Effortless Invoice Preview for HR with airSlate SignNow
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Understanding invoice preview for HR
Managing documents efficiently is crucial for HR departments, where timely and accurate information is essential. Using airSlate SignNow allows HR professionals to streamline the signing process with an invoice preview for HR, ensuring optimal workflow and productivity. With its user-friendly interface and robust features, getting started with airSlate SignNow is seamless.
Steps to utilize invoice preview for HR with airSlate SignNow
- Open the airSlate SignNow website in your preferred web browser.
- Create an account with a free trial or log in if you already have one.
- Select the document you need to sign or wish to send for electronic signing.
- If you anticipate using this document again, convert it into a template for future use.
- Access your uploaded file and make necessary modifications like adding fillable fields or inserting information.
- Sign your document and include designated signature fields for recipients.
- Press Continue to configure and send an electronic signature invitation.
With airSlate SignNow, businesses can enjoy a high return on investment thanks to its comprehensive features tailored to budget expenditures. The platform is designed to be intuitive and scalable, making it an excellent choice for small to mid-sized businesses.
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FAQs
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What is invoice preview for HR in airSlate SignNow?
Invoice preview for HR in airSlate SignNow allows human resources teams to view and verify invoices before they are processed. This feature ensures that all document details are accurate, streamlining the workflow and reducing the chances of errors. By utilizing our invoice preview, HR departments can enhance their operational efficiency. -
How can I access the invoice preview feature for HR?
To access the invoice preview for HR, simply sign in to your airSlate SignNow account and navigate to the invoicing section. From there, you can upload your invoices and utilize the preview feature to review all necessary details. It's designed to be user-friendly and integrates seamlessly into your existing workflow. -
Does airSlate SignNow provide any integrations with other HR software?
Yes, airSlate SignNow's invoice preview for HR can integrate with various HR software solutions like Workday and BambooHR. These integrations enable seamless data transfer and enhance your overall HR processes. By connecting these systems, HR teams can easily manage invoices and other documents in one unified platform. -
Are there any pricing plans available for airSlate SignNow that include invoice preview for HR?
airSlate SignNow offers multiple pricing plans, all of which include the invoice preview for HR feature. Plans vary based on the number of users and additional features required. You can visit our pricing page for detailed information and choose the plan that fits your organization's needs. -
What benefits does using invoice preview for HR provide?
Using invoice preview for HR within airSlate SignNow offers numerous benefits, including increased accuracy in invoice processing, faster approvals, and reduced administrative workload. This feature ensures that all necessary information is visible before any action is taken, which helps prevent delays and miscommunication within HR departments. -
Is invoice preview for HR secured and compliant with data regulations?
Yes, airSlate SignNow prioritizes the security of all user data, including that accessed through invoice preview for HR. We comply with global data protection regulations to ensure that your documents and sensitive information are protected. This commitment to security allows HR teams to confidently manage their invoicing processes. -
Can I customize the invoice preview settings for HR?
Absolutely! airSlate SignNow allows you to customize the invoice preview settings for HR to fit your specific requirements. You can modify how information is displayed, ensuring that the focus remains on the details that matter most to your HR processes and decision-making. -
How does invoice preview for HR enhance team collaboration?
Invoice preview for HR enhances team collaboration by allowing multiple stakeholders to review and comment on invoices before they are processed. This collective input helps ensure all perspectives are considered, leading to more informed decisions. With airSlate SignNow, collaboration is streamlined, making it easier to manage approvals within your HR team.
