Global Business Management
The modern company must be data driven, innovative and able to scale rapidly and respond to market dynamics and customers. NetSuite OneWorld delivers a real-time, unified global business management platform for enterprises that manage multinational and multi-subsidiary operations—at a fraction of the cost of traditional on-premise ERP solutions.
NetSuite OneWorld helps multinational companies streamline multi-subsidiary operations and provides real-time visibility at the local, regional and corporate levels. With NetSuite OneWorld, companies can develop standard business processes and deploy them across their divisions and subsidiaries at the click of a button, ensuring compliance of standard processes worldwide. Additionally, NetSuite OneWorld delivers global end-to-end solution to meet critical and time-consuming regulatory financial compliance requirements such as IFRS, SOX and GAAP. Finally, NetSuite OneWorld provides organizations with realtime global business insight via role-based dashboards. The business heads and other stakeholders can get a real-time view of their business performance and drill down into key metrics within an organization’s global operations, eliminating the need for custom reports, which may take hours if not days, to generate.
The NetSuite OneWorld Unified Global Business Management platform:
- Enables the management of multiple subsidiaries, business units and legal entities.
- Supports consistent processes across countries.
- Supports global compliance of internal and external processes.
- Provides real-time global business insight.
The backbone of NetSuite OneWorld is the Financials.
With NetSuite OneWorld Financials, businesses can adjust for currency, language, taxation and legal compliance differences at the local level, alongside regional and
global business consolidation and roll-up. NetSuite OneWorld provides real-time visibility into all aspects of your business worldwide, ensuring consistent and compliant management both locally and globally.
With support for over 190 currencies, 19 languages and customer deployments in over 160 countries, country-specific accounting standards across North America, Europe and Asia, NetSuite OneWorld enables organizations to seamlessly meet the individual needs of local operations and easily adapt to the latest accounting standards and regulations.
- Global Accounting and Consolidation
NetSuite OneWorld is built around robust financial reporting capabilities that enable an organization to understand what is happening across the global business in real-time. In addition, NetSuite OneWorld provides a multi-language user-interface that helps bridge communication barriers and provides a flexible hierarchy that allows businesses to run their entire entity structure with ease. OneWorld is designed to provide an instant global view of the business with subsidiary specific drill-down allowing you to quickly understand what is going on anywhere in the world.
- Comprehensive Multi-currency Management
NetSuite multi-currency management supports 190+ currencies and exchange rates (enabling you to do business with both customers and vendors globally) as well as a wide variety of payment options. It provides real-time currency conversion and financial consolidation for all your global operations. With NetSuite OneWorld, you are able to
manage a complete range of international tax structures and restate currencies and consolidate financial reporting across business units.
- Audit and Compliance Reporting
NetSuite OneWorld has been built to support both global standard and country-specific requirements. The always-on audit trail, built-in analytics, access logs and workflow, and the ability to drill down to the underlying transaction detail ensured that you’ll always get supporting documentation. Further, roles in user permissions management in
business workflow capabilities allow you to configure the system behaviors to support your own process requirements to help you meet the needs of local compliance obligations.
- Configurable Tax Engine
Recognizing the critical need for businesses to meet local indirect tax obligations wherever they do business, NetSuite OneWorld provides out-of-the-cloud pre-configuration to more than 50 countries. NetSuite also provides a built-in tax engine that is configurable to your specific business needs.
NetSuite OneWorld natively enables you to calculate taxes in realtime on sales and purchase transactions and cross border sales and Intrastat reporting obligations between EU countries and file reports electronically, making the installation of stand-alone tax engine unnecessary for many businesses.