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Oracle's NetSuite Adds AI Capabilities to Financial Software, Announces Next Technik Acquisition

Oct 18, 2023 - coinspeaker.com
Business software provider NetSuite is integrating artificial intelligence (AI) features into its finance software to automate tasks such as writing collection letters and tracking delayed deliveries. The new "Text Enhance" features, developed using parent company Oracle's cloud-based systems, will generate emails using data from its systems, such as the amount owed and the lateness of payment. The features are expected to roll out over the next six months, with higher use levels available at an additional cost.

In addition to this, NetSuite is also developing features that will read and analyze financial data to create summaries and reports. The company has also acquired Next Technik, a provider of field service management solutions, to digitize and streamline scheduling and dispatch, automate inventory and customer asset management, and increase visibility into real-time data.

Key takeaways:

  • NetSuite is integrating artificial intelligence (AI) features into its finance software to automate tasks such as writing collection letters and tracking delayed deliveries.
  • The new feature, "Text Enhance", will use data from its systems to generate emails and automate some of the more mundane tasks of the financial department.
  • NetSuite is also working on new features that will read and analyze financial data to create summaries and reports, aiming to boost productivity.
  • NetSuite has acquired Next Technik, a provider of field service management solutions, to digitize and streamline scheduling and dispatch, automate inventory and customer asset management, and increase visibility into real-time data.
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