Oracle NetSuite unveils AI tools for Australia, NZ firms

Oracle NetSuite has announced the introduction of new generative AI capabilities aimed at enhancing organisational efficiency for its clients in Australia and New Zealand.

NetSuite Text Enhance, a feature embedded across the suite, enables organisations to utilise company-specific and contextual data, assisting finance, HR, supply chain, sales, marketing, and customer service teams to improve productivity and streamline business processes. The AI capability is integrated into the platform and available at no extra cost, allowing businesses already utilising NetSuite to easily adopt the new features.

"We have delivered more AI-powered capabilities to help our customers in Australia and New Zealand boost productivity and turn the power of their organisational data in NetSuite into a competitive advantage," said Scott Wiltshire, Vice President and General Manager, Oracle NetSuite ANZ. "By embedding our Text Enhance generative AI capabilities across the suite at no additional cost, we are helping our customers increase the speed, accuracy, and efficiency of nearly any type of task in NetSuite."

The NetSuite Text Enhance feature is designed to support a range of functions across various departments. In finance and accounting, it aids in expediting tasks such as authoring notes for journal entries and communications, thus allowing teams to focus on strategic work. Supply chain and operations teams can use the feature to create procurement orders, engagement letters, and other logistics-related tasks more efficiently.

Manufacturing operations benefit from NetSuite Text Enhance by streamlining the management of critical data entries and creating consistent cost templates, reducing errors during task assignments. Sales and marketing teams can leverage the feature to draft effective campaign communications, sales quotes, and event summaries, thereby accelerating their workflows.

The generative AI capability extends to human resources, where it assists in generating job descriptions and performance summaries, and the customer support sector, where it aids in forming responses and summarising customer issues.

Additionally, NetSuite has launched the "Generative AI for SuiteScript API," enabling developers and administrators to enhance AI functionality within NetSuite's extensions and customisations. This addition allows organisations to further enrich their suite by incorporating AI features that cater to specific business requirements.

The AI capabilities are built on Oracle Cloud Infrastructure (OCI), with privacy and security safeguarding the enterprise data. The OCI Generative AI service ensures that customers' data isn't transmitted to the language model provider, Cohere, or accessed by other customers. Role-based security measures are embedded into NetSuite workflows, ensuring that users access only the content they are entitled to view.