GenAI for Finance teams: assessment & advice on ERP improvements

GenAI for Finance teams: assessment & advice on ERP improvements

One of the areas for applying GenAI is enterprise software review and audit. While different sources say the key niche for the GenAI use case is planning/forecasting, it also has massive potential in consulting.

I like life examples with fewer words, so I go straight to the point.

How do you answer such questions?

• What is the automation level of our NetSuite system?
• Do we use NetSuite functionality in the right way? I mean best practices, etc.

Answer:

Option 1: Spend $3,000–$10,000 with your consulting partner to get those answers

Option 2: Spend 20 min of your time

Option 1:

You know how to spend cash with consulting partners, so there is no need to explain how to do that.

Option 2:

I will focus on option no. 2 in this article.

By leveraging NetSuite’s Saved Search to extract just four key columns of data and utilize GenAI deep research functions of Gemini Google or ChatGPT OpenAI or Claude Anthropic, CFOs, and finance teams can reveal hidden patterns, optimize performance, and make informed decisions with minimal effort.

Below, we’ll explore how to streamline and elevate your NetSuite data analysis so you can uncover the trends that matter—and do so in record time.

The Power of Simple Data Extraction

If you can run a basic NetSuite Saved Search, you already have what it takes to start. Begin by extracting four essential columns—like Transaction Type, Source Area, Department, and Record Count. Don’t be fooled by the simplicity: these four columns often capture enough DNA to paint a holistic picture of your core operations.

The idea here is to get information about the objects created during some period. Those objects are a good indication of what users are doing and what processes the company is running; they can tell so much information about the processes that it is hard to fit into one paragraph. It is like for an experienced financial leader to look at the PL and BS of the business to see how it is performing and much more insights.

With those columns in hand, LLMs like Gemini, ChatGPT, and Claude let you slice, dice, and visualize the data. What looks like a small dataset on the surface can quickly reveal significant insights—trending error rates, top-performing departments, or unexpected inventory moves. This is where the real magic happens: minimal data and maximum insight.

Analyze the data with LLM

Go to Gemini/Claude/ChatGPT, share the CSV with the data, and design a simple prompt like this:

Please analyze the objects created in NetSuite over a month. Please analyze the information from different angles, e.g., system usage, automation, performance, etc.

Wait for a few minutes, and you will get an 8 pages report with many insights!

FEW MINUTES for such report, it is an amazing )

LLM Response

Please find an example of the deep research analysis from Google Gemini:

Please see a few sections from the report below:

Our recent analysis of one month’s NetSuite records (9,072 transactions total) revealed some fascinating activity patterns. Here are just a few highlights:

• Inventory Adjustments (1,351 records)

The top transaction type, possibly reflecting frequent stock reconciliations or production variances. If you see similar patterns, you might dig deeper into why adjustments spike at certain times.

• Item Receipts (991) and Bills (848)

Indicate a healthy flow of incoming goods and vendor invoices. Keep an eye on these to optimize procurement cycles, manage AP cycles, and ensure timely payments.

• User Interface vs. Automated Sources

Over 2,700 records came directly from the User Interface (UI), meaning heavy reliance on manual data entry. Meanwhile, SOAP Web Services and RESTlets contributed thousands of automated entries—showing that manual and automated processes coexist prominently.

• Departmental Split

Manufacturing led the way with 4,848 total records, followed by Finance with 4,136. This underscores how NetSuite is at the heart of both operational and financial activities.

• The Importance of “Why”

Not just what transactions are happening, but also why they’re happening. A deep dive into root causes—like frequent Inventory Adjustments—can reveal cost-saving or process-optimization opportunities.

Actionable Recommendations for CFOs

• Investigate High-Frequency Transactions

Repeated Inventory Adjustments might signal inconsistent stock counts or process gaps. Track down the “why” behind your data peaks.

• Automate Where It Counts

Heavy UI usage can mean bottlenecks and potential errors. Look for opportunities to expand SOAP Web Services and scripting to streamline these data entries.

• Monitor Your Integrations

If SOAP Web Services and RESTlets are creating thousands of records, keep them optimized. Even small inefficiencies can add up at scale.

• Empower Your Manufacturing Team

Manufacturing often churns out the most records. Sharing real-time dashboards and insights can help them address production issues, reduce waste, and align better with finance.

• Extend Your Analysis to Unlock More Value

Don’t stop at a one-month data snapshot. Compare data over multiple months to spot seasonality, growth trends, and improvement opportunities.

The ROI? Priceless.

Such a meaningful analysis based on limited information can be done only by an very experienced NetSuite consultant with experience in manufacturing and finance. For a real expert, looking at the system to understand key insights wouldn't take much time. Still, if we do not consider an expert to do that job, you can land up to 20 consulting hours, leading to $3,000–$7,000.

Once you spot that hidden pattern—like an unexpected spike in a specific expense category or a recurring inventory shortfall—then you can contact your consulting partner and ask for support to fix that.

It is essential to understand that GenAI (as of today) will not fix the issue, but it can make an assessment and highlight the areas where you can improve the efficiency.

The Competitive Edge: Why This Matters

As a CFO, your time is precious, and decisions often need to be made on the fly. Integrating NetSuite data with a robust analysis tool like Gemini/ChatGPT/Claude puts real-time insights at your fingertips—no more waiting days for reports or wrestling with complex spreadsheets.

• Holistic Visibility:See how finance, supply chain, and manufacturing processes intertwine.
• Informed Decisions:Identify root causes behind data trends and act before they escalate into bigger problems.
• Sustainable Growth:Streamlined operations and data-backed decisions set the stage for faster, more profitable growth.

Ready to Brew Some Insights?

The future of finance and operations is data-driven, and ERP is your backbone. By leveraging simple data, LLM, and expert consultants when needed, you can turn raw system data into actionable insights—often in the time it takes to brew your morning coffee.

P.S. I brew my coffee for 29 minutes every morning :)