Integrated Suite and Cloud Computing Allow Midsized Companies to Think
Locally AND Globally by Unifying Business Operations in a Single System
SAN MATEO, Calif., April 17 /PRNewswire-FirstCall/ -- NetSuite Inc.
(NYSE: N), a leading vendor of on-demand, integrated business management
software suites that include Accounting / Enterprise Resource Planning
(ERP), Customer Relationship Management (CRM) and Ecommerce software for
small and midsized businesses and divisions of large companies, today
announced NetSuite OneWorld, a cloud computing solution which enables
multi-national and multi-subsidiary companies to manage their global
business operations in real-time. For more details on NetSuite OneWorld,
please visit http://www.netsuite.com/oneworld
(Logo: http://www.newscom.com/cgi-bin/prnh/20021024/SFTH024LOGO)
NetSuite OneWorld makes real-time, global business management feasible
for the first time by combining a mature, multi-company business
application suite with cloud computing delivery. The new release adds a key
enhancement to NetSuite's One System data model to enable multiple
companies and subsidiaries to operate in a single database instance. This
re-architecture is the biggest product enhancement since the introduction
of NetSuite itself, to provide the product's signature capability to
deliver deep and locally/nationally appropriate functionality (currency,
taxation, language, reporting, dashboards, etc.) while providing for
instantaneous global roll-up, visibility and compliance management.
NetSuite's native Software as a Service (SaaS) delivery model enables the
OneWorld functionality to be accessed anywhere simply by opening a browser,
and eliminates the enormous IT issues associated with traditional
approaches to global business management. The combination of the new
NetSuite OneWorld capabilities and NetSuite's cloud computing delivery
platform eliminates the cost and technology barriers facing midsized
companies operating globally.
NetSuite OneWorld is to date the first and only announced on-demand
system to deliver real-time subsidiary management and business
consolidation capabilities to mid-market companies for front-office,
back-office and ecommerce operations. Prior to NetSuite OneWorld, only
large companies willing to spend tens to hundreds of millions of dollars
could approach such levels of business integration. Mid-sized companies
using traditional applications such as Microsoft Dynamics GP (often
referred to as Great Plains) could achieve a low-level of business
integration, but often only see limited consolidated financials of suspect
value. Of course, large systems such as SAP or mid-market systems like
Microsoft Dynamics GP are not delivered as native web-applications, so any
attempt at limited business consolidation required large expenditures in IT
costs and systems management.
NetSuite OneWorld gives mid-sized companies a more powerful, globally
integrated system than even the world's largest companies have. Rather than
costing millions of dollars for the capability, NetSuite OneWorld is
available as a simple add-on capability to NetSuite for $1,999 per month.
Delivered as a cloud computing service, there are no on-going costs to
manage or maintain the application. Rather than taking years to implement,
NetSuite OneWorld can be up and running in as little as six weeks, and
there are currently more than 30 companies live on NetSuite OneWorld, with
another 50 in process. Finally, Return-on-Investment (ROI) on NetSuite
OneWorld is truly remarkable, with many customers achieving complete ROI
immediately upon implementation (source: Nucleus Research note i50
published April 2008 available at http://www.NucleusResearch.com).
"We were able to roll out NetSuite OneWorld across 3 global locations
-- our U.S. headquarters, a newly acquired subsidiary in France and a newly
created subsidiary in Japan -- in just 6 weeks," said Tod Harmon, CFO of
Six Apart. "Now with the global deployment complete, NetSuite OneWorld
gives us a comprehensive view of our entire operation from a consolidated
standpoint -- financials in local currency for our individual entities, as
well as reporting on our subsidiaries in a single consolidated, global,
multi-currency system."
"NetSuite is the first company to deliver a real-time multi-company,
multi-national business system built on a Software as a Service platform
that gives mid-market companies local and global visibility across front
office and back office operations in real-time. This is a bold move," said
Bruce Richardson, Chief Research Officer of AMR Research.
"With NetSuite OneWorld, we are delivering capabilities to mid-sized
companies that even the world's largest companies have failed to achieve
after spending millions of dollars," said Zach Nelson, CEO of NetSuite.
"The combination of Cloud Computing with NetSuite OneWorld delivers local
control with global visibility, not just across financials but across every
aspect of the business -- from lead to forecast to order to cash
collection."
With NetSuite OneWorld, companies with multiple subsidiaries, business
units and legal entities can use the integrated software suite to help
manage local operations across multiple locations, and roll the data up for
regional and global visibility in their currency of choice. Individual
users at the local level get an application in their language and can
transact in the local currency with local taxes and operational compliance
enforced. So a sales rep entering an order or a finance user billing an
invoice in Japan both use NetSuite OneWorld in Japanese, with Japanese Yen
as their currency. Regional managing directors and executives at corporate
headquarters have real-time visibility to these local operations -- both in
the local currency used at the subsidiary level, as well as converted to
regional and corporate currencies, based on their location. For example,
the Japanese subsidiary can roll up to regional headquarters in Singapore
with conversion to the Singapore Dollar or examined at the subsidiary level
in Japanese Yen -- so performance metrics and key business indicators are
an apples to apples comparison with everyone driving to the same goal,
rather than dealing with data out of different systems with no basis for
comparison, making it difficult to drive global business success.
Built from the ground up as one system that includes ERP, CRM and
Ecommerce, NetSuite OneWorld addresses complex multi-national and
multi-company needs of these mid-market, global organizations.
