NetSuite announced another set of innovations at SuiteWorld, their annual conference. The common denominator of all the announcements is that NetSuite is trying to integrate with more third-party platforms to help organizations operate more efficiently. Of course, NetSuite AI also plays a big role in supporting this by giving users more automated insights.
This week, Oracle Cloud World and NetSuite SuiteWorld are taking place in Las Vegas. Here Oracle will announce all the new innovations for the Oracle Cloud and Fusion apps, as well as the Oracle NetSuite solutions.
Speaking about the NetSuite announcements, Evan Goldberg, founder and EVP at Oracle NetSuite, said, “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.”
AI innovations across NetSuite solutions
Like many other SaaS solutions, NetSuite is betting on AI. Its goal is to make operations more efficient and provide new insights. Within its platform, NetSuite supports generative AI to summarize or enhance texts with Text Enhance. However, looking at the announcements, NetSuite focuses more on AI models that support the organization by providing better insights.
Think of detecting anomalies in financial transactions and reports but also generating and providing automated insights so that decision-makers within organizations can make better choices. This is done partly with traditional AI models and partly with generative AI to create charts, tables, and reports.
AI for developers
NetSuite is also introducing AI for developers. Generative AI for SuiteScript API now allows organizations to develop new AI functionality based on NetSuite APIs and easily embed it into existing applications and Web portals.
For developers, Oracle Code Assist has now been extended to include SuiteScript. SuiteScript is the programming language that allows developers and ISV partners to build extensions to the NetSuite platform. Oracle Code Assist can now help write or generate code to develop or enhance certain features.
NetSuite Prompt Studio
Organizations can use generative AI within the NetSuite platform through Text Enhance. Of course, NetSuite develops a standard way of generating new content. However, organizations sometimes need a specific format or the addition of particular information. With Prompt Studio, organizations can customize the AI query to the AI model.
NetSuite SuiteProcurement streamlines order and procurement at Amazon Business and Staples
NetSuite today announced SuiteProcurement. A solution that allows customers to manage and track all orders and payments. Amazon Business and Staples Business Advantage are the first vendors to support SuiteProcurement fully.
NetSuite Connector for Salesforce
Today, NetSuite also announced a new connector for Salesforce that allows automated data exchange between NetSuite and Salesforce. In the past, customers had to arrange integration between the two platforms through a third party, now it can be done directly and automatically.
This makes it possible to synchronize data and gain greater insight into order details, customer information, fulfillment details, and financial information such as invoices and payments.
The NetSuite Connector for Salesforce is based on the Oracle Integration Cloud (OIC). NetSuite is now deploying this technology for automated linking.
NetSuite increasingly plays a central role in the organization
With the innovations, NetSuite ensures that it plays and continues to play a central role in organizations. Adding more integrations and partnering with Amazon Business and Staples, among others, helps organizations work more efficiently. The integration with Salesforce is also remarkable because NetSuite also offers CRM functionality, but it is not as extensive as Salesforce. By focusing on better collaboration with Salesforce, NetSuite can again take a more central role. It brings data together so that organizations have a more complete view of what is happening in their organization.