Oracle NetSuite Unveils Powerful AI Enhancements at SUITEWORLD 2023 to Boost Organizational Efficiency

At the SUITEWORLD 2023 event, Oracle NetSuite showcased a suite of groundbreaking AI-powered capabilities designed to propel organizations towards their objectives with unparalleled efficiency. The highlighted feature, NetSuite Text Enhance, supported by Oracle Cloud Infrastructure (OCI) generative AI service, is set to revolutionize the way various business functions operate.
Oracle NetSuite for ERPEvan Goldberg, founder and EVP of Oracle NetSuite, emphasized, “We’ve been building AI into NetSuite for several years to help our customers be more productive and successful. Recent breakthroughs in AI create the opportunity for a quantum leap in doing more with less.”

NetSuite Text Enhance: A Game-Changer with AI-Driven Content Optimization NetSuite Text Enhance is a remarkable AI-driven tool that aids finance and accounting, HR, supply chain and operations, sales and marketing, and customer support teams. This technology empowers users to leverage AI for creating relevant drafts or refining existing content, streamlining processes, and automating the generation of context-sensitive content across every area of the suite.

For instance, during the sales process, when a prospective customer engages with an organization through NetSuite and expresses interest in a particular product or service, NetSuite Text Enhance facilitates the rapid creation of a contextual email response. The response incorporates a combination of ERP, CRM, and supply chain data, aligning with the organization’s current campaigns and featuring details such as the latest product description, product images, pricing information, availability, and delivery specifics.

Innovations Galore: NetSuite Enhances Suite Capabilities with AI-Powered Solutions Oracle NetSuite’s latest innovations include a blend of traditional and generative AI-powered capabilities spanning the entire suite. Noteworthy additions encompass new field service management and enterprise performance management (EPM) solutions, alongside capabilities aiding finance and customer experience professionals in optimizing business processes.

NetSuite Planning and Budgeting: AI-powered capabilities in NetSuite Planning and Budgeting automate data analysis, facilitating improved and accelerated decision-making. Predictive algorithms continually monitor and analyze plans, forecasts, and variances, enabling customers to swiftly uncover trends, anomalies, and correlations.

NetSuite Bill Capture: AI-powered capabilities intelligently capture and categorize expenses based on historical data, effectively reducing manual bill entry and enhancing the productivity of accounting teams.

NetSuite Analytics Warehouse: AI-powered capabilities consolidate and centralize data from various sources, accelerating access to data visualizations and reporting. Enhanced visibility and a deeper understanding of transaction-level activity enable customers to spot patterns and gain faster insights for better decision-making.

Oracle NetSuite’s Expanding AI Offerings Bolster Efficiency and Productivity Apart from the suite enhancements, Oracle NetSuite announced the latest updates to NetSuite Analytics Warehouse—the first and only AI-enabled, prebuilt cloud data warehouse and analytics solution for NetSuite customers. These updates aim to improve data management, enabling customers to quickly build analyses, increase efficiencies, reduce costs, understand their customers better, and leverage data for innovation and growth.

Client Wins Several notable organizations have embraced NetSuite to bolster their operations:

Cohere: A leading AI platform for enterprises, has chosen NetSuite to enhance productivity, scale its business, and meet the growing demand for generative AI-powered services worldwide.

Terlato Wine Group: The marketing and distribution firm for fine wines and artisanal spirits collaborates with Oracle NetSuite to deliver premium beverages from world-class producers to customers across the United States.

TGI Fridays: The global fast-casual restaurant chain partners with Oracle NetSuite to streamline financial processes, enhance cash flow, and improve decision-making across its global chain of restaurants.

Manolo Blahnik: The luxury shoe brand leverages Oracle NetSuite to optimize its operations by automating and consolidating financial processes, enhancing inventory control, and driving efficiencies, all in pursuit of creating products with timeless beauty and unrivaled craftsmanship.

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