This Is How NetSuite 2019.1 Release Empowers General Businesses: Top 5 Features

NetSuite, which is widely regarded as World’s 1st Cloud computing company has revolutionized businesses since 1998 when it made its debut. Using Cloud computing as the catalyst, NetSuite simplifies complex business processes and enables the management to focus on the core-tasks.

 

The only USP of NetSuite is that it understands businesses as no one else can, and this is the reason that its Cloud-based modules such as ERP, CRM, eCommerce, Accounting, HRM and others can prove to be so beneficial for every business.

 

In their path to innovation and improvisation, NetSuite has released their latest NetSuite 2019.1 version, which promises even more features, more capabilities, and more simplifications for businesses, all across the globe.

 

Here are 5 powerful features in the NetSuite 2019.1, which changes everything:

 

Automatic Tax Rate Updates

 

As part of the NetSuite 2019.1 update, users can now access the next-generation tax engine, called SuiteTax. Among other notables features, this new tax engine has the capability to automatically get updated with the latest tax rates, applicable in more than 100 countries.

 

Now, the business owners are no longer required to catch up the sales tax rates, VAT, excise duty etc for different countries, and simply use SuiteTax to automatically determine, calculate and report their taxes, without any hiccups.

 

US-Based Sales Tax & Use Tax Simplified

 

Companies which are required to comply with US-based Sales and Use Tax had to face some complications earlier, due to the complexities of the tax rules. But not anymore. With the new 2019.1 update, NetSuite has included a dedicated page for handling these specific taxes and simplified the whole process.

 

Now, you can easily check which products are exempted from these taxes, automatically determine how much tax you need to pay after the exemption and report the applicable tax in a click.

 

SuiteApproval Automates Approval Process

 

Good news for business in which there is a long hierarchy for taking approvals for various tasks such as procurement, payments etc. In the latest NetSuite 2019.1 release, SuiteApproval module has been added for all businesses, which makes the approval process literally a cake-walk.

 

Roles such as Super-Approver and Skip Approval has been added, which induces more flexibility and more transparency in executing the approvals or skipping them. Infact, with SuiteApproval, managers can now assign specific procurement activities such vendor bills, purchase order etc to specific team members or the entire team.

 

Project Management Made More Powerful

 

This new feature will be appreciated by the services industry, where more often than not, resources are scarce, and piling pending tasks. In the NetSuite 2019.1 release, a new feature called Resource Group has been included in the Project section, which makes human resource planning a lot easier, and more efficient.

 

With this, the management can assign and re-assign the resources to different projects quickly, and without any delay. You can even calculate the ROI of your resources based on hours logged in or simply based on the tasks completed.

 

Clean, Simple But Sharp UI For Increased Productivity

 

NetSuite 2019.1 release makes the overall User Interface and User Experience seamless, and uncluttered. The new stunning look and feel of NetSuite can deceive you into assuming that its not a Business management suite, but a consumer-grade application.

 

Say goodbye to plain old menu-based UI, and say hello to modern, clean and sharp visual design which will certainly help to increase your overall productivity.

 

You have to see it, to believe it.

 

We at Inspirria are 5-star Oracle NetSuite partner, and we can help your business adapt to the NetSuite easily. For more details, visit us here.