Oracle NetSuite Supercharges the Suite with Expansion of Generative AI Capabilities

Oracle NetSuite has expanded its generative AI capabilities within its suite, introducing NetSuite Text Enhance to foster improved productivity and efficiency across various domains including finance, supply chain, sales, marketing, and customer support. Leveraging Oracle Cloud Infrastructure (OCI) and its leading AI services, this enhancement ensures data privacy and security, enabling personalized content creation without compromising sensitive information. With the integration of context-specific data, Text Enhance automates and refines tasks, ranging from financial reporting to customer service, streamlining operations, and facilitating strategic activities. This move builds on positive feedback from initial offerings and aims to significantly boost organizational performance by embedding AI across more processes within NetSuite’s comprehensive enterprise solution.

New use cases across finance and accounting, supply chain and operations, sales and marketing, and customer support help customers reach their goals faster and more efficiently  

NEW YORK, March 28, 2024 – SuiteConnect — Oracle NetSuite today announced it is expanding its generative AI capabilities across the suite. NetSuite Text Enhance helps users leverage company-specific, relevant data to create and refine contextual and personalized content. Now embedded in more finance and accounting, supply chain and operations, sales and marketing, and customer support processes, NetSuite Text Enhance will help organizations reach their goals faster and more efficiently by increasing productivity, reducing human error, improving consistency, and accelerating business processes.

“The initial Text Enhance capabilities that we announced at SuiteWorld 2023 have received an incredibly positive response and now we are adding hundreds of new use cases to enable our customers to be even more efficient,” said Evan Goldberg, founder and executive vice president, Oracle NetSuite. “With Text Enhance capabilities embedded in more text fields across the suite, we can help our customers increase speed, accuracy, and efficiency when performing nearly any type of task in NetSuite.”

Built on OCI and leveraging its leading AI services, the embedded NetSuite Text Enhance generative AI capabilities are designed to respect customers’ enterprise data, privacy, and security. With OCI Generative AI Service, no customer data is shared with large language model (LLM) providers or seen by other customers. In addition, an individual customer is the only entity allowed to use custom models trained on its data. To further protect sensitive information, role-based security is embedded directly into NetSuite workflows and only recommends content that end users are entitled to view.

By integrating company-specific and contextual data from across the suite, NetSuite Text Enhance helps customers enhance:

• Finance and Accounting: NetSuite Text Enhance helps finance and accounting teams expedite collections, close the books faster, and focus on more strategic and fulfilling work by accelerating time-consuming writing tasks. In addition to summarizing narratives for financial reports and personalized collection letters, new use cases include assisted authoring for journal entries to describe transactions and descriptions when creating a new account in Chart of Accounts; assisted authoring for purchase order entries including packing list and product labeling instructions; and assisted authoring for cash refund explanations to maintain consistency for customer communications and help internal auditors easily find the information they need.
• Supply Chain and Operations: NetSuite Text Enhance helps supply chain and operations teams streamline purchasing and logistics and improve the quality of product-related communications. In addition to suggested item descriptions, and assisted authoring of vendor engagement letters and procurement orders, new use cases help customers create support tickets for warehouse management issues and shipment summaries that describe the movement of goods; create supply chain snapshots and update supply chain snapshot simulations; and create project tasks and task assignments to accelerate project data entry, tracking, and reporting.
• Manufacturing: NetSuite Text Enhance helps streamline and accelerate the management of manufacturing operations. Use cases include assisted authoring of critical data entry and tracking activities including manufacturing planned time, operations tasks, and manufacturing routing; and creating consistent definitions for manufacturing cost templates to avoid confusion and errors when assigning them to the manufacturing operation.
• Sales and Marketing: NetSuite Text Enhance helps marketing and sales teams accelerate tasks and create more effective campaigns that drive revenue. In addition to assisted authoring of email content for marketing campaigns and sales pitches, new use cases help customers create quotes and summarize sales events to enable more consistent engagements; assisted authoring for lead-generation communications to ensure consistency in tone and structure; and assisted authoring for message development to help create targeted messaging.
• Human Resources: NetSuite Text Enhance helps employees, managers, and HR leaders increase the speed and accuracy of important HR activities. Use cases include assisted authoring of job descriptions and requisitions, employee goals, peer-to-peer kudos, and summaries of employee performance based on feedback gathered from peers, managers, and progress against goals throughout the year.
• Customer Support: NetSuite Text Enhance helps customer support agents increase productivity and improve the customer experience. In addition to assisted authoring for online comment responses, new use cases help businesses maintain accurate customer cases and issue records by summarizing customer events, root cause, and resolution.

NetSuite Text Enhance generative AI services are powered by OCI, which hosts both prebuilt and custom models. Leveraging OCI Supercluster, which includes bare metal compute instances, ultra-low latency RDMA networking, and high-performance storage, OCI helps accelerate LLM training with the highest performance at the lowest cost. This allows Oracle to deliver the fastest AI innovation in the industry and attract the best enterprise-focused innovators, including Cohere, to build on OCI, further contributing to the innovation feedback cycle.

Customer Success with NetSuite Text Enhance 
“NetSuite Text Enhance enables us to provide a better experience for our team and ultimately, our clients,” said David Lindmeir, CEO, Foretopia. “For example, Text Enhance helps our clients efficiently generate compelling item descriptions and job descriptions. It has already proven to be a huge time-saver for our team and we look forward to benefiting further from the expanded capabilities.”

“The generative AI features in NetSuite are helping us be more productive while ensuring the content generated is correct,” said Brian Wenzl, partner, Opal Creek Consulting. “In contrast to other products, NetSuite Text Enhance automatically integrates relevant contextual data to enrich the AI-generated response and with additional use cases being added across the suite, we know it will continue to bring even more efficiencies to our business.”

About Oracle NetSuite 
For more than 25 years, Oracle NetSuite has helped organizations grow, scale, and adapt to change. NetSuite provides an integrated system that includes financials / Enterprise Resource Planning (ERP), inventory management, HR, professional services automation and omnichannel commerce, used by more than 37,000 customers in 219 countries and dependent territories.

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SOURCE Oracle NetSuite