NetSuites latest addition could be a blessing for firms on a shoestring budget

Date:
Wed, 28 Sep 2022 22:37:21 +0000

Description:
NetSuite is bringing intelligence to the shift management process to help businesses optimize for profitability.

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Oracle NetSuite has announced a new service that promises to alleviate common headaches for small businesses around shift management and resource allocation.

At SuiteWorld 2022 , the company offered a first look at SuitePeople
Workforce Management, a service designed to automate the time-consuming shift management process, building out shift patterns based on predicted demand.

The new service also provides a simple way to monitor the number of hours worked by employees and automatically calculates wages on that basis, before passing that information on to payroll . SuitePeople Workforce Management

Although attendance tracking and shift management are neither sexy nor groundbreaking, NetSuite hopes that, by folding the various functionalities into a single dashboard and leaning on the strength of its broader platform, it can help customers manage human capital more effectively and increase profitability as a result.

This is especially important in the current environment, the company says, with businesses across the globe struggling under the dual pressures of
rising inflation and interest rates, and a drop-off in the appetite for spending.

In a tight labor market, organizations need to elevate the management of
their workforce to be competitive, said Evan Goldberg, NetSuite founder and EVP.

With SuitePeople Workforce Management, organizations can quickly adjust staffing to align with changing business conditions. They can also ensure
they accurately pay their employees and meet compliance requirements. Read more

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In addition to supporting core shift management processes themselves, the new service also gives managers access to data points on sales, wages and forecasts, equipping them with the information necessary to make strategic decisions around resource allocation.

The automation of the wage calculation process, meanwhile, is said to
minimize the risk of payroll errors and save employees a significant amount
of time that would otherwise have been spent on manual reconciliations.

SuitePeople Workforce Management will become available in the US, Canada, Australia and New Zealand in early 2023 and will come to the UK and Ireland a few months later. Our list of the best invoicing software available



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Link to news story: https://www.techradar.com/news/netsuites-latest-addition-could-be-a-blessing-f or-firms-on-a-shoestring-budget/


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