NetSuite launches Redwood UX and unveils new AI features at SuiteWorld

Day one of SuiteWorld 2024 has kicked off in sunny Las Vegas, drawing a global audience to explore the future of NetSuite's cloud ERP technology. This annual conference is a key event for NetSuite customers, showcasing an array of new advancements coming to its platform and wider ecosystem. Naturally, the Annexa team is on the ground, ready to bring you the latest updates and key announcements. 

It's always the keynote presented by NetSuite Founder Evan Goldberg that is most anticipated.  

Goldberg opened with an update on NetSuite's impressive growth. The global NetSuite community, Goldberg shared, now reaches 40,000 customers in 219 countries and dependent territories. Oracle's infrastructure continues to grow as well, with 36 data centres across 17 Oracle Cloud Infrastructure (OCI) regions globally. 

But it's all the biggest product announcements that we are here for, and this year did not disappoint.  

Let's recap all the newest product announcements direct from NetSuite. 

New UX Redwood officially launches 
NetSuite has been gradually unveiling elements of its new user experience, Redwood, over the past few years, teasing its features and capabilities in bits and pieces. Hillel Cooperman, Oracles Senior Vice President of UX Design, was invited to the stage to present the Redwood user experience in more detail.  

Cooperman shared that Redwood has been built to address the evolving expectations of business users who have grown accustomed to consumer-grade software experiences. Inspired by the principles of simplicity and efficiency, he says Redwood will make it easier for users to navigate and interact with the system. 

Specifically, Redwood has been developed to: 

• Understand user needs: By mapping out user workflows and pain points, Redwood's design team has tailored the interface to better meet the diverse needs of its users. 
• Simplify complex interactions: Redwood reduces friction by streamlining navigation and automating routine tasks, making the system more accessible and efficient. 
• Enhance usability: The new design integrates natural language processing and customisable dashboards to ensure that users can interact with the system in a way that feels natural and supports their specific needs. 

Following a quick demonstration of the new interface, it became clear that NetSuite users would have a far more seamless and user-friendly interface across the NetSuite platform.  
Some key upgrades include:  

• Natural language processing: Users can search and interact with the system using everyday language, making navigation and data retrieval simpler and more intuitive. 
• Customisable dashboards: Redwood introduces highly customisable dashboards, allowing real-time adjustments to reports and visualisations for a more tailored user experience.
• Enhanced search and command box: A new command box facilitates natural language queries, providing suggestions and making it easier to find and execute tasks. 

But don't expect the full UX to drop overnight. Goldberg says the rollout of Redwood will be gradual, starting with core components like dashboards, lists, and forms before expanding across the NetSuite suite.  

If you want to see Redwood in action right now, the best place to look is the Customer 360 dashboard, where its enhanced functionality is on full display. 

NetSuite Enterprise Performance Management upgrades 
At Annexa, we have seen considerable interest in the EPM suite amongst our ANZ customers, with several successful implementations of NetSuite Planning & Budgeting (NSPB) and NetSuite Analytics Warehouse (NSAW) completed. In fact, as one of Annexa's Directors, I will be taking part in a Q&A on this very topic during the SuiteWorld Partner Update and Awards Lunch this week. 

For those unfamiliar, NSPB streamlines financial planning and forecasting by integrating operational data, enabling more accurate budgets and strategic growth. NSAW is a data warehouse and visual analytics tool which accelerates data analysis and provides deep insights through advanced analytics and custom machine learning models, enhancing decision-making and efficiency. 

We were thrilled to hear Goldberg announce further AI-led upgrades to these solutions. The new features include generative AI capabilities for narrative reporting in NSPB, enabling automatic generation of detailed financial narratives, and advanced predictive forecasting tools that refine budgeting accuracy. NSAW has also been upgraded with enhanced business driver identification and scenario prediction capabilities, offering even deeper insights and better alignment with business goals. 

Even more AI capabilities on the way 
We expected AI to be front and central throughout the keynote. And indeed, several new AI features were introduced.  

Notable advancements include: 

• NetSuite Financial Exception Management - uses AI to automatically detect and address financial discrepancies or anomalies. 
• NetSuite SuiteAnalytics Assistant - allows users to generate reports and insights through a natural language interface.  
• NetSuite Prompt Studio - lets users customise AI-generated content by adjusting response formats, tone, and style to fit specific needs. It also allows for easy deployment of prompts across records using simple, plain language instructions. 
• Generative AI for SuiteScript API  - facilitates embedding AI functionalities into custom NetSuite extensions.  
• Oracle Code Assist - helps developers speed up the creation of extensions and customisations, generating boilerplate code, and providing support for coding queries. 
• Advanced Customer Support (ACS) AI Playbook - for optimising AI capabilities across the suite.  

Other notable new product drops 
Guided Learning – an interactive training resources directly embedded in the NetSuite environment - is currently actively used by 82% of NetSuite customers.  While guided learning has been around for a while now, the new update allows users to customise guided learning specific to their instance ofNetSuite, further improving user adoption. The solution also features detailed analytics reports, helping organisations maximise the suite's value and promote productivity. 

NetSuite SuiteProjects Pro, formerly NetSuite OpenAir - delivers advanced project management with AI enhancements. Its advanced planning tools and real-time insights will directly translate to improved project monitoring, resource allocation, and profitability. 

NetSuite SuiteProcurement – Goldberg says it will streamline indirect procurement by automating purchasing approvals, order creation, invoicing, and reporting. It also offers access to preferred pricing and benefits from suppliers like Amazon Business and Staples Business Advantage. This looks more like a solution suitable for US businesses, at least based on initial sneak peeks. 

NetSuite Connector for Salesforce - it integrates the two platforms in real-time, improving data visibility across order details, fulfillment, and financials.  This is an 'out of the box' (NetSuite native) basic NetSuite to Salesforce connector. 

NetSuite customers can expect new product announcements and even more details over the coming days, so stay tuned. I'll be back to unveil key innovations from days 2 and 3, this Thursday.