ByIn today’s globalized business landscape, companies of all sizes are expanding internationally to tap into new markets and revenue streams. Managing financials, operations, and compliance across multiple entities in different countries can be extremely complex. That’s where NetSuite OneWorld comes in.
NetSuite OneWorld is a cloud-based global business management suite that enables organizations to manage multi-national and multi-subsidiary operations from a single, unified platform. This powerful yet flexible solution equips companies to streamline global financial consolidation, operational visibility, and compliance adherence without the high costs and hassles of traditional on-premise ERP systems.
In this comprehensive guide, we’ll explore the key capabilities of NetSuite OneWorld and why it’s the preferred choice for modern enterprises going global.
Key Benefits of OneWorld
NetSuite OneWorld delivers a multitude of advantages for global businesses:
- Real-time global financial consolidation – Automate consolidation of financial data from all subsidiaries to produce compliant, auditable financial reports for the parent company. Gain real-time visibility into performance.
- Unified platform across countries – Centrally manage all subsidiaries across countries and currencies from a single dashboard with localized accounting support.
- Built-in multi-currency support – Conduct transactions and reporting in local functional currencies with automatic currency conversion and adjustments.
- Effective compliance management – Meet evolving tax, legal and regulatory mandates in each country you operate in with built-in compliance tools.
- Flexible global entity management – Add or modify global subsidiaries quickly without incurring excess costs and delays typical of legacy systems.
- Supply chain continuity – Coordinate supply chain processes across territories for efficient fulfillment in local or shared distribution hubs.
- Anywhere access – Manage operations from anywhere via the cloud using any device. No need for complex VPN setup.
These capabilities make OneWorld the most effective solution for enterprises that need to efficiently manage multiple subsidiaries, business units and revenue streams across borders while ensuring compliance.
Key Features and Functions
NetSuite OneWorld is packed with features to meet the unique needs of global businesses:
Global Financial Management
- Automated currency conversion and financial consolidation
- Multi-book accounting across Accounting Standards like GAAP and IFRS
- Flexible reporting with support for over 190 currencies and 20 languages
- Auditable trailing transaction histories
Global Supply Chain, Fulfilment and Procurement
- Manage multiple warehouse locations with inventory transfers
- Streamlined global procurement processes
- Landed cost management and customs documentation
Global Customer Relationship Management (CRM)
- 360 degree view of global customer interactions
- Customer, case, and marketing campaign management across subsidiaries
- Multi-currency customer billing and invoicing
Global Commerce and Sites
- Multi-language and translatable websites and webstores
- Tailor pricing, promotions and customer experiences for local markets
- Accept payments from over 100 countries
Global Human Capital Management (HCM)
- Manage global workforce with customizable HR workflows
- Configure roles and permissions across subsidiaries
- Payroll integration and global benefits management
Why Choose NetSuite OneWorld Over Other ERPs?
When selecting a cloud ERP platform for managing global operations, most companies narrow down their choice between SAP Business ByDesign, Oracle NetSuite, and Microsoft Dynamics 365.
While all three are capable systems, NetSuite OneWorld outshines even enterprise-focused SAP ByDesign as the preferred choice for global companies due to these compelling advantages:
Broadest Global Footprint
NetSuite has the most in-depth globalization capabilities supporting over 190 currencies, 20 languages, country-specific tax calculation and reporting, and compliance adherence in over 100 countries.
Proven Scalability
NetSuite powers global operations for organizations with 1,000+ employees across 100+ countries, demonstrating immense scalability.
Faster Implementation
NetSuite OneWorld’s flexible cloud delivery model enables accelerated rollout across multiple subsidiaries compared to on-premise systems. Go live in weeks, not years.
Lower Total Cost
The unified cloud platform approach eliminates the need for multiple disparate systems, on-premise servers and excess IT infrastructure to manage global operations.
Unmatched Customizability
NetSuite allows extensive customization to tailor processes, reporting and integrations to your global business requirements.
In summary, no other solution matches NetSuite OneWorld’s agile and unified approach to managing global business expansion and localization needs for enterprises.
Why Choose Anchor Group for NetSuite Implementation?
When selecting a systems integration partner for your NetSuite OneWorld implementation, choose one with proven expertise across the entire NetSuite portfolio. Anchor Group checks all the boxes:
150+ NetSuite Implementations
Leverage experience gained from deploying NetSuite for 150+ customers across various industries.
Certified NetSuite Consultants
Our NetSuite consultants hold multiple NetSuite certifications affirming deep application knowledge.
Vertical Expertise
We understand the unique needs across manufacturing, wholesale distribution, retail, services and more.
Rapid Results Focus
Our agile implementation process delivers a tailored OneWorld solution fast without compromising quality.
Global Expansion Services
We can support your business growth beyond domestic borders with NetSuite OneWorld rollouts.
Turnkey Services
We offer end-to-end services from advisory and design through deployment, customization and long-term support.
Conclusion
As globalization expands the horizons of enterprise organizations, NetSuite OneWorld enables the harmonization of complex multi-national operations on a unified global cloud platform. Its comprehensive capabilities make OneWorld the gold standard solution for global business management and expansion needs. Paired with Anchor Group’s expertise in unlocking ecommerce growth, it’s a winning combination for ambitious brands aiming higher.
