Oracle NetSuite is celebrating 25 years in business in Las Vegas this week, and IT Europa is here to report channel developments at the ERP, CRM, logistics and supply chain, and financial services software provider.
The latest NetSuite innovations, announced at the annual SuiteWorld show for customers and partners, include both traditional and generative AI-powered capabilities across the entire suite; new field service management and enterprise performance management (EPM) solutions; and new capabilities that help finance and customer experience professionals improve the speed and accuracy of business processes.
NetSuite is also introducing a new licensing model that will give customers task-specific licenses for employees that don’t require full access. For example, a warehouse employee who only needs NetSuite access for receiving, putaway, picking, and shipping, will gain access to NetSuite’s relevant warehouse management functionality, without requiring a full subscription.
Initially available for NetSuite Warehouse Management, the new licensing model will make it easier for customers to boost productivity by giving more employees access to NetSuite, said the company.
“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,” said Evan Goldberg, founder and EVP, Oracle NetSuite.
“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 generative AI capabilities embedded throughout the suite to help increase user productivity, reduce costs, and improve overall business efficiency.”
New AI-powered capabilities include NetSuite Text Enhance to help users create contextual and personalised content for any text area in NetSuite, and capabilities in NetSuite Planning and Budgeting help organisations automate data analysis to improve and accelerate decision making.
Also on the AI front, NetSuite Bill Capture helps organisations intelligently capture and categorise expenses based on historical data, and new capabilities in NetSuite Analytics Warehouse consolidate and centralise data from a multitude of sources, and help firms accelerate access to data visualisations and reporting.
To help customers further streamline financial planning and reporting, improve access to working capital, accelerate payments, and automate compliance, NetSuite is also enhancing the financial management capabilities across the suite, and introducing new EPM, digital payment, and e-invoicing solutions.
NetSuite Enterprise Performance Management is a new integrated set of finance solutions that connects financial and operational planning, automates account reconciliation, streamlines close processes, and enhances tax and narrative reporting.
In addition, NetSuite Capital is a new embedded service that helps organisations improve their cash flow and reduce days sales outstanding (DSO). Customers can accelerate payments and increase working capital by reviewing, pricing, and submitting invoices from accounts receivable for immediate payment.
And NetSuite Pay is a digital payments solution embedded in NetSuite that helps customers accelerate and simplify the application and onboarding process for new merchant accounts. Versapay is the first partner to support this new solution.
These, and many other new products and services, were announced this Tuesday morning in Las Vegas, and show there are plenty of new opportunities for NetSuite’s growing partner ecosystem.
More to follow from SuiteWorld