The NetSuite 2024 Release 2 is set to revolutionise the way businesses manage their operations with a myriad of new features and innovations. From optimising cash management with the Cash 360 SuiteApp to simplifying subscription management with the new prepay functionality in NetSuite SuiteBilling, companies will have the tools they need to streamline processes and improve efficiency.
Additionally, the enhancements in warehouse and manufacturing excellence will enable businesses to generate Manufacturing Shortage Reports, track available inventory for assembly, and automate bin replenishment with ease. With the NetSuite 2024 Release 2, businesses can expect a seamless and efficient way to manage their operations like never before.
Release process
New features and functionality are released automatically to all NetSuite accounts twice a year — and most of them are free. Check out how the update process works.
Feature Overview
Enhance Cash Management
- NetSuite SuiteBilling has introduced a new prepay feature, allowing companies using a consumption-based pricing model to bill for services in advance, which customers can then utilise throughout their contract term. This update also integrates NetSuite CPQ with SuiteBilling, enabling companies to include subscription items for products or services during the configuration process.
- Additionally, the Cash 360 SuiteApp now incorporates installment schedules from invoices and vendor bills to enhance the accuracy of forecasting accounts receivable and accounts payable.
Enhance Warehouse Operations
- NetSuite Ship Central streamlines shipping operations by intelligently selecting the most cost-effective shipping method while also generating return and hazardous materials labels.
- Furthermore, NetSuite WMS offers a convenient Bin Replenishment Schedule feature that empowers managers to automate stock replenishment tasks. Additionally, employees can effortlessly capture serial numbers for each product within a pallet of goods using a single scan during the receiving process.
Improving Production Operations
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The latest SuiteApps are designed to empower manufacturers in cost control and proactive response to potential component shortages. With NetSuite Supply 360, production planners and managers can easily assess their inventory status for upcoming work orders. The NetSuite Available to Build SuiteApp provides manufacturers with real-time visibility into how many assemblies they can produce with their current inventory. Moreover, the Cost Variance Analysis SuiteApp offers a comprehensive comparison of planned versus actual costs for work orders.
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Additionally, data tables in the NetSuite Supply Chain Management (SCM) Mobile app can now be color-coded based on status, providing a visual representation of work orders, sales orders, and other records.
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Furthermore, the NetSuite Manufacturing Mobile simplifies the process by automatically populating lot and serial numbers when scanning GS1 barcodes.
Empower and motivate your workforce
- The SuitePeople Workforce Management mobile app now offers enhanced time clock functionality, featuring a convenient break completion reminder to ensure employees take their well-deserved breaks. Additionally, new time fields have been introduced to capture essential data such as location, job, project, and task, providing a comprehensive overview of workforce activities.
The NetSuite 2024 Release 2 offers a plethora of new features and enhancements that will undoubtedly revolutionize the way businesses manage their operations.
From optimising cash management to streamlining warehouse and manufacturing processes, this release is set to empower companies to improve efficiency and productivity. If you're eager to learn more about how Project Salsa can help you get ready for this exciting release, get in touch.
