New NetSuite Features for 2024: Recap & Announcements from SuiteWorld
NetSuite recently announced several new features to help their users streamline process efficiency, integrate more scalable solutions and embrace the power of generative AI.
After attending SuiteWorld 2023 and learning of NetSuite’s plans, our Cloud Solutions team outlined the top takeaways from the conference.
What is SuiteWorld?
SuiteWorld is an annual conference held in Las Vegas, NV hosted by cloud-based software company Oracle NetSuite, and is the largest gathering of the NetSuite community, including partners, customers and developers.
5 New NetSuite Features to Utilize in 2024
NetSuite Generative AI
NetSuite has now implemented AI-powered capabilities across their suite to allow their users to save time, foster process efficiency, and make data-driven decisions for growth – and do so while keeping their data secure.
For example, AI can now be used to monitor and analyze financial forecasts and plans via NetSuite planning and budgeting. And in NetSuite Bill Capture, users can turn to artificial intelligence for support in categorizing expenses based on historical data and pre-populating data based on information from other invoices.
Oracle NetSuite also announced that they plan to implement even more AI-backed functionalities going forward.
NetSuite Text Enhance
As part of their new AI capabilities, NetSuite now offers the ability to create personalized content for finance, accounting, HR, supply chain, operations, sales, marketing, customer support and more.
Upgrades to NetSuite EPM
NetSuite also announced several new features within NetSuite EPM: automating reconciliations, providing users with more insight into the initiatives that are driving their profit, and extending tax management capabilities to aid in compliance challenges, to name but a few.
Upgrades to NetSuite Pay
NetSuite users can now eliminate unnecessary manual steps from payment processing, making it easier for customers to accept and process payments.
Upgrades to NetSuite Electronic Invoicing
NetSuite users can now connect to an international API from within the suite to make invoicing compliance easier and streamline mandates for digital signatures, QR codes, and tax authority clearance.
Final Thoughts on New NetSuite Features for 2024
In addition to announcements surrounding new features, one large theme emerged from this year’s SuiteWorld: “Do more with less.” This highlights NetSuite’s commitment to helping their customers make quick and reliable progress, foster more efficiency, and continue to implement industry-leading, innovative solutions to bring their organizations to the next level.
If you’re still a little unsure about how NetSuite and its new features can streamline growth for your business, our Cloud Solutions team at Bridgepoint Consulting is here to help.
Our experts have multiple years of experience guiding clients throughout every phase of their project. Our team is here to guide you throughout your technology transformation, enabling your organization to minimize risks, gain efficiencies and maximize outcomes.
Need NetSuite Implementation Support?
Bridgepoint Consulting specializes in executing business transformations, driving improved business operations, helping carve–outs become self-sufficient and creating platforms for roll-ups. Our functional resources bring process and configuration knowledge, and our technical resources are capable of developing on the NetSuite platform and creating integrations in a multi-application environment. By focusing on fostering collaboration, rigor and discipline, our experts are best able to drive project success.
Contact us today or learn more about our NetSuite support services at the link below.
