NetSuite Unveils AI-Powered Innovations at SuiteWorld 24
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SuiteWorld 24 - NetSuite unveils new procurement and PSA products and multiple AI capabilities
Oracle NetSuite has added new AI capabilities and deepened its integration with Oracle infrastructure in announcements coinciding with the opening of its annual SuiteWorld conference in Las Vegas today. As well as a slew of new AI announcements, NetSuite is unveiling a new indirect buying product and the launch of a new PSA product. The new product for indirect buying is called Suiteprocurement, which includes features to help automate purchasing approvals, order creation, invoicing, and reporting, with links to suppliers via the Oracle Business Network. It launches with offers from Amazon Business and Staples Business Advantage. A 12-month, no-cost Amazon Business Prime Medium membership, valued at US$1,299, provides business-only pricing and savings and a 50% discount on membership renewals in subsequent years, while Staples Business Advantage will offer customers dynamic pricing to yield an average 10% savings on business essentials. The launch of SuiteProjects Pro, the successor to OpenAir, the Professional Services Automation (PSA) product that NetSuite acquired in 2008, expands on the NetSuite-native SuiteProjects PSA solution and will provide a new user experience and advanced capabilities such as AI-powered project risk analysis and staffing recommendations, with per-user pricing. There are multiple AI updates across the core product as well as NetSuite's analytics and performance management tools. These include: There are new embedded AI capabilities in NetSuite Analytics Warehouse (NSAW): AI updates for NetSuite Enterprise Performance Management (EPM) include: In other developments, the Oracle Redwood Design System user interface is rolling out more widely across the NetSuite product portfolio. Already in use for NSAW and Netsuite EPM, Redwood will now roll out to NetSuite SuiteProjects Pro, Customer 360, and will gradually extend to the entire NetSuite application, starting with the most widely used areas such as dashboards, lists and forms. A real-time connector for Salesforce, powered by Oracle Integration Cloud (OIC), automatically shares data between NetSuite and Salesforce to reduce data silos, accelerate order-to-cash and revenue recognition processes, and expand business insights. A new managed service built on NetSuite Guided Learning allows organizations to tailor learning resources to their own unique business processes, along with analytics reports to help fine-tune learning effectiveness. Finally, the integration of SimplyInsured's small business-focused health benefits marketplace directly within NetSuite provides for self-service enrolment, with costs deducted automatically from an employee's pay and posted directly to the general ledger. With NetSuite having completed its migration to Oracle Cloud Infrastructure (OCI), it is able to adapt even more of its parent company's platform to serve its customers. This is most evident in the integration of Oracle AI capabilities into the core NetSuite product, alongside the analytics warehouse and EPM products that come from an Oracle pedigree. Meanwhile, Oracle's Redwood user interface is seeping further across the NetSuite product suite, while the introduction of an indirect procurement product owes much to the Oracle Business Network. But while the technology infrastructure owes more and more to Oracle, NetSuite's covenant with its customers remains intact. I'm told that the overall theme of SuiteWorld this year is 'All systems grow'. Colleagues on the ground in Las Vegas will be reporting on how that theme is being brought to life, and customer stories rather than product features will be at the forefront of that narrative.