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Invoice preview for HR
hey Nets podcast listeners thanks for tuning in to this episode breaking down our newest netsuite release I'm im a senior content marketing manager at netsuite and I'm joined by Net's business and finance editor Megan O'Brien the summer means it's our second product release of the year and netsu 2024 release 2 is packed with a bunch of awesome new features absolutely netwe 20242 brings new functionality across sweet billing SCM mobile and Manufacturing mobile and sweet people as well as new sweet apps to help businesses run their supply chains more efficiently we have four different guests breaking down the latest capabilities in detail and explaining how they benefit you and if you're looking for more our sneak peek release blogs are now live on nets.com see the links in the description of this episode to check those out stay tuned because we have a lot of exciting updates that you won't want to miss [Music] you're listening to the netsuite podcast where we discuss what's happening within netsuite why we're doing it and where we're heading in the future we'll dive into the details about the software and the people at netsuite who are behind all the moving Parts we'll also feature customer growth stories discussing the ups and downs of running a company and how one integrated system can help your business continue to scale kicking us off is is Lisa Schwarz senior director of product marketing at netsuite Lisa will provide a quick preview of what's new in 2024 release 2 including an updated user interface that customers can now try out for the first time she also gives a refresher on how all our customers receed the update and what they can do to prepare for it so Lisa we have a few guests joining us to dive deeper into the latest functionality in Nets Suite 2024 release 2 but could you give us a quick overview of what's new absolutely so we have a slew of new supply chain and Manufacturing features ranging from netsuite WMS to some of the mobile applications as well as some hot new sweet apps related to supply chain we'll be diving into the new sweet billing capabilities which is our subscription management and billing solution and finally you'll hear about some of the new things going on with our HR solution sweet people so what's one feature in this release that you're kind of especially excited about um or maybe see as a big win for our customers wow that's a tough one it's like you know picking your favorite child or you know they're all special in their very own ways um from a practical point of view um I see you know it's great to see the evolution of Bill capture which we continue to F to fine-tune the ml models that um help increase the accuracy for matching the invoices to your netw Suite record so that's increasing productivity for our users there's also ship Central our packing and shipping solution this with this release there's some great new functionality uh to automatically find the best shipping rates which is pretty cool so that's saving you know users time but also money so um those are great but I actually wanted to talk about a feature um included in the release but it's an early release status um so uh going into that a little bit um what we're going to be doing with this release is to start to roll out some of the new Redwood UI elements to net Suite users may have heard about this already from Oracle which they have all their applications using this or you actually may have seen it in some of the Oracle applications that we make available to Nets Suite users like planning and budgeting or analytics Warehouse those two solutions have already um the the Redwood UI design system applied so what you're going to see in net suite are changes like fonts icons and colors applied to various Pages there's no functionality changes no changes to workflows it's strictly um an aesthetic you know user interface change one thing to note um and to understand is that th this new UI won't be turned on by default you'll need to go in and change the preference settings to do that but your admin can easily do that it's a great way just to start to become familiar with this we're going to see um more pages updated over the next few releases with more of the design elements applied and at some point it will become the default U of netw Suite but it's just it's starting and that's what I think is really exciting yeah very cool stuff and if someone wants to learn more about redwood UI and maybe you know what what might be might be changing a little bit just an appearance in net Suite um where could they go to to learn more about that as usual with all the stuff um in in every new release um we'll have details in the release notes but we're also planning uh to start rolling out over the next uh few months some added uh Communications and tools that um users can use to become familiar so um you should be seeing some blogs um on this we're actually trying to line up um a speaker for the podcast at some point soon down the road so lots more to come um on this awesome um and I wanted to quickly touch on kind of the logistics of uh release for any new listeners any customers who have maybe not been through this before um or those that maybe just need a refresher so how does netsu deliver all these new features that you covered to users yeah it's actually still to this day as many times we've been doing it it's still super cool to watch it from you know the other side of getting it applied the process and everything but to remind everybody um we do two uh releases a year all of our customers which right now we're at 38,000 plus customers receive the updates everyone is on the same release using the latest and greatest version of netw Suite so this is our second update of the year with the release accounts will be updated between mid August through July that's the span of um the rolling upgrade window each customer is assigned a date and a time that their netw Suite account will be updated the date and the time of your update will be published in the new release portlet on your net week dashboard and your netw Suite admin will also get an email with this information if for some reason this time doesn't work for your company um you can change the date and time of the update via the CSM tool within netsuite again something pretty uh fast and easy that your admin um can do so on the