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NetSuite's AI and XaaS Innovations

May 14, 2025

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

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