Oracle NetSuite Expands AI Capabilities to Boost Business Efficiency and Growth

Oracle NetSuite Unveils New AI Features

AI driven capabilities in NetSuite will help customers detect financial exceptions, interact with data in new ways and embed and customise generative AI in NetSuite extensions. Oracle NetSuite, a cloud-based business management platform, has introduced new AI features at SuiteWorld, NetSuite's annual user conference. These updates aim to enhance efficiency, mitigate risk, and accelerate growth for businesses. NetSuite is dedicated to data security and privacy with the new AI features, which are built on Oracle Cloud Infrastructure (OCI). These services are designed to ensure that no customer data is ever shared with LLM (large language model) providers or other customers. Role-based security is also embedded directly into NetSuite workflows, further safeguarding sensitive information. These latest updates build upon NetSuite's existing AI capabilities including generative AI by introducing new features across various aspects of the platform. Key Features Include: "We designed NetSuite to be the foundation of business growth, with a platform that can evolve and expand to meet changing needs and a data model that connects a customer's entire business," said Evan Goldberg, founder and executive vice president, Oracle NetSuite. Aligning with Oracle's Generative AI PushThese announcements come amidst a broader push by Oracle to integrate generative AI across its entire suite of cloud products. Oracle has recently added generative AI services to several of its applications and plans to launch generative AI agents and Data Science AI Quick Actions.

Oracle NetSuite expands its AI capabilities to deliver greater efficiency for businesses - SiliconANGLE

Oracle NetSuite expands its AI capabilities to deliver greater efficiency for businesses Oracle Corp.'s NetSuite today announced a host of new product updates and functionalities, with many of them focused on artificial intelligence. The new offerings are said to be based on Oracle's existing AI capabilities, which have been embedded into NetSuite to enhance various aspects of the platform, around procurement, project management, user experience and more. The announcements were unveiled at NetSuite SuiteWorld, which is an annual event that's part of Oracle's broader Oracle Cloud World conference taking place in Las Vegas this week. While Oracle is best known for its database services, NetSuite has become an increasingly important aspect of its business, providing a cloud-hosted business management platform that's wildly popular with enterprises. The software-as-a-service offering's core functionality is built around enterprise resource planning, and it extends into multiple adjacent areas, such as customer relationship management, human resources, payroll and e-commerce. NetSuite is said to be used by more than 40,000 organizations globally, providing a suite of applications for managing finance and accounting, inventories, orders, procurement and more. The common denominator around today's updates appears to be that NetSuite is trying to leverage generative AI to help customers become more productive and generate more insights to improve business efficiency. NetSuite already supports generative AI capabilities to summarize and enhance texts, but with today's enhancements, it's also looking to support organizations with better, AI-driven insights that have been embedded across its entire suite of tools. The company said it's looking to help customers increase their business efficiency and achieve their goals faster, with new offerings such as a digital assistant in NetSuite Analytics. Those insights will include things such as detecting anomalies in financial statements, and also recommendations to decision-makers, backed up by generative AI-powered tables, charts and reports. In addition, NetSuite is also introducing more AI for developers with the launch of Generative AI for SuiteScript API. This helps make it easier to create and deploy AI capabilities based on NetSuite application programming interfaces and embed them into existing applications and websites. In addition, NetSuite said Oracle Code Assist, a generative AI coding tool, has been extended to SuiteScript, the programming language for building extensions on the NetSuite platform. With this, developers writing extensions for NetSuite should be able to work much faster, but automating code creation and fixes. The new NetSuite Prompt Studio extends the existing Text Enhance offering, enabling users to refine the quality of AI-generated content it creates by configuring the format, tone and level of creativity, the company said. It brings customers more control over generative AI prompt configuration to enhance productivity. The company also announced NetSuite SuiteProcurement, which is a new offering that's said to simplify order and procurement processes at Amazon Business and Staples Business Advantage, so customers can more easily manage and track orders and payments through those platforms. Another interesting capability looks to be the NetSuite Connector for Salesforce, which paves the way for automated data exchange between NetSuite and Salesforce's Sales Cloud. Previously, this wasn't so easy to do, as customers had to integrate the two platforms manually. By automating this integration, customers will be able to synchronize data across NetSuite and Salesforce and gain more insights into details around orders, customer information, fulfillment, invoices and payments, the company said The integration with Salesforce is interesting because NetSuite also offers its own CRM functionality, though it is not as extensive. But although Salesforce might be considered a rival, the integration allows NetSuite to play a more central role in enterprise business management by providing them with a more complete view of what's happening in their organization. NetSuite founder and Executive Vice President Evan Goldberg (pictured) said NetSuite aims to be the foundation of business growth, providing a platform and a data model that evolves and expands to meet the needs of its customers. "We continue to extend NetSuite's capabilities to further strengthen that foundation," he said. "As customers scale their businesses on NetSuite, AI innovations and workflow optimizations help them gain intelligent insights, improve productivity, and simplify collaboration."

