Oracle NetSuite on Monday introduced new AI agents called SuiteAgents, aimed at helping organizations improve operational efficiency and make more informed decisions across industry-specific business processes.
The announcement was made during SuiteWorld, Oracle NetSuite’s annual conference for the NetSuite community, held in Las Vegas.
Built on NetSuite’s unified data model, the new SuiteAgents help identify issues, recommend next steps, and support execution within established workflows, the Austin, TX-based company says.
“Business leaders manage a lot of moving parts, and the industry signals that matter can easily be missed when teams are focused on day-to-day operations,” Evan Goldberg, founder and executive vice president of Oracle NetSuite, said on Oct. 26. “Our new SuiteAgents put the industry expertise that NetSuite has developed over almost three decades to work. By bringing together industry knowledge, business context, and the right next steps, they will help finance and operations teams respond faster while retaining oversight, judgment, and accountability.”
According to Oracle NetSuite, the goal of the new SuiteAgents is to apply industry-specific best practices to the processes companies rely on while operating within NetSuite’s established governance models. Ask Oracle connects people to the work through a conversational user experience, drawing on industry-specific skills, knowledge, and tools, while SuiteAgents are designed to support ongoing monitoring and multi-step execution.
The new SuiteAgents are intended to support industry-specific processes for:
- Software: Helps teams identify conditions that can affect revenue retention, margin, financial health, and compliance, and determine the appropriate next steps by applying relevant business context and industry best practices across contract orchestration, revenue compliance, billing, and forecasting.
- Product: Helps teams maintain the right level of inventory by evaluating inventory exposure and supply changes and providing guidance on their potential impact on inventory efficiency, supply performance, and margin.
- Services: Helps teams improve project planning and oversight by turning statements of work into editable plans, reviewing staffing capacity, flagging time-entry exceptions, and assessing project health, risks, and financial conditions.
- Healthcare: Helps teams identify supply and financial risks and determine the appropriate operational next steps by bringing together inventory, service-line, reimbursement, and payer-mix information with industry knowledge and process context.
- Construction: Helps teams protect margins and improve cash flow by converting estimates into job budgets, preparing payment applications based on verified progress, approved changes, and retainage terms, and helping to keep job costs, billing, and financial information aligned.
- Nonprofit: Helps teams identify grant-related financial and compliance issues and determine the appropriate operational next steps by bringing together relevant records, industry knowledge, and process context.
SuiteAgents for the software, product, and construction industries are now available in NetSuite Next. The others are planned for a future release, Oracle NetSuite says.
Photo credit: Oracle NetSuite/YouTube
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