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Oracle NetSuite boosts AI capacity across product suite, announced at SuitWorld

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Business solutions provider Oracle NetSuite announced a cavalcade of new AI product offerings across its entire suite, providing capacities for automation, analytics, project management and more.

“We are embedding AI-powered capabilities across the suite so customers are benefiting from it as soon as they log in. By ensuring AI is built into existing business processes and not bolted on, we are helping our customers achieve immediate value from the latest AI innovations at no additional cost,” said Evan Goldberg, founder and executive vice president of Oracle NetSuite, during the SuiteWorld conference in Las Vegas on Monday. “The latest updates build on the hundreds of new generative AI use cases we have added in the last year and will help our customers further increase productivity and gain more value from the suite.”

These AI updates give users the ability to automatically detect financial exceptions (NetSuite Financial Exception Management), query data via a generative AI interface (NetSuite Suite Analytics Assistant), gain more control over generative AI prompt configuration along the lines of format, tone and creativity (NetSuite Prompt Studio), embed generative AI capabilities into NetSuite extensions and customizations, build extensions and customizations through an AI code compassion (Oracle Code Assist SuiteScript optimization), and configure, optimize and create new AI-powered capacities throughout the suite. 

Oracle noted that no customer data is shared with large language model providers or seen by other customers. To further protect sensitive information, role-based security is embedded directly into NetSuite workflows and only recommends content that end users are entitled to view.

NetSuite Analytics Warehouse updates

Oracle NetSuite also announced a bevy of AI-related updates for its Analytics Warehouse solution. The latest updates provide new AI tools and models to help customers analyze data more efficiently and gain predictive insights to improve forecasting. Customers can now generate data visualizations and natural language insights based on a dataset’s attributes, measures and other points of interest; identify meaningful business drivers, contextual insights, and data anomalies through AI; directly query data through conversational interactions to produce insights and data visualizations; automate analysis through no-code models built for specific use cases that can predict scenarios, such as customer churn and inventory stockouts; automate algorithm selection and customizing modeling workflows; and access a collaborative interface to explore data visually and tailor machine learning models to address unique business needs.

“For growing businesses, making sense of data can be a time-consuming process that may require advanced data science and coding skills. With limited resources, many businesses are not able to invest in these skills and miss out on valuable data insights,” said Goldberg. “We’re dedicated to helping businesses of all sizes unlock the full potential of their data. The latest updates to NetSuite Analytics Warehouse will help customers automate data analysis and leverage AI to produce fast and meaningful insights that can help improve decision-making.”

Most of these new capacities are now available. The no-code AI models to automate analysis are planned to be available within the next 12 months.

NetSuite Enterprise Performance Management (EPM) updates

Oracle NetSuite also announced new AI-powered updates to NetSuite Enterprise Performance Management (EPM), intended to help finance teams streamline reporting, expand insights, improve decision-making and steer their business toward new growth opportunities.

Users can create AI-powered narratives, explanations and visuals from financial and transactional data; identify patterns, trends, and anomalies and deliver detailed AI-generated commentary and narratives with the Intelligent Performance Management (IPM) Insights feature; quickly and easily understand the key factors behind AI-generated forecasts; and accomplish a variety of tasks using natural language conversations via an AI-driven interface.

“Finance teams often spend a significant amount of time gathering data and creating narratives to explain financial results, justify important decisions and forecast future growth. This can be a labor-intensive process that often diverts time away from more strategic analysis and slows down decision-making,” said Goldberg. “To address this challenge, the latest updates to NetSuite EPM help finance teams leverage powerful AI innovations to help increase efficiency, expand insights and enable more time to be spent on value-added activities.”

NetSuite SuiteProjects Pro planned updates

In addition, Oracle NetSuite plans to deliver a new AI-powered extension to its project management solution, NetSuite SuiteProjects. NetSuite SuiteProjects Pro — previously called NetSuite OpenAir. 

Aimed mainly at project managers, the new capacities will include the ability to monitor the health of projects, anticipate and mitigate issues, and prevent delays by proactively calculating and analyzing project risks based on historical data and key metrics; access AI-powered staffing recommendations; use global search, role-specific and actionable task lists, and a visually engaging home page for key metrics, KPIs and charts; and provide a complete project-focused solution and per-user pricing.

“As businesses expand, their needs become more complex, and projects require more intentional monitoring and resourcing to maintain project profitability and meet key milestones,” said Goldberg. “NetSuite SuiteProjects Pro enables project-based businesses to take advantage of the latest advancements in AI to improve the speed of workflows and increase efficiency by automating staffing, scheduling, budget tracking, and billing.”

NetSuite SuiteProjects Pro enhancements are planned to be available within the next 12 months. Current OpenAir customers will automatically experience the benefits of SuiteProjects Pro.