day of the update you do not need to or do anything everything is automated accounts will go offline during the update time which is scheduled for about a 4H hour period but most of the updates happen in 60 minutes or less and it sounds like there's not a whole lot for for customers to do which is obviously a good thing but um what can customers do to prepare for this this update yeah like like I mentioned this is all automatic but we definitely encourage users to become familiar with what's in the release and to try it out in a release preview account so while accounts are updated automatically and all customizations that you may have done to your account come over with the update it's great to test things out using your own data workflows Integrations and customizations just so they're no surprises I know I don't like any surprises so for those of you who are not familiar with a release preview account this is a special test account test environment that clones your production account with the new release functionality in it it's free you just need to have your netsuite admin requested but definitely encourage um uh to to as we used to say test drive before you go live and other than this podcast how else can customers learn more about 202 24.2 yeah lots of ways uh to engage and learn more so the first thing um you can do is read about the sneak peek uh blogs you can read about the enhancements in the sneak peek blogs on netsuite.com as well as the release notes the release notes go into a ton of details on each of the new features and capabilities there's also uh training videos that are made available in sweet answers that you can watch um on selected uh new features and enhancements another way um we encourage you to talk with your account manager about uh what's new kind of what they're recommending um you be you may want to play pay a little special attention to uh since they know your environments um a little bit more so engage in some conversations with your account manager we've got some upcoming webinars um that you could also if you know kind of seeing is more of your thing rather than reading um so we have a a new release features webinar coming up um actually just a few days after this webinar uh this podcast goes live um so you can uh uh sign up to watch that to participate in that webinar July 24th or um if you can't make that it's Avail it will be available to watch On Demand and there's also another uh follow-up webinar coming up in early August about release Readiness so this is a little different um webinar it's not going to go into details on the actual features but more about giving you tips on how to get ready for the release like using the release preview account which I just mentioned creating test plans and then there's also an opportunity to learn about some of the services that we have available um that you may want to uh look at to help with release Readiness and then last but not least you know we've got sweet world coming up so that's happening in Las Vegas September 9th through the 12th we've got over 200 plus sessions seminars um Hands-On learning and training that cover a lot of the new capabilities not only from this release 24.2 but also from the previous release 24.1 so so lots of different ways to learn about the release um depending upon your you know how you like to learn and get up to speed on things well lots of cool and exciting stuff to uh look forward to there so thanks for walking us through at Lisa thanks I happy too sweet people nwu's Human Resource Management solution saw several new features in netsuite 2024 release 2 joining us to discuss how these updates will help companies better manage their Workforce and Associated costs is tanos buus product marketing manager for netset sweet people for those who are not aware of netset HR solution sweet people could you give them an overview yeah of course um so sweet people is part of Net's DNA right it works seamlessly with the rest of the platform it's netsuite's comprehensive Human Resources management system so it's designed to streamline automate a lot of the complexities that HR teams and processes kind of face and it offers a robust set of tools for managing core HR business processes that's like keeping employee records running payroll providing benefits understanding performance of different teams uh scheduling and optimizing Workforce scheduling and planning and um really by integrating with the netsuite uh ecosystem and being a part of it you can really enable your business to better manage your Workforce um by having real-time insights by having real-time analytics that drive better decision-making because sweet people is with netsuite on the same platform and it really allows um customers to uh better understand how they can manage their Workforce and optimize it and all of this is leveraged because again it's connected to net Suite so we can connect into Suite analytics things projects um into all the different um products that netsuite offers and in terms of sweet people itself diving deeper in in terms of what the modules and products are that we sell we have us payroll we have um HR Administration we have workforce management and we have Performance Management so these are really covering the key areas um that uh HR folks are going to be looking for in terms of providing HR functionality to their business and um this helps really provide a uni solution for finance and HR and one solution with netw Suite well why is it important to have a finance and HR System that is Unified yeah so there's there's really three areas that I always think of when it's when it's having a unified solution especially when it comes to two really key uh lines of business like finance and HR the first is collaboration right it's being able to understand when you want to make changes to your Workforce you want to either hire people you want to um maybe uh readjust learning or res skill employees or um understand where you need to maybe make shifts in the workforce in terms of scheduling and teams is understanding how you can collaborate as a HR person with Finance or vice versa understanding the budget understanding the costs um from the finance side and then understanding things like the goals of performance um the uh really HR information location how you can readjust workforces to to be optimized to to improve Revenue improve performance of the business