NetSuite OneWorld 2011 Advances Financial Consolidation, International Business Management, Analytics, and More
NetSuite Inc. (NYSE: N), the industry’s leading provider of cloud-based financials / ERP software suites, today announced the newest version of NetSuite OneWorld, the world’s first and most powerful cloud ERP solution for global companies. NetSuite OneWorld 2011 elevates its leading global financial consolidation capabilities with automated intercompany management that accelerates and increases the efficiency and rigor of the close process. NetSuite OneWorld 2011 further streamlines compliance through expanded support for international taxation and audit reporting. New advanced inventory costing capabilities solidify NetSuite’s fit as the cloud ERP solution of choice for manufacturers and wholesalers. NetSuite OneWorld 2011 delivers slice and dice insight for every user, with real-time OLAP style multi-dimensional analytics, and new SuiteCloud developer enhancements which further enable the mobilization of ERP within global enterprises. For more information about NetSuite OneWorld 2011, please visit http://www.netsuite.com/oneworld.
NetSuite OneWorld has already established itself as the world’s most deployed cloud-based ERP solution globally for managing the needs of complex, mission-critical business processes. NetSuite’s leadership has been recognized by the 2011 CODiE Award for Best Financial Management Solution as well as a recent Gartner study naming NetSuite as the fastest growing financial management systems vendor in the world. NetSuite OneWorld 2011 again raises the bar for high-end ERP solutions by addressing user requests, improving performance and introducing sophisticated new features.
“Global enterprises like Qualcomm and Groupon are running on the NetSuite cloud. NetSuite OneWorld is already the premiere solution for large or fast growing worldwide enterprises,” said Gary Wiessinger, Vice President of Product Management at NetSuite. “NetSuite OneWorld 2011 provides yet another reason for the largest multinational enterprises to cast off the costly aging on-premise software and embrace the cloud, and gain the transformative efficiency and transparency already enjoyed by over 10,000 companies and subsidiaries.”
“The advanced features in NetSuite OneWorld 2011 allow us to further drive the efficiency, speed and control of our financial process across our international operations,” said Marc Morin, Corporate Controller at Case-Mate. “By running in the cloud we’re able to get new global enterprise management ERP capabilities automatically, enabling us to continually improve our business performance and productivity, without the upgrade headaches and cost of legacy on-premise software.”
NetSuite OneWorld 2011 introduces numerous new enhancements, including:
- Broader international business management—NetSuite further consolidates its leadership as the go-to cloud ERP for international companies with the expansion of tax reporting to over 40 countries across the globe including Belgium, Chile, Colombia, France, Ireland, Norway, Peru, Romania, and Uruguay. Unlike other systems that are so manually intensive and require complex tasks just to analyze the output, NetSuite’s tax reporting is easy to use and automated for each country, saving companies valuable hours each month and providing accurate data at their fingertips. Additional tax audit compliance support is provided by enabling GL data to be provided in SAF-T for countries in the European Union, IAF for Singapore, or CSV. New native language support in Dutch and French Canadian brings NetSuite’s deep, localized language support to a total of 17 languages and dialects.
- Powerful new global financial consolidation and management features—As part of NetSuite OneWorld’s easy to use month-end close work-list, NetSuite OneWorld automates inter-company eliminations, while providing real-time, self-service drill down to see the elimination journal entry lines posted to intercompany accounts. The new enhanced period close feature enables locking of accounting modules on a subsidiary-by-subsidiary basis, further improving controls and accountability during monthly and annual closing.
- Advanced back-office ERP capabilities—NetSuite extends its lead as the cloud solution of choice for manufacturing and wholesale distribution companies with the new Standard Costing functionality that makes it easy for them to identify cost saving opportunities both in the production and procurement process. In addition, new vendor bill approval routing enables companies to reconcile vendor invoices with issued purchase orders reducing the risk of over-billing, while flexibly enhancing controls. NetSuite’s new Fixed Asset Management tracks an asset’s complete lifecycle, from acquisition to depreciation and retirement, while combining with NetSuite’s powerful reporting engine to enable on-demand analytics and reporting on fixed assets across locations, subsidiaries, asset types, and much more.
- Real-time multi-dimensional analytics—With the introduction of slice and dice Pivot analytics, NetSuite combines the power of its breadth data across front-office and back-office with real-time OLAP style analytics. Decision makers can easily analyze every business dimension and metric, and share the results without having to take the data offline into Excel, enabling faster decisions, and eliminating risky versions of the truth.
- Enhanced CRM—NetSuite’s new Product Affinity analytics drive more effective data for upsell campaigns by providing insights into correlations between products typically purchased together. New sales activity management features provide instant insight and reporting on the latest activity between customer or prospects and their sales to eliminate the risk of anyone dropping the ball, and maximize customer touch.
- SuiteCloud platform support for the latest web development standards—NetSuite’s SuiteCloud platform provides customers and partners with the latest web development standards by supporting the ubiquitous REST API, making it even easier to build integrated mobile applications and website-to-NetSuite integration.
Today, more than 10,000 companies and subsidiaries depend on NetSuite to run complex, mission-critical business processes globally in the cloud. Since its inception in 1998, NetSuite has established itself as the leading provider of enterprise-class cloud ERP solutions for divisions of large enterprises and mid-sized organizations seeking to upgrade their antiquated client/server ERP systems. As the leading provider of cloud-based business solutions, NetSuite excels at streamlining business operations. As demonstrated by the 2011 CODiE Award for Best Financial Management Solution, as well as a recent Gartner study naming NetSuite as the fastest growing financial management systems vendor in the world, NetSuite has continued its success in delivering the best cloud business solutions to businesses around the world, enabling them to lower IT costs significantly while increasing productivity, as the global adoption of the cloud is accelerating.