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LAS VEGAS - Oracle NetSuite, a division of Oracle Corporation (NYSE: ORCL) - which has seen its stock surge over 76% year-to-date according to InvestingPro data - announced NetSuite Next on Tuesday, a new generation of its cloud ERP platform that embeds conversational AI and automated workflows throughout the system.
The platform incorporates several AI capabilities including natural language search, agentic workflows, and collaborative tools designed to handle repetitive tasks and provide insights from business data, according to a company press release. This innovation comes as Oracle demonstrates strong financial health, with InvestingPro data showing annual revenue reaching $59.02 billion and maintaining an impressive 70% gross profit margin.
"NetSuite Next puts AI to work for businesses by making it a natural extension of the way they already work," said Evan Goldberg, founder and executive vice president of Oracle NetSuite.
Central to the platform is Ask Oracle, a natural language assistant that allows users to search, analyze and take actions across NetSuite using conversational language. The system works with existing customizations and partner applications, providing contextual insights throughout the platform.
The company stated that customers can transition to NetSuite Next "with the press of a button" without disrupting existing customizations. The platform runs on Oracle Cloud Infrastructure and maintains existing security controls and permissions.
Key features include AI Canvas, a collaborative workspace for data analysis; automated narrative summaries that highlight trends and correlations; AI-driven workflows that can automate complex tasks; and document integration capabilities that extract information from various sources.
NetSuite Next will be available to North American customers within the next 12 months, according to the announcement. The company noted that the development timeline and features may change, as the announcement outlines general product direction.
Oracle NetSuite currently serves more than 43,000 customers across 220 countries and territories. With a market capitalization of $783 billion and consistently strong returns, Oracle continues to dominate the enterprise software market. For detailed analysis and additional insights, investors can access Oracle’s comprehensive Pro Research Report, available exclusively on InvestingPro, along with 18 more key ProTips about the company’s performance and valuation metrics.
In other recent news, PetLab Co. has achieved over $200 million in annual revenue, supported by Oracle NetSuite’s enterprise resource planning system. This system, implemented in 2021, has enabled the company to streamline financial processes and manage inventory across the US, Canada, and UK. Meanwhile, Chomps has expanded its reach to more than 30,000 retail locations in the United States, also utilizing Oracle NetSuite’s platform to enhance its operational visibility and financial management.
In another development, BERO, a non-alcoholic beer brand, has adopted Oracle NetSuite to optimize its operations and support international sales efforts in the US and UK. Oracle NetSuite has also launched a new tool, NetSuite Subscription Metrics, aimed at providing finance leaders of SaaS companies with a comprehensive view of financial and operational performance. Additionally, Oracle has unveiled new AI agents within Oracle Fusion Cloud Applications, designed to aid customer experience leaders in improving operations and driving revenue growth. These agents are integrated into marketing, sales, and service processes to automate workflows and enhance customer relationships.
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