NetSuite For Services Companies Now Empowered With These New Features In 2020

NetSuite update 2020 for Service Companies

The services industry is considered as one of the most dynamic, versatile sectors among all, and change is the only constant here.

New business models for providing services are evolving as you are reading this, even as old and traditional models are getting replaced with new protocols. Client demands are transforming, and technology is becoming the core USP for agencies.

Cloud is slowly but gradually getting embedded with Digital marketing & ecommerce, giving birth to an entirely new world of ERP for the Services industry.

Oracle NetSuite, which is 100% powered by Cloud, and the world’s fastest-growing Cloud-based ERP platform has understood the evolving needs of the services industry, and has developed new, exciting features in 2020, which is changing the way services are being delivered, all over the world.

Here is a glimpse of the major changes which are empowering the Services industry in 2020, and beyond.

Smarter Analytics

The newer and bolder version of Oracle NetSuite for Services companies in 2020 has smarter, more diversified analytics, which is helping the management to make faster, smarter decisions. Managing project budgets has become more powerful, and automated cost calculations for projects help better management of the deliverables.

If you know when and how a project is going to be delivered, then it changes everything: You can control costs, manage resources better, and inform your clients in advance about the challenges.

Time Modification Enhancements

Calculating the billable time of the resources for a project is the Holy Grail for ensuring higher ROI and cutting losses. With the new Time Modification Enhancements, services companies can now audit the entire time-line of a project, time entries can be modified and the time changes can be made visible seamlessly.

This converts to higher productivity and higher ROI.

Enhanced Automation For Project Management

In 2020, Oracle NetSuite is now empowered with automatic calculation of key financial data, which makes project management even more seamless and productive.

When the system provides an automated and precise calculation of the cost involved in delivering a project, then the accuracy increases manifold, and the management has better control over the expenses.

Banking Integration Becomes Easy and Powerful

Bank Feeds SuiteApp and banking plugin with API support are the new features in the NetSuite for services companies, which makes integration of banking-related data seamless, and automated.

Intelligent rules engine is present to monitor, modify and track all banking related data being fed into the system, which results in enhanced matching, better insights and timely information for the management.

Along with these, the new, updated Oracle NetSuite for Services firms includes enhanced HR systems for supporting a number of bonuses like spot, referral, merit or custom; the ability to approve vendor bills by the employees based on access rights and more.

These enhanced features and capabilities enable Services firms to adapt to the new digital world, and use Cloud technology by Oracle NetSuite to manage their projects, employees, expenses and revenues in a better way.

For more details, feel free to use this link to schedule a no-obligation session with Inspirria, one of the leading Oracle NetSuite partners, to discuss your business requirements and expectations from Oracle NetSuite.