the second is having actionable insights and this kind of goes on the collaboration is not just being able to talk to each other but also as a finance person or as an HR person being able to pull up dashboards things like headcount analysis things like performance um across teams or across individuals or across products being able to forecast um different aspects with uh with workforce management being able to understand okay I need like three people here at this at this job site uh for this season right because it's going to be very busy we need more staff so being able to have those actionable insights from across the business whether it's coming from um projects or whether it's coming from um the the HR side as a finance person is is really important and that's what sweet people um provides with with the unification of of it being together and then the last is having the data Integrity right data integrity and data privacy so everything is in one solution you're not having to import data uh itive data like employee data across different solutions it's all within netw Suite all protected so this helps with the Privacy the security aspect and integrity is you're not having a duplication of data right there's one source of Truth you go to netsuite you check an employee record you check the financials Etc all of it is within one system so that's really the power of having it unified uh in those three um those three elements really how has the product grown to support netw Suite financials customers over the years yeah so swee people really started out with um with payroll and HR and we've grown in um added Performance Management and workforce management and um really grown alongside with our customers I mean now we process six billion annually in payroll transactions across thousands of employees um we're really very much ramping up as as we'll see in in this update around workforce management and around um providing a more complete um HR solution for our customers with things like benefits offering right so and benefit solution so it's very much uh improved with um financials as well netsuite financials to offer deeper analytics reporting features that help understand Workforce costs productivity for products for locations right being able to understand um where the demand is from the business and that comes from things like compensation planning Performance Management um and understanding the whole um aspect of your business and at the same time from an employee side is we've really grown to offer uh employees more of the self-service capability so this is allowing them to get the information that they need um at the time that they need it without having to go to HR without having to bother um or or really distract business folks from focusing on more impactful tasks to ask for things like a pay slip or to ask for things like a time off or or schedule around that right so workforce management um allows for that we have the self-service portals in um in HR to allow you to access payroll slips Etc right let's get to the good stuff what enhancements are coming to Sweet People in 2024 release two yeah so for workforce management we have uh two really uh key enhancements coming and one of those is around being able to track to multiple time Fields right so this is going to allow businesses to understand um not just buy for example a location or a team or a product but to be able to dive even deeper into how employees are spending their time where are the labor costs coming from um if for example you are running a let's say a coffee shop right where are your employees spending the most time cleaning making the coffee talking with customers whatever it may be being able to log those times um uh across multiple time Fields now allows you to understand uh where maybe you need more support example another um is like a contracting business right where you have multiple people working on building a house people who are doing the uh platform the foundation the concrete who are building the paint the Electric electrical all the different stuff that you have within a project being able to map across how many hours are being spent on which item on which project on which task uh is really impactful for our customers now being able to to use that and to map to different different fields and the second is around um really enabling compliance for our customers so being able to ensure that employees take their full break so this is like a a break uh early break uh prevention um uh enhancement where employees now will take their full break and cannot clock back in until their break is is completed and this is important for a lot of states that um will will penalize businesses if employees don't take their full half an hour hour whatever the regulation is so this is a this is really a powerful enhancements for the workforce management product we offer customers and then from an HR um administrator HR admin um Viewpoint we now have a benefits partner so we now can offer customers uh benefits enrollment and brokerage Services through our um benefits partner simply insured and all of this is within netsuite so it's all within the netsuite interface employees don't have to go outside of netsuite to um sign up and to enroll in in benefits and at the back end the payroll is uh deducted so any costs that come from an employee signing up for a benefits plan uh they can see that reflected automatically in their um in their payroll as a deduction and then from a financial standpoint you can see as a finance person the GL showing the cost of how much benefits costs how much each plan even is is is costing the business and being able to optimize are a lot of employees using this plan no but it's also costing a lot okay maybe we should look at offering other plans for for employees so that's the two big enhancements or three I guess uh two for workforce management and one for um as a new partnership with Benefits that we have in a 24.2 how does this help businesses Monitor and track Rising labor costs because that's a that's a huge issue for our customers yeah so for people um especially with the workforce management I'll talk on that because this is really where as I was saying earlier it's going to provide visibility into so many different components of the workforce when they clock in what are they clocking into what are they tracking their time to so um being able to understand