Is NetSuite 2024.2 already released on your NetSuite account? Has your team brought the new enhancements to your attention?
GIR NetSuite experts have thoroughly reviewed the release and documented key features and major changes for your attention. We hope the key details in this blog will add value and help your team make important decisions.
If you have any questions or are experiencing any issues after the release and need further assistance, feel free to contact us
NetSuite 2024.2 Release Highlights:
Inventory Management
• Warehouse and Supply Planning Enhancements: Better inventory and quality management features.
• NetSuite 2024.2 release includes several specific enhancements for Warehouse and Supply Planning that improve inventory and quality management.
Key Enhancements
• NetSuite Supply 360 SuiteApp (if your business is using NetSuite native WMS it is highly recommended to enable SuiteApp)
• Manufacturing Shortage Reports: Quickly generate reports to ensure all necessary component inventory is available for planned work orders.
• Inventory Comparison: Compare work orders against on-hand and on-order inventory to highlight potential component shortages.
• NetSuite Available to Build SuiteApp.
• Assembly Evaluation: Determine how many assemblies can be built with current inventory, including both final and subassembly components.
• Accessible Reports: Access these reports from sales order entry, bill of materials inquiry, and Item 360 pages.
• Cost Variance Analysis SuiteApp.
• Cost Comparison: Compare planned and actual costs of work orders, highlighting variances in both dollars and percentages.
• Detailed Insights: Drill down into specific components, cost categories, and conversion costs to understand cost impacts.
• Warehouse Management System (WMS) Enhancements.
• Automated Stock Replenishment: Schedule stock replenishment tasks automatically to ensure shelves and bins are well-stocked.
• Efficiency Improvements: New features to help warehouse staff get orders out faster and more cost-effectively while reducing lost inventory and orders1.
• These enhancements are designed to provide better visibility, control, and efficiency in managing inventory and supply planning.
Order Management
• NetSuite 2024.2 release includes several enhancements to the Order Management module aimed at optimizing order processing, reducing errors, and providing a more seamless experience for managing orders and payments.
Key Enhancements
• Improved Order Processing: Enhancements to streamline the order processing workflow, making it faster and more efficient
• Error Reduction: New features to minimize errors during order entry and processing, ensuring higher accuracy.
• Seamless Experience: Updates to the user interface and functionality to provide a smoother experience when managing customer orders and payments.
• These improvements are designed to help businesses manage their orders more effectively, enhancing overall operational efficiency.
• Subscription Management Enhancements.
Commerce
• SSL Support for Promotional URL Domains: Enhanced security for all domain types.
• In the NetSuite 2024.2 release, SSL Support for Promotional URL Domains ensures that all promotional URLs are secured, adhering to industry standards. This enhancement is part of the broader updates aimed at improving security and user experience across various functionalities.
• For example, this feature helps businesses maintain secure connections for their promotional campaigns, protecting user data and enhancing trust. This is particularly beneficial for eCommerce operations, where secure transactions are crucial.
Banking
• New Service Provider: Supports more U.S. and Canadian financial institutions like support for the Multi-Subsidiary Feature.
• Payment Automation and Localization Enhancements: Creating and processing vendor prepayments through the Payment Automation SuiteApp. Payment Status Tracking where record now includes a visual status tracker which you can use to check the status of the payments.
Manufacturing
• New Cost Variance Analysis SuiteApp: The Cost Variance Analysis SuiteApp analyzes variances during the processing of work orders. These variances are the differences between the planned values and the actual values recorded for quantity and cost in work orders. This SuiteApp also enables you to do the following:
1. Measure the performance of work orders and act toward preventing cost overruns.
2. Review cost variances by work order, cost type, and operations.
Customer Relationship Management (CRM)
• Customer 360 Page: Comprehensive view of customer financials, transaction history, and more. (GIR Team highly recommends to enable customer 360 for your NetSuite account)
• Restricted Access to External Case Response Page: A new security preference has been added to the Customer Support and Service feature. The preference enables or disables access to the External Case Response Page for your customers.
Accounting
• Advanced Revenue Management in Configuration Mode:
Allows setup without affecting current revenue processes.
• Integration with Prepay and Drawdown: Supports accurate
revenue recognition for prepay and usage elements.
Account Setup and Maintenance
• New CRM Limited Access User Role: Provides access to sales, CPQ, marketing, and support activities in NetSuite. Use this role to work with Campaigns, Opportunities, Quotes, Sales Orders, Cases, and other customer-related records, as well as CPQ functionality.
• New Read Only User Role: Grants limited access for viewing and approving reports.
Authentication
• SuiteSignOn End of Support: As of NetSuite 2024.1, support for the Outbound Single Sign-on (SuiteSignOn) feature ended in nonproduction accounts, such as sandbox accounts. As of NetSuite 2025.1, this feature will no longer be supported in production accounts.
Employee Management
• Payroll Enhancements: Improved integration with the general ledger and compliance updates.
2025.1 Release:
• NetSuite.com data source will still be available but no longer supported.
• Support cases for bug fixes or performance enhancements will not be considered, except if the data source is down.
2026.1 Release:
• NetSuite.com data source will be completely removed.
• NetSuite2.com Data Source.
• Solves inconsistencies between saved searches and reporting.
• Consistent with SuiteAnalytics Workbook.
• Improved security with role-based access control.
• Supports OAuth 2.0 and token-based authentication.
• Uses SuiteQL, offering advanced query capabilities and restricted SQL functions.
SuiteAnalytics Export Pivot Tables to Excel:
• New feature allows exporting most Workbook pivot tables to an
Excel XLSX file.
• The export feature produces a standard spreadsheet format without modifications.
SuiteCloud SDK and SuiteScript
SuiteApprovals version 7.02.9 introduces fixes for failed updates to the Approval Status and Next Approver fields on transaction records, especially when dealing with high volumes of line items.
New features include:
• Record Update Failed Banner: Alerts users if approval information fails to update, with specific instructions for final approvers.
• Transaction Failed to Update Email Notification: Sent once to the final approver when a transaction fails to update.
• Update Approval Information Button: Allows final approvers to manually update the Approval Status and Next Approver fields.
Taxation
• SuiteTax and Legacy Tax Enhancements: Improvements in international tax reports and localization.
User Interface
• New Redwood Experience Theme: Updated UI theme
• The New Redwood Experience Theme in the NetSuite 2024.2 release introduces a refreshed user interface with a modern look and feel. This theme enhances the overall visual experience, making it more intuitive and user-friendly.
Key Features:
1. Updated UI Theme: The new theme provides a sleek, contemporary design that improves navigation and usability.
2. Collapsible Sections: Users can now collapse and expand sections within the interface, allowing for a more organized and customizable workspace.
Removal of NetSuite.com Data Source:
• Transition to the NetSuite2.com data source is necessary as the NetSuite.com data source is being phased out.
Additional Information
• Availability: Features will be available to customers upon upgrading to NetSuite 2024.2.
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