NetSuite announces innovations, deploys AI to help businesses increase efficiency and accelerate growth

SuiteWorld, LAS VEGAS - Oracle NetSuite announced a series of new product updates and AI innovations across the suite to help organizations increase efficiency and accelerate growth. The latest innovations build on the comprehensive AI capabilities, including generative AI, embedded in NetSuite by adding powerful new AI updates, a new procurement solution, new partner integrations, updated project management capabilities, user experience enhancements, new training resources, and an integrated benefits offering. "We designed NetSuite to be the foundation of business growth, with a platform that can evolve and expand to meet changing needs and a data model that connects a customer's entire business," said Evan Goldberg, founder and executive vice president, Oracle NetSuite in a statement. "We continue to extend NetSuite's capabilities to further strengthen that foundation. As customers scale their businesses on NetSuite, AI innovations and workflow optimizations help them gain intelligent insights, improve productivity, and simplify collaboration." To help customers gain insights to inform decision making, identify growth opportunities, and solve business challenges, NetSuite is introducing innovations across the suite. The latest capabilities include: Other capabilities include NetSuite SuiteProjects Pro, Oracle Redwood Design System, NetSuite Guided Learning Managed Service, and NetSuite SuitePeople integrated benefits offering. AI Capabilities for NetSuite Analytics Warehouse Oracle NetSuite's latest updates to NetSuite Analytics Warehouse makes it AI-enabled, prebuilt cloud data warehouse and analytics solution. The new AI features will help customers accelerate data analysis and gain the contextual insights needed to enhance decision-making and grow faster. "For growing businesses, making sense of data can be a time-consuming process that may require advanced data science and coding skills. With limited resources, many businesses are not able to invest in these skills and miss out on valuable data insights," said Goldberg. "We're dedicated to helping businesses of all sizes unlock the full potential of their data. The latest updates to NetSuite Analytics Warehouse will help customers automate data analysis and leverage AI to produce fast and meaningful insights that can help improve decision-making." It has features like: Auto-Insights: Help customers accelerate reporting and improve decision-making by generating data visualizations and natural language insights based on a dataset's attributes, measures, and other points of interest. Explain: Help customers gain a greater understanding of their business by leveraging AI to identify meaningful business drivers, contextual insights, and data anomalies. Oracle Analytics AI Assistant: Helps customers streamline data discovery through conversational interactions; where customers can ask questions on data patterns, and the Assistant will create an answer and relevant data visualizations using Generative AI. The writer is in Las Vegas on an invitation from Oracle.

NetSuite Expands AI Capabilities for NetSuite Analytics Warehouse By Investing.com

New advanced analytics features deliver faster insights to help businesses solve challenges and drive growth , /PRNewswire/ -- SuiteWorld -- Oracle NetSuite today announced the latest updates to NetSuite Analytics Warehouse - the first and only AI-enabled, prebuilt cloud data warehouse and analytics solution for NetSuite. The new AI features will help customers accelerate data analysis and gain the contextual insights needed to enhance decision-making and grow faster. "For growing businesses, making sense of data can be a time-consuming process that may require advanced data science and coding skills. With limited resources, many businesses are not able to invest in these skills and miss out on valuable data insights," said , founder and executive vice president, Oracle NetSuite. "We're dedicated to helping businesses of all sizes unlock the full potential of their data. The latest updates to NetSuite Analytics Warehouse will help customers automate data analysis and leverage AI to produce fast and meaningful insights that can help improve decision-making." Built on Oracle Analytics Cloud and Oracle Autonomous Data Warehouse, NetSuite Analytics Warehouse leverages AI to harness business data and identify opportunities to drive efficiency. The latest updates provide new AI tools and models to help customers analyze data more efficiently and gain predictive insights to improve forecasting. New NetSuite Analytics Warehouse capabilities include: Customer Success with NetSuite Analytics Warehouse BirdRock Home is a manufacturer of home goods including furniture accents, storage, serveware, lawn and garden, and kitchen items. With more than half of its sales completed via ecommerce marketplaces like Amazon (NASDAQ:AMZN), BirdRock Home is using the new predictive model for customer churn in NetSuite Analytics Warehouse to help optimize its product strategy, improve customer experiences, and grow revenue while keeping existing customers engaged. "Ecommerce marketplaces are extremely competitive environments, and it can be difficult for merchants to stand out and create brand loyalty," said Mark Chuberka, senior NetSuite administrator, BirdRock Home. "With predictive insights on customer churn, NetSuite helps us understand customer demand for specific product lines and forecast which new products will likely drive continued growth." Availability New features including Auto-Insights, Explain, Oracle Analytics AI Assistant, AutoML, and Oracle Machine Learning are now available. Out-of-the-box AI models for NetSuite Analytics Warehouse is planned to be available within the next 12 months. 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).