the different components of expenses wages overtime anything that they're spending extra time on so being able to identify cost Trends and being able to budget and forecast ahead so saying okay these projects are taking our employees um way longer or these tasks or this assembly line um or this product right is taking double the time that it should and now we're uring overtime let's put more employees on um on that or maybe let's uh adjust how we're moving forward as a business and a business strategy for that product or project or offerings and services right so um it's going to help businesses really Dig Down Deeper into what is labor costs affecting their um growth and um this can happen from from so many different fields that are that are within nby the time fields and being able to map to those as an employee when you clock in being able to say what you're doing at certain hour and time is going to really help businesses Monitor and track where their labor costs are how did these enhancements help employees and perhaps also help businesses anything that you might have not have mentioned so far yeah so I've talked a lot about businesses and the organizational side of it with finance and HR for employees there's a lot of great enhancements with this I mean it's going to provide a lot uh greater transparency and access to their HR information so uh for benefits for example being able to have that um that solution as a business to offer to your employees so that they can access health benefits through through uh their employer is really empowering to them they're going to be able to enroll and access and view different plans all within netsuite right so that's really impactful and um again all the self-service that comes with with sweet people right being able to have the self-service to understand what your pay is understand where um maybe you need to update some personal information to reflect accurately and being able to request time off understand your scheduling and schedule within workforce management all great really empowering aspects and uh enhancements for uh employees from the business standpoint a lot of this again is streamlining um the processes across HR and finance so what you're doing is from the workforce management standpoint even with the time Fields is understanding okay people are clocking in they're aligning their time to certain tasks and projects from a finance standpoint where do we want to adjust the budget where do we want to move forward in terms of adjusting how our Workforce is operating from teams to products to focus right and all of this is just really helping HR become more strategic in terms of how they operate and allowing Finance to get to gain greater visibility in terms of the costs and how the workforce is operating so they can better optimize budgets and really grow Revenue net site by Oracle the number one Cloud Financial system is everything you need to grow all in one place financials inventory HR and more make better decisions faster so you can do more and spend less see how at netsuite.com slmp pod next we have Peter buan an industry solution adviser at netsuite Peter will walk through the biggest new supply chain and Manufacturing features in netsuite 20242 explaining how they can help businesses reduce costs and increase productivity so Peter to start could you just share what are some of the key goals for manufacturers when it comes to production sure uh one of the key goals in the manufacturing process is really to optimize the inventory levels what I mean by that is to produce enough to meet your demand without having a lot of access um so at the end of the day you're maximizing output with minimal waste and for a lot of Manufacturers what they're trying to do is ensure steady flow of raw material and components uh they you know they're trying to streamline their process and just make sure their production time is reduced so that they just need the flexibility to be able to adapt to any changes uh from the demand like what their customers are demanding or even from production requirements and I know in in this release 20242 um there's some new functionality around aligning supply and demand in in Nets we could you tell us a little bit more about what we've what we've added to support that yeah a couple things actually um Supply planning updates we've done and there's uh three new suite apps to support that as well with the supply planning that's going to give customers the ability to increase their accuracy and control uh of the supply planning quantities uh their minimum order quantities and they're lot sizing it's combined now to ensure proper quantities are ordered so it is really merging the two together so there's options there that they have um at the end of the day that supports the right number of products and raw materials that are available so that update is done to the supply planning and then we have a few uh new site apps that's going to support them as well there's netsuite the supply 360 that's essentially just viewing the manufacturing component requirements so when you get the work order you're get a you get a visibility of uh the ability to review the levels of uh compon inventory for upcoming work orders so that's going to give you a better way to plan as well it's you know Supply 360 so you're getting to see the whole 360 degree view of uh your manufacturing components that are required in addition to that that really complements it as well is the available to build so that's going to give you a view and it gives customers answer to see how many more of an assembly can be produced right and it's based on the current inventory so they're able to see that inventory and then they can see how many we produce and a lot of times you see that uh requirement from customers as they have a work order and they have certain raw material uh quantity and they can produce more than that's what's required since visually if you can see the Machinery is working right once you have a setup and you start working you don't want to stop just because you supported the work order right you you have enough to do a work order but you can go ahead and continue having the available to build you can see that perhaps you can run a little bit more and have that in stock if necessary as opposed to just shutting down and then now you have this raw material sitting so that helps most customers in that