Announced at SuiteWorld 2023 in Las Vegas, Oracle NetSuite has unveiled an array of innovations, partnerships and new GenAI capabilities.
Firstly, Oracle has completed the acquisition of Next Technik, a provider of field service management solutions for NetSuite customers and is now part of the Oracle NetSuite organization. This acquisition provides field service management capabilities for NetSuite customers, enabling businesses to digitize and streamline scheduling and dispatch. It allows customers to manage inventory and assets for increased productivity and customer satisfaction.
NetSuite has also announced the latest updates to NetSuite Analytics Warehouse to help organizations improve data management so customers can quickly build analyses to increase efficiencies and reduce costs, gain a better understanding of their customers and leverage data to innovate and grow more efficiently.
Cohere has selected NetSuite to support its mission and empower enterprises to enhance business processes with language AI. With NetSuite, Cohere will leverage an integrated business suite to improve productivity, scale its business and meet the growing demand for GenAI-powered services for organizations across the globe.
Additionally, TGI Fridays and Manolo Blahnik have also selected Oracle NetSuite to take advantage of its integrated business suite to consolidate financial processes, increase efficiency, enhance cash flow and inventory control and optimize operations.
“With our business growing extremely rapidly, NetSuite provides huge efficiency advantages over our previous manual financial reporting systems, which had become too time-consuming and cumbersome,” said Martin Kon, president and COO of Cohere.
“Regularly using NetSuite will also help our product teams identify areas where Cohere’s AI technology can enable exciting innovations that will make the software even more useful and easy to use. We look forward to working with NetSuite, as both a customer and a technology partner, to help its customers benefit from further AI productivity gains.”
Additionally, NetSuite has unveiled new AI innovations which expand its portfolio of solutions and AI offerings which will be added across its entire suite. These innovations will enable customers to plan and budget, reduce manual data entry and expand business insights. New AI-powered capabilities include Text Enhance, Planning and Budgeting, Bill Capture and Analytics Warehouse.
NetSuite is also enhancing the financial management capabilities including the introduction of a new enterprise performance management (EPM).
New financial innovations include Capital, Pay, Electronic Invoicing, Transaction Line Distribution and Benchmark 360. NetSuite has also introduced a new field service management solution as well as new commerce and subscription management capabilities to meet customer demands and deliver seamless experiences.
Evan Goldberg, founder and EVP, Oracle NetSuite, said: “Over the past 25 years, our mission has stayed the same, deliver a unified suite of cloud applications that enable customers to do more with less and grow their businesses.
“We continue to extend the capabilities of NetSuite to support this mission and help our more than 37,000 customers benefit from the latest cloud and AI innovations. Our new updates include traditional and GenAI capabilities embedded throughout the suite to help increase user productivity, reduce costs and improve overall business efficiency.”
New NetSuite innovations will help manufacturers in Brazil and organizations in Spain which will boost global expansion. These new innovations will allow organizations with manufacturing operations in Brazil to utilize the cloud to increase productivity, support compliance with Brazilian legislation, plan and control their manufacturing process and streamline operations. Organizations in Spain can leverage NetSuite’s new innovations to run more efficiently and make better use of business data.
