What You Need to Know about the Latest NetSuite Release
Key new features include: new functionality to streamline and automate financial operations, the debut of SuiteProjects, enhancements to inventory management, and new analytics capabilities.
The NetSuite upgrade is on a rolling basis, starting in January 2021 through April 2021. Log in to your dashboard and check out the new release portlet to learn more about your upgrade date, see sneak peeks and more regarding the new NetSuite release. Contact us with questions.
2021 NetSuite Release Schedule
NetSuite 2021.1: NetSuite customers will be updated in phases, with the first phase likely starting in February 2021 and the final phase in April 2021. Learn more about your upgrade date by checking out the new release portlet on your dashboard. Before upgrading, test out new functionality and tools in the release preview.
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Oracle NetSuite 2021.1 Release Highlights
NetSuite release 2021.1 includes new financial functionality, including centralized subsidiary purchasing and billing consolidating purchases across multi-subsidiary organizations and generating vendor payments from a single location. This release also introduces expense commitments and budget validation, as well as more flexible and quicker transaction approvals. Additionally, the ability to automatically create and post transactions directly from imported bank data is available, which increases efficiency and simplifies tedious reconciliation tasks.
NetSuite 2021 Release 1 brings the debut of SuiteProjects, a professional services automation solution built natively on NetSuite. Project managers have increased visibility and automation functionality by initiating purchases directly from projects. Set limits for individual expense lines for expense report policies are expanded, which ensures alignment with company policies and client contracts. In addition, the ability to easily correct weekly timesheets before they’re approved is now available.
With the introduction of the NetSuite Pack Station, an extra layer of verification is in place before orders are shipped. New enhancements to the Warehouse management system (WMS) are also included in the release. Order allocation by channel is enabled, which leads to leads to better tracking of sales and operations activities. Lastly, the new supply allocation against blanket PO feature is introduced with increased order accuracy.
New application performance management (APM) dashboards are implemented to help monitor and analyze the health of REST web services-based integrations. With new internationalization and localization tools and processes, the NetSuite user and administrator experience can feel local for global businesses operating in any country. SuiteScript APIs have been made more powerful with easier application, as well as the ability to work with significantly larger data sets. Learn more.
New features for manufacturing, wholesale distribution, software, retail, services, advertising, media and publishing and nonprofit organizations. Learn more.
LISTEN: NetSuite Version 2021.1 Highlights Overview
Previous Release Information
NetSuite Release 2020.2
Key features included: prebuilt SuiteAnalytics Workbooks, simplified intercompany management functionality, new employee management tools. Learn more about enhanced tools and new functionality in the NetSuite 2020.2 release notes.
NetSuite Release 2020.1
Key new features include: new banking SuiteApp, SuitePeople enhancements, extended Supply Chain Control Tower capabilities, new project lifecycle and financial management functionality, and industry feature highlights. Learn more in the NetSuite 2020.1 release notes.
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Terillium is a certified NetSuite Solutions Provider. Our certified consulting team helps businesses with NetSuite implementations, enhancements and optimizations, and SuiteAssist – a managed services program specifically for NetSuite users. Whether you need assistance with your NetSuite upgrade, want to take advantage of new functionality or have issues to resolve, Terillium can help.