gain complete control over your projects and billable resources. A comprehensive platform for service businesses, SuiteProjects packs in all the goodness of project budgeting, resource management, project accounting, and project management in one go.

  9. Edit and correct weekly timesheets before approval
    With the click of ‘retract’ button, easily edit and update weekly timesheets before approval and save the approver’s and employee’s time.

  10. Channel allocation for orders and inventory reservation
    With the new layer of order management intelligence, allocate orders by channel and reserve inventory in advance of the sales order. Improve sales/operations tracking, order fulfillment and significantly boost customer satisfaction with this latest feature.

  11. Application performance management (APM) dashboards
    Stay on top of your REST-based integrations. Track and analyze the health of your REST web services-based integrations with the new application performance management (APM) dashboards, launched in the latest NetSuite release.

  12. Supply allocation against Blanket POs
    Say yes to fulfilling orders accurately and efficiently. With this new feature, easily identify and assign blanket POs across locations, based on earliest availability and required-by date.

  13. Localize NetSuite for your international business
    Looking to prepare a report for your international office through SuiteAnalytics? With native language support for SuiteAnalytics workbooks, localize a wide range of fields, and gain extended support for analytics development and automation.

  14. Advanced enhancements to Warehouse management system (WMS)
    Save time with the latest additions to NetSuite WMS! Features include mobile operated options like cart moves for received items, inventory status change, and generation and release of waves for single orders. Additional features include bulk order picking, the ability to schedule the release of wave transactions for sales/transfer orders, pick reversals, automated label printing, tally scans for faster barcode scans, mobile label printing, and much more.

  15. Asynchronous coding techniques and Chrome debugger support for SuiteScript
    NetSuite Developer life is now made easy with the new asynchronous coding techniques feature, to help work on larger data sets. Gain better support to test and debug applications without leaving browser context with native Chrome debugger support for SuiteScript.

  16. Powerful SuiteScript APIs
    Develop applications, customize projects, and secure highly confidential information efficiently with the power-packed SuiteScript APIs.

With the NetSuite release preview account, you can easily test out existing workflows, customizations and new enhancements, to identify any potential impact on your business. A schedule to inform about NetSuite account upgrades is also in place, that notifies users when their account is scheduled for a transition to the new release.

At NetDynamic, we specialize in offering the latest NetSuite release implementation, training, and beta testing services, based on your specific business requirements and industry vertical.  Gain maximum value from your NetSuite investment with NetDynamic. For details and questions on the NetSuite 2021 Release 1 and how we can help adapt it to your business, reach us at 1-888-232-3319 | info@netdynamicinc.com.

NetDynamic Consulting is an Official NetSuite Alliance Partner comprising of business professionals, CPAs, and MBAs, dedicated entirely to NetSuite, helping businesses get the most out of their NetSuite investment. With several implementations and post-Go-live engagements across industry verticals backing us, we are the absolute NetSuite pros, committed to scaling businesses. Get in touch for a Free Consultation to see how we can implement and enhance your NetSuite instance.

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