
Summary:- In this blog post, businesses will discover how businesses can use NetSuite AI to grow their business. They can use data and automation to grow rapidly through increased efficiency & productivity.
NetSuite AI has become a game-changer for businesses seeking to stay ahead of the curve. In recent years, companies have turned to ERP systems for improved efficiency, but outdated solutions often hinder progress across various industries.
As a result, many businesses are replacing their old ERP systems with NetSuite AI, a cloud-based ERP solution, to drive growth and innovation. Over the past few years, businesses have transformed how they use AI to improve their profit margins, especially with NetSuite ERP software.
In fact, 83% of companies prioritize the use of AI for their business (Exploding Topics) to get automation. Therefore, SMBs and large businesses are constantly becoming competitive and growing rapidly with increased revenue & productivity.
Many CIOs, CFOs, and stakeholders can use AI in NetSuite to redefine business processes via automation and grow with robust technological advancements.
Before exploring anything further, let’s understand What is AI and its use in ORACLE NetSuite ERP.
What is Artificial Intelligence (AI) and how does NetSuite AI transform business operations?
Artificial Intelligence (AI) is a technological advancement with the capability to complete repetitive tasks that require human intelligence. It has a machine learning solution (so that it can learn through experience). Moreover, the LLMs (also a form of AI) are useful to solve problems and learn from experience.
NetSuite AI and its Use by Business
Business leaders and stakeholders can leverage NetSuite, an AI-powered cloud ERP, to make informed decisions and drive more productivity. They can analyze data in real-time available at a unified source. AI in NetSuite ERP supports daily workflows and augments them as well.
Let’s understand it in a better way through an example.
An eCommerce business is managing data of all its customers located at multiple locations in the world. At the same time, they are also managing the transaction data of millions of customers through legacy ERP software.
Considering the inefficiencies of the software, it migrated to NetSuite Cloud-based ERP and leveraged its AI capabilities. Now, the eCommerce business can manage its data efficiently and experience growth in data and customer relationship management which has led to a rise in operating profits.
Benefits of ORACLE NetSuite AI for Businesses
Multiple businesses use Artificial Intelligence in NetSuite to drive more profitability and fuel innovation in the products/services they offer. The primary role of Artificial Intelligence in business is to boost productivity by making a business streamline operations through automation. Here are 4 core benefits of using AI ORACLE NetSuite.
1. Use AI in NetSuite to reduce the time which accounting team takes to enter invoice data. For this, they use AI-powered object detection and Optical Character Recognition (OCR) technology.
Here’s an example of it.
A business from the eCommerce industry can use AI-powered NetSuite ERP software so that its employees can easily drag and drop emails (containing invoices). This ERP has NetSuite Bill Capture that comes with intelligent data recognition and learnings from previous vendors for enhanced accuracy in NetSuite.
2. One can leverage various possibilities of artificial intelligence in ORACLE NetSuite, one such possibility opening growth doors for businesses is text automation. With built-in generative AI, NetSuite ERP allows a business’s employees to automate the creation of content (text).
Here’s an example of it.
A business from the professional services industry can use NetSuite text enhancement, a part of NetSuite ERP, to generate textual content. The HR, customer service, and marketing team can use it to create product descriptions, write job descriptions, and provide quick resolution of customers’ queries through personalized text.
3. Close financial books faster by automating routine tasks like journal entries and intercompany transactions. Do it by using AI in NetSuite which drastically reduces their reliance on recording financial data using spreadsheets as they can do it in a unified place.
Here’s an example of it.
A business from the finance industry can leverage NetSuite’s AI capabilities and embrace the automation of data entry tasks. It results in the enhancement of its productivity and increases the capability of a business.
4. Fetch information directly from the workbooks and generate unique reports/charts using NetSuite SuiteAnalytics and generative AI. It provides information required for decision-making when required (from summary to transaction-level detail).
Here’s an example of it.
A wholesale business can close financial books faster and make decisions to grow through NetSuite’s AI-powered reporting and dashboard solution—SuiteAnalytics. This solution enables the financial team to access NetSuite’s data based on assigned roles.
Features of NetSuite AI for Various Businesses
Businesses use NetSuite cloud ERP software to enhance their operations and stand apart in this digital age. They leverage its impactful features to make a difference. Let’s discover how cloud-based AI helps businesses to stay ahead of the curve through AI.
How NetsuiteExpert can help your business to get NetSuite AI?
An effective NetSuite development service by inoday helps a business modernize its process using AI. This process leads to the growth of efficiency and productivity of a business. All businesses (across any industry) desire to use NetSuite AI-powered service but lack adequate technical proficiency to do so.
So they need to hire a professional ORACLE NetSuite solutions provider like NetsuiteExpert. We help businesses positively impact the market by enabling businesses to get AI-powered NetSuite cloud ERP. Here are a few reasons why businesses choose us to implement NetSuite’s ERP.
NetSuite has access to the leading AI technology and cloud infrastructure technology. We collaborate with ORACLE’s AI experts to enable its customers to leverage AI. NetsuiteExpert, a leading NetSuite solutions provider, allows businesses to use NetSuite AI at a cost-effective price and adopt automation.
Conclusion
Artificial Intelligence (AI) in NetSuite transforms the way new-age businesses operate by allowing them to get automation. With AI, businesses can enhance their efficiency and drive innovation. Businesses can make the most out of this technology by understanding the correct method to use it. Whether you are looking to get automation or gain insights from available data, you can do it with NetSuite AI to streamline and grow your business operations.
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