NetSuite Introduces New Enterprise Performance Management AI Capabilities to Help Finance Teams Accelerate Processes

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Sep 09, 2024, 18:05 ET

Latest AI innovations help customers increase productivity, expand insights, enhance decision-making, and capitalize on growth opportunities

LAS VEGAS, Sept. 9, 2024 /PRNewswire/ -- SuiteWorld -- Oracle NetSuite today announced new AI-powered updates to NetSuite Enterprise Performance Management (EPM). The latest updates will help finance teams streamline reporting, expand insights, improve decision-making, and steer their business toward new growth opportunities.

"Finance teams often spend a significant amount of time gathering data and creating narratives to explain financial results, justify important decisions, and forecast future growth. This can be a labor-intensive process that often diverts time away from more strategic analysis and slows down decision-making," said Evan Goldberg, founder and executive vice president, Oracle NetSuite. "To address this challenge, the latest updates to NetSuite EPM help finance teams leverage powerful AI innovations to help increase efficiency, expand insights, and enable more time to be spent on value-added activities."

NetSuite EPM is built on Oracle Fusion Cloud Enterprise Performance Management and is integrated into NetSuite, helping organizations improve the efficiency and accuracy of financial processes and gain the business insights they need to drive the business forward. The latest AI updates to NetSuite EPM include:

Generative AI for Narrative Reporting: Helps finance teams increase productivity, expand insights, and accelerate decision-making by efficiently and accurately creating AI-powered narratives, explanations, and visuals from financial and transactional data.
AI-powered narratives in NetSuite Planning and Budgeting: Help finance teams accelerate reporting and quickly capitalize on business growth opportunities by enabling them to identify patterns, trends, and anomalies and deliver detailed AI-generated commentary and narratives with the Intelligent Performance Management (IPM) Insights feature.
Predictive forecast explanations in NetSuite Planning and Budgeting: Help finance teams increase forecast accuracy and confidence, improve business understanding, and rapidly take action by enabling them to quickly and easily understand the key factors behind AI-generated forecasts.
AI-driven digital assistant for NetSuite EPM: Helps finance teams increase productivity and accomplish a variety of tasks using natural language conversations via an intuitive AI-driven interface that enhances the user experience.

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About Oracle NetSuite
For more than 25 years, Oracle NetSuite has helped organizations grow, scale, and adapt to change. NetSuite provides an integrated system that includes financials / Enterprise Resource Planning (ERP), inventory management, HR, professional services automation and omnichannel commerce, used by more than 40,000 customers in 219 countries and dependent territories.

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SOURCE Oracle NetSuite