SuiteWorld 2024, NetSuite’s flagship event, once again brought together thousands of attendees from across the globe to Las Vegas for four days packed with new product announcements and groundbreaking innovations. Whether you’re a current customer or still deciding if NetSuite is the right fit for you, we’re excited to share key highlights that will impact how businesses scale, automate, and thrive with NetSuite.
NetSuite: Powering the World’s Fastest Growing Companies
The message was clear from the keynote delivered by NetSuite founder Evan Goldberg: NetSuite is not just keeping pace with global business growth—it’s propelling it. With over 40,000 customers in 219 countries, the platform is the foundation behind some of the world’s fastest-growing companies. NetSuite’s flexibility and capacity to scale have made it an indispensable tool for managing multi-territory operations, global financials, and seamless cross-functional workflows.
At Sky High, we see firsthand how NetSuite’s cloud-based ERP transforms businesses in this space, providing a scalable solution that grows alongside the companies we serve.
Top 10 Key Innovations Unveiled at SuiteWorld 2024
1. Redesigned Oracle Redwood User Interface
NetSuite introduced the highly anticipated Oracle Redwood UI, aimed at creating a more intuitive and efficient experience for users. You may have seen this look and feel yourself already when you sign into NetSuite now!
However, Oracle Redwood is not only a pretty face. With features like natural language processing, customizable dashboards, and enhanced search capabilities, this redesigned interface is set to boost user adoption and operational efficiency. For growing businesses, a user-friendly interface means teams can onboard faster and make better, data-driven decisions with ease.
2. Enterprise Performance Management (EPM) Upgrades
NetSuite’s EPM solution received a significant AI-powered upgrade. Enhancements include generative AI for automated narrative reporting, AI-driven forecasts, and planning tools that allow finance teams to spend less time on manual processes and more on strategic initiatives. For businesses in growth mode, this means more accurate financial insights and the ability to proactively manage resources.
3. AI Enhancements Across the Suite
Artificial intelligence is increasingly shaping how businesses operate, and NetSuite is leading the charge with new AI features integrated across its platform. These tools include a digital assistant within SuiteAnalytics for real-time insights and financial exception management for automatic detection of discrepancies. For businesses looking to scale rapidly, AI-driven automation reduces errors and boosts efficiency, letting teams focus on strategic growth rather than routine tasks.
4. SuiteProcurement: Streamlining Indirect Procurement
NetSuite introduced SuiteProcurement, a powerful new tool that simplifies and automates indirect procurement processes. From order creation to invoicing and supplier integration (with partners like Amazon Business), SuiteProcurement helps companies control costs and optimize spending—an essential feature for businesses that are scaling quickly and need to streamline operations.
5. AI-Powered NetSuite Analytics Warehouse
NetSuite Analytics Warehouse also saw significant enhancements. New AI-powered features such as auto-insights and the Oracle Analytics AI Assistant allow businesses to generate comprehensive data visualizations and uncover key insights faster. For companies managing rapid growth, this tool helps identify trends, drivers, and outliers in real time, making it easier to stay agile and responsive to market changes.
6. OpenAir Enhancement
Project-based businesses can look forward to SuiteProjects Pro, an AI-powered extension of NetSuite’s project management solution (NetSuite OpenAir). This tool will allow project managers to optimize staffing, scheduling, and budget tracking, all while reducing project risks and increasing profitability. Companies that rely on efficient project delivery will find SuiteProjects Pro indispensable for scaling operations and maintaining client satisfaction.
7. NetSuite Connector for Salesforce
The newly announced NetSuite Connector for Salesforce ensures seamless, real-time data flow between two of the most widely used platforms in business today. This integration is a game-changer for companies using both systems, eliminating the need for manual updates and batch processes, and ensuring that customer data is always up to date.
8. Financial Exception Management
With AI-powered insights, NetSuite now understands more context about your transactions and can flag anomalies such as discrepancies in journal entries, SO margins, invoices and more. With the aim of automating as many tasks as possible and only having to deal with exceptions, having an assistant to automatically flag and suggest potential corrections will drive better financial management and operational efficiency across your teams.
9. Generative AI for SuiteScript API
Developers will now be able to leverage generative AI directly within SuiteScript, streamlining the development of custom apps and dynamic business solutions, significantly enhancing customization and automation processes.
10. Oracle Code Assist for SuiteScript
This AI-driven assistant simplifies coding by generating code, running tests, and automating documentation, enabling developers to speed up their projects and create innovative solutions more efficiently.
Why NetSuite is the Best Fit for Growing Companies
At Sky High, we believe that the fastest-growing companies need technology that grows with them. NetSuite’s continuous innovation ensures that as your business scales, your ERP evolves to meet your needs. Whether it’s automating finance, optimizing procurement, or leveraging AI for smarter decisions, NetSuite is designed to give companies the tools they need to thrive.
As your trusted NetSuite consultants, we’re here to help you navigate these new features and apply them to your unique business challenges. Whether you're familiar with NetSuite or just beginning to evaluate its potential, Sky High is here to help you every step of the way. Let us help you harness the full power of NetSuite to drive your business growth forward.
For more information on these exciting updates and how they can benefit your company, feel free to reach out on our website (or contact your Sky High Project Manager)!
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