NetSuite Helps Top AI Startups Successfully Scale By Investing.com

Anyscale, Clarifai, Cohere, and SymphonyAI leverage the power of the suite to innovate at scale , /PRNewswire/ -- SuiteWorld -- Industry-leading artificial intelligence (AI) startups are turning to Oracle NetSuite to increase efficiency and scale operations to meet growing demand. Anyscale, Clarifai, Cohere, and SymphonyAI have chosen NetSuite to streamline business processes and provide a scalable foundation for future growth. NetSuite helps AI startups manage their operations on a single cloud business system to increase productivity, reduce costs, and expand business insights. With industry-leading enterprise resource planning (ERP) capabilities for financials, accounting, procurement, HR, and sales and marketing, NetSuite enables AI and other high-tech companies to integrate and automate processes, increase business visibility, and improve decision-making. "There is a worldwide race to build the next generation of AI systems, and AI companies are challenged to find ways to fund new product innovations, bolster their top and bottom lines, and keep up with increasing competition," said , founder and executive vice president, Oracle NetSuite. "Over the past few years, many of the fastest-growing AI companies have selected NetSuite to increase the speed and accuracy of business processes, expand operational insights, and efficiently grow as they drive a new era of AI innovation." AI companies that are leveraging NetSuite's integrated business system include: Anyscale Anyscale, the company behind Ray open source, is a fully-managed, enterprise-ready unified compute platform. With Anyscale, companies can build, deploy, and manage scalable AI and Python applications, bringing AI products to market faster. With NetSuite, Anyscale has been able to improve the speed and accuracy of its financial processes and centralize operational data to improve business visibility. "As AI becomes a competitive necessity, we're seeing increased demand for Anyscale's infrastructure and development platform"which also creates more complexity for our accounting team," said , Head of Finance, Anyscale. "NetSuite has helped us improve efficiency and integrate data workflows, which has enabled us to gain a more complete picture of our finances and cultivate strategic insights for our growth." Clarifai Clarifai is an AI orchestration and development company that helps organizations build, deploy, and operationalize AI at scale. With NetSuite SuiteSuccess Software Edition, Clarifai has gained the agility needed to scale its operations and meet demand. "With recent excitement around generative AI, we recently surpassed 1.5 million AI models built on our platform, and to support our ongoing growth, we needed a flexible, scalable business solution," said , founder and CEO, Clarifai. "NetSuite grows with our business, automating our manual operational processes and freeing up resources so we can accelerate business outcomes and help our customers solve more problems with AI." Cohere Cohere builds enterprise-grade AI solutions to tackle real-world business problems. With NetSuite, Cohere has been able to continue to introduce new AI product innovations, expand its customer base, and grow its business. For example, with NetSuite Revenue Recognition and NetSuite OneWorld, Cohere has been able to automate revenue management, consolidate financial reporting, and manage multiple currencies and subsidiaries to ensure compliance with local accounting, tax, and other regulatory requirements. "Cohere has grown rapidly in recent years, and we needed an integrated business system that could scale with us. To build the leading global security-focused enterprise AI company, we turned to Oracle NetSuite," said , vice president of finance, Cohere. "NetSuite has provided huge efficiency advantages. The AI capabilities in NetSuite have provided us with accurate data so that we can make better and faster decisions and spend more time on building our business." SymphonyAI SymphonyAI is a leading enterprise AI SaaS company for digital transformation across the most critical and resilient growth verticals, including retail, consumer packaged goods, finance, manufacturing, media, and IT/enterprise service management. With NetSuite SuiteSuccess Software Edition and NetSuite OneWorld, SymphonyAI has optimized its financial processes and created a consolidated view of its business to help support its growing operations spanning more than 2,000 customers globally and over 3,000 team members. "Over the last three years, we've achieved dramatic revenue growth and achieved profitability. As we grew, we needed a robust business system that could help us scale processes and improve employee productivity," said , chief information officer, SymphonyAI. "NetSuite is helping us streamline processes, expand insights, and improve decision-making to increase efficiency as we expand our global operations." 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.