Workiro Stopped, Collaborated & Listened! Everything We Learned at SuiteWorld 2023
Blog
Do more with less.
This concise yet impactful mission statement guided Team Workiro through an electrifying SuiteWorld event.
NetSuite, once again, redefined the standards for productivity and profitability, unveiling a multitude of groundbreaking announcements in Las Vegas, all of which have intensified our excitement about the future potential of our SuiteApp.
So, what valuable insights did we gain? And how will this shape the future of Workiro?
AI will chart the future of NetSuite & Workiro
ChatGPT has emerged as an indispensable asset for businesses, saving countless hours previously spent on creating basic written content.
This transformative trend has now extended into the NetSuite ecosystem with the introduction of Text Enhance, bringing powerful capabilities to text areas throughout the system by automatically generating contextual and personalized content.
AI was also the chief architect behind NetSuite’s Planning and Budgeting feature, which accelerates key processes to boost both the top and bottom lines of your business.
Using predictive algorithms, this closely and swiftly monitors critical data, ensuring that vital decisions are made more efficiently than ever before.
Further AI announcements were made firstly in the form of NetSuite Bill Capture, helping to eliminate the laborious process of entering billing information, and instead, automatically categorizes these for you based on historical data.
And finally, using multi-faceted, AI powered capabilities, the NetSuite Analytics Warehouse will centralize your critical business data from multiple sources.
It’s now much easier to get the full picture and identify either positive patterns or alarming anomalies, both of which have significant impact for your profitability.
Given the accelerated desire for artificial intelligence in all aspects of life, Team Workiro are making sure this technology is an integral feature of our SuiteApp.
NetSuite’s relentless development perfectly aligns with our own perception of AI, and how it’s possibly the most earth-shattering introduction we are likely to experience in our professional lives.
When used ethically, and leveraged to its fullest extent, this has the power to overhaul the entire operational performance of businesses, so we’re thrilled to be working closely inside the NetSuite ecosystem, where such technology is now a bedrock for the future.
For further insight into our approach to AI, be sure to sign up to next month’s webinar co-hosted by Workiro’s Jason Ross, and Djibrand Larrabure from Kolleno, where the role of AI in 2024 and beyond is the key topic of discussion.
Financial management has never been faster & more streamlined
Financial capabilities are integral for NetSuite users, so major enhancements have been made, which includes a new integrated set of finance solutions found within NetSuite Enterprise Performance Management (EPM).
This bridges the gap between finances and operational planning, with automated features for account reconciliation and close processes, again, helping businesses enhance and speed up key decision making.
We were also shown a new embedded service, NetSuite Capital, which harmonises the flow of cash within a business by taking a major dent in the number of outstanding payments which can stifle potential growth.
Another new feature, NetSuite Pay, is also centred around streamlining payment processes, as its now possible to integrate solutions from third-party providers, making it much simpler to on-board new merchant accounts.
Rounding off the avalanche of financial enhancements was NetSuite Electronic Invoicing, helping to maintain vital compliance even during speedier cash collection, and NetSuite Transaction Line Distribution, giving businesses the ability to split a single transaction across subsidiaries, departments and other segments.
And if that wasn’t enough, NetSuite Benchmark 360 was launched, with the power to compare operational performance with similar businesses.
Such an extensive array of thrilling announcements has made NetSuite the undisputed #1 cloud software suite in the world, and Team Workiro are super confident that the same relentless development roadmap we have for ourselves, will elevate the already elevated to heights we never thought possible.
Take the frustration of delays, particularly from a transactional sense.
For this very reason alone, our very own e-signature solutions automatically write back to your NetSuite databases, giving users a clear overview of which files are signed or not.
We’re also excited by NetSuite’s integration capabilities with payment platforms, as we also place strong emphasis on connecting multiple business applications into a ‘single source of truth’, as this enables much faster and efficient work in the world of finance.
Right now, Workiro can integrate with multiple, business critical applications, giving financial professionals the consolidated environments they need to be happier and more productive.
NetSuite is becoming far more accessible
As businesses look to scale, having a robust ERP system such as NetSuite becomes a necessity, rather than a nice to have, but giving everyone access can be problematic when budgeting season comes around.
Because of this, NetSuite are introducing a brand-new pricing model, which enables people to access NetSuite without the need for a full licence.
If you only need to see details for things like receiving and shipping, then access to the relevant information found in NetSuite Warehouse Management is now available without a full subscription.
This exciting revelation also plays wonderfully into the Workiro narrative, as we ensure NetSuite users, whether fully licenced or not, can seamlessly collaborate with stakeholders outside of the NetSuite ecosystem, adding even more accessibility for businesses.
For us, it's all about ensuring that people stay within NetSuite and that the technology used by other departments, which often operates separately from the system, doesn't undermine the idea of having a 'single source of truth.
So long as non-NetSuite users are collaborating exclusively with Workiro, you can be confident that nothing is overlooked, and your business maintains operational efficiency.
Final Thoughts
SuiteWorld 2023 was everything we expected it to be – packed with trailblazing innovation.
AI will of course take the headlines, and NetSuite has certainly delivered in terms of aligning with the biggest trend to shape professional life.
Over the next few years, Team Workiro will be emphasizing artificial intelligence in all our development efforts to unlock heightened operational efficiency for every type of business.
But for now, download our free infographic to see how Workiro's NetSuite add ons can enhance your experience by stopping your hairball, enabling collaboration with your team members, customers and partners, and helping you listen to what really matters, all thanks to a multitude of revolutionary features.