Oracle Fusion Cloud Applications Suite updates

Finally, Oracle NetSuite outlined major new AI capacities to the Oracle Fusion Cloud Applications Suite which are intended to help organizations optimize finance, supply chain, HR, sales, marketing and service. Oracle Cloud ERP now features predictive cash forecasting capabilities using AI models to create prescriptive and continuous daily, weekly or monthly cash forecasts; new narrative reporting capabilities through AI-generated financial performance narratives, variance explanations and commentary on trends impacting the business; and new automated transaction records in Oracle Fusion Cloud Sustainability which enable business leaders to use AI, classification rules, and sustainability metadata attributes to automatically create activity records and add transactions to a sustainability ledger.

Oracle Cloud HCM now features a “bespoke skills inventory” that lets users gain a complete catalog of their organization’s skills that is always kept up to date and can be modified or refined. HR leaders can also combine enriched skills data with data from across the enterprise and third-party sources.

Oracle Cloud SCM features a new smart operations workbench that helps organizations focus on issues impacting production goals by providing real-time insight into work orders and generative AI-powered shift reporting. In addition, new assisted authoring in Oracle Order Management enables users to leverage generative AI to develop order acknowledgement emails and order change history notes. 

Finally, the new AI innovations in Oracle Cloud CX includes assisted authoring capabilities in Oracle Cloud CX, which helps sales teams efficiently engage with buyers by providing AI-generated answers to contract-related questions, emails and activity summaries, and executive summaries for quotes and proposals. In addition, new AI capabilities in Oracle CX Unity detect signals, based on role, title, and aggregated topic engagement, and provide next best action recommendations. 

“We are the only enterprise vendor to offer a complete suite of business applications on a fully integrated technology stack — from hardware to database to applications — and an infrastructure that is trusted by leading AI providers and the world’s leading large language models,” said Steve Miranda, executive vice president of applications development, Oracle. “This puts us in unique position to help our customers quickly and easily take advantage of the latest AI innovations. The new AI capabilities in Fusion Applications, embedded at no extra cost, will help our customers increase the speed and accuracy of business processes, accelerate decision-making and drive more revenue.”

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Accounting

XcelLabs launches to help accountants use AI

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Jody Padar, an author and speaker known as “The Radical CPA,” and Katie Tolin, a growth strategist for CPAs, together launched a training and technology platform called XcelLabs.

XcelLabs provides solutions to help accountants use artificial technology fluently and strategically. The Pennsylvania Institute of CPAs and CPA Crossings joined with Padar and Tolin as strategic partners and investors.

“To reinvent the profession, we must start by training the professional who can then transform their firms,” Padar said in a statement. “By equipping people with data and insights that help them see things differently, they can provide better advice to their clients and firm.”

Padar-Jody- new 2019

Jody Padar

The platform includes XcelLabs Academy, a series of educational online courses on the basics of AI, being a better advisor, leadership and practice management; Navi, a proprietary tool that uses AI to help accountants turn unstructured data like emails, phone calls and meetings into insights; and training and consulting services. These offerings are currently in beta testing.

“Accountants know they need to be more advisory, but not everyone can figure out how to do it,” Tolin said in a statement. “Couple that with the fact that AI will be doing a lot of the lower-level work accountants do today, and we need to create that next level advisor now. By showing accountants how to unlock patterns in their actions and turn client conversations into emotionally intelligent advice, we can create the accounting professional of the future.”

Tolin-Katie-CPA Growth Guides

Katie Tolin

“AI is transforming how CPAs work, and XcelLabs is focused on helping the profession evolve with it,” PICPA CEO Jennifer Cryder said in a statement. “At PICPA, we’re proud to support a mission that aligns so closely with ours: empowering firms to use AI not just for efficiency, but to drive growth, value and long-term relevance.”

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Accounting

Accounting is changing, and the world can’t wait until 2026

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The accountant the world urgently needs has evolved far beyond the traditional role we recognized just a few years ago. 

The transformation of the accounting profession is not merely an anticipated change; it is a pressing reality that is currently shaping business decisions, academic programs and the expected contributions of professionals. Yet, in many areas, accounting education stubbornly clings to outdated, overly technical models that fail to connect with the actual demands of the market. We must confront a critical question: If we continue to train accountants solely to file tax reports, are we truly equipping them for the challenges of today’s world? 

This shift in mindset extends beyond individual countries or educational systems; it is a global movement. The recent announcement of the CIMA/CGMA 2026 syllabus has made it unmistakably clear: merely knowing how to post journal entries is insufficient. Today’s accountants are required to interpret the landscape, anticipate risks and act with strategic awareness. Critical thinking, sustainable finance, technology and human behavior are not just supplementary topics; they are essential components in the education of any professional seeking to remain relevant. 

The CIMA/CGMA proposal for 2026 is not just a curriculum update; it is a powerful manifesto. This new program positions analytical thinking, strategic business partnering and technology application at the core of accounting education. It unequivocally highlights sustainability, aligning with IFRS S1 and S2, and expands the accountant’s responsibilities beyond mere numbers to encompass conscious leadership, environmental impact and corporate governance. 

