The cloud is getting smarter: Oracle's all in for AI
About a year after Oracle finalized its $9.3 billion acquisition of NetSuite, NetSuite on Wednesday is announcing a series of new product features and business developments that showcase how Oracle is helping it expand its footprint and accelerate growth.
"It's business as usual with Netsuite as a global business unit of Oracle," Paul Farrell, NetSuite's SVP of Product Marketing, said to ZDNet. "We continue to invest in and grow in the markets we've always been successful in, but we're going to be doing more... more industries, more products, more success."
One clear example of Oracle's impact on the company is the new data center that NetSuite is opening in the Chicago area. Based on Oracle infrastructure, it's up and running with live customers after just 18 weeks. NetSuite has another five data centers that will go live across Europe and Asia in the coming months.
"Oracle is allowing us to expand far quicker than we could've done as a separate business," Farrell said. "It's giving us resources we didn't have in order to add new localizations for countries and internationalize the product."
And as Oracle assists NetSuite with infrastructure and personnel support across the globe, Farrell said NetSuite can focus its existing resources on "building out industries and adding new industries to our portfolio."
Oracle's influence is also seen in NetSuite's product announcements, such as the release of the Oracle NetSuite Planning and Budgeting Cloud Service (PBCS). Taking Oracle capabilities and plugging it into the NetSuite application, the new product gives NetSuite customers sophisticated financial planning and budgeting capabilities across lines of businesses.
In other product news, NetSuite is making SuitePeople, its unified cloud core HR offering, generally available.
The company is also rolling out several new product enhancements for both services companies and product companies. Services companies will see new profitability reporting features, as well as new change order management features that promise to improve both the accuracy and service delivery to the customer. NetSuite is also introducing a new UI for weekly timesheets, as well as improved time off management.
Product companies, meanwhile -- such as manufacturers, distributors, and retailers -- will see an enhanced Global Bill of Materials (BOM) functionality. This will allow users to manage BOMs separately from the items they are associated with, reducing the overhead on engineering teams. NetSuite is also providing product companies with a new quality management system and the new Inbound Shipment Management module.
NetSuite also announced it's launching three new SuiteSuccess editions, including one for nonprofits and two for services organizations.