New Releases Updates & Recommendations

Introduction

NetSuite just brought to light its first release of the year NetSuite 2024.1 and it’s full of surprises. It contains a multitude of new features from which customers will definitely benefit.

You would like to know the full impact that this New Release will have on your NetSuite Account? We have put together a “New Release Pack” that will prepare you fully for this New Release and help you get the most out of the new features NetSuite has to offer.

The goal is simple: Continually improving the solution to provide its customers with a variety of impressive functions and enhancements. As always Novutech is here to give you support to take advantage of this second release in order to make your business more efficient. Let’s take a look at the latest features and see how we can improve your business.

Objectives

The challenges of companies of the 21st century are broad in a fast changing world. Among them we can find the need to increase efficiency, improve productivity and satisfy more than ever their customers. With its New release, NetSuite is fully committed to help its customers to achieve their goals and to satisfy these needs. Moreover it guarantees bigger insights and deeper control over inventories and allows to improve supply planning capabilities with automation which eases and speeds payments.

This solution is giving you a thorough compliance assessment of the release and your business requirements in NetSuite. Thanks to our New Release Accelerator Pack, you will get a view on topics that might affect your business and a list of required actions to follow, perform or monitor in your NetSuite account.

NetSuite 2024.1 release is structured around 6 key areas: Finance & Accounting, Inventory Management, Manufacturing, Order Management, Payments, SuiteAnalytics , User Interface, Tech/ Integration.

Features

Finance & Accounting:

‍Discover a bunch of new functionalities including:

• SuiteTax enablement via Enable Features (Qualification process no longer required)
• Spanish Localization now available for SuiteTax environments.
• Portugal Localization enhancements, including:
  – Required Assignment of Certification Accounting Books for Multi-Book Accounting Users.
  – Inclusion of Billable Expenses in the SAF-T for Billing Reports.
• End of Support for Germany GoBD in Tax Audit Files

Inventory Management:

‍Few interesting Inventory add-ons:

• Quality Management Enhancements:
  – Inspections can now be done without quantity reference.
  – Quality results for lot and serial numbers can now be preserved.
• Enhancements to SCM Mobile.

Manufacturing

• Work orders can be created via CSV.
• A display name can now be added to transaction line tables.

Order Management

‍Subscriptions now offer the possibility to uplift prices at any point in the subscription life cycle.

Payments

• Approvals can be set in global payments.
• Auto Payment Batches are now supported.

SuiteAnalytics

‍Calculated measures can be created from the pivot grid.

User Interface

‍Up to five favorite items can now be selected in the Customer, Add Multiple, and Items fields on sales orders.

Tech/ Integrations

‍All records are now readily accessible throught the REST API, and the system is no longer the BETA phase.

Did you know that?

• Each NetSuite Release actually occurs in four phases from Mid-July until the Mid-October for the .2 Release. You typically would also get an email notification sent to the address(es) configured in your administrative notification settings.
• Your Release Preview environment is typically made available about one month before your scheduled upgrade. However, from our experience, you can get it earlier in the release cycle by simply requesting (via Setup >> Company >> Release Preview).
• In addition to requesting a Release Preview (RP) account for your Production account, it is also possible to request a separate Release Preview account for each of your Sandbox accounts.
• Similar to the Sandbox refresh, you can request for a fresh snapshot of your Production data to be pushed to your Release Preview environment.
• The Sandbox environment also gets upgraded but typically not on the same day as Production.

Customer reviews

• Trustworthy
• Easy to learn about new features/functionalities
• Adaptability based on your vertical and business needs

Key information

• Fixed and transparent price
• General overview of the New Release most important features
• Analysis in just a few days based on your personal NetSuite account
• Presentation of the Analysis