What We Learned at SuiteWorld
Ekwani Consulting recently attended SuiteWorld 2024 in Las Vegas, and we wanted to share some key takeaways from the event.
NetSuite founder and Excecutive Vice President Evan Goldberg revealed a redesigned user experience and new AI features to help businesses navigate difficult productions, rapid competition, and frequent disruptions. Goldberg emphasized the importance of adaptability, stating, “Growth is always on.” And with this unveiling, that much is evident!
Enhance User Experience and AI Integration
Evan Goldberg announced that the 40,000+ businesses using NetSuite will experience a new user connection built on Oracle’s “Redwood” UX framework, created to make enterprise software feel as instinctive as consumer applications.
Oracle’s Senior Vice President of user experience design, Hillel Cooperman, stated that the main goal is to simplify tasks by eliminating friction points and leveraging generative AI to enhance user interactions.
One of the cool AI features is “Ask Oracle,” a search engine that helps users find data and perform tasks. AI will also provide new capabilities within NetSuite, such as the upcoming AI assistant for SuiteAnalytics, which turns everyday questions into actionable reports.
AI-Driven Financial Management Tools
Goldberg describes AI as a “force multiplier” for consumer growth, emphasizing NetSuite’s Financial Exception Management, an AI-driven tool that instantly detects unusual transactions and suggests possible solutions.
This AI feature aims to run financial oversight, allowing businesses to address potential issues quickly.
The Narrative Reporting tool within NetSuite EPM will use generative AI to compose detailed financial reports, while NetSuite Planning and Budgeting will turn predictions into readable explanations.
Expanding Business Ecosystems
New products that expand Netsuite’s integration with other companies, such as Suite Procurement, were also introduced by Goldberg at the event. This product helps simplify accidental purchasing by connecting vendor purchases directly to NetSuite. A new connector for Salesforce will align data between the two platforms, enhancing and improving the lead-to-cash process.
NetSuite’s Generative AI for SuiteScript API allows developers to use large language representations to automate and improve custom processes.
Showcasing Success with AI Tools
Vytalize Health, recently announced as America’s fastest-growing private company by Inc. magazine, is one astounding example of NetSuite’s impact. By automating its accounting processes with NetSuite, Vytalize Health was able to streamline the management of 47 bank accounts, enhancing daily reconciliations and reducing manual work. NetSuite Bill Capture feature also automates payment processing, coding bills, and directing them for approval – freeing staff to focus on more important tasks.
Another success story includes PRx Performance, a home gym equipment company that saw rapid growth after appearing on ABC’s Shark Tank TV show and adopted NetSuite Analytics Warehouse to combine data from various platforms. The more focused dashboards allowed the entire company to work from the same analysis, enhancing decision-making for the business.
Special Offers for SuiteWorld Attendees
Goldberg wrapped up the event by announcing special offers for SuiteWorld attendees, including massive discounts on NetSuite Analytics Warehouse, Field Service Management, and EPM modules. Consumers can also save money on Advance Customer Support membership subscriptions and Learning Cloud Supprty through these limited-time offers.
Growing Is Always On
NetSuite’s ongoing investment in AI and user experience upgrades shows its commitment to supporting business expansion and operation efficiency in a constantly evolving industry — and here at Ekwani Consulting, we’re excited to match that commitment.
As NetSuite alliance partners, consider us your go-to experts on all the ways NetSuite continues to expand and the best ways to adapt it to ensure the success of your business. To learn more about how we can mold NetSuite to fit your needs, reach out today!
