The concept behind NetSuite was that rapidly expanding businesses will gain from having a single system that links data and operations across departments to run their whole operation. After twenty-five years, this big idea can now be summed up in one word: "Suiteness." The corporation announced its newest goods in a keynote speech on October 18, 2023, at SuiteWorld 2023.
The current surge in artificial intelligence (AI) innovation only serves to increase Suiteness's significance and effectiveness. Businesses can use AI on their own data from all areas of their operations with the aid of the NetSuite technology.
NetSuite contains data for every area of your company, not simply one department. NetSuite is aware of the true value that data holds for your company in the connections throughout your enterprise. Because NetSuite has access to this data and insight into your entire company, it can use AI more effectively.
Boosting Customer Experience with AI Innovation in NetSuite
NetSuite's AI-driven capabilities revolutionize customer experience by:
Personalizing interactions: AI-powered insights enable tailored engagements.
Enhancing support: Automated chatbots and self-service portals streamline issue resolution.
Predictive analytics: AI-driven forecasting optimizes inventory and fulfillment.
Intelligent automation: Streamlined processes reduce manual errors and increase efficiency.
By embracing AI innovation in NetSuite, businesses can increase customer satisfaction,improve loyalty and retention, drive revenue growth & gain a competitive edge.
Simplify your workforce management with NetSuite's mobile-enabled solutions, developed by our expert team:
Automate Payroll: Effortlessly manage salaries, benefits, and taxes with NetSuite's payroll automation
Simplify Scheduling: Easily create, manage, and share schedules with employees through the NetSuite Mobile App
OpenTeQ’s NetSuite Mobile App Development and Services include:
NetSuite Mobile App Development: Customized mobile applications for your unique business needs
NetSuite Mobile App Services: Expert implementation and support for seamless mobile integration
NetSuite Application Development: Comprehensive development services for enhanced functionality
NetSuite Mobile Applications: User-friendly mobile apps for on-the-go access
By leveraging NetSuite's mobile capabilities, you can increase efficiency,reduce errors,enhance employee experience & gain real time insights. Transform your workforce management with our OpenTeQ’s NetSuite mobile solutions and take your business to the next level.
Cash management plays a significant role in NetSuite's financials, which are still at the core of the company—especially considering the current high interest rates and limited financial capital. Although businesses currently have access to tools for managing and projecting cash flow, NetSuite intends to offer suggestions in future editions to help reduce the risk of cash shortages. Group Vice President of Product Management Craig Sullivan, for instance, described how the system can advise selling your receivables through NetSuite or taking advantage of longer payment terms that an existing vendor already provides.
Sullivan stated, "By combining these ideas of experience, intelligence, and Suiteness, NetSuite can help you to achieve that ideal state of spending more time serving the business with timely analysis and insight." This means that you can spend less time validating the figures.
Noteworthy declarations and highlights from NetSuite
Soon, NetSuite intends to release versions with features, roles, and dashboards specifically designed for the restaurant, healthcare, and hospitality sectors. A dashboard with an emphasis on compliance is anticipated for the healthcare version, considering the sensitive nature of patient data.
Within the next year, all NetSuite clients are anticipated to be using Oracle Cloud Infrastructure (OCI), which is now used by 90% of them.
Customers who use NetSuite in conjunction with Oracle Autonomous Database will get even faster and more dependable service. By the end of 2024, according to the current plan, all NetSuite clients will be using it.
NetSuite Prompt Studio will be built to enable administrators to offer instruction and set templates that will help enhance the caliber of responses as NetSuite incorporates more generative AI capabilities.
37,000 NetSuite users store 10 petabytes of data between them, and they perform 1 trillion queries every day.