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NetSuite Introduces New AI-Powered Project Management Capabilities By Investing.com
NetSuite SuiteProjects Pro helps project managers take advantage of AI and user experience innovations to anticipate risk, accelerate planning, and increase productivity , /PRNewswire/ -- SuiteWorld -- Oracle NetSuite today announced plans to deliver a new AI-powered extension to its project management solution, NetSuite SuiteProjects. NetSuite SuiteProjects Pro " previously called NetSuite OpenAir " includes a new user experience and advanced capabilities that will help organizations reach their goals more quickly and efficiently by helping them reduce risk, optimize resource allocation, increase productivity and profitability, and scale operations. "As businesses expand, their needs become more complex, and projects require more intentional monitoring and resourcing to maintain project profitability and meet key milestones," said , founder and executive vice president, Oracle NetSuite. "NetSuite SuiteProjects Pro enables project-based businesses to take advantage of the latest advancements in AI to improve the speed of workflows and increase efficiency by automating staffing, scheduling, budget tracking, and billing." NetSuite SuiteProjects Pro provides a complete service delivery-focused solution that applies new AI-powered capabilities to help customers monitor the health of projects and accelerate project planning. With NetSuite SuiteProjects Pro, project managers can take advantage of: NetSuite SuiteProjects Pro expands upon the capabilities of NetSuite SuiteProjects, a professional services automation (PSA) solution embedded in NetSuite ERP that supports the project delivery lifecycle and enables growing services businesses to manage project planning, staffing, billing, and reporting and increase the speed and profitability of operations. As a business grows and becomes more complex, NetSuite SuiteProjects Pro, an advanced PSA solution, optimizes the entire project delivery lifecycle including AI and automation designed to maximize project efficiency. Availability NetSuite SuiteProjects Pro enhancements are planned to be available within the next 12 months. Current OpenAir customers will automatically experience the benefits of SuiteProjects Pro. Get all the latest updates from SuiteWorld by registering for SuiteWorld On Air: netsuitesuiteworld.com/onair. By registering, attendees will have access to keynotes, sessions, and demos. Learn more about how organizations are leveraging the power of NetSuite to improve productivity and drive growth. 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 40,000 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 (NYSE:ORCL).
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Oracle NetSuite announces new AI-driven products and capabilities at SuiteWorld 24, including enhancements to procurement, professional services automation, and project management.
NetSuite Expands AI Capabilities Across Its Platform
Oracle NetSuite, a leading provider of cloud-based business management software, has unveiled a series of new AI-powered products and capabilities at its annual SuiteWorld conference. The announcements reflect NetSuite's commitment to integrating artificial intelligence throughout its platform to enhance business operations and decision-making
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.New Procurement Solution
One of the key announcements is the introduction of NetSuite Procurement, a new product designed to streamline and optimize purchasing processes. This AI-driven solution aims to help businesses reduce costs, improve supplier relationships, and enhance overall procurement efficiency. By leveraging machine learning algorithms, NetSuite Procurement can analyze spending patterns, suggest cost-saving opportunities, and automate routine tasks
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.Enhanced Professional Services Automation
NetSuite has also unveiled improvements to its Professional Services Automation (PSA) offerings. These enhancements are geared towards helping service-based businesses better manage their projects, resources, and financials. The AI-powered capabilities in PSA aim to provide more accurate project forecasting, optimize resource allocation, and improve overall project profitability
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.AI-Powered Project Management
A significant addition to NetSuite's portfolio is the introduction of AI-powered project management capabilities. These new features are designed to assist project managers in planning, executing, and monitoring projects more effectively. The AI algorithms can analyze historical project data to predict potential risks, suggest optimal timelines, and recommend resource assignments
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.NetSuite AI Assistant
Central to many of these new capabilities is the NetSuite AI Assistant, an intelligent tool that provides contextual insights and recommendations across various business processes. This AI-driven assistant aims to help users make more informed decisions by offering real-time analysis and suggestions based on the vast amount of data within the NetSuite ecosystem
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Impact on Business Operations
These AI-powered innovations are expected to have a significant impact on how businesses operate. By automating routine tasks, providing predictive insights, and offering intelligent recommendations, NetSuite aims to help its customers improve efficiency, reduce costs, and make better-informed decisions. The integration of AI across the platform also positions NetSuite to better compete in the rapidly evolving business software market
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.Future Outlook
As AI continues to evolve, NetSuite's commitment to integrating these technologies into its platform suggests a future where business software becomes increasingly intelligent and proactive. This direction aligns with the broader trend in the enterprise software industry towards more automated, data-driven, and AI-enhanced solutions that can adapt to the changing needs of businesses in real-time
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