Asheesh Chacko
COO, me&u
Used in over 217 countries and dependent territories, NetSuite OneWorld enables companies to manage multiple subsidiaries, business units and legal entities from a single ERP. Support for 27 languages and 190 currencies makes it easy to work with customers and suppliers around the world, while country-specific configurations help ensure compliance with local accounting, tax and regulatory requirements. Get real-time visibility into operational and financial performance while standardizing core processes, managing risk and controlling costs at all levels of the organisation. Manage multiple subsidiaries, business units and legal entities from one solution. When the entire organisation uses the same system, metrics and processes, people are more productive, your business runs more smoothly and performance improves. Built to support both global standards and country-specific audit, tax and data security requirements, NetSuite OneWorld eases compliance with complex, ever-changing rules and regulations. Automatic currency conversions and financial consolidation provide a real-time view of business performance, whenever and wherever you need insights to inform decisions. Ensure consistency across the organisation by standardizing core business processes and workflows. Real-time consolidation at local, regional and global levels improves the timeliness and accuracy of financial statements. Eliminate the cost and complexity of supporting multiple ERP systems in different locations, with different data formats and inconsistent data standards. NetSuite OneWorld helps companies manage global operations, including multiple currencies, taxation rules and reporting requirements, across geographies and subsidiaries while providing real-time financial consolidation and visibility. NetSuite currency management supports more than 190 currencies and exchange rates and a wide variety of payment options, enabling you to do business with customers and suppliers globally. Real-time currency conversion and financial consolidation support global operations. With NetSuite, international businesses gain broad insights by restating currencies and consolidating financial reporting across business units. Multi-book accounting enables the use of multiple sets of books to accommodate differences in accounting and financial reporting requirements at local, regional and headquarters level. Because individual transactions can be posted to multiple books simultaneously, they’re recorded correctly under all applicable accounting standards. OneWorld automatically posts each transaction at the local and headquarters level, simplifying the process of generating consolidated financial statements. NetSuite’s unified platform and multi-entity capabilities support a standardised general ledger structure at the corporate or headquarters level while giving regional business units or subsidiaries the flexibility to create custom charts of accounts. Transactions recorded at the local level are automatically mapped and posted to the parent account in the correct currency and at the appropriate exchange rate. NetSuite can help you track, calculate, and pay various types of taxes based on the sale or purchase of products and services. NetSuite provides tax reporting features for VAT, GST, and withholding tax along with helping you pay tax liabilities. If your business has multiple subsidiaries, NetSuite can record the tax impact of intercompany transactions. NetSuite’s Governance, Risk and Compliance (GRC) solutions help ensure compliance with international IT and security standards. An always-on audit trail, built-in analytics, access logs and automated workflows streamline documentation and reporting of systems, resources, risks and controls. NetSuite simplifies Sarbanes-Oxley (SOX) and similar compliance obligations by supporting standardization and consistent reporting across your entire organisation. Full drill-downs, from summary reports to underlying transaction details, provide transparency and demonstrate on-going compliance with local statutory and regulatory requirements. NetSuite Electronic Payments enables you to pay vendor bills and employee expenses across the globe directly from NetSuite, as well as take payments directly from customers. Automated processing puts payments or direct debits into each bank’s predefined file format, ready to import into banking software. That lowers payment processing expenses by eliminating checks, postage and envelopes and saves time, too. Manage global operations and comply with local tax regulations, multiple accounting standards and complex reporting requirements wherever you do business. Transactions automatically post at both the subsidiary and headquarters levels, accelerating the close process and simplifying consolidations. Automatically post international transactions in both the local and standard currencies in real-time at the correct rate. NetSuite has packaged the experience gained from tens of thousands of worldwide deployments over two decades into a set of leading practices. These practices pave a clear path to success and are proven to deliver rapid business value and get you live on NetSuite in a predictable timeframe. Intelligent, stepped implementations begin with sales and span the entire customer lifecycle, so there’s continuity from sales to services to support.
What is NetSuite Global Business Management?
Financial and Operational Efficiencies
Ensure Compliance
Business Performance Insights
“You can’t scale sustainably without visibility into your entire operation, and NetSuite gives us that.”
NetSuite Global Business Management Benefits
Standardise Processes
Improved Reporting
Simplified Administration
NetSuite Global Business Management Features
Challenges NetSuite Global Business Management Solves
Meeting Global Regulatory Requirements
Difficulty Closing the Books
Managing Currency Fluctuations
Faster Time to Value
Resources
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