The current changes in the accounting profession underscore an urgent shift in expectations from both educators and employers. Today, companies of all sizes and industries demand accountants who can do far more than interpret balance sheets. They expect professionals who grasp the deeper context behind the numbers, identify inconsistencies, anticipate potential issues before they escalate into losses, and act decisively as a bridge between data and decision making. 

To meet these expectations, a radical mindset shift is essential. There are firms still operating on autopilot, mindlessly repeating tasks with minimal critical analysis. Likewise, many academic programs continue to treat accounting as purely a technical discipline, disregarding the vital elements of reflection, strategy and behavioral insight. This outdated approach creates a significant mismatch. While the world forges ahead, parts of the accounting profession remain stuck in the past. 

The consequences of this shift are already becoming evident. The demand for compliance, transparency and sustainability now applies not only to large corporations but also to small and mid-sized businesses. Many of these organizations rely on professionals ill-equipped to drive the necessary changes, putting both business performance and the reputation of the profession at risk. 

The positive news is that accountants who are ready to thrive in this new era do not necessarily need additional degrees. What they truly need is a commitment to awareness, a dedication to continuous learning, and the courage to step beyond their comfort zones. The future of accounting is here, and it is firmly rooted in analytical, strategic and human-oriented perspectives. The 2026 curriculum is a clear indication of the changes underway. Those who fail to think critically and holistically will be left behind. 

In contrast, accountants who see the big picture, understand the ripple effects of their decisions, and actively contribute to the financial and ethical health of organizations will undeniably remain indispensable, anywhere in the world.

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Accounting

Republicans push Musk aside as Trump tax bill barrels forward

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Congressional Republicans are siding with Donald Trump in the messy divorce between the president and Elon Musk, an optimistic sign for eventual passage of a tax cut bill at the root of the two billionaires’ public feud.

Lawmakers are largely taking their cues from Trump and sticking by the $3 trillion bill at the center of the White House’s economic agenda. Musk, the biggest political donor of the 2024 cycle, has threatened to help primary anyone who votes for the legislation, but lawmakers are betting that staying in the president’s good graces is the safer path to political survival.

“The tax bill is not in jeopardy. We are going to deliver on that,” House Speaker Mike Johnson told reporters on Friday.

“I’ll tell you what — do not doubt, don’t second guess and do not challenge the President of the United States Donald Trump,” he added. “He is the leader of the party. He’s the most consequential political figure of our time.”

A fight between Trump and Musk exploded into public view this week. The sparring started with the tech titan calling the president’s tax bill a “disgusting abomination,” but quickly escalated to more personal attacks and Trump threatening to cancel all federal contracts and subsidies to Musk’s companies, such as Tesla Inc. and SpaceX which have benefitted from government ties.

Republicans on Capitol Hill, who had —  until recently — publicly embraced Musk, said they weren’t swayed by the billionaire’s criticism that the bill cost too much. Lawmakers have refuted official estimates of the package, saying that the tax cuts for households, small businesses and politically important groups — including hospitality and hourly workers — will generate enough economic growth to offset the price tag.

“I don’t tell my friend Elon, I don’t argue with him about how to build rockets, and I wish he wouldn’t argue with me about how to craft legislation and pass it,” Johnson told CNBC earlier Friday.

House Budget Committee Chair Jodey Arrington told reporters that House lawmakers are focused on working with the Senate as it revises the bill to make sure the legislation has the political support in both chambers to make it to Trump’s desk for his signature. 

“We move past the drama and we get the substance of what is needed to make the modest improvements that can be made,” he said.

House fiscal hawks said that they hadn’t changed their prior positions on the legislation based on Musk’s statements. They also said they agree with GOP leaders that there will be other chances to make further spending cuts outside the tax bill. 

Representative Tom McClintock, a fiscal conservative, said “the bill will pass because it has to pass,” adding that both Musk and Trump needed to calm down. “They both need to take a nap,” he said.

Even some of the House bill’s most vociferous critics appeared resigned to its passage. Kentucky Representative Thomas Massie, who voted against the House version, predicted that despite Musk’s objections, the Senate will make only small changes.

“The speaker is right about one thing. This barely passed the House. If they muck with it too much in the Senate, it may not pass the House again,” he said.

Trump is pressuring lawmakers to move at breakneck speed to pass the tax-cut bill, demanding they vote on the bill before the July 4 holiday. The president has been quick to blast critics of the bill — including calling Senator Rand Paul “crazy” for objecting to the inclusion of a debt ceiling increase in the package.

As the legislation worked its way through the House last month, Trump took to social media to criticize holdouts and invited undecided members to the White House to compel them to support the package. It passed by one vote.

Senate Majority Leader John Thune — who is planning to unveil his chamber’s version of the bill as soon as next week — said his timeline is unmoved by Musk. 

“We are already pretty far down the trail,” he said.

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