Here in London at SuiteConnect yesterday, Oracle NetSuite’s top brass laid out their vision for having your business tech running like a well-oiled machine – and it all boils down to getting everything correctly connected within your organisation, now powered by a wave of smart AI.
Speaking at the company’s SuiteConnect London event, Evan Goldberg emphasised the significance of ensuring that all of your data communicates with one another, noting that the most successful firms do not work in silos. Instead, they are united, with all of their data and functions working together seamlessly.
Goldberg believes that by 2025, company executives will be under pressure to get the most out of their technology – and they are not alone. He is a fervent believer that the best-run businesses are those in which all parts communicate fluidly with one another.
Enter “Suiteness” and the Power of AI: The Keys to Unlock Efficiency.
NetSuite’s platform provides an excellent range of accounting and finance tools, and Goldberg developed the concept of “Suiteness” – where all of the parts of your NetSuite configuration function seamlessly together. This means that all of your data, processes, and teams are in sync within a single integrated system.
The major news at SuiteConnect was the announcement of a slew of clever AI-powered improvements, as well as a brand-new “Anything-as-a-Service” offering. This represents a genuine push to assist UK businesses, particularly finance executives, in simplifying their operations, cutting through complexity, and unlocking new revenue streams.
According to Evan Goldberg, Oracle NetSuite’s creator and EVP, “Organisations in the UK are eager on utilising AI to enhance productivity and accomplish more with less, but knowing where to start may be a real pain. We help our customers get over that initial hurdle by embedding our AI directly into NetSuite rather than simply bolting it on and giving it at no extra cost.”
This collaborative method, now enhanced by AI, not only provides sharper insights through pooled data analysis, but it also results in a significant increase in productivity. Workflows become smoother and more integrated across departments, allowing your teams to truly cooperate because they all work in the same environment. Goldberg characterised it as follows: “(Suiteness) means you can achieve more in every department right across your business.”
He also stressed that finance is the foundation of all business areas, which is why NetSuite was created as a comprehensive “operating system” for your entire firm, rather than just a system for accounts, operations, HR, or any other single function.
“Our job is to keep innovating, to help you get even more out of the suite in every part of your organisation,” Goldberg told investors. He went on to say: “Our partnership with Oracle means we can deliver powerful, enterprise-level solutions – the kind previously reserved for only the biggest players – at a scale and price that makes sense for your business.”
Key AI-powered updates Designed for UK finance leaders:
- NetSuite Connector for Outlook: This innovative piece of software seamlessly syncs your Outlook with NetSuite, which means fewer double-entry for sales and finance teams – a huge time saver.
- NetSuite Bill Capture: Using AI, this tool extracts critical information from invoices and automatically fills in the appropriate fields, seeking to eliminate all tiresome human accounts payable work.
- Customer 360 Dashboard: This dashboard consolidates all of your customer data from CRM, commerce, and finance systems into one spot, making it extremely useful for forecasting and calculating credit risk.
- Electronic Invoicing Module: This module, which is especially essential as e-invoicing becomes more popular, ensures that your data is properly formatted for smoother uploads with fewer errors.
What Does This Mean for UK Chief Financial Officers (CFOs)?
What’s the essential takeaway from all this? NetSuite’s vision, now augmented by these AI advancements, is more than simply fancy technology; it demonstrates a genuine knowledge of what finance professionals in the UK require right now. That’s automation that minimises personnel, provides clear visibility across complex income streams, and incorporates compliance into their daily work.
Oracle NetSuite, which has a large global customer base and a rising presence in the UK, believes that AI, when utilised responsibly and strategically inside a connected platform, may provide CFOs with a significant advantage in modernising finance while keeping a careful eye on risk.
As different finance teams implement AI at varying rates, SuiteConnect made one thing clear: these new functionalities are more than simply bells and whistles. They’re intended to assist UK CFOs in making their operations more effective and supporting business growth in an increasingly complex world.
In essence, Oracle NetSuite’s aim is simple: connect your business to a unified and AI-powered platform to succeed in today’s dynamic environment.
