Oracle NetSuite has just announced a series of AI innovations and other new product updates that will help organizations increase efficiency and accelerate growth. The latest updates across the suite build on the comprehensive AI capabilities embedded in NetSuite and will enable customers to take advantage of new pre-configured solutions, third-party integrations, and procurement and billing enhancements.
“NetSuite provides an enterprise-grade platform for businesses of all sizes that delivers the scalability, performance, AI innovation, and security that customers need to support any stage of growth,” said Evan Goldberg, founder and executive vice president, Oracle NetSuite. “With new AI-powered advisor and assistant features and a broad range of other updates to help businesses of all sizes, we continue to enable our customers to gain more value from the suite.”
The latest updates to NetSuite help customers automate and accelerate business processes and embrace new business models include:
New AI capabilities
These new AI capabilities help organizations streamline data entry, centralize the management and deployment of large language models, optimize product configurations, and accelerate issue resolution. With NetSuite Text Enhance for custom text fields, a new Prompt Management API, NetSuite CPQ AI Assistant, and NetSuite Expert for SuiteAnswers, customers can apply the latest AI innovations to address their specific business needs. Please visit NetSuite Extends AI Capabilities to Help Organizations Further Improve Efficiency to learn more about these latest NetSuite’s AI updates.
Evan Goldberg, Founder & EVP of Oracle NetSuite
NetSuite SuiteSuccess Anything-as-a-Service Edition
This new solution helps organizations with diverse product and service offerings increase efficiency, enhance the customer experience, and accelerate growth by providing a pre-configured consolidated business platform with tailored Anything-as-a-Service functionality. For example, organizations can streamline financial, inventory, project management, and revenue recognition across their product and service offerings. To learn more about NetSuite SuiteSuccess XaaS Edition, please visit: NetSuite Launches New Solution to Help Businesses Manage and Grow Diverse Revenue Streams.
NetSuite Connector for Outlook
This new NetSuite Connector helps organizations automatically share data between NetSuite and Microsoft Outlook. With a real-time data flow between Outlook Mail, Calendar, and NetSuite, sales teams can reduce manual data entry, focus on higher-value sales activities, and drive more revenue.
NetSuite Advanced Procurement Enhancements
NetSuite SuiteProcurement helps organizations streamline purchasing, optimize spending, improve efficiency, and gain access to thousands of vendors, bringing real-time supplier collaboration via the Oracle Business Network. With NetSuite SuiteProcurement now embedded in NetSuite Advanced Procurement, buyers can punch out to supplier catalogs, select items, and instantly generate purchase orders in NetSuite, helping to reduce manual entry and decrease the likelihood of delays.
NetSuite SuiteBilling Enhancements
NetSuite SuiteBilling helps organizations accelerate cash flow and improve flexibility in subscription invoicing and allocation by integrating prepay functionality and increasing customization in subscription management. This enables customers to charge and collect payments in advance if using consumption-based pricing models; invoice and allocate revenue for associated services, projects, and hardware prior to activating a subscription service; and automatically configure bill dates.
Digital Business Network Alliance integration
This new integration helps organizations in the U.S. streamline invoice and settlement processes, improve cash-flow management, and increase the availability of working capital by automating electronic invoice exchanges. With the Digital Business Network Alliance (DBNA) network seamlessly facilitating orders, invoices, payments, and communications between buyers and sellers electronically, NetSuite customers can help reduce processing costs and improve accuracy.
Migration to Oracle Autonomous Database
In addition to the latest updates across the suite, NetSuite is migrating to Oracle Autonomous Database to enable its customers to take advantage of the enhanced security, reliability, and performance of a fully managed Oracle Database in Oracle Cloud Infrastructure (OCI) with integrated AI. Please see NetSuite's AI Advantage to learn more about the performance and security advantages NetSuite gains from the complete Oracle technology stack.
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Insightful Accountant will have more news about these announcements over the next few days.
About Oracle NetSuite
For more than 25 years, Oracle NetSuite has helped organizations grow, scale, and adapt to change. NetSuite provides an integrated system that includes financials / Enterprise Resource Planning (ERP), inventory management, HR, professional services automation and omnichannel commerce, used by more than 41,000 customers in 219 countries and dependent territories.
Future Product Disclaimer
The preceding is intended to outline our general product direction. It is intended for information purposes only and may not be incorporated into any contract. It is not a commitment to deliver any material, code, or functionality, and should not be relied upon in making purchasing decisions. The development, release, timing, and pricing of any features or functionality described for Oracle’s products may change and remains at the sole discretion of Oracle Corporation.
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