Oracle announced a wide variety of enhancements that it’s making to NetSuite, its software for small and mid-sized businesses. It includes customer self-service, machine learning to identify gaps in transactions and recommend configurations for sites and new integration with Oracle’s flagship named ‘Autonomous Data Warehouse.’
The company is one of the first software-as-a-service providers and it announced that the business has stayed strong even during the pandemic with 23% growth this year to reach more than 22,000 customers.
The Executive VP for Oracle NetSuite and co-founder of NetSuite, Evan Goldberg, said that the company is seeing other companies accelerating their e-commerce.
Interconnectedness is the name of the game
Customers can connect to thousands of financial institutions all over the world to import transactions and account balances into NetSuite directly. The suite learns how to identify the different kinds of transactions.
Goldberg continued to say that the company will now be able to recognize how things should be categorized. The result of this is that everything about your cash standing is always updated.
Updates to the accounts payable component will allow customers to manage their workflows digitally. They can also automate entries; process electronic payment and scheduled payment runs. Invoices get grouped into a single entity, which makes them quicker to create.
NetSuite is part of Oracle Analytics Cloud
The NetSuite Analytics Warehouse has been integrated into Oracle Analytics Cloud and Autonomous Data Warehouse. This allows them to deliver real-time metrics across the businesses using the suite. The warehouse is then able to pill data in at automated intervals, analyze NetSuite data from other systems and take snapshots.
The ecommerce site manager is getting new customer self-service capabilities and deploys an intelligent agent, that suggests the best features and user interface for customer-facing sites. NetSuite is currently on track to rebuild most of the user interface around Oracle’s Redwood design specs, based on design thinking tenets.