Internationally, NetSuite OneWorld can readily enable businesses to adjust
for currency, taxation and legal compliance differences at the local level,
with regional and global business consolidation and roll-up. Within one
country, NetSuite OneWorld is also helpful for companies growing via
acquisition or expanding rapidly and needing to bring a subsidiary on
quickly to a consolidated management view. In addition to Global ERP and
Global CRM capabilities, NetSuite OneWorld goes beyond any traditional
business application by enabling multi-site Ecommerce capabilities --
complete with multi-currency, multi-language, local tax compliance and
local inventory sourcing capabilities. Additional benefits of NetSuite
OneWorld include the following:
NetSuite OneWorld Allows Companies' Back Office ERP Operations to Act
Locally and Roll-up Globally
NetSuite OneWorld has Global ERP capabilities that deliver
multi-currency business consolidation of financials 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 office, to global headquarters. Costs can be reduced with NetSuite
OneWorld because companies are able to staff back-office operations
centrally and the same employees can handle operations across multiple
subsidiaries. Because NetSuite OneWorld includes complete multi-currency
management with automated currency rate updates, corporate headquarters or
the parent company benefit from multiple levels of consolidated reporting
that always accurately reflect currency conversion. Businesses running on
NetSuite OneWorld can also populate a single chart-of-accounts across
subsidiaries, or use separate charts-of-accounts for each company with
postings between subsidiaries such as expense allocation managed via
inter-company journals. Local taxes are also readily handled across
subsidiaries thanks to an embedded tax engine that allows for multiple tax
schedules for everything from GST, to VAT, to consumption tax or general
sales tax. Revenue recognition, local financial reporting and compliance
are also built-in components of NetSuite OneWorld. Finally, NetSuite
OneWorld allows for global order management and sourcing with the ability
to manage inventory and fulfillment across multiple locations with product
items represented globally or on a per subsidiary basis.
NetSuite OneWorld Provides Global CRM to Improve Global Selling
NetSuite OneWorld has Global CRM capabilities that allow for management
of multi-currency quotas, forecasts, commission payments, sales tax
calculations and real-time reporting for everyone in a global sales
organization from the local rep, to the regional vice president to the head
of worldwide sales. Additionally, growing companies typically employ
multiple sales channels for their global sales operations so NetSuite
OneWorld allows for automation of common sales channels employed
internationally including direct sales, distribution partner networks and
Ecommerce. For instance, local direct sales reps can use a localized
interface to transact in their local language and currency and see their
quota, forecast, sales and commissions locally. Multi-currency conversion
and business consolidation then allow those same local transactions to be
rolled-up to regional and global levels with currency conversion occurring
at each level. So a sales rep in Germany can interact with a user interface
in German and enter an opportunity or an order in Euros, while the Managing
Director for the EMEA region based in the UK can use an English user
interface and may see that same order forecasted in British Pounds, and the
head of Worldwide Sales based in the US headquarters can see it forecasted
in US Dollars. Additionally, marketing and customer support operations can
also be managed globally using NetSuite OneWorld so processes such as lead
routing and trouble ticket assignment can easily be handled across regions
or in-country, with global customer visibility and real-time measurement of
marketing and service operational performance.
NetSuite OneWorld Makes Global Ecommerce Operations Feasible
With multi-site, multi-currency, multi-language, local tax compliance
and local inventory sourcing capabilities, NetSuite OneWorld makes Global
Ecommerce operations a snap. Additionally, if separate subsidiaries call
for different branding on websites, each site can be run from the same
NetSuite OneWorld account but with a different look and feel applied, and
with different items and pricing schedules exposed on each site. Every
page, product item and button on the site can be translated into a nearly
unlimited number of languages, while local taxes and currencies are handled
automatically as part of the checkout process. All Ecommerce sales are
rolled-up and consolidated at the subsidiary, country, regional or global
level, allowing for analysis against other sales channels, as well as
spotting performance trends across various locations.
NetSuite OneWorld Delivers Real-Time Analytics for Global Organization
to Make Timely Course Corrections
NetSuite OneWorld includes Global Business Intelligence capabilities
that support local, regional and global metrics across a wide range of
aspects of the business in real-time with currency conversion occurring as
needed at each level of the subsidiary management hierarchy. With the
benefit of consolidated data that NetSuite OneWorld provides, the
decision-making process within a business is immediately improved with a
plethora of pre-built metrics that can be tailored and personalized for
role-based dashboards. Executives and regional managers can set their key
indicators for each individual region or subsidiary and have complete
drill-down to the specific transaction. Financial officers can easily
analyze the general ledger impact of transactions at the local, regional or
global level while sales executives can analyze quota, forecast sales and
commissions at any level of sales hierarchy, based on their operational
access. With all key business metrics visible and measurable in real-time
across all business operations, executive decision making and timely course
corrections are a few clicks away, rather than having to wait so long for
research to be completed that the question to be resolved becomes moot.
Pricing and Availability:
Available now, NetSuite OneWorld is an add-on module to the base
NetSuite product and is offered for $1,999 per month.
About NetSuite
NetSuite Inc. is a leading vendor of on-demand, integrated business
management software suites for small and midsized businesses. NetSuite
enables companies to manage core business operations in a single system,
which includes Accounting / Enterprise Resource Planning (ERP), Customer
Relationship Management (CRM), and Ecommerce. NetSuite's patent-pending
"real-time dashboard" technology provides an easy-to-use view into
up-to-date, role-specific business information.
NOTE: NetSuite and the NetSuite logo are registered service marks of
NetSuite Inc.
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