regard and then uh very important aspect of of everything is the cost right so we have a cost variance analysis uh that's going to take the actual cost versus versus what you planned so if you have a work order and you you know what your planed cost is now you can run a report to see what that variance is and see the actual cost and that's going to help customers identify you know where the actual costs landed are they up are they down great yeah lots of exciting stuff there um and how can our customers access these these new sweet apps so in general uh the sweet apps are either on the tab or or what I do typically is search in the global bar for sweet apps and you can see and view browse search for for the these apps and them or they can go to Sweet app.com in the marketplace you know they can visit that and a lot of times if they're already you know net week customers the users can have access directly from The netw Suite instance and these are at no cost to to customers right and are there any modules they need to have in place to to access these site apps so the site apps that we just discussed those three the supply 360 available to build and the cost variance are actually free to download what you do there is a prerequisite for them is work orders and assemblies and just keep in mind that you you can check with your account manager and they they'll help you navigate through it as well um so let's shift gears a little bit and talk about the production process itself and how Nets plays into that so netsuite has done a lot of work to make production and Warehouse processes executable directly from a mobile device could you tell us about um new enhancements in this release when it comes to mobile functionality just want to go back a little bit about mobile like mobile apps they support multiple efforts our customers been asking for for one it's it's paperless and it's physically flexible hence the mobile aspect of it so you're not tied down to having a desk station for every workstation so and and that's where this why we're putting so much effort into our our mobile applications the SCM mobile it's what we've done is put printers that can be grouped into print groups that's going to allow the user to select a printer based on a print group preference so the user will see a list of printers based on the group they selected um that's going to help them you know quite a bit to not be tied down to a specific printer but then they can select which printer they want to print to um hence since it's it's Mobile in addition to that with the mobile you have condition-based coloring so you can color data tables uh and rows that's going to give user a quick way to distinguish rows of data right so if you got order released that may look you know could be in green um if the work order is in process it could be yellow if it's planned it's in red just to kind of give you a little bit of visual of what it would look like and then uh the manufacturing mobile so the enhancement there is that employees now can clock in and clock out with their badge so that will provide actual machine and labor time on a specific operation on a step and then manufactory mobile as well has a gs1 barcode so that's an enhancement to allow you to scan a lot or a serial number um and a big one that's our customers have always been asking for is to have like an a autogenerate lot or serial number and that's a sweet app and it's integrated with the manufacturing mobile as well um the third one I mentioned was the quality management um so that's the capabilities for that inspection has been enhanced it's going to give the user more control with like a parent transaction on inventory inspection so they can perform uh on demand inspections this includes like inventory quantities and decimals and then that's very helpful uh for a lot of our customers in the food and B industry as well and then there's compliance control visibility of inspection results so that's all going to be it's it's uh more visual uh information on hand and then lastly with that is the ability to navigate between inventory transaction and inspection cues so you're you have now both as well great and uh could you remind everyone where they can where they can access these uh mobile apps and if they if they cost anything and and what um what netw suite modules customers may need to have to to use them yeah so mobile apps in general are available on any iOS right Apple products or Android devices um you know you can search for a netw suite and download the app so in general high level uh to get the mobile app but uh the manufacturing mobile is actually a free bundle um it does require work orders and assemblies so there is a prerequisite for that the SCM mobile it's really is a framework which manufacturing mobile is built on U but to use the functionality Within you need a manufacturing uh module license and then the quality management is also a licensed bundle and that will require Inventory management so um so the mobile application is available through the SCM mobile as well and then one other area I wanted to touch on is is ship Central so ship Central helps businesses fulfill orders um with packing and and shipping functionality what's new with with ship Central in this Rel to make those those packing and shipping processes even easier yeah so again I want I want to go back just a little bit right from the last fiscal year ship Central in general it adds real time integration to partial shipping carriers uh these features like they give you real-time rate shopping um it's integrated shipping labels you could do address validations to make sure that you you were capturing the right address uh with with of course the ability to void labels as well so that was an enhancement that we've done in the past and now what we've done we've got usability improvements so we added more to this functionality we had with ship Central and now you can automatically select the cheapest shipping method instead of having a list and trying to figure out yourself it will provide you that information uh print return lab so if you have any that came through as we talked about just a minute ago in regards to the quality management and if you see something that needs to be returned um that can be done with the same carrier that came in or you can choose a different carrier as well depends on the cost factor for you uh you can create print