NetSuite News & Insights – March Edition

By - March 29, 2019

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Case study

Altex Electronics moves to an omnichannel solution with NetSuite
Altex had an inconsistent technology platform with many disconnected systems, and was interested in implementing NetSuite’s omnichannel enterprise resource planning platform. The company sought to simplify tasks such as wholesale purchasing, shipping and unified accounting with a single cloud solution. In addition to the back-end business processes, Altex implemented SuiteCommerce Advanced for their complex B2C website that reports across all channels. Within its eight retail locations, Altex also leverages SuiteCommerce InStore as a point-of-sale platform that provides an omnichannel customer experience with unified physical and digital shopping experiences in a single, cloud-based solution.
Altex Electronics moves to an omnichannel solution with NetSuite

Product updates

Advanced Approvals SuiteSolutions
Advanced Approvals allows custom rules to be created for each transaction type and these rules can apply to all subsidiaries or just one subsidiary. There can also be multiple rules for a single transaction type, this allows a sequence of rules to be executed. Multicurrency is supported as well and allows currency conversion to take place during the approval rules evaluation if the transaction currency is different from the base currency. There is a plethora of different ways to structure who will be assigned as the approver of a transaction. Learn the different types with a brief description.

In the press

Creating a better system: The importance of ERP to organizations
Technology is evolving so rapidly, organizations need to embrace digital transformation or they will fall behind the competition. One way to do this is by embracing enterprise resource planning (ERP) and the power it has to transform an entire company. Cloud ERP provides efficiency and automation. It is a digital transformation starting with financials and extending throughout your entire organization and customer interactions. When companies go all-in on cloud adoption, it means that they can stop managing their IT headaches and instead focus on their core businesses.”

NetSuite announced their 2019.1 release dates
Discover an overview of all resources available to you including how to access 2019.1 new feature training videos. For a summary of the new updates and how they may apply to you, see the NetSuite new release 2019.1 summary.

RSM survey reveals how CFOs are taking charge of digital transformation to stay competitive
The survey reveals that the majority of chief financial officers (66 percent) play a critical role in digital transformation, reflecting increasing technology investments in a digitally oriented world. However, according to the survey, most companies (95 percent) look to the chief information officer as the key executive in charge of digital transformation. With the goal of leveraging technology to keep pace with evolving customer and employee expectations, digital transformation will continue to be a critical initiative.

Meals and entertainment expenses after tax reform
The deduction for meals and entertainment (M&E) expenses has been one of the most broadly applicable opportunities for significant tax savings; however, after tax reform, there are some misconceptions regarding how to apply the rules and what opportunities remain. Now more than ever, employers need to understand their M&E expenses and ensure they are properly categorized and deducted to avoid lost tax savings. Stay tuned to RSM to understand what you can expect from tax reform and the potential impact to your tax planning process and business objectives.

Events

Meet RSM at SuiteWorld
Over 50 of our best and brightest NetSuite consultants will be attending SuiteWorld, the industry’s No. 1 cloud enterprise resource planning (ERP) event of the year, Las Vegas, April 1-4, 2019. Hear how RSM customers are implementing NetSuite solutions to be the best in the industry, fuel your mind with new ideas from your peers, and network with experts. Monday, April 1, RSM will host our annual VIP reception, welcoming our valued clients, friends and colleagues from around the world for a spectacular evening. This is an invitation only event; please contact your RSM advisor for more information.

Educate yourself:
Session speaker: John Rush
Session ID: DSC1579SOL
Session title: Planning for growth: Lessons from the field on integration and configuration in high-volume environments.
Ready for the next step?

Featured media

Managing growth and acquisitions with NetSuite OneWorld
Today’s organizations are increasingly operating on a global stage. The pursuit of growth opportunities, both organic and inorganic, has forced organizations and their internal systems to comply with international laws, regulations and reporting requirements. NetSuite OneWorld offers the ability to capture worldwide business operations within one system complete with consolidated reporting, subsidiary management and role-based permissions. Join our webcast to learn more about how NetSuite can meet your international requirements and reduce the time to integrate new acquisitions into your NetSuite account.

Embracing digital to optimize operations, are you keeping up with the competition?
From enhancing inventory operations to implementing new ways to measure productivity, leveraging technology can help you drive innovation, reduce costs and ultimately, do more with less. Learn how technology can improve your operational efficiency.

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