Oracle NetSuite has introduced AI-powered pricing features to automate business operations and improve system integrations. The latest developments include AI-driven automation, procurement and billing upgrades, and expanded third-party connectivity. “With new AI-powered adviser and assistant features and a broad range of other updates to help businesses of all sizes, we continue to enable our customers to gain more value from the suite,” said Oracle NetSuite founder and executive vice president Evan Goldberg.
As part of its cloud strategy, NetSuite is migrating to Oracle Autonomous Database on Oracle Cloud Infrastructure (OCI). The transition is intended to provide customers with enhanced security, reliability, and performance through a fully managed database system with integrated AI capabilities. Oracle’s approach to AI development focuses on embedding targeted automation features within its enterprise software, rather than creating general-purpose AI assistants.
AI enhancements for business processes
New AI features in NetSuite are designed to assist with data entry, centralised AI model management, product configuration, and issue resolution. The additions include NetSuite Text Enhance for custom text fields, a Prompt Management API, NetSuite CPQ AI Assistant, and NetSuite Expert for SuiteAnswers. These features aim to simplify administrative tasks and provide AI-based support for various business functions. A new quoting feature has been introduced, allowing sales professionals to generate price estimates through chatbot-assisted conversations. The tool is designed to streamline the process of calculating costs for complex purchases with multiple options, reducing the time required for manual calculations.
Enhancements have been made to NetSuite’s procurement tools, incorporating real-time supplier collaboration through the Oracle Business Network. With NetSuite SuiteProcurement now embedded within Advanced Procurement, buyers can access supplier catalogues, select items, and generate purchase orders within NetSuite, reducing manual processing requirements.
NetSuite SuiteBilling has also been updated to offer more flexibility in subscription invoicing and allocation. New features include prepay functionality for businesses using consumption-based pricing models and expanded options for invoicing and revenue allocation before a service is activated. In addition, NetSuite has integrated with the Digital Business Network Alliance (DBNA) to automate electronic invoice exchanges in the US. The integration is expected to simplify invoice processing and settlement, improve cash flow management, and enhance transaction accuracy between businesses.
Oracle has launched NetSuite SuiteSuccess Anything-as-a-Service (XaaS) Edition to support organisations managing a combination of product and service offerings. The platform provides a consolidated business system for financial management, inventory tracking, project oversight, and revenue recognition. It aims to assist businesses in standardising processes across multiple revenue streams. NetSuite has also introduced a connector for Microsoft Outlook, allowing automatic data synchronisation between Outlook Mail, Calendar, and NetSuite. The integration is designed to reduce manual data entry and enable real-time updates across sales and customer management activities.
Competitors adopt AI to enhance ERP and CRM capabilities
Oracle NetSuite’s new AI features, including automated price quoting and data entry assistance, reflect a growing trend of integrating AI into enterprise resource planning (ERP) and customer relationship management (CRM) platforms to streamline operations and boost efficiency. Competitors like SAP S/4HANA Cloud leverage AI for predictive analytics, financial forecasting, and supply chain automation, reducing manual workloads. Salesforce Sales Cloud employs its Einstein platform for lead scoring, automated data entry, and personalised recommendations to enhance sales productivity. Microsoft Dynamics 365 offers AI-driven sales forecasting, customer sentiment analysis, and inventory optimisation, supporting strategic decision-making.
Sage Intacct, meanwhile, focuses on financial automation, streamlining expense management, accounts payable, and intelligent general ledger functionalities. Additionally, Workday integrates AI for workforce planning and talent analytics, while Infor CloudSuite uses AI for industry-specific insights, optimising manufacturing, healthcare, and supply chain processes.
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