Oracle NetSuite has unveiled a series of artificial intelligence (AI)-driven innovations and product updates and enhancements aimed at helping manufacturers and distributors increase operational efficiency and foster growth. They are designed to extend the platform’s existing AI capabilities and streamline various business processes.
“With new AI-powered advisor and assistant features and a broad range of other updates, we continue to enable our customers,” says Evan Goldberg, founder and executive vice president of Oracle NetSuite.
6 key Oracle NetSuite updates and enhancements
- Advanced AI Capabilities. The latest AI tools aim to automate and accelerate data-heavy tasks. New features include NetSuite Text Enhance for custom text fields and a Prompt Management API, which help centralize language model deployments. Additionally, Oracle designed the NetSuite CPQ AI Assistant and NetSuite Expert for SuiteAnswers to improve product configurations and issue resolution.
- SuiteSuccess Anything-as-a-Service Edition. This pre-configured platform helps organizations streamline financial, inventory, project management, and revenue recognition processes. The solution is tailored to support businesses offering diverse product and service combinations.
- NetSuite Connector for Outlook. A seamless integration between NetSuite and Microsoft Outlook allows organizations to share data in real time. The feature aims to reduce manual data entry and enhance productivity for sales teams by automating data flow between Outlook Mail, Calendar, and NetSuite.
- Procurement Enhancements. The platform’s Advanced Procurement module now embeds SuiteProcurement, providing real-time supplier collaboration through the Oracle Business Network. Buyers can access supplier catalogs, streamline purchasing, and automate purchase order generation, minimizing manual processes and reducing delays.
- SuiteBilling Improvements. Enhanced subscription invoicing and payment functionalities are designed to increase cash flow and flexibility. Organizations can now manage prepayments, customize subscription management, and configure bill dates to align with consumption-based pricing models.
- Digital Business Network Alliance Integration. This new feature facilitates electronic invoice exchanges between buyers and sellers, helping businesses in the U.S. streamline settlement processes and improve cash flow management. By automating electronic orders and payment communications, NetSuite customers can reduce processing costs and enhance transaction accuracy.
Oracle NetSuite is a platform for managing B2B ecommerce operations, including order management, CRM, and financial reporting.
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