Oracle NetSuite to enhance customer experience by leveraging AI capabilities
The cloud-based business management software announced new AI offerings to help customers gain more value from their investment in the company and its offered features.
Oracle NetSuite has incorporated new AI offerings aimed at improving the customer experience, development, processes and insights.
According to the company, the latest AI-powered capabilities in NetSuite will help customers detect financial exceptions, interact with data in new ways, and embed and customise generative AI in NetSuite extensions.
Oracle NetSuite said as a result, customers can take advantage of the latest AI innovations to assist in increasing efficiency, mitigating risk, driving better decision-making, and reaching their goals faster.
Oracle NetSuite founder Evan Goldberg said the latest updates build on the hundreds of new generative AI use cases added in the last 12 months, which will aid customers in further increasing productivity and gaining value.
“We are embedding AI-powered capabilities across the suite so customers are benefitting from it as soon as they log in,” he said.
“By ensuring AI is built into existing business processes and not bolted on, we are helping our customers achieve immediate value from the latest AI innovations at no additional cost.”
The latest NetSuite AI updates include a variety of new features such as financial exception management, a SuiteAnalytics assistant, a prompt studio, generative AI for SuiteScript API, code assist optimisation, and an advanced customer support AI playbook.
In addition to this, Oracle NetSuite has also introduced new enterprise performance management (EPM) AI capabilities to help finance teams accelerate processes.
The business management company said new AI-powered updates have been added to the NetSuite EPM for the benefit of global finance teams.
NetSuite said the latest updates will help finance teams streamline reporting, expand insights, improve decision-making, and steer their business towards new growth opportunities.
Goldberg explained the new updates will help finance teams address the “labour intensive” processes they often encounter.
“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,” he said.
“This can be a labour-intensive process that often diverts time away from more strategic analysis and slows down decision-making.
“To address this challenge, the latest updates will help finance teams leverage powerful AI innovations to help increase efficiency, expand insights, and enable more time to be spent on value-added activities.”
The latest AI updates to the NetSuite EPM include GenAI for narrative reporting, AI-powered narratives in planning and budgeting, predictive forecast explanations in planning and budgeting, as well as an AI-driven digital assistant.
Goldberg noted the company will be looking to better its systems by utilising the opportunities in developing technology.
