There are many reasons people want to attend SuiteWorld each year. It’s an opportunity to network with other NetSuite professionals from across the globe. It’s a place to discover all the latest and greatest NetSuite developments. It’s in Las Vegas!
There was one draw that captured all attendees of SuiteWorld 2023 however – Artificial Intelligence.
NetSuite had been lagging in the AI space behind some of it’s competitors. Other companies had jumped on the hype train and introduced AI products early on but NetSuite was dragging its heels.
That was until NetSuite Text Enhance.
On day 2 of SuiteWorld 2023, NetSuite announced a new generative AI feature that will produce copy in a number of different locations within your system.
Impressive and game changing for NetSuite? Or just a bit of fun? Let’s take a deeper look at what’s on offer.
What is NetSuite Text Enhance?
NetSuite Text Enhance is a generative AI writing tool. It is built on a language model produced by Cohere, NetSuite’s ‘AI partner’.
Text Enhance is said to be strategically tailored to boost operational productivity and effectiveness across entire organizations. The feature works seamlessly across the NetSuite platform, enhancing the creative process with generated content drawn from meaningful, contextually-rich data sourced from the NetSuite environment.
Data from across multiple verticals can be pulled together to produce detailed and informed output that would otherwise require time consuming research and reporting.
Although the offering will, I’m sure, expand in time, the following outlines some examples of NetSuite Text Enhance use cases across different workstreams.
Text Enhance for Finance and Accounting
Generate more bespoke and personalized dunning emails, collection notices and payment notifications. Both AP and AR teams communicate daily with suppliers and customers giving a host of opportunity to benefit from NetSuite Text Enhance.
Use the feature to add narratives to financial reports. A task that is carried out manually anyway so genuinely time saving rather than a nice-to-have.
Text Enhance for Sales and Marketing
Sales and Marketing teams are probably set to benefit most from this feature due to the volume of text they produce on a daily basis.
Sales team members can generate quick and engaging emails to leads and prospects. They can get assistance with quotes and proposals and use it to simply improve their own writing.
Marketing can use Text Enhance to create interesting and exciting campaigns and personalized, targeted outreach.
Text Enhance for Supply Chain
Generate customer updates on delivery schedules and in turn chase suppliers and shipping companies with personalized text.
Use Text Enhance for memos and narrative on purchase and transfer orders.
Text Enhance for Customer Support
I believe there is a real opportunity for support functions to streamline their processes and provide customers with quicker responses using NetSuite Text Enhance.
Use the tool to generate case updates and assignment notices. NetSuite have even suggested using it to respond to customer reviews or complaints.
Is Text Enhance Just a GPT Wrapper?
I must admit, when I initially heard of this feature I was suspicious. It felt like a very underwhelming product to break the AI silence with. There are so many other opportunities out there for NetSuite to get on the pitch with and text generation was probably the least exciting.
A GPT Wrapper is a term used to describe a product that is mostly an LLM (Large Language Model) in fancy clothes. Sometimes the clothes aren’t even that fancy.
There a million GPT Wrappers on the market and more coming every day so it was very disappointing to see NetSuite’s big reveal was simply a new wrapper.
However, having looked more in to this, I think my initial review was unfair. NetSuite Text Enhance is more than just clever language. It is using a combination of live ERP, CRM and Supply Chain data to provide bespoke context.
The output from Text Enhance in your system will be specific to your business and that’s what sets it apart from anything you will get from any publicly available LLM platform such as ChatGPT or Bard.
Once this offering is further developed and refined, customers will be able to integrate it in to their processes to improve the quality of communications, the efficiency and speed to response and much more.
The Future of NetSuite and AI
NetSuite Text Enhance was not the only AI product showcased at SuiteWorld this year. although it did seem to be the most developed.
Other projects included new AI-powered Bill Capture features to collect information based on historical captures. There were new predictive algorithms for Planning and Budgeting to streamline and automate budget and forecast analysis. Even the relatively new NetSuite Analytics Warehouse received an AI-powered upgrade to help identify patterns in data and provide valuable insights.
Overall, my initial disappointment in generated text for customer emails has grown to a moderate level of excitement.
NetSuite do appear to be working hard in the background and I think that by this time next year we should be seeing some really useful innovation for the platform.
Let me know your own thoughts below.