NetSuite 2024.2 Brings New Visibility and Efficiency Features to Finance Teams
NetSuite Release 2024.2 introduces significant upgrades designed to streamline workflows and improve visibility, particularly for finance teams. These updates empower businesses with smarter revenue management, enhanced compliance, and advanced financial tools.
Key Features for Improved Efficiency and Visibility
1. Crystal Clear Revenue Distribution for Accounts Receivable The Transaction Line Distribution SuiteApp enables seamless revenue allocation for accounts receivable transactions across subsidiaries, improving financial accuracy and flexibility.
2. Enhanced Capabilities in SuiteTax Updates allow better management of tax records across subsidiaries, improving compliance and financial transparency.
3. Installment Schedules for Cash Forecasting Cash 360 SuiteApp now links installment schedules to invoices and bills, enhancing cash flow accuracy and liquidity management.
4. Improvements in Tiered Volume Rebates Rebates & Trade Promotions now support forecasting for each tier and include purchase transactions, broadening its scope and refining financial projections.
5. Upgraded Audit Documentation Compliance 360 now offers improved forms, customizable activity tracking, and export capabilities for enhanced audit processes.
6. Advanced Subscription Management SuiteBilling now supports prepayment configurations and auto-replenishment for subscription-based models, improving cash flow and billing accuracy.
7. Better Visibility into Talent Costs SuitePeople integrates health insurance enrollment and payroll deductions, reducing manual tracking and providing real-time insights into workforce costs.
8. New Close Task Management Interactive task management within Account Reconciliation streamlines financial closing processes, automating repetitive tasks and enhancing accuracy.
9. Streamlined Invoice Processing and Payments Enhanced AP Automation enables vendor payments across subsidiaries and improves invoice accuracy with AI-driven features.
10. Improved Cash Flow Visibility NetSuite Analytics Warehouse introduces datasets for tracking cash inflow and outflow processes, helping identify inefficiencies and optimize cash management.
Take Advantage of NetSuite 2024.2
The new updates enhance inventory controls, compliance, and financial accuracy, driving innovation and growth across industries like SaaS and life sciences. At Cinntra, we help clients harness these changes for maximum impact. Reach out to explore how these features can benefit your business.
