![]() ![]() Finally, NetSuite Tax Management will help customers automate workflows and centralize all tax-related tasks into a single dashboard.Īn essential benefit of NetSuite is that customers have all their data in one place and a single version of the truth. NetSuite EPM includes profitability and cost management, highlighting which customers, products, and business segments perform profitably. Finance teams can also use NetSuite EPM for collaboration so they can define, author, review, and publish management and regulatory information. Narrative reporting, which is non-financial information included in financial reports, can now be combined with financial statements and data in a single report. NetSuite Account Reconciliation, launched earlier this year, is also part of NetSuite EPM and is used to automate the reconciliation process. New predictive algorithms in NetSuite Planning and Budgeting continuously monitor and analyze plans, forecasts, and variances to uncover and highlight trends, anomalies, and correlations. This means that the process of planning and budgeting, traditionally often labor-intensive, is now automated. NetSuite EPM brings together planning, budgeting, forecasting, account reconciliation, financial closing, and reporting processes for small and medium-sized organizations. Using Oracle Fusion Cloud EPM as a foundation, the NetSuite team has created NetSuite Enterprise Performance Management. In another example of its collaboration with Oracle, NetSuite has leveraged Oracle Fusion Cloud Enterprise Performance Management, which aims to help organizations analyze, understand, and plan strategically. Improving the speed and accuracy of financial processes And the list went on with examples of sales and marketing as well as customer support. In HR, this may help with writing job descriptions and requirements or drafting goals and performance appraisals. In supply chain and operations teams, it can help generate product details, purchase orders, request letters, emails to chase up delayed purchase orders, and customer updates on delivery schedules. ![]() In finance and accounting, he explained that NetSuite Text Enhance can shorten time-consuming writing tasks such as personalized collection letters and statements for financial reports. ![]() The NetSuite team shared lots of examples of how this will work in practice, which is very important given all the hype. Since it was acquired by Oracle, the numbers speak for themselves, but it’s also interesting to see how it’s leveraging Oracle technologies.Īt SuiteWorld, we learned how NetSuite is leveraging the new Oracle Cloud Infrastructure (OCI) Generative AI Service to embed generative AI services into its suite.įor example, the new NetSuite Text Enhance feature was implemented across finance, accounting, human resources, supply chain and operations, sales and marketing, and customer support functions to help NetSuite customers automate content creation and ultimately increase productivity. Believe me, they all do not work properly, especially in software. NetSuite is an example of an acquisition that went very well. Generative AI-powered capabilities across the entire suite Difference.Įvan Goldberg, Founder and Executive Vice President, Oracle NetSuite My goal, as always, is to sort through all the noise that accompanies big events and highlight the key announcements and insights that make an event. I caught up with Evan Goldberg and the NetSuite team ahead of their biggest event of the year, SuiteWorld 2023. One option is Oracle NetSuite, a cloud-based software suite targeted at small to medium-sized businesses. To make matters worse, Generative AI has moved from promise to reality this year, but that reality is only possible if you have your arms around all your data, which is very difficult at the best of times and It’s even harder if you have to trust a lot of different systems. If you’re still managing your business on a patchwork of different systems, it’s probably slowing you down and driving you crazy. ![]()
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