New generative AI-powered capabilities help users across the organization leverage company-specific, relevant data to produce content that is contextual and personalized
LAS VEGAS, Oct. 17, 2023 /PRNewswire/ — SUITEWORLD 2023 — Oracle NetSuite today announced new generative AI-powered capabilities to help organizations reach their goals faster and more efficiently. Supported by the Oracle Cloud Infrastructure (OCI) generative AI service and embedded across the suite, NetSuite Text Enhance helps users leverage company-specific, relevant data from across NetSuite to create and refine content that is contextual and personalized. With NetSuite Text Enhance, finance and accounting, HR, supply chain and operations, sales and marketing, and customer support teams can leverage AI to produce relevant drafts or refine existing content.
“We’ve been building AI into NetSuite for several years to help our customers be more productive and successful. Recent breakthroughs in AI create the opportunity for a quantum leap in doing more with less,” said Evan Goldberg, founder and EVP, Oracle NetSuite. “By taking advantage of Oracle’s best-in-class AI services and having unified data within a suite, we are uniquely placed to help our customers achieve immediate value from the latest AI innovations. The new Text Enhance capabilities are just the start, and we will continue to embed powerful AI capabilities across the suite to help our customers turn the breadth and depth of their organizational data into a competitive advantage.”
Adding to the existing AI capabilities in NetSuite, NetSuite Text Enhance will help customers further increase productivity by streamlining processes and automating the generation of context-sensitive content across every area of the suite. For example, in the sales process, when a prospect reaches out to an organization using NetSuite and expresses interest in a particular product or service, NetSuite Text Enhance can make it quick and easy for a user to produce a contextual email response by using a combination of ERP, CRM, and supply chain data. The email can be aligned to the organization’s current campaigns and include details such as the latest product description, product images, pricing information, availability, and delivery details.
By integrating company-specific and contextual data from across the suite, NetSuite Text Enhance will help customers transform:
Finance and Accounting: NetSuite Text Enhance can help finance and accounting teams to expedite collections, close the books faster, and focus on more strategic and fulfilling work by accelerating time-consuming writing tasks. Examples of assisted authoring use cases include writing targeted and personalized collection letters and generating summaries and narratives for financial reports.Supply Chain and Operations: NetSuite Text Enhance can help supply chain and operations teams streamline purchasing and logistics and improve the quality of product-related communications. Examples of assisted authoring use cases include generating procurement orders and request letters; developing personalized vendor engagement letters and emails to chase delayed purchase orders; developing customer updates on delivery schedules; and creating product descriptions that are used by sales, support, and implementation teams for invoices, website, and point-of-sale systems. Sales and Marketing: NetSuite Text Enhance can help accelerate marketing and sales tasks to create more effective campaigns that drive revenue. Examples of assisted authoring use cases include developing personalized email content for marketing campaigns and sales pitches; generating contextual responses to leads and prospects; and drafting written quotes and proposals. Human Resources: NetSuite Text Enhance can help employees, managers, and HR leaders increase the speed and accuracy of important HR activities. Examples of assisted authoring use cases include writing job descriptions and requisitions; drafting goals, including detailed descriptions and measures for success; creating content for peer-to-peer kudos; providing a summary of the employee’s performance based on feedback gathered across the year from the employee, peers, or managers, and goal progress and achievements.Customer Support: NetSuite Text Enhance can help increase customer support agent productivity and improve the customer experience. Examples of assisted authoring use cases include generating responses to online customer comments, such as reviews and commentary in forums and on social media; creating escalation notices for internal teams; and customer support case updates for both internal teams and customers.
Built on OCI and leveraging its best-in-class AI services, the embedded generative AI capabilities within NetSuite are designed to respect customers’ enterprise data, privacy, and security. OCI hosts both prebuilt and custom models. With Oracle’s generative AI service, no customer data is shared with LLM providers or seen by other customers or other third parties. In addition, an individual customer is the only entity allowed to use custom models trained on its data. Role-based security embedded directly into NetSuite workflows helps to protect sensitive information about customers and only recommends content that individual users are entitled to view.
OCI accelerates LLM training with the highest performance at the lowest cost by leveraging OCI Supercluster, which includes bare metal compute with NVIDIA GPUs and the highest bandwidth RDMA network in the cloud. 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. In addition, OCI’s generative AI services provide end-to-end security.
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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