NetSuite expands SuiteCloud platform with new AI capabilities

LAS VEGAS - Oracle NetSuite, a division of the $783 billion market cap tech giant Oracle, announced on Tuesday an expansion of its SuiteCloud Platform with new AI capabilities that will allow customers, partners, and developers to integrate AI models, design custom AI agents, and create AI-driven workflows across the NetSuite ecosystem. As a prominent player in the software industry, Oracle has demonstrated strong momentum with revenue reaching $59 billion in the last twelve months. InvestingPro data shows 19 analysts have recently revised their earnings expectations upward for the upcoming period.

The updated platform introduces several new features including an AI Connector Service that enables organizations to select and integrate external AI models while governing their interaction with NetSuite data. The service is built on open standards including the Model Context Protocol.

NetSuite is also developing SuiteAgent frameworks that will allow users to build and deploy AI agents directly on the SuiteCloud Platform, leveraging NetSuite’s AI toolkits and services.

"The new capabilities in SuiteCloud will help our customers and partners transform how AI works for business by giving them the ability to quickly and easily build AI agents, connect external AI assistants, and orchestrate AI processes," said Evan Goldberg, founder and executive vice president of Oracle NetSuite.

Additional features include AI Toolkits with APIs that expose NetSuite’s AI services for document analysis, reasoning, and narrative reporting; AI Assistants to help developers and administrators increase productivity; and AI Studios that allow users to define and manage how AI operates within NetSuite.

For SuiteCloud Developer Network partners, these capabilities create opportunities to embed industry-specific AI directly into their solutions and potentially drive new revenue streams.

Some of the announced capabilities are available immediately, while others will be released as part of NetSuite Next within the next 12 months, according to the company’s press release statement.

Oracle NetSuite, which describes itself as the "#1 AI Cloud ERP," serves more than 43,000 customers across 220 countries and territories. The company’s strong market position is reflected in its impressive 130% stock price surge over the past six months. For detailed analysis and additional insights, including over 30 key financial metrics and exclusive ProTips, visit InvestingPro. According to InvestingPro’s Fair Value analysis, Oracle currently trades above its Fair Value, suggesting investors should carefully evaluate entry points. A comprehensive Pro Research Report is available for Oracle, offering deep-dive analysis and actionable intelligence for smarter investment decisions.

In other recent news, Oracle NetSuite has been at the forefront of several significant developments. Pet wellness brand PetLab Co. has reported reaching over $200 million in annual revenue, attributing its growth to the implementation of Oracle NetSuite’s enterprise resource planning system. This system has enabled PetLab Co. to consolidate financial processes and manage inventory efficiently across its operations in the US, Canada, and UK. Meanwhile, Chomps, a meat snack brand, has expanded its reach to more than 30,000 retail locations in the United States, supported by Oracle NetSuite’s business management suite.

Oracle NetSuite has also launched the NetSuite Next platform, integrating AI capabilities like natural language search and automated workflows to enhance its cloud ERP system. Additionally, the company introduced NetSuite Subscription Metrics, a tool designed for finance leaders at subscription-based businesses to unify financial and operational performance data. Non-alcoholic beer brand BERO has adopted Oracle NetSuite’s suite to optimize operations for international expansion, particularly in the US and UK markets. These developments highlight Oracle NetSuite’s role in supporting diverse companies with their growth and operational efficiency.

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