Oracle NetSuite is out with an upgraded and AI-enhanced product suite across its business management and commerce software. The long-time provider of integrated ERP and ecommerce technology promises to help companies accelerate growth while also increasing operating efficiency.

“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,” says Evan Goldberg, founder and executive vice president, Oracle NetSuite, adding, “As customers scale their businesses on NetSuite, AI innovations and workflow optimizations help them gain intelligent insights, improve productivity, and simplify collaboration.”

At its annual SuiteWorld user conferenced this month, NetSuite announced a long list of technology upgrades, including:

⦁ AI-powered automated detection of financial exceptions, identifying risky activity and ways to resolve problems.

⦁ An AI-powered SuiteAnalytics tool using generative AI through a natural language interface for pulling custom reports on such things as customer balances and accounts/payable records.

⦁ SuiteProcurement, which is designed to help businesses automate such tasks as purchase approvals and invoicing. SuiteProcurement also helps buyers access preferred pricing and other benefits from such suppliers as Amazon Business and Staples Business Advantage, as illustrated below.

NetSuite SuiteProcurement software helps procurement professionals interact with sellers like Staples Business Advantage and Amazon Business.

⦁ Connector for Salesforce provides real-time data flow between NetSuite and Salesforce to accelerate order-to- cash and revenue-recognition processes and expand  visibility into order and fulfillment details and customer information.

⦁ Analytics Warehouse is designed with embedded AI to help companies accelerate data analysis for such tasks as identifying business growth drivers and predicting customer churn and inventory stockouts.

In addition, NetSuite has released tools for helping businesses introduce AI-powered functionality and related productivity:

⦁ Generative AI for SuiteScript API, designed to help companies introduce new AI-powered functionality by embedding GenAI capabilities into NetSuite software extensions and customizations to suit their business requirements.

⦁ Prompt Studio, which helps companies refine the quality of AI-generated content by enabling administrators and developers to configure the format, tone, and creativity level of responses. “As a result, customers can gain more control over generative AI prompt configuration and enhance end-user productivity,” NetSuite says.

⦁ Advanced Customer Support AI Playbook, which is designed to help companies “configure, optimize and create new AI-powered capabilities that support increased efficiency, expanded insights and enhanced decision-making.”

A unit of Oracle Corp., NetSuite provides an integrated system that includes financials management, enterprise resource planning, inventory management, HR, professional services automation and omnichannel commerce. A pioneer of cloud-based business software, NetSuite has more than 40,000 customers in 219 countries and dependent territories.

Paul Demery is a Digital Commerce 360 contributing editor covering B2B digital commerce technology and strategy. [email protected].

Sign up

Sign up for a complimentary subscription to Digital Commerce 360 B2B News, published 4x/week. It covers technology and business trends in the growing B2B ecommerce industry. Contact Mark Brohan, senior vice president of B2B and Market Research, at [email protected]. Follow him on Twitter @markbrohan. Follow us on LinkedIn, Twitter, Facebook and YouTube