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 /PRNewswire/ --
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.
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"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.
Trademarks
Oracle, Java, MySQL and NetSuite are registered trademarks of
Oracle Corporation. NetSuite was the first cloud
company—ushering in the new era of cloud computing.
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SOURCE Oracle NetSuite