Service Companies Become More Productive, More Flexible With NetSuite Release 2019.1

When it comes to service companies like consultancies, agencies or IT service providers, then ‘change’ is the most important aspect of their business.

Business dynamics get changed frequently, and the teams have to adapt to new realities swiftly.

Resources are often scarce, and client demands overwhelming. Generating new business is the key to survival, and meeting client’s expectations the rule of the day.

NetSuite, the world’s one of the most powerful Cloud-based business management suite perfectly understands the niche requirements of services companies, and have designed a comprehensive suite of products and features specifically for them.

With NetSuite Release 2019.1, there have been some exciting updates which will enable service companies to do even better, and become even more productive.

Checkout the top 5 updates in NetSuite, specifically customized for services companies:

Quickly Create New Projects

In the professional services automation area, NetSuite Release 2019.1 takes into account the way projects are managed and have added powerful features to induce more flexibility for the management.

Now, a new project can be created directly from an Opportunity or Estimate, using a template or an existing item and tax structure. This new way to create projects work the same way as creating new projects from sales orders. This new way to create projects saves time as the data flow becomes seamless, and your teams will become more productive.

Resource Management Become Powerful

Allocating resources for a project becomes a lot easier, and fast with this new update under NetSuite Release 2019.1.

Now, the management can assign new tasks under a project to individual members in a team, or a collective assignment can be made to a team. The new features also enable allocating hours for a project both ways: either individual members can be assigned the available hours or the entire team can be assigned a fixed number of hours, which can be then monitored separately for optimized productivity.

Support For Hybrid Business Model

Services industry is evolving, and the concept of a hybrid business model is taking over, wherein a project manager not only handles resource and hours but also vendors, suppliers, and their expenses.

The new NetSuite Release 2019.1 takes into account this new concept of hybrid business model, and enables the project manager to handle purchase orders, vendors bills and their payments right at one location.

Reduce Administrative Overheads And Save Time

Timesheet reporting can consume a lot of time for the team, but it cannot be avoided as well. With the new NetSuite Release 2019.1, team members can fill out timesheets more quickly, as irrelevant entries have been removed, thereby making the process of filling timesheet faster.

Project tracking and forecasting become easier with this new, revamped timesheet.

Better Understanding Of Employees

Employees are the pillars of any service-based industry, and unless the management acknowledges that, there will be always discrepancies in productivity and potential. NetSuite Release 2019.1 brings several interesting updates in the HR Management process of service companies which will enable the HR to know their employees in a better way.

New Employee Status Categories have been added which can be used to track an employees’ transition from day 1, and thus, optimally manage them for maximum productivity. Time-Off expiry alerts have been added for more control, and reducing unproductive hours.

Planning to embrace NetSuite for your services company, but have no clue where to start? Inspirria Cloudtech is here to help you! Contact us today to find out how NetSuite can transform your business, and why we are a 5-Star Oracle NetSuite Partner.