Oracle NetSuite has announced new AI innovations designed to help UK organizations run their businesses more efficiently. The expanded AI capabilities include new AI agents and generative AI features that streamline data entry, improve productivity, detect financial exceptions, and enhance decision-making processes.
The new AI capabilities are part of NetSuite’s strategy to make artificial intelligence more accessible to its customers. By offering these features at no additional cost and integrating them directly into the platform, NetSuite aims to reduce barriers to entry for organizations looking to benefit from AI technology. Currently most of these new features are limited to the UK only, they should become available in more regions in the upcoming months.
Text Enhance expansion and NetSuite Expert for SuiteAnswers
Among the key updates is Text Enhance for custom fields, which helps organizations improve data entry speed and accuracy. This feature leverages generative AI capabilities and relevant company data to populate custom fields. Using Prompt Studio, administrators can configure AI-generated text suggestions in specific formats, tones, and creativity levels for any custom text field.
NetSuite Expert for SuiteAnswers is another addition. It provides an AI agent that delivers tailored guidance based on NetSuite’s support resources. Users can ask questions in natural language, and the agent analyzes thousands of support articles to instantly provide specific answers and actionable insights.
Financial Exception Management and SuiteAnalytics Assistant
The NetSuite Financial Exception Management agent helps organizations increase efficiency and mitigate risk by automatically detecting and managing financial exceptions with agentic AI. This allows customers to quickly assess situations, identify transactions needing investigation, and resolve issues before the period closes.
NetSuite SuiteAnalytics Assistant enables users to retrieve information from workbooks and create reports and visualizations using natural language. For example, users can ask for reports on accounts payable aging or top customers by balance and receive AI-powered summaries with key takeaways.
Developer tools and automation
For developers and partners, NetSuite has introduced the Prompt Management API, which centralizes the management and deployment of prompts used by large language models. This API enables customers and partners to programmatically control NetSuite Text Enhance prompts and actions, making integrating generative AI features into custom solutions easier.
The Generative AI for SuiteScript API helps organizations quickly introduce new AI-powered functionality by enabling them to embed generative AI capabilities into NetSuite extensions and customizations. This allows customers to complement NetSuite’s out-of-the-box AI features with capabilities tailored to their unique business needs.
NetSuite Bill Capture leverages AI and machine learning to automate the invoice capture process. Invoice record fields are automatically populated with appropriate details, applying intelligent data recognition and learning from previous vendor invoices to improve accuracy.
Building on previous innovations
These new AI capabilities build upon NetSuite’s previous portfolio expansions. The company continues to develop its AI offerings that allow companies to use relevant proprietary data to create contextual and personalized content.
NetSuite’s AI strategy aligns with broader industry trends, as discussed by Brian Chess, SVP of Technology and AI at Oracle NetSuite, who has shared insights on how the company is developing AI features for its customers, including multilingual capabilities and customer-specific models.
As organizations in the UK continue to seek ways to improve efficiency and do more with less, NetSuite’s AI innovations provide tools to streamline operations, enhance data quality, and drive better decision-making across the business.