Our inaugural Annexa on Tour took on 4 cities in one and half weeks, to provide our Australian and New Zealand customers with an insightful exploration into the latest innovations and capabilities available in the NetSuite ecosystem. For those who couldn't attend, this recap covers the key topics and solutions, including why these developments are crucial for current NetSuite users.
2023 release updates recap
Guided Learning: NetSuite has introduced a new preference feature to help new users navigate their roles and specific pages more effectively.
Suite Answers 2.0: It's here, now with a chatbot and an abundance of additional content.
360 Analysis: It’s continuing to develop from its original place on the item, supplier and customer record. There are now standalone dashboard apps for projects, cash, and items. There are a number of other new enhancements being rolled out so its worth checking these dashboards for yourself.
Ship Central: The original pack station has been replaced. Or rather its been revamped to streamline the entire pick, pack, and ship process, making it more efficient for both WMS and non-WMS users.
Manufacturing Mobile: More features have been added to the SCM application which now offers more features, including standalone assemblies, custom field options, and componentry improvements introduced late last year.
Transaction Lines: This is a new app for seamless cost distribution at the time of invoicing.
NetSuite’s SuiteWorld announcements largely centred around the incorporation of generative AI within NetSuite and it’s clear this is part of a long-term strategy to support ongoing growth. You can read the full recap over here. But there’s a few we covered in some detail.
NSAW has been on our radar for a couple of years, in fact Annexa actively participated in the Beta program for its ANZ release. All All of us want to utilise our data more, find insights and making informed decisions without the hassle of managing data across multiple spreadsheets. Yet we still encounter many prospects who rely on data extracts from various systems, with a sole resource manually consolidating this data monthly or bi-monthly to assess the company's performance. We know this is slow but it’s also costing potential opportunities, in addition to the data preparation costs.
NetSuite's data warehouse is hosted within the state-of-the-art OCI facilities and comes equipped with an advanced analytics layer driven by AI/ML, all wrapped in a user-friendly interface.
NetSuite now offers an out-of-the-box connector that seamlessly transfers all NetSuite data to the warehouse. There are also connectors for numerous third-party data sources, with the flexibility to connect to even more based on your specific requirements.
Additional updates scheduled to roll out over the next 12 months, include:
While it’s still early days implementing NetSuite Analytics Warehouse, we’ve had a plenty of interest from customers. Here’s a snippet of our chat with Shae Young, CFO at Smithbridge Group on why they opted for NetSuite Analytics Warehouse.
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“We were looking for something that would integrate with a number of different systems. One of the key drivers for us moving forward was being able to empower our finance teams to create comprehensive reports, and provide management with accurate and timely information in a way that’s easily digestible.
TL;DR
NSPB gives businesses advanced forecasting and budgeting tools, enabling efficient financial planning and strategic decision-making within the NetSuite ecosystem. Like NSAW, it’s sparked a lot of interest among our customers - every organisation needs effective planning and forecasting tools. With NSPB, NetSuite customers can now access an enterprise-level state-of-the-art planning tool, move away from manual spreadsheets and get AI working for you/
Now, with NetSuite, customers can access a top-tier, enterprise-level planning tool, transcending the limitations of manually shuffling spreadsheets across departments. This advancement empowers businesses to leverage AI for strategic benefits beyond just receiving targeted advertising.
The integrated out-of-the-box connector efficiently transfers all structures, charts, segments, and actual data into the planning module. Our collaboration with Pivot2 Solutions, our strategic partner, has been instrumental in delivering this exceptional product.
TL;DR
NetSuite WMS optimises warehouse operations, offering features like real-time inventory management, efficient order fulfillment, and seamless integration with NetSuite's ERP system. Several enhancements are coming to the platform, each promising to increase efficiency, accuracy, and flexibility in inventory management.
TL;DR
The NetSuite Connector for eCommerce, an acquisition by Oracle a few years back, offers a specialised module that seamlessly integrates NetSuite with various eCommerce platforms , as well as for some point of sale and logistics systems. The connector ensures that critical information like inventory levels, customer details, order statuses, and product information is consistently updated and accurate across both NetSuite and the eCommerce platform. Plus, its tiered to suit different data flow requirements.
TL;DR
The addition of generative AI in NetSuite has ignited the team here at Annexa, so we took to discuss the marriage of AI and Cloud ERP and its impact on customers.
AI is increasingly being seen as a tool to enhance, rather than replace, workforce capabilities. In finance, for example, AI is being used to streamline operations, reduce manual errors, and offer intelligent recommendations. It’s also valuable when it comes to analysing large data sets for predictive analytics and forecasting. This is crucial for businesses in terms of planning and strategising, as AI can uncover trends, predict market changes, and provide insights that may not be immediately evident.
We’ve also been busy making use of AI too. We are actively exploring the integration of AI through the development of a custom ChatGPT bot within NetSuite. This bot is designed to assist users in various tasks, such as generating sales reports, simplifying complex data queries, and even writing code for specific NetSuite functions.
We are also looking at leveraging AI to assist in coding and scriptwriting within NetSuite. This involves using AI tools to generate code or automate parts of the development process. While still in the experimental stage, this initiative aims to reduce the time and effort required for custom script development and improve efficiency in problem-solving and support ticket resolution.
For all our AI experimentation, the focus is on practical applications that directly benefit our customers. This includes creating tools that not only automate tasks but also provide actionable insights and assist in strategic decision-making within NetSuite.