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This year, NetSuite hosted their biggest ever SuiteWorld in Las Vegas. If you missed out, don’t worry! In this blog, we will discuss the highlights, new releases and key takeaways from the event.
There was one key message throughout this years SuiteWorld: all systems grow. This refers to the need for a solid foundation that allows your business to survive throughout difficult times. Having adaptable systems like NetSuite in place to support your company’s scalable growth is more important than ever.
The event highlighted the latest innovations, including Redwood UI, AI-driven solutions, and a more interconnected ecosystem. Whether you’re facing turbulent markets or explosive growth, NetSuite has reinforced its position as a foundation for businesses.
Key Announcements at SuiteWorld 2024
Introduction of Redwood UI
One of the most anticipated announcements was the introduction of the Redwood User Interface (UI). This redesign is focused on improving user workflows and pain points. According to Oracle’s Senior Vice President of UX Design, Hillel Cooperman, the goal is to create a seamless, intuitive experience that simplifies complex interactions and boosts efficiency.
The key advancements include:
- Improved user experience: The redesigned interface incorporates natural language processing and customisable dashboards, enabling users to interact with the system intuitively and according to their unique preferences.
- Identify user requirements: Redwood’s design team has optimised the interface to address a wide range of user needs by analyzing workflows and pain points.
- Streamline intricate processes: Redwood enhances user experience by simplifying navigation and automating repetitive tasks, reducing friction for a more efficient and accessible system.
AI-Powered Tools: Ask Oracle and More
“Rather than spending time number crunching and going through existing data, Ask Oracle has the ability to deliver the answers for you.”
Another highlight from SuiteWorld was the expanded AI capabilities integrated into NetSuite:
- NetSuite Financial Exception Management: This tool uses AI to automatically detect and resolve financial discrepancies, ensuring accuracy and reducing manual workload.
- SuiteAnalytics Assistant: Users can now generate reports using natural language, saving time on data analysis.
- Oracle Code Assist: A feature that helps developers speed up the creation of customisations and extensions.
SalesForce Connector
Salesforce is a leading CRM solution favored by many businesses across various industries, especially in software and services. The recent announcement of a connector between NetSuite and Salesforce brings exciting news for users of both platforms. This integration allows companies to seamlessly manage key business operations, such as revenue recognition, order management, and subscription services, all within NetSuite.
With the automatic connector, businesses can streamline processes, improve data flow, and maximise the efficiency of their CRM and ERP systems, offering a more cohesive solution for growing businesses.
SuiteProjects Pro and SuiteProcurement
For professional services and procurement management, two notable product updates were introduced:
- SuiteProjects Pro: Formerly OpenAir, is a complete PSA solution for project accounting, costing, and reporting. It supports the entire project lifecycle with a cloud-based suite, offering real-time visibility and access to tools for delivering projects on time and within budget.
- SuiteProcurement: This tool enhances vendor management, helping businesses secure volume discounts and compare prices.
Webinar slides
Download the slides from the webinar to learn more about NetSuite's product updates.
Success Stories: Vitalize and PRx Performance
SuiteWorld also featured inspiring customer success stories.
- Vytalize Health experienced staggering growth of 90,000% over three years. By leveraging NetSuite, they were able to streamline processes and reallocate resources to more strategic areas, helping them manage their rapid growth.
- Similarly, PRx Performance pivoted during the COVID-19 pandemic, shifting their focus to home gym equipment. By accelerating their NetSuite implementation, they were able to scale up quickly, capitalising on increased sales driven by changing consumer demand
The Power of Planning for Growth
A key takeaway from the event was that businesses should implement scalable systems early. Waiting until growth happens to introduce new systems can lead to unnecessary challenges. Instead, implementing flexible solutions like NetSuite before a growth phase ensures a business is prepared to handle rapid expansion efficiently.
Conclusion
SuiteWorld 2024 reaffirmed that NetSuite continues to evolve, offering businesses the tools needed to manage day-to-day operations whilst also to supporting and driving growth. The introduction of AI capabilities, a refined user interface, and enhanced project and procurement tools are all aimed at helping businesses become more agile and efficient.
If you’re looking to grow, now’s the perfect time to invest in NetSuite—a system designed to scale with your business. Its wide range of tools makes it an essential partner for tackling both the opportunities and challenges that you might face.
To streamline this process and ensure that NetSuite is properly configured and optimised to address your specific challenges, consider using a NetSuite partner like MacroFin for assistance with the implementation. Additionally, MacroFin collaborates with Kolleno, an AI-driven AR management platform that seamlessly integrates with NetSuite. Kolleno allows you to manage any invoice volume with its advanced AI solutions. Recognized as the top-rated AR management platform on G2, Kolleno is known for its expertise in accounts receivable management and outstanding customer support.
Would you like to learn more? For more information on the key takeaways from SuiteWorld 2024, watch a summary of our webinar produced with Macrofin, available for free below:
About Macrofin
MacroFin revolutionises business operations with its expert financial and technology solutions, specializing in NetSuite implementation and optimisation. From initial consultation to ongoing support, MacroFin ensures a smooth, cost-effective transition to NetSuite, offering tailored services that boost adoption rates and empower teams to drive long-term success.
About Kolleno
Kolleno is an all-in-one AR management platform, seamlessly integrated with NetSuite. It offers a comprehensive suite of tools to automate invoice tracking, payment reminders, and collections, making it easier for businesses to manage their cash flow. Founded with the mission to help businesses get paid faster, Kolleno leverages the latest and most advanced technology, including AI and machine learning, to bring efficiency to AR management.
