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Oracle NetSuite Supercharges the Suite with Expansion of Generative AI Capabilities

Oracle NetSuite's Enhanced Capabilities for Generative AI Boost the Suite

Oracle NetSuite Supercharges the Suite with Expansion of Generative AI Capabilities - Supply Chain Tribe by Celerity

Oracle NetSuite recently revealed that it is enhancing the suite's generative AI features. With the use of company-specific, pertinent data, NetSuite Text Enhance enables users to produce and enhance contextual and personalized content. NetSuite Text Enhance is now integrated into more processes related to finance and accounting, supply chain and operations, sales and marketing, and customer support. By boosting productivity, decreasing human error, enhancing consistency, and speeding up business processes, it will assist organizations in achieving their objectives more quickly.

"We are adding hundreds of new use cases to enable our customers to be even more efficient. The initial Text Enhance capabilities that we announced at SuiteWorld 2023 have received an incredibly positive response," stated Evan Goldberg, creator and executive vice president of Oracle NetSuite. With Text Enhance features integrated into additional text fields throughout the suite, we can assist clients in achieving more productivity, accuracy, and speed while working with almost any kind of NetSuite activity."

The integrated NetSuite Text Enhance generative AI capabilities are made to protect customers' enterprise data, privacy, and security because they are built on OCI and make use of its industry-leading AI services. No customer information is shown to other customers or shared with large language model (LLM) providers when using OCI Generative AI Service. Furthermore, the only organization permitted to employ custom models trained on its data is a single client. Role-based security is integrated directly into NetSuite workflows and only suggests content that end users are authorized to view in order to further safeguard critical data.

Through the integration of contextual and company-specific data from throughout the suite, NetSuite Text Enhance assists clients in improving:

Finance and Accounting: NetSuite Text Enhance speeds up time-consuming writing activities so that finance and accounting professionals may focus on more strategic and rewarding work, close the books more quickly, and accelerate collections. New use cases include help writing journal entries to describe transactions and descriptions when creating a new account in the Chart of Accounts; help writing purchase order entries, including packing lists and product labeling instructions; and help writing cash refund explanations to maintain consistency for customer communications and make it easier for internal auditors to find the information they need. These use cases are in addition to summarizing narratives for financial reports and creating personalized collection letters.

Supply Chain and Operations: Supply chain and operations teams can increase the quality of product-related communications and streamline purchasing and logistics with the help of NetSuite Text Enhance. 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 speed up project data entry, tracking, and reporting. These services are in addition to suggested item descriptions and assisted authoring of vendor engagement letters and procurement orders.

Manufacturing: Manufacturing operations management can be expedited and streamlined with the use of NetSuite Text Enhance. In order to prevent confusion and mistakes when assigning manufacturing cost templates to the appropriate manufacturing operation, use cases include assisted authoring of crucial data entry and tracking tasks such as manufacturing planned time, operations tasks, and manufacturing routing.

Sales and Marketing: Marketing and sales organizations may expedite tasks and build more revenue-generating campaigns using NetSuite Text Enhance. New use cases include helping clients create quotes and summarise 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 assist in creating targeted messaging, in addition to assisted authoring of email content for marketing campaigns and sales pitches.

Human Resources: Employees, managers, and HR directors can improve the efficiency and precision of critical HR tasks with the aid of NetSuite Text Enhance. Use cases include peer-to-peer praises, employee goals, job descriptions and requisitions that are assisted in writing, and summaries of employee performance based on input from managers and peers as well as progress made toward annual goals.

Customer Support: client service representatives may boost productivity and enhance the client experience with the aid of NetSuite Text Enhance. New use cases, which summarize client events, root cause, and resolution, assist organizations in maintaining accurate customer cases and issue records in addition to assisting with the writing of online comment comments.

OCI powers NetSuite Text Enhance generative AI services by hosting both bespoke and prebuilt models. By utilizing OCI Supercluster, which offers ultra-low latency RDMA networking, high-performance storage, and bare metal compute instances, OCI speeds up LLM training while maintaining the lowest possible cost. As a result, Oracle is able to produce AI innovations at the fastest rate in the market and draw in the top innovators with an enterprise emphasis, such as Cohere, to expand on OCI and add to the innovation feedback loop.