Software and internet companies are totally different from traditional businesses such as retail & distribution, manufacturing, hospitality etc. Hence, NetSuite for software companies can be a proven profitable deal.
Software firms are most often work with customers or vendors from different global locations and deals in different currencies with 24/7 client engagement and customer support. While understanding the unique requirements of software and internet companies,
NetSuite added several advanced functionalities in its new releases 2019.1:
Multi-Book Keeping Functionality
One of the complex problems of software companies is to manage entries in multiple books. Previously, this feature was missing. Now, NetSuite release 2019.1 has included the functionality to create and manage multiple adjustment books as well as to create instant report sheets based on.
Advanced Tax Solution by SuiteTax Reports SuiteApp
Today, software and internet companies face tax issues. For such type of companies, having global client base is a common thing and often their employees work remotely from different global locations. Considering this serious need, NetSuite 2019.1 resolved all the tax issues by introducing new country tax reports to SuiteTax. Through this, they can create localized tax reports for nearly 100 countries.
Administration Is More Secured And Powerful
NetSuite enhanced the security feature in its new release. There will be a two-factor authentication for every NetSuite account, roles can be assigned and can be viewed with customized access. Similarly, various reports and metrics can be accessed and utilized based on custom permissions or privilege decided by the administrator or the concerned person.
Handle Multiple Projects Simultaneously
When it comes to handling multiple projects at a single point of time, NetSuite release 2019.1 offers a scalable and flexible feature to seamlessly handle multiple projects and to bill each project accordingly using country wise currency converter. Also, there will be separate tabs to calculate total spent hours on each project. This supportive feature will ease the working of project managers.
Assign Job Modules More Seamlessly
No complexities have remained when you create project or tasks and assign the same to the individual resource or a group of resources. NetSuite release 2019.1 upgraded the functionality to create, assign, track, and forecast the project status and employees’ performance independently while saving precious time and efforts.
Timesheet Management Is No More A Typical Job
NetSuite’s new edition reduced the redundant fields from the previous timesheet and made it simple to fill and process faster. Your team can update their efforts spent on a particular project and overall tasks efficiently. Through this, project managers can effortlessly track the project status and perform forecasting.
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