NetSuite updates core capabilities, industry cloud offerings

Meanwhile, the Oracle SaaS business says its new partner initiative is picking up steam.
Written by Stephanie Condon, Senior Writer

Oracle NetSuite on Wednesday announced a series of new capabilities, including new industry-focused features, for the SMBs using NetSuite's cloud-based, back-office applications. The enhancements were announced during the Oracle OpenWorld conference, during which NetSuite also announced it's moving its operations to the Oracle Cloud Infrastructure

All told, NetSuite is rolling out more than 65 new and updated features to its core business management capabilities, spanning financial, analytics, HR, supply chain, project
management and commerce capabilities. 

Additionally, NetSuite is updating SuiteSuccess, a pre-configured industry cloud solution that's designed to help customers realize the benefits of the cloud in just 45 days. It combines deep domain knowledge with pre-built workflows, KPIs and dashboards. 

The SuiteSuccess updates include new vertical capabilities in more than 10 industries, including Restaurant & Hospitality and the Food & Beverage industries. Now, customers in a wider range of industries can access SuiteSuccess for Planning & Budgeting, which includes new data modeling capabilities. Additionally, SuiteSuccess for SuitePeople now offers new pre-configured roles, dashboards, and forms to help customers manage employees and employee records. 

More on industry cloud:

Here's a rundown of some of the updates to NetSuite's core capabilities: 

• Analytics: Enhancements to SuiteAnalytics querying, pivoting, and charting plus 17 new pre-built Industry & Role SuiteAnalytics Workbooks. 
• Supply Chain: The Supply Chain Control Tower now offers predictive risks, built on the Intelligent Suite Machine Learning and AI platform, to proactively spot and avoid problems. 
• Distribution: New warehouse management system (WMS) features, including the ability to optimize product allocation. 
• Advanced Project Budgets: New project budgeting capabilities, including the ability to create multiple versions of a budget plan.
• Commerce: New features include the ability to access sales and inventory insights based on merchandise attributes such as color, size or pattern. 
• Nonprofit: A new program outcomes feature allows nonprofit organizations to monitor the health of their key programs.
• HR: New SuitePeople features include an employee timeline to easily view key milestones, an improved payroll experience and an updated HR dashboard.
• Financials: Customers get new advanced banking data import features, as well as new multi-subsidiary management and accounting capabilities.

Meanwhile, NetSuite on Wednesday also touted the momentum of its new partner program, SuiteLife. The program includes training and tools around business functions, product areas and industries and is designed for  for resellers and partners to sell and deliver NetSuite in 90 days.

Since launching the program in April, NetSuite has had 38 new partners in North America join SuiteLife. Thirty percent of existing partners have now signed up for the program.

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