NetSuite’s 2024.2 release introduces several enhancements designed to improve efficiency and provide deeper insights across various business functions. Key updates include:
1. Benchmark 360 SuiteApp
This new SuiteApp enables companies to compare their performance against industry peers by providing:
- Industry benchmarks for key performance indicators (KPIs).
- Customizable performance metrics with adjustable targets.
- Insights into NetSuite features relevant to specific industries and regions.
2. Cost Variance Analysis SuiteApp
Aimed at manufacturing operations, this SuiteApp facilitates:
- Analysis of variances between planned and actual costs in work orders.
- Identification of discrepancies in quantity and cost during production.
3. Enhanced Subscription Management
NetSuite SuiteBilling now includes:
- Prepay functionality, allowing businesses to charge in advance for services consumed over a contract period.
- Integration with NetSuite CPQ to streamline the configuration and quoting process for combined physical and subscription-based services.
4. Improved Warehouse and Manufacturing Tools
New features include:
- Manufacturing Shortage Reports via the Supply 360 SuiteApp to ensure component availability for planned work orders.
- The Available to Build SuiteApp, indicating which assemblies can be constructed with current inventory.
- Automated bin replenishment in NetSuite WMS.
- Automatic selection of cost-effective shipping methods and creation of return and hazardous materials labels in NetSuite Ship Central.
5. AI-Powered Enhancements
Advancements in artificial intelligence within NetSuite include:
- Improved mapping logic in NetSuite Bill Capture for increased accuracy in scanned bills and variance alerts.
- AI-driven features to enhance efficiency and support business growth.
These updates reflect NetSuite’s commitment to providing tools that enhance operational efficiency, financial management, and strategic decision-making for businesses.