Home > New Cloud-Based NetSuite OneWorld Release Eases Business Processes for Global Enterprises

New Cloud-Based NetSuite OneWorld Release Eases Business Processes for Global Enterprises

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NetSuite Australia  announces the new release of NetSuite OneWorld, a powerful cloud ERP solution for multinational companies with complex operations.  

NetSuite Inc. is a world-leading provider of cloud-based financials and ERP software suites.  

NetSuite OneWorld 2010 raises the bar for global ERP solutions with deeper functionality and ease of use, enabling global enterprises to easily manage complex processes in the cloud.   

New functionalities in the cloud ERP solution include complex multi-subsidiary inventory management, deeper support for country- and local tax codes, expanded certification for the European market, greater control of foreign currency amortisation and revaluation, advanced user interface as well as Google Apps integration.   

NetSuite's global growth fuelled by NetSuite OneWorld cloud software has helped the company grow its market share faster than any other ERP vendor in North America, Europe and APAC countries, according to a Gartner report published in April 2010.    

Between 2007 and 2009, NetSuite grew market share by more than 80% in North America, more than 88% in the UK and more than 83% in Australia.  

Zach Nelson, CEO of NetSuite says that NetSuite OneWorld proves that complex processes can be run in the cloud, allowing companies to operate their business processes around the world with ease.  

He adds that the quick and easy deployment enables companies to go live in three to six months instead of the years that it takes to roll-out traditional non-cloud software offerings.  

Nestor Zwyhun, chief technology officer at TradeCard, a New York-based international supply chain collaboration platform says that NetSuite OneWorld seamlessly integrates the general ledgers of their five international subsidiaries with multiple currencies facilitating higher visibility and SOX compliance.  

Key features of NetSuite OneWorld:  

Enhanced Global Inventory Management Eases Fulfilment    

Sophisticated inventory management in NetSuite OneWorld 2010 allows businesses with complex subsidiary structures to transfer inventory between any subsidiary anytime, anywhere through a web browser.  

Simplified Tax Reporting in More Countries than Ever  

Comprehensive automated country-specific tax reporting and automated tax calculation with NetSuite OneWorld 2010 help businesses with local operations that straddle multiple tax boundaries gain even more.  

The cloud ERP solution offers deeper support for German, Netherlands, Australian, New Zealand, Canadian and Philippine taxes.  

Multinational Accounting Standards Compliance in Europe  

With the rising importance of compliance with global accounting standards in the cloud computing environment, NetSuite OneWorld 2010 rises to the challenge with a string of certifications to accounting standards applicable in countries such as Germany, Austria, Switzerland and the UK.  

Expanded Global Currency Options  

NetSuite OneWorld Version 2010 provides support for multiple currencies with flexible foreign currency amortisation.  

Integration with Google's Cloud Productivity Suite  

NetSuite OneWorld’s integration with Google Apps presents businesses with the attractive opportunity to take their entire business to the cloud, offering tremendous savings and usability advantages, particularly for remote subsidiaries.  

Advanced User Interface  

NetSuite OneWorld Version 2010 offers a streamlined user experience, enabling users to become productive more quickly. Additionally, the simplified navigation makes common tasks easy and requires fewer clicks.

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