NetSuite Release 2024.1: Enhancing Your Business Operations

NetSuite Release 2024.1 is here, bringing a plethora of new features and functionalities to enhance your NetSuite experience. As a NetSuite user, staying updated with these releases is crucial to leverage the latest tools and optimize your business processes. In this comprehensive guide, we’ll dive into the key highlights of the 2024.1 release and how they can benefit your operations.

Understanding NetSuite Release

NetSuite Release occurs biannually, ushering in new capabilities to streamline operations and improve user experience. Keeping track of these releases ensures you’re not missing out on valuable tools that can drive efficiency and growth in your business. At Sikich, we understand the importance of staying ahead of the curve, offering optimization services to help clients prepare for these changes seamlessly.

User Interface Enhancements

Favorites Feature

One of the notable additions to the user interface is the Favorites feature, allowing users to personalize their experience further. By selecting up to five favorite items in various fields, such as Customer and Items, users can streamline their workflow and access frequently used items with ease. This personalization enhances efficiency and minimizes time spent on repetitive tasks.

When users explore the Favorites feature for the first time, they’ll quickly realize its benefits in their daily tasks. For frequent NetSuite users, quick access to preferred items enhances productivity across various operations like processing sales orders or managing inventory. With favorites readily available, users can save valuable time and effort, making their workflow smoother and more efficient.

Order Management SuiteApps

NetSuite Pay

NetSuite Pay SuiteApp revolutionizes payment processing, offering seamless integration within the NetSuite ecosystem. Businesses can now easily accept credit card payments online, over the phone, or at the point of sale. The comprehensive transaction tracking and PCI-compliant data security provide peace of mind while maintaining a complete view of customer transactions.

Implementing NetSuite Pay transforms the payment processing workflow. Gone are the days of manually reconciling transactions across different platforms. With NetSuite Pay, there is now a centralized solution that can streamline payment operations while ensuring data security and compliance.

Electronic Bank Payments Enhancements

The Electronic Bank Payments SuiteApp introduces several enhancements, including approval routing support and masking of sensitive bank account numbers. These improvements enhance the efficiency and security of bank payment processing, catering to the diverse needs of businesses operating globally.

The approval routing support in Electronic Bank Payments is a game-changer for users who handle international transactions regularly. With complex payment approval workflows, having a streamlined process within NetSuite saves us from potential errors and delays, ensuring smooth financial operations across borders.

Fixed Assets Management Enhancements

The Fixed Assets Management (FAM) module receives updates to improve reporting flexibility and customization. The introduction of the 4-4-5 week period format in depreciation schedules offers more granular insights into asset depreciation, aligning with diverse accounting practices.

With the new 4-4-5 week period format in depreciation schedules, your finance team can now generate more accurate reports tailored to our specific accounting needs. This level of customization ensures financial data remains insightful and actionable, empowering strategic decision-making.

Order Management Enhancements

New Ship Central Capabilities

NetSuite 2024.1 introduces enhancements to Ship Central, catering to the evolving needs of modern e-commerce businesses. From adding insurance to shipments to providing delivery confirmation options, these features enhance visibility and control over the shipping process.

Shipping orders efficiently is crucial for our e-commerce business, and the new capabilities in Ship Central have been invaluable. By adding insurance to shipments and choosing delivery confirmation options, you can provide customers with a seamless experience while mitigating shipping risks.

Vendors, Purchasing, and Receiving Enhancements

Bill Capture Enhancements

The Bill Capture feature receives updates to streamline vendor bill processing, including new filters, fields, and an enhanced user experience. These enhancements simplify the review and approval process, improving efficiency in accounts payable operations.

Managing vendor bills can be time-consuming, especially when dealing with a high volume of transactions. The new filters and fields introduced in Bill Capture have made the accounts payable process more efficient, allowing users to focus on strategic tasks rather than administrative overhead.

Unlocking Your Business Potential with NetSuite Release 2024.1

NetSuite Release 2024.1 brings a host of enhancements designed to elevate your business operations to new heights. From user interface improvements to advanced payment processing capabilities, each update enhances efficiency, security, and flexibility. By staying informed and leveraging these new features, you can unlock the full potential of NetSuite and drive growth in your business.

Whether you’re a seasoned NetSuite user or exploring its capabilities for the first time, embracing these enhancements will undoubtedly propel your business forward in today’s dynamic market landscape. At Sikich, we’re committed to helping our clients navigate these changes effectively, ensuring they derive maximum value from their NetSuite investment. 

Are you interested in learning more about the NetSuite 2024.1 Release? Contact us anytime.

This publication contains general information only and Sikich is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or any other professional advice or services. This publication is not a substitute for such professional advice or services, nor should you use it as a basis for any decision, action or omission that may affect you or your business. Before making any decision, taking any action or omitting an action that may affect you or your business, you should consult a qualified professional advisor. In addition, this publication may contain certain content generated by an artificial intelligence (AI) language model. You acknowledge that Sikich shall not be responsible for any loss sustained by you or any person who relies on this publication.

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