NetSuite's latest platform updates include new centralized purchasing, email approval tools

Updates to the NetSuite platform are designed to enhance its financial, inventory management, automation, and analytics capabilities.

Oracle NetSuite on Tuesday announced the latest updates to the NetSuite platform designed to enhance its financial, inventory management, automation, and analytics capabilities. Key new features are focused on smart financials, centralized purchasing and billing, and email approval.

The new purchasing and billing features are designed to help multi-subsidiary businesses consolidate purchases, generate vendor payments from a single location, and automate cross-charges. 

A new email approval feature lets businesses approve purchases via an email link and also includes a log where approvals can be reviewed and audited before being updated in the system.

Meanwhile, new automated inventory management tools include a revamped touchscreen interface to streamline the packing process, as well as smart shipping capabilities that identifies products along the same shipping route for group packaging. There's also a new warehouse management system that NetSuite said improves wave picking, tally scans, cart put-away, and label printing.

On the analytics side, new SuiteAnalytics features include conditional formatting and native language support for SuiteAnalytics Workbooks, along with eight new interactive charts within Workbooks designed to provide HR leaders with more visibility into employee performance.

Evan Goldberg, EVP and founder Oracle NetSuite, held a media briefing on Monday to outline the new features and provide an update the NetSuite business. Goldberg said NetSuite saw 24% year over year revenue growth in Q3 and that it now has 542 partners in the SuiteCloud development network and more than 24,000 customers.

"We've accelerated growth and its really across all sectors," Goldberg said.

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