SuiteWorld 2024: The Future of Business with NetSuite and AI Innovations
SuiteWorld 2024 delivered a plethora of game-changing announcements designed to revolutionize how businesses operate on the NetSuite platform. The overarching theme was clear: artificial intelligence (AI) is no longer a futuristic buzzword—it’s a core element shaping the future of business processes. With seamless integrations and advanced AI features, NetSuite is setting the stage for businesses to enhance efficiency, automate routine tasks, and drive growth.
EGS Empower Growth Solutions, this blog explores the top updates from SuiteWorld 2024 and their potential impact on your business.
NetSuite’s Vision for the Future Kicking off SuiteWorld 2024, Evan Goldberg’s keynote revealed exciting new innovations focused on advanced AI capabilities and integrations to drive business growth. These announcements are paving the way for future business management solutions that enhance collaboration and productivity across various platforms. EGS Empower Growth Solutions is ready to help your business implement these innovations and future-proof operations.
Introducing Redwood UI: A New Era of User Experience
NetSuite introduced the new Redwood UI, an intuitive, AI-driven interface with a refreshed color palette, typography, and layout. Powered by natural language search through “Ask Oracle,” this update allows users to interact with NetSuite in a smarter, more personalized way. For clients of EGS Empower Growth Solutions, the improved UI means easier navigation and a more efficient user experience, allowing teams to focus on critical tasks.
Customer 360: Comprehensive Real-Time Insights The Customer 360 dashboard offers a full, real-time view of customer interactions, from accounts receivable to sales orders. The integration of AI-powered recommendations allows businesses to gain deeper insights into customer behavior and make quick, informed decisions. With the support of EGS Empower Growth Solutions, this feature can streamline your customer service strategy, providing a more personalized experience for each client.
AI-Driven Financial Exception Management
NetSuite’s new Financial Exception Management feature leverages AI to spot inconsistencies in sales orders, invoices, and bills. It helps finance teams reduce manual error-checking by identifying miskeyed entries and duplicate transactions. For EGS Empower Growth Solutions clients, this tool provides an extra layer of security, enhancing data accuracy and improving overall profitability.
SuiteProcurement: Amazon Business Integration NetSuite introduced SuiteProcurement, which integrates directly with Amazon Business and Staples, streamlining procurement processes by automating tasks like purchase requests and vendor bill approvals. This integration, supported by Oracle Business Network, eliminates manual data entry and enhances operational efficiency. Clients of EGS Empower Growth Solutions in industries with complex procurement needs will benefit from these automation tools, simplifying their purchasing workflows.
Generative AI for SuiteScript API
SuiteWorld 2024 also unveiled generative AI capabilities embedded within SuiteScript APIs. This powerful new feature allows developers to streamline the creation of intelligent extensions, maximizing value and operational efficiency. For EGS Empower Growth Solutions clients, these capabilities enable the development of tailored, AI-powered applications that drive business innovation.
Cash 360: Smarter Cash Forecasting NetSuite’s Cash 360 dashboard has been upgraded to incorporate installment payments into cash flow forecasts, offering businesses more precise financial planning tools. For companies with complex payment cycles, EGS Empower Growth Solutions can help implement these updates to prevent cash flow surprises and improve financial planning accuracy.
Salesforce Connector: Data Integration Across Platforms
NetSuite has introduced a Salesforce-NetSuite connector, which automates the exchange of customer, inventory, and sales data across platforms. This ensures that companies can scale effectively without the burden of redundant data entry. With EGS Empower Growth Solutions, your business can seamlessly integrate systems, enhancing operational efficiency and data accuracy.
SuiteBilling and CPQ: AI-Powered Subscription Management NetSuite’s SuiteBilling and CPQ now work together to provide AI-driven solutions for businesses offering subscription services. Sales teams can use the AI assistant to configure deals based on customer needs. For EGS Empower Growth Solutions clients, especially in SaaS or recurring revenue industries, this feature enhances subscription flexibility and ensures optimized deal configurations.
Ask Oracle: AI-Powered Search Assistant NetSuite’s “Ask Oracle” AI search assistant allows users to ask natural language questions and receive instant answers. This feature simplifies data retrieval and query processes, enabling businesses to make faster decisions. EGS Empower Growth Solutions can help clients leverage this feature for quicker insights and more efficient operations.
SuiteProjects Pro: AI Tools for Project Managers SuiteProjects Pro (formerly OpenAir) now comes with AI-powered dashboards that offer insights into project health and suggest resource allocations. For project-heavy industries, EGS Empower Growth Solutions can implement these tools to help you achieve more successful project outcomes and improve resource management.
NetSuite Enterprise Performance Management (EPM): AI Enhancements NetSuite’s EPM has been updated with AI-powered narrative reporting, helping finance teams generate insights, forecasts, and reports more quickly. Predictive forecasting models allow teams to act with confidence, offering AI-generated explanations for business trends. For EGS Empower Growth Solutions clients, this means greater accuracy in financial planning and a smarter, more strategic approach to business growth.
Generative AI: The Future of Business Generative AI goes beyond traditional AI by creating new content, solutions, and models based on analyzed data. At SuiteWorld 2024, NetSuite outlined its plan to incorporate generative AI capabilities into areas like financial forecasting, marketing content creation, and supply chain optimization. These innovations have the potential to revolutionize business processes, and EGS Empower Growth Solutions is positioned to help businesses harness the power of this technology to stay ahead of the competition.
Compliance 360 and HIPAA Features NetSuite’s Compliance 360 now includes HIPAA-compliant features, providing much-needed tools for healthcare and life sciences industries. For EGS Empower Growth Solutions clients in healthcare, these features simplify compliance management, ensuring adherence to regulatory standards.
The Future of AI-Driven Business with NetSuite NetSuite’s investment in AI and generative AI is shaping the future of business operations. By removing manual tasks, automating workflows, and generating actionable insights, businesses can scale smarter and more efficiently. EGS Empower Growth Solutions is here to help companies unlock the full potential of these AI-driven tools, driving growth and transformation across industries.
As these features roll out, EGS Empower Growth Solutions is committed to helping businesses stay ahead of the curve, leveraging AI and generative AI to fuel their success in an increasingly competitive marketplace.
Why Choose EGS Empower Growth Solutions? With decades of business process expertise and extensive knowledge of NetSuite, EGS Empower Growth Solutions is the trusted partner for businesses looking to implement, customize, and optimize NetSuite solutions. Our consultants provide a single source of expertise to refine your operations, ensuring that your business is future proof of success.
