1. NetSuite Text Enhance with embedded AI
While NetSuite has been layering AI capabilities onto the platform for several years, AI will now be built into the base code of NetSuite as Text Enhance, a text-based automation tool that uses company-specific data to produce personalized content. With just a few keywords, NetSuite users can access AI-powered content specific to their needs.
The enhancement uses NetSuite platform data (with permission) to safely and securely build a pool of relevant and contextual information. This data, pulled from thousands of fellow platform users, can help inform both content automation and future-state planning. The AI prompts suggest realistic next steps based on relevant historical data from similar users in similar industries.
For example, Text Enhance can help sales teams run relevant ad campaigns or assist accounting teams to write targeted collection letters. Embedding AI could help platform users across departments and in every role – from sales representatives to warehouse managers. Overall, Text Enhance can help support:
- Human resources
- Marketing and sales
- Finance and accounting
- Operations and supply chain
- Customer support
SuiteWorld 2023 revealed how NetSuite is thinking about AI applications and how this technology could help its platform users. Text Enhance is set to apply AI features that both assist and advise.
2. Next Technik and Field Service Management by NetSuite
NetSuite has formally acquired Next Technik, a field services management solution. This acquisition subsequently unveiled Field Service Management by NetSuite, a system built to help field service and project-based organizations oversee workers in maintenance, facilities management, field operations, construction, and heating, ventilation, and air conditioning.
The solution features inventory management, schedule and dispatch support, dashboard enhancements, and field service process automations. With these functions, NetSuite can help organizations increase field productivity, enhance field-to-office communication, and enable better forecasting and decision-making across the board.
3. Enterprise performance management
NetSuite revealed another layer of its enterprise performance management (EPM) tool built to help finance and accounting teams tackle key challenges such as disconnected systems unreliable data, and outdated processes through automation and seamless integration with the platform’s enterprise resource planning solution.
This full-suite solution can help finance leaders in several areas:
- Financial close
- Account reconciliation
- Narrative and corporate tax reporting
- Profitability and cost management
- Planning, budgeting, and forecasting
Through strengthened automation and process efficiencies for routine tasks, EPM can unburden finance teams and provide the space needed to build strategic partnerships with the executive team and help grow the business.
Headed into 2024
SuiteWorld 2023 set a positive and pioneering tone, showcasing the company’s commitment to continual product enhancements that help users do their best work.
