# NetSuite Industry Innovations Help Businesses Accelerate Growth
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2018-04-25
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: NetSuite Unveils New Industry Cloud Solutions
Meta Description: Discover the latest innovations in finance, HR, supply chain and data analytics to drive growth, reduce costs and achieve cloud computing benefits.
URL: https://financedigest.com/netsuite-industry-innovations-help-businesses-accelerate-growthhtml

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**New industry-specific solutions, finance, HR, supply chain and data analytics transform and improve business operations**

Oracle NetSuite today announced a series of new innovations to help organizations across industries drive growth, reduce costs and quickly and easily achieve the benefits of cloud computing. The latest innovations within the NetSuite platform include new SuiteSuccess industry cloud solutions, enhanced financial management, HR and supply chain capabilities, new innovations for product and service companies, and a powerful new data analytics solution.

[Successfully growing a business](https://www.financedigest.com/why-seo-is-crucial-for-business-success-post-pandemic.html "Why SEO is crucial for business success post-pandemic") has never been harder. New technologies, [rapidly shifting consumer](https://www.financedigest.com/demand-for-automotive-gas-charged-shock-absorbers-market-to-be-fuelled-by-rapid-shift-in-consumer-perception-and-increasing-awareness.html "Demand for Automotive Gas Charged Shock Absorbers Market to be Fuelled by Rapid Shift in Consumer Perception and Increasing Awareness") expectations and evolving industry regulations continue to change the game. For business leaders, this can feel like a no-win situation, particularly as competition continues to increase and results are under the microscope. The latest [innovations from NetSuite help business](https://www.financedigest.com/disruption-and-innovation-four-predictions-for-the-business-landscape-in-2016.html "DISRUPTION AND INNOVATION – FOUR PREDICTIONS FOR THE BUSINESS LANDSCAPE IN 2016") leaders navigate this change, overcome the barriers to growth and successfully scale by delivering industry best practices, new customer engagement models and business optimization methods, more than 20 major enhancements to core business applications and powerful data processing and visualization capabilities.

“Many companies are able to get their [businesses](https://www.financedigest.com/how-technology-can-support-insurance-business-growth.html "How technology can support insurance business growth") up and running only to struggle when the time comes to reach the next stage of growth,” said Jim McGeever, executive vice president of Oracle NetSuite. “With [continuous innovation](https://www.financedigest.com/the-bone-and-joint-health-supplements-market-growth-is-to-be-defined-by-innovation-continuously.html "The Bone And Joint Health Supplements Market Growth Is To Be Defined By Innovation Continuously"), we give our customers the tools to overcome the barriers to growth.”

**New** [Industry SuiteSuccess Cloud Solutions](https://www.financedigest.com/geospatial-solution-market-one-of-the-most-booming-industry-in-upcoming-years.html "Geospatial Solution Market One of the Most Booming Industry in Upcoming Years")

To deliver faster time to value, increased efficiency and provide the flexibility to foster growth and customer success, NetSuite is introducing [14 new editions of SuiteSuccess](http://www.netsuite.com/portal/services/professional-services/suitesuccess.shtml). A unified, and pre-configured [industry cloud](https://www.financedigest.com/cloud-communication-platform-market-2022-scope-of-current-and-future-industry-2030.html "Cloud Communication Platform Market 2022 | Scope of Current and Future Industry 2030") solution, SuiteSuccess is built on industry leading practices, combining deep domain knowledge with pre-built KPIs and dashboards. The [latest editions are designed to meet the unique requirements of micro-verticals and span a variety of specific industries](https://www.financedigest.com/global-compressor-controllers-market-outlook-2021-pricing-strategy-industry-latest-news-research-report-analysis-and-share-by-forecast-2028.html "Global Compressor Controllers Market Outlook 2021, Pricing Strategy, Industry Latest News, Research Report Analysis And Share By Forecast 2028"), company sizes and maturity in the cloud ERP journey. The new SuiteSuccess editions include:

- **Starter**: Designed for small and [rapidly growing](https://www.financedigest.com/rapidly-growing-end-use-industries-worldwide-is-providing-traction-to-the-13-dioxolane-market-growth-fact-mr-report.html "Rapidly growing End-use Industries Worldwide is Providing Traction to the 1,3-dioxolane Market Growth: Fact.MR Report") company needs, including finance and accounting, order-to-cash and procure-to-pay.
- **Commerce**: Designed for retailers and other ecommerce-focused business needs, including website development and order management.
- [**Technology Services**: Designed for technology services provider](https://www.financedigest.com/is-your-technology-provider-holding-you-back.html "Is your technology provider holding you back?") needs, including project management, sales, order and financial management.
- **Consulting Services** and **Consulting Services Emerging**: Two new editions [designed for consulting services organizations at different stages of growth](https://www.financedigest.com/nanotechnology-to-spell-the-growth-quotient-gq-of-drug-designing-services-market.html "Nanotechnology to spell the growth quotient (GQ) of Drug Designing Services Market") with finance and accounting, project and resource management.
- **Manufacturing** and **Manufacturing Emerging**: Two new editions support manufacturers at different stages of growth with inventory, [supply chain and order management](https://www.financedigest.com/supply-chain-management-bpo-market-is-thriving-with-rising-latest-trends-2014-2020.html "Supply Chain Management BPO Market Is Thriving With Rising Latest Trends 2014 – 2020").
- **Food and Beverage Manufacturer**: Designed for food and beverage manufacturers, including features for demand planning, tracking and traceability.

