NetSuite OneWorld

NetSuite OneWorld - Businesses must be data driven, innovative and able to scale rapidly and respond to market dynamics and customers. NetSuite OneWorld provides the agility, automation and capabilities to enable businesses to move beyond just thinking global to executing at a global scale by providing country-specific capabilities enabling them to meet local compliance and reporting obligations wherever they do business in the world.

NetSuite OneWorld delivers a real-time, unified global business management solution for enterprises that manage multinational and multi-subsidiary operations.

Key Benefits

• Enables the management of multiple
  subsidiaries, business units and legal entities.
• Supports consistent processes across countries
  and subsidiaries.
• Supports global compliance of internal and
  external processes.
• Provides real-time global business insight.

NetSuite OneWorld helps companies streamline NetSuite OneWorld at a glance multi-subsidiary operations and provides real-time visibility at the local, regional and headquarter 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 standard worldwide compliance. 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 real-time 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.

Why NetSuite OneWorld?

NetSuite OneWorld helps businesses drive financial and operational efficiencies as well as deliver real-time visibility and consolidation, while providing the flexibility for customizations to corporate and subsidiary needs.

Manage Multiple Subsidiaries, Business Units and Legal Entities

NetSuite OneWorld gives corporate and divisions a clear view into every level of business performance, from summary to detail, through comprehensive financial and operational role-based dashboards and real-time reports.

Run a Complete ERP System in the Cloud

NetSuite OneWorld’s cloud delivery enables global businesses to run both corporate and subsidiary operations without costly on-premise IT infrastructure and resources, cutting costs and enabling companies to efficiently extend standardized ERP to every corner of the business.

Consolidate Operations and Gain Real-Time Financial Visibility

NetSuite OneWorld accelerates financial processes with multi-currency consolidation and real-time roll-up across accounts receivable, accounts payable, payroll, inventory, billing, invoicing and order fulfillment, from local in country operations to the regional offices to global headquarters.

NetSuite OneWorld Features

The backbone of NetSuite OneWorld is the Financials.

NetSuite OneWorld Financials provides a complete cloud financial management application for global businesses. 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.

NetSuite OneWorld features for global businesses:

Global Accounting and Consolidation

NetSuite OneWorld provides a seamless experience for operations and financials by bringing down subsidiary restrictions. OneWorld provides the ability for businesses to execute on true intercompany business in a configurable, secure, fully automated, accurate, compliant, real

-time process across intercompany transactions and reconciliations, and a lot more.

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, 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.

Accounting Hub

NetSuite’s accounting hub functionality can handle specific transactions within a business entity or in cases where a company has other subsidiaries that are not using NetSuite. Information can be imported directly via CSV assigning information either at the transaction level or account level to the general ledger so that it that can be consolidated as part of the business entity’s overall financial statements.

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 ensures that you’ll always get supporting documentation. Access to NetSuite is based on users, roles and permissions. NetSuite’s SuiteCloud platform offers unrivaled levels of personalization, customization and development. All within a framework that ensures security, scalability, globalization and built in capability of being kept up to date with the latest versions of the software.

Configurable Tax Engine

Recognizing the critical need for businesses to meet local indirect tax obligations wherever they do business, NetSuite OneWorld supports 100+ countries for taxes and reporting. NetSuite SuiteTax provides a scalable and flexible tax determination, calculation and reporting engine with a goal to support any tax rule, anywhere in the world.

NetSuite OneWorld natively enables you to calculate taxes in real-time 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.

Summary

NetSuite OneWorld addresses the complex multinational and multi-company needs of organizations. It enables businesses to adjust for currency, taxation and legal compliance differences at the local level, with regional and global business consolidation and roll-up. Business leaders get unprecedented visibility of their business worldwide in real-time, ensuring consistent, compliant management across the organization, locally and globally. In addition to providing global accounting/ERP solution, NetSuite OneWorld offers global Customer Relationship Management (CRM), ecommerce and Professional Services Automation (PSA) solutions, enabling multinational businesses to align operations across finance, marketing, commerce, sales and service.