ORACLE NetSuite announced at SuiteWorld 2024 held in Las Vegas, Nevada, a series of new AI innovations and updates 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 of Oracle NetSuite. “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.
EPM AI capabilities
New AI-powered updates to NetSuite Enterprise Performance Management (EPM). The latest updates will help finance teams streamline reporting, expand insights, improve decision-making, and steer their business toward new growth opportunities.
“Finance teams often spend a significant amount of time gathering data and creating narratives to explain financial results, justify important decisions, and forecast future growth. This can be a labor-intensive process that often diverts time away from more strategic analysis and slows down decision-making,” said Goldberg. “To address this challenge, the latest updates to NetSuite EPM help finance teams leverage powerful AI innovations to help increase efficiency, expand insights, and enable more time to be spent on value-added activities.”
NetSuite EPM is built on Oracle Fusion Cloud Enterprise Performance Management and is integrated into NetSuite, helping organizations improve the efficiency and accuracy of financial processes and gain the business insights they need.
AI startups successfully scale ops
Industry-leading artificial intelligence (AI) startups are turning to Oracle NetSuite to increase efficiency and scale operations to meet growing demand. 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 Goldberg. “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.”
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