uh you can create and print Hazmat labels so those are great especially for the United States Postal Service or DHL you know they have their own standards so being able to do that you can comply with their standards and operators can pack items by searching and grouping orders with a wave number so that makes it really convenient awesome and how can our customers access ship Central what do they need or or how can they take advantage of some of these new capabilities ship Central is is great because actually if you have WMS it would be included with it okay but it's not relying on netw sweet WMS so it can be used with or without uh WMS and and it could be a standalone well lots of exciting stuff here Peter and appreciate you walking me through it thanks Ian thanks for your time now let's take a deeper dive into the enhancements around Net Suite sweet billing and 2024 release 2 we have just turnpenny group manager of product management at netsuite joining us next to cover how several New pieces of functionality and netset sweet billing will help ease subscription management we hear that subscription-based business models are becoming increasingly popular many businesses benefit from the reoccurring revenue and increased growth and profitability but what are some of the challenges that businesses face when they're trying to manage subscription revenue and billing models subscriptions have tons of advantages but when you start having high volumes of recurring billing it becomes unmanageable unless you're able to automate it and especially if you have complexities around contract modifications and it becomes really hard and cumbersome for teams to manage all of those changes and and make sure that it's accurate and as well Revenue recognition for subscription billing is very specific and so it can also be really hard for Revenue teams to make sure that the way that they're recognizing their subscription revenue is accurate so and and all of those things become more complicated with subscription billing because you're billing in a recurring way not just a single oneoff invoice so yeah it it can be hard especially at high volumes for those who are new to netw Suite or could use maybe a little bit of a refresher can you share some information about sweet billing what is it and what does it do so sweet billing is net Suite subscription billing module and what sweet billing does is it really simplifies and automates the management of subscription billing for our customers the module supports onetime recurring and consumption or usage based billing so we support flat tiered volume based pricing you know time based discounts free trials you know all of the the complex sort of ways that you can price in a subscription model and we we try and simplify that for you to be able to configure it using subscription plans you can make that really easy to to get up and running in a repeatable and and accurate way we automate all of those uh recurring type uh subscription invoice bulk runs for you so that can all be automated it doesn't have to be triggered in any way uh we also have a really powerful rating engine that supports the pration associated with contract modifications uh as well it has a a really deep integration into our Advanced Revenue management module so it also seemlessly integrates with that module and automates all of your Revenue recognition for your subscriptions so it's a really powerful um subscription billing product we hear a new feature is coming to sweep billing in release 202 24.2 what can you tell us about it so in 24.2 we are releasing our prepay withdraw down feature and that feature will allow our customers to receive a prepayment for uh whatever specified amount and then be able to draw down or consume that prepayment across multiple subscription Lines within that subscription so you could take prepayment for a set amount and then as your customer consumes you know whatever subscription products you've you've sold them as they consume those it burns down the prepayment now how would customers be invoiced in cases like this so they're invoiced for the prepayment upfront and then on subsequent invoices they see how that prepayment is is consumed or burned down and they also see what's left of that prepayment so that initial invoice is is that upfront payment and then subsequent invoices are more Communications on how that's being consumed what's exactly the added benefit of being able to record prepayments within sweet billing so being able to record those prepayments allows our customers to to speed up cash flow you have an upfront prepayment uh and you get but you get the advantage of consumption billing so traditional usage based or consumption billing is build in a rear as it's used and and customers really love that model so you get the advantage of that consumption-based model but you reduce the risk by having The Upfront cash flow so you have that prepayment in hand and then you know it can be re-up or you know you can recharge that prepayment at at any time so it does give customers that reduced risk with the the great you know consumption based model and perhaps the most important question how soon will customers be able to use this feature it is being released in our 20242 um net Suite release it's all very exciting well plenty of new capabilities for our customers to look forward to in 20242 and the best part is they can access this new functionality and start reaping the benefits right now for sure I really appreciate how the new features cut across so many areas financials and accounting supply chain manufacturing HR there's something here for so many different roles across a variety of companies and a quick reminder if you want to dive deeper into any of the new functionalities we covered today we have links to our release blogs in the description of this episode thank you so much to all our guests for joining us today and a big thank you to all you listeners tuning in I want to shout out our editing team over at Oracle who does such a great job and we are incredibly grateful for them don't forget to rate review And subscribe for more episodes just like this one bye you just listen to the netsuite podcast be sure to tune in every week with more netsuite developments stories and insights into the benefits of one integrated system to help you run your business [Music]
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