NetSuite adds generative AI to its entire ERP suite

In addition, the company is adding another feature, dubbed NetSuite Pay, which will help enterprise customers accelerate and simplify the application and onboarding process for new merchant accounts.

“With NetSuite Pay, customers can integrate solutions from payment processing providers with pre-negotiated rates and fees, to improve the simplicity and transparency of payments processing. Versapay is the first partner to support this new solution,” the company said.

To further help enterprises with financial planning and sales, NetSuite is adding a new e-invoicing feature, dubbed NetSuite Electronic Invoicing.

“With the solution, powered by Avalara, customers can connect directly to national and international networks from within NetSuite to increase efficiency, reduce costs, and address compliance with global e-invoicing mandates,” it said.

Both NetSuite Pay and NetSuite Electronic Invoicing are generally available.

New features for CFOs

In addition to the latest updates, the company is adding new features to help ease various tasks of chief financial officers (CFOs).

These features include NetSuite Transaction Line Distribution, which is expected to provide an easy way for enterprises to split a singular transaction across subsidiaries, departments, or other segments.

“With this SuiteApp, CFOs and controllers can establish percentage-based or predetermined amount-based distribution templates and automate journal entry creation to improve the speed and accuracy of transactions and financial reporting,” the company said.

Further, the company is adding another tool, dubbed NetSuite Benchmark 360, that will allow enterprises to analyze key operational and financial metrics and understand how they are performing compared to similar enterprises in their industry and region.

While NetSuite Transaction Line Distribution has been made generally available, the benchmarking app will be made available in the next 12 months.

NetSuite is also adding a new feature, dubbed Field Service Management, to help enterprises improve the efficiency of their end-to-end field service operations, thereby increasing customer satisfaction.

“With Field Service Management by NetSuite, customers can improve field-to-office communications by simplifying scheduling and dispatch, automating inventory and customer asset management, and increasing visibility into real-time data,” the company said, adding that the feature would be made generally available in the next 12 months.

In addition, the company has updated its NetSuite CPQ tool to include a feature that will allow enterprises to offer subscription options to their customers.