NetSuite has introduced a range of AI-driven innovations, new product offerings, and integrations designed to enhance business efficiency, streamline processes, and support diverse revenue models. These updates, announced at SuiteConnect New York, aim to automate operations, reduce manual workload, and improve financial and procurement functions for organizations of all sizes.

AI and Automation Updates

NetSuite has expanded its AI capabilities to accelerate data management, optimize product configurations, and improve issue resolution. New features include:

NetSuite Text Enhance for automating data entry in custom text fields.
Prompt Management API for centralized AI model deployment.
NetSuite CPQ AI Assistant to streamline product configurations.
NetSuite Expert for SuiteAnswers to assist customers with AI-powered insights.

“NetSuite provides an enterprise-grade platform for businesses of all sizes that delivers the scalability, performance, AI innovation, and security that customers need to support any stage of growth,” said Evan Goldberg, founder and executive vice president, Oracle NetSuite. “With new AI-powered advisor and assistant features and a broad range of other updates to help businesses of all sizes, we continue to enable our customers to gain more value from the suite.”

New Product and Integration Enhancements

Several new solutions have been launched to improve operational flexibility and business model adaptability:

NetSuite SuiteSuccess Anything-as-a-Service (XaaS) Edition: A pre-configured platform tailored for businesses offering both products and services, streamlining financials, inventory, project management, and revenue recognition.
NetSuite Connector for Outlook: Enables seamless data synchronization between Microsoft Outlook and NetSuite, reducing manual data entry and improving sales efficiency.
NetSuite Advanced Procurement: Enhances purchasing efficiency with real-time supplier collaboration via Oracle Business Network, automating supplier catalog access and purchase order generation.
NetSuite SuiteBilling Enhancements: Introduces prepay functionality and customizable subscription invoicing, allowing businesses to collect payments in advance and manage consumption-based pricing models.
Digital Business Network Alliance Integration: Automates electronic invoice exchanges, helping businesses streamline settlement processes and optimize working capital.

Migration to Oracle Autonomous Database

NetSuite is transitioning to Oracle Autonomous Database within Oracle Cloud Infrastructure (OCI), enhancing security, reliability, and performance. This migration will provide NetSuite customers with AI-driven automation and database management improvements.

Availability

These latest updates reinforce NetSuite’s commitment to delivering AI-powered business tools that enhance productivity and efficiency. For more information on these new features, visit NetSuite’s AI Advantage.

This article, “NetSuite Expands AI Capabilities and Product Enhancements to Boost Business Efficiency” was first published on Small Business Trends