SuiteWorld 2016 has all but come and gone, leaving us with a wealth of information of what to expect from NetSuite and plans for the next year or so. With thousands of people turning up to this prestigious event, SuiteWorld certainly delivered to both educate and entertain (Whilst lining the pockets of the attendees with Stanley related gifts) as well as information on new features, industry relevant news and the stability NetSuite offers.
In comparison to last years SuiteWorld, there was less “razzmatazz” and a heavier focus around NetSuite’s growth, stability it offers users who work with the NetSuite platform and how far the business has come over the last 12 months.
Of course, not all people could make this event so we have summarised it the best we can here for you!
SuiteWorld 2016: Day 1 recap. Make bold happen
SuiteWorld 2016 kicked off with participants going through the registration process, collecting their name tags and exploring the venue. With an abundance of partners/providers exhibiting, there was plenty to take in, as well as a presentation by NetSuite rewarding certain partners for an exceptional year.
Whilst the attention was on “NetSuite Partners”, the NEW “NetSuite Tiering System” was also announced. SuiteApps will now be labelled as either Native SuiteApps, Hybrid SuiteApps or Integrated SuiteApps.
Along with a couple of announcements, day 1 gave attendees the ability to interact with others, network and get to know their surroundings. One of the more popular attractions at SuiteWorld was the interactivity of #TweetforStanley.
#TweetforStanley shows the power of NetSuites integrated systems along with some clever tech. With vending machines scattered around the venue, crowds of people gathered to interact and claim their free Stanley. By touching a a screen to get started, the machine would give you a unique 4 digit code in the form of a hashtag. For example #TweetforStanely1234, you would have to tweet the given hashtag in order for the vending machine to drop the gift you wanted.
Taking a step back from the novelty aspect of this, it shows just how capable NetSuite is to handling unique task’s. Not only was it able to create new coupon’s on demand of the user, they were all unique and information was gathered in real time. The system could distinguish which Stanley or Sally you wanted then trigger a physical action (the movement of the vending machine) once it had gathered the unique code from Twitter.
To read more about SuiteWorld 2016: Day 1 recap. Make bold happen click here…
By far the most action-packed day of SuiteWorld 2016, day 2 saw some massive features be unveiled in front of thousands with keynote speakers such as Zach Nelson (CEO of NetSuite), Jim McGeever (President and COO of NetSuite) and Evan Goldberg (Founder and CTO of NetSuite).
The first presentation kicking off nice and early at 9am – Zach Nelson took to the podium to speak about “The last computing architecture“. Some of the major key takeaways from this were seeing just how far NetSuite has come in the past 12 months and how far their ambitious team expects them to go. NetSuite grew 45% in 2015, more than any of it’s competitors, with that growth there are now over 1000 NetSuite providers and 30,000+ companies using NetSuite.
One of the more impressive pieces of information Zach delivers, is the bold claim that “SuiteCommerce now performs faster than Amazon” thanks to some heavy investment on NetSuite’s part. It’s not just Zach, CSO of Snapchat Imran Kahn joined Zach as a guest, explaining how NetSuite has not only improved Snapchat but also help’s to deliver over 10 billion videos to it’s 100 million active users on a daily basis where speed, stability and uptime is key.
SuiteBilling , OneWorld 16 Enhancements and more are announced
The first real major announcement from NetSuite is the introduction of SuiteBilling along with the tag “If you sell it, NetSuite can bill it”. According to Jim McGeever – SuiteBilling has had the most amount of man hours invested into the development of a new NetSuite product EVER!
SuiteBilling offers a range of billing options such as subscription based, time and services based, product based or a combination of these without any difficulties.
- A core framework – Allowing for internet NetSuite subscription management, project modules that directly leverage core billing, revenue recognition and financial elements
- Role tailored user experience – You can assign different roles and accounts to separate specialised users allowing for a more streamlined functionality & optimising employee workloads
- Subscription management – Now supporting subscription and usage based pricing structures for both simple and advanced pricing
- Unified and independent – Invoicing and revenue recognition processes work together whilst meeting their specific processes
With SuiteBilling, businesses have control and flexibility over their pricing modules be it a single product price, a monthly subscription with a discount for annual purchase, more complex pricing methods such as time based pricing or a combination of the above. When combined, this gives much greater transparency to customers, allowing them to know exact costs, instilling a greater trust and relationship between business and customer.
SuiteBilling wasn’t the only major announcement by Jim, he also goes on to talk about some of the key enhancements for NetSuite OneWorld.
These features include;
- Book consolidation – Companies which require multiple sets of audit-able financials across their business can comply with GAAP (generally accepted accounting principles) requirements
- Electronic Invoicing Frameworks – This helps customers create country specific invoices, as well as automate the order to cash process, decreasing the costs associated with manual input processes
- Global vendor management – Allowing multi-company users to manage their global vendor relationships such as credit limits, company information, remove duplicated vendor data and merging records
All of the above features are announced in the first presentation, the second presentation hosted by Evan Goldberg offers a greater insight into the changes NetSuite will be going through.
**To watch both keynote presentations and for the rest of the features released with more detailed information, please read our SuiteWorld 2016: Day 2 recap. Keynotes, New Features & More by clicking here… **
For the first time in SuiteWorld history, NetSuite had decided to move away from the traditional presentation style and delivery of industrial relevant information. Instead of having everyone in one theater hall, they split their 5 industries up and held 1 hour 30 minute long presentation for each. This way people who only worked in the manufacturing industry didn’t need to sit in on the software presentation and only saw what was relevant to them and their business.
With SuiteWorld now over we finally have access to all 5 live stream recordings so we can watch them back and digest as much suite information as we require.
Manufacturing and Wholesale Distribution
Retail and Commerce
Service based industries
Software and Internet
With so much information spread across a total of 7 hours worth of presentations, we don’t blame you for not being able to watch them all. If you would like to read a more condensed version of what happened in each, why not read our blog SuiteWorld 2016: Day 3 recap. Industry Specific Keynotes by clicking here…
The final day of SuiteWorld 2016 and the reception this years event had received was fantastic. With very little to show in terms of bad press or negativity among social media users, the final day was a chance to revisit other partners, collect souvenirs, exchange contact information and announce the winners of several prize draws.
The focus of the final day seemed to be the more social side of NetSuite, consultants and providers coming together to take part in activities and make new friends within the business.
We took a look at the social side and how others reacted to the event. To see some of the fantastic images and words attendees had to say about this years event, why not read SuiteWorld 2016: Day 4 recap. A Suite Few Days by clicking here…
With the event now over there is still plenty to look forward to. With the likes of SuiteAnalytics to be released further on down the pipeline with a wealth of new features available, NetSuite seems to move from strength to strength.
Other than the obvious we shall mark our calendar, eagerly awaiting information of SuiteWorld 2017!