NetSuite Adds AI and Introduces Anything-as-a-Service ERP

Overview

• Event: SuiteConnect 2025
• Location: New York City
• Speaker: Evan Goldberg, Founder and EVP of Oracle NetSuite
• Publication Date: February 7, 2025

New AI Capabilities in NetSuite ERP

• Objective: Enhance efficiency and productivity in task performance.
• Philosophy: Integrate AI fully within the suite rather than as an add-on.
• New AI Features:
  • NetSuite CPQ AI Assistant: Facilitates product quotes via natural language.
  • NetSuite Expert for SuiteAnswers: Offers natural language support.
  • Text Enhance: Improves data entry accuracy and speed.
  • Prompt Management API: Simplifies AI integration and customization.

Introduction of Anything-as-a-Service (XaaS) Edition

• Target Audience: Small to midsize businesses (SMBs) with hybrid business models.
• Purpose: Support businesses that market and sell both products and services.
• Unique Selling Point: Tailored for modern entrepreneurs not aligned with traditional business models (e.g., wholesalers, retailers).
• Availability: Included in the latest NetSuite ERP update at no additional cost.

NetSuite Cloud ERP

• Core Applications: ERP, finance, accounting, CRM, human capital management, etc.
• Updates: Biannual updates focusing on AI features.

Anticipated AI Value

• Example Case: Soluna, a data center company utilizing NetSuite ERP.
  • Implemented NetSuite in January 2024.
  • Aims to leverage AI for contract compliance and financial processes.
  • Seeking AI utility to streamline compliance and debt management.

Industry Reaction

• Brian Sommer's View: AI features are similar to competitors, but XaaS Edition is valuable for SMBs needing integrated hybrid solutions.
• Competitive Edge: NetSuite's integrated system approach.

Next Steps and Further Reading

• Goldberg: Practical value key for AI in NetSuite ERP
• Infor offers process mining, automation in CloudSuite ERP

Images

• Evan Goldberg at SuiteConnect 2025
• Jim O'Donnell