Advertising, [Media and **Publishing**:](https://www.financedigest.com/white-bullet-partners-with-horizon-media-to-stem-the-flow-of-ads-to-pirate-publishers.html "White Bullet partners with Horizon Media to stem the flow of ads to pirate publishers") Three new editions designed for agencies, media and entertainment and publisher needs, including features for resource allocation, time and expense, and reporting.
- **OneWorld**, **Administrator** and **Accounting**: Three new editions for existing NetSuite customers are designed to support [global growth](https://www.financedigest.com/global-growth-headed-down-as-inflation-surge-to-endure.html "Global growth headed down as inflation surge to endure"), enhance the capabilities and knowledge of NetSuite administrators and ensure accounting features within NetSuite are being maximized.

**New Vertical** [Industry Functionality](https://www.financedigest.com/baby-food-industry-will-turn-to-drive-sales-growth-of-functional-dairy-ingredient-market-fact-mr-report.html "Baby Food Industry Will Turn To Drive Sales Growth Of Functional Dairy Ingredient Market, Fact.MR Report")

To help customers accelerate growth while reducing costs, NetSuite has introduced more than [20 major enhancements to its core application](http://www.netsuite.com/portal/landing/2018-1/main.shtml). The enhancements include new industry-specific capabilities for product and [services companies as well as innovative](https://www.financedigest.com/accelerating-financial-services-innovation-with-the-promise-of-data-mesh.html "Accelerating financial services innovation with the promise of data mesh ") HR and financials functionality. The [latest updates](https://www.financedigest.com/how-the-latest-microsoft-365-updates-are-helping-to-empower-frontline-staff.html "How the latest Microsoft 365 updates are helping to empower frontline staff") include:

  - **Innovations for Product Companies:** For companies in industries like manufacturing, wholesale distribution and retail, NetSuite is delivering new features that increase efficiency, [deliver greater insights](https://www.financedigest.com/research-delivers-insight-into-the-global-polymer-surfactants-market-during-the-period-2021-2029.html "Research Delivers Insight Into The Global Polymer Surfactants Market During The Period 2021-2029") and improve the customer experience. The enhancements include new [supply chain](https://www.financedigest.com/german-engineering-firms-expect-hit-from-supply-chain-bottlenecks-next-year.html "German engineering firms expect hit from supply chain bottlenecks next year") control tower, warehouse management, fulfillment, engineering change management, quality management system and landed costing capabilities.
  - **Innovations for Services Companies:** To help service companies [improve profitability](https://www.financedigest.com/efg-international-says-profitability-improved-in-first-nine-months.html "EFG International says profitability improved in first nine months"), resource management, revenue management and revenue recognition, NetSuite has introduced enhanced project profitability reporting,advanced revenue management enhancements, charge-based billing for ‘time-based rules,’ a new UI for weekly timesheets, a deferred expense waterfall report and new resource allocation grid filters.
  - **Innovative Financial Features:** To ensure customers have a leading-edge financials solution, NetSuite has reworked its cash [management and bank reconciliation functionality in order to streamline the process and give companies](https://www.financedigest.com/big-companies-manage-to-pass-on-soaring-costs-to-cash-strapped-consumers.html "Big companies manage to pass on soaring costs to cash-strapped consumers") better control of one of their key assets – cash. The latest additions include an enhanced [online bank](https://www.financedigest.com/online-banking-benefits-and-risks-of-managing-your-finances-online.html "Online banking: benefits and risks of managing your finances online") statement reconciliation and transaction matching engine, improved bank statement import record capabilities, full translation support for electronic payments and new multi subsidiary customer support.
  - **Innovative HR Features**: Building on the launch of NetSuite SuitePeople, an HR [offering natively built on NetSuite’s unified cloud](https://www.financedigest.com/oracle-offers-its-mysql-heatwave-database-and-analytics-on-amazons-cloud.html "Oracle offers its MySQL HeatWave database and analytics on Amazon’s cloud") suite, NetSuite has introduced a range of new capabilities to help HR professionals attract, manage, train and retain talent. New capabilities include a mobile employee directory, payroll dashboard, headcount and turnover analytics, absence [management enhancements](https://www.financedigest.com/enhancing-credit-exposure-management-through-graph-analytics.html "Enhancing Credit Exposure Management Through Graph Analytics") and integration with Oracle Taleo Business Edition.

**SuiteAnalytics**

To help customers make better business decisions, NetSuite has introduced new [SuiteAnalytics](http://www.netsuite.com/portal/products/business-intelligence.shtml) capabilities, including a powerful consumer grade data exploration tool that brings rapid, secure and meaningful data exploration capabilities to non-technical users enabling them to gain real-time insight into the business without needing to wait for data warehouses to be updated, outdated reports to be written our moving large amounts of important company data to unsecure spreadsheets.


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