NetSuite Upgrades for Multi-National Companies with Multiple Subsidiaries
Finance-Related Updates
Payment Automation Enhancements
- Support for Multi-Subsidiary Feature: Payment Automation SuiteApp now supports multiple subsidiaries, enabling multi-national companies to apply for HSBC accounts in each US subsidiary and process payments from them.
- Vendor Prepayment Support: Allows the creation and processing of vendor prepayments through the Payment Automation SuiteApp.
- Payment Status Tracking: A visual status tracker is now included in the Bill Payment record to monitor payment statuses.
- Automation of Monthly Fees and Charges: Automates the recording of transaction fees for monthly invoices, saving time on manual entries.
- Reprocessing Payments: Allows reprocessing of payments that encounter issues without needing to void and reinitiate them manually(ReleaseNotes_2024.2.0).
CNAB 240 Delivery Files
- Support for Multiple Subsidiaries: Allows inclusion of transactions and installments associated with multiple subsidiaries when generating CNAB 240 delivery files(ReleaseNotes_2024.2.0).
- Transaction Inspection and Supply Chain Management
Quality Management Enhancements
- Inspection Generation Including Parent Transaction: Enhanced capabilities to generate inspections including parent transactions.
- Updated User Interface and Compliance Enhancements: Streamlined UI for better usability and compliance.
Supply Chain Management Mobile Enhancements
- GS1 Support: Enables scanning of GS1 barcodes to populate lot numbers, serial numbers, expiry dates, and quantities during production processes.
- Enhanced Machine and Labor Start-Stop Capabilities: Allows simultaneous handling of multiple work orders or operations, improving efficiency(ReleaseNotes_2024.2.0).
- Business Process Enhancements
Benchmark 360 SuiteApp
- Industry Benchmarking: Allows parent companies to benchmark key performance metrics such as Days Cash on Hand, Days Sales Outstanding, and Revenue per FTE against industry standards across subsidiaries.
- Performance Comparison: Enables performance metric comparisons across different subsidiaries mapped to corresponding industries and regions
Order Management SuiteApps
- Fulfillable Items with SuiteBilling: Supports the consolidation of billing and fulfillment processes for subscriptions with fulfillable items, beneficial for companies providing products like modems with services.
- New Ship Central Capabilities: Enhances order management with new shipping capabilities.
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