HomeMarket NewsOracle's NetSuite Unveils Next-Gen AI Features for Finance Software and Acquires Next...

Oracle’s NetSuite Unveils Next-Gen AI Features for Finance Software and Acquires Next Technik

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Oracle Reports Quarterly Earnings

Justin Sullivan

At its annual conference in Las Vegas, Oracle’s NetSuite (NYSE:ORCL) made two major announcements today. First, the company unveiled its next-generation artificial intelligence (AI) capabilities, specifically designed for finance software users. These generative AI features will automate various day-to-day financial tasks, such as writing collection letters, streamlining operations for financial professionals.

According to Evan Goldberg, NetSuite co-founder and Oracle executive vice president, these AI features eliminate the need for manual thinking and decision-making, as the system is already designed to recommend the most relevant actions based on the user’s context. This advancement aims to make the lives of financial professionals easier, allowing them to focus on higher-value strategic initiatives.

In addition to the AI update, NetSuite also announced its acquisition of Next Technik, a renowned field service management solutions provider. This strategic move enables NetSuite customers to benefit from enhanced field service capabilities, including efficient scheduling and dispatching, inventory management, and asset tracking.

NetSuite’s vision is to address common challenges faced by businesses in the field service industry by providing an end-to-end field management solution. The new offering automates key processes, provides real-time insights, and ultimately helps customers reduce operational costs, improve customer satisfaction, and boost their overall financial performance.

Sharing his excitement about the acquisition, Evan Goldberg stated, β€œBy automating key field service processes and providing real-time insights, it will help our customers reduce operational costs, increase satisfaction and loyalty, and ultimately improve both the top and bottom lines.”

These announcements at the conference highlight NetSuite’s commitment to driving innovation and empowering businesses to thrive in the ever-evolving financial landscape. The market responded positively to the news, with Oracle (ORCL) shares experiencing a 0.8% rise in mid-day trading on Tuesday.

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