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Oracle NetSuite has updated its product portfolio with new NetSuite Text Enhance GenAI features for specific use cases. These features allow companies to use relevant proprietary data to create and fine-tune contextual and personalized content.

With the new NetSuite Text Enhanced GenAI features, companies can reach their goals faster and more efficiently, achieve greater productivity, eliminate human error, improve consistency and accelerate business processes, indicates the Oracle subsidiary.

The new GenAI features are delivered based on Oracle’s OCI infrastructure. They are based on proprietary, dedicated and pre-built LLMs.

Privacy and security guaranteed

Built-in privacy and security features ensure that customer data is not shared with AI providers or can be accessed by other Oracle NetSuite users. Individual customers are the only ones who can use the specific LLMs trained on their data.

In addition, role-based security is also built into the workflows. This ensures that only content that end users are authorized to see is recommended.

GenAI features for specific industries

The new GenAI features are now available to more enterprise Oracle NetSuite solutions. Examples include solutions for processes within finance and accounting, supply chain and operations, sales and marketing, human resources and customer support.

For example, within the Finance and Accounting module, NetSuite Text Enhanced technology helps with writing tasks such as summarizing text for financial reports and personalized collection letters, writing report contributions and creating new charts or accounting records. The technology can also create statements for cash refunds.

The Oracle NetSuite Supply Chain and Operations application benefits from new GenAI functionality. Among other things, the app supports writing supplier and order contact letters and creating support tickets for warehouse management.

Other industries also benefit greatly from the newly added GenAI features. Examples include data entry and tracking for the manufacturing sector, helping with writing marketing emails, summarizing sales events, lead-generation communications, writing job descriptions and requirements, and summarizing employee performance.

In the case of customer support, GenAI features provide assistance in answering customer questions online, automatically writing reports of customer interactions, finding the supposed root cause of problems and providing solutions for them.

Laptop met een presentatiedia waarin de netsuite multi-analytics magazijn multi-instance connector met grafische gegevens wordt geïntroduceerd.

Introducing Multi-Instance Connector

In addition to adding NetSuite Text Enhanced functionality, Oracle NetSuite is also introducing a so-called NetSuite Analytics Warehouse Multi-Instance Connector. With this connector, companies consolidate their data, simplify their data management and gain access to a set of analytics tools.

Features such as “chart narratives,” pattern recognition and deviation detection should help end users better understand certain investments in the process. Furthermore, this functionality offers multiple interactive dashboards, visualizations and metrics.

Also read: NetSuite 2024 Release 1 is a big update for finance professionals