NetSuite Release 16.2 Offers Improved Subscription Billing, Bin Management and More - The Blytheco Blog
NetSuite Release 16.2 Offers Improved Subscription Billing, Bin Management and More

NetSuite Release 16.2 Offers Improved Subscription Billing, Bin Management and More


NetSuite has announced the new features and functionality available in their Release 16.2 coming out very soon, and we’re pleased to say that the NetSuite SaaS solution will now have some exciting new offerings for billing, manufacturing, finance, and more.

Here’s a brief outline of what you can expect in the updated NetSuite ERP:

Billing Features

SuiteBilling offers improved subscription billing

  • Robust subscription billing
    • Invoice subscription customers
    • Manage subscriptions
    • Use transaction or usage-based rate models
    • Revenue Arrangements ensure correct revenue recognition
    • Allows one-time and recurring billing, flexible rate plans

Note: Available only to early adopters to start

  • Improve Billing Flexibility with Billing Rate Cards
    • Enhanced billing flexibility drives ease of use
      • Tailor billing rates per customer
      • Create multiple rate cards per customer
      • Consolidated view of billing rates
    • Optimize rate cards across eco-system of customers and projects
      • “Once and done” creation
      • Avoid proliferation of rate card entities

NetSuite 16.2 Bin Management Screen

 

 

 

 

 

 

Manufacturing Features

  • More Flexibility and Control in Managing Your Supply Chain
    • Added flexibility and improved accuracy processing transfer orders
      • More flexibility to ship and receive against transfer order when using item cost as transfer price
      • Reduce data entry and errors for Cost Accountants
      • Inventory cost properly valued on accounting books
      • Enables partial fulfillment
    • Increased control, flexibility and productivity while managing on-hand inventory
      • Schedule the commitment of inventory against more attributes
      • Get more time to handle exceptions
      • Reduce manual processes
  • Supply Chain—Make Informed Decisions with Estimated Landed Cost
    • Improve decision making with new estimated land cost
      • Automatically apply landed cost
      • Discover the true cost of a product
      • Get insight into financial performance
  • Efficient Inventory Replenishment to Avoid Stock-Outs
    • Replenish inventory with transfer order, intercompany transfer order and withdrawal
      • Track inventory across whole ecosystem
      • Single view of all potential locations to distribute inventory to, or pull from
      • Maximize efficiency and reduce costs
      • Optimize inventory replenishment
      • Meet expected service levels for demand fulfillment

Financial Features

  • Simplify and Speed Up Financial Closing
    • Speed up financial closing process
      • Reopen old periods and make changes
      • Quick Close Enhancement – Complete several closing tasks with one click
      • Close all periods in one batch
  • Unlock Value of Global Businesses with a Flexible Statutory Chart of Accounts
    • Enhanced support for statutory Chart of Accounts
      • Additional flexibility when setting up statutory Chart of Accounts
      • Create second ledgers and sub-accounts within group legal entities for individual countries
      • Meet local GAAP reporting requirements

Mobility Features

NetSuite 16.2 Mobile Expense Approval

    • NetSuite Mobile – More Control and Flexibility
                  • End to end mobile approvals management
                        • Approve expense reports and purchase orders
                        • My Approvals portlet
                        • Drill down from list pending approval, or individual notifications (iOS only)
                        • Optimized user experience for reviewing expenses/receipts and purchases

 

 

These are a few of the new features and upgrades available in NetSuite Release 16.2. If you’d like to learn more, contact us today for a live demo of the system by one of our NetSuite consultants, or to arrange your NetSuite Free Trial.

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