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NetSuite is the Right Choice for Services Firms’ Productivity and Profitability

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NetSuite 2021 Release 2 steers unmatched productivity and profitability for professional services. Most services firms have experienced stagnant growth due to the COVID-19 pandemic. This year, it’s time to optimize the operations, make the most of the adaptive technology to re-gain the lost track and seize elevating growth trajectory. NetSuite for Service Industry is embedded with inventive tools and applications to profoundly execute this vision.

SPOTLIGHT

NetSuite 2021 Release 2 delivers extensively orchestrated features that help eliminate key bottlenecks in driving operational efficiency. This SaaS ERP for Service Industry helps you become more productive and deliver projects profitably around the globe. Right from improved project tracking to planning tools to billing, this latest release helps services companies reap a high business advantage in an expanding market.

Highlights

  • Access to Info Across Sales Cycles and Purchasing Process
  • Fixed Timeline and Fixed Rate for the Implementation
  • Data Migration and Data Import using CSV Tools
  • Extensive Configuration for Parent and Subsidiary Accounts
  • Increased User Adoption and Speedy Time to Value
  • Extended Access to Global Support and Optimization

Service firms can make the most of this opportunity by staying on top of trends, including delivering services remotely. NetSuite offers a clearly defined set of processes to follow that are coupled with industry-specific configurations to keep up with fast-changing client demands.

Noteworthy Enhancements

Optimized Project Management

  • A more intuitive and interactive user interface for managing tasks and overall projects
  • NetSuite 2021 Release 2 comes with an advanced interface that improves usability
  • Project managers can avail of better visualization of project status throughout its lifecycle
  • Now, users can add project managers as an ‘Approver’ in SuiteApprovals. They can review, approve, and reject project-based transactions
  • Project leads can grab more control over project budgets, expense reports, purchase orders, vendor bills and add flexibility to the approval process

Advanced Financials

  • Increases account receivable efficiency and reduce payment cycles
  • Project leads or Finance managers can send email or mobile invoices to customers with a payment link
  • Secure and safe online payment portal with multiple payment methods and options available as per the business’s rules
  • Consolidate purchase requisitions across subsidiaries in addition to purchasing and billing
  • Automatic cross-charge of cross-subsidiary transactions to balance intercompany accounts
  • Simplified multi-subsidiary businesses management
  • Receiving of purchased items at the target subsidiary
  • Automatic G/L payments creation and synchronization of payment processing
  • Elimination of manual tasks, better insight into cash flow, and shortens days sales outstanding
  • Setting up budget natively in NetSuite

Active Employee Engagement

  • Rules-based formulas for calculating employer match amounts
  • Automatic update across employer matches when employee contributions change
  • New enhancements cover age-matching calculations for employees over 50 and automatic calculations of catch-up amounts (if eligible)
  • Services firms can remain compliant with IRS retirement plan contribution limits and prevent employees from over-contributing as well

For the most part, NetSuite, a subscription billing software and a cloud ERP with GST, offers multiple tools to aggrandize professional services automation. This NetSuite 2021 Release 2 for Service Industry delivers the inventive capabilities to analyze trends and adapt to the evolving business landscape efficiently. It helps enhance data integrity and increase the accuracy of the reports as well.

There is a lot more to comprehend across NetSuite Planning and Budgeting Tool, certainly, the space is limited to dig deep into its elemental capabilities. A certified NetSuite Partner in India can let you explore it across all the major verticals, be future-ready with advanced solutions, and unveil opportunities to lead the competitive edge.

Serving in the field of cloud computing solutions for more than a decade, inoday has won accolades for its exemplary services, willingness to respond, and industry-specific expertise to do away with operational bottlenecks. As an accredited # 1 Oracle NetSuite Partner in India and recently acclaimed as India’s Top Solution Provider by NetSuite, we would assist you in executing your business vision efficiently and driving unrivaled scalability.

inoday is always committed to progress and innovation.

For more queries, connect with our dedicated team at +91 120 432 9327

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