NetSuite OneWorld: Manage Your World Business with One PlatformSyah Ismail
In today’s business world, expansion is critical to make sure your company stays ahead of the pack. It opens up your business to new markets as well as a lot of headaches especially if you’re expanding into a foreign country. Apart from the language barrier, a company expanding into another country will have to consider the differences in currency and tax regulations.
NetSuite OneWorld is a solution that will take care all of that for you. It is a global business management platform that helps multinational companies streamline multi-subsidiary operations and provides real-time visibility at the local, regional and headquarter levels. NetSuite OneWorld delivers a real-time global business insight via role-based dashboards, 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 also delivers global end-to-end solution to meet critical and time-consuming regulatory financial compliance requirements.
It is different from the NetSuite Standard edition. The Standard edition is in the middle in terms of price and functionality. In other words, it falls between CRM and OneWorld. The Standard edition includes strong financials, inventory management and everything that comes with the CRM edition. The only real limitation of the Standard edition is that it can’t be used by companies with multiple subsidiaries. NetSuite OneWorld is the largest edition. It includes all of the functionality available in the CRM edition as well as the standard edition and it’s the best choice for companies with multiple subsidiaries and multinational entities.
Recently, NetSuite OneWorld was awarded ‘Cloud ERP Product of the Year’ at the UK cloud award. The Cloud ERP Product of the Year was judged on the level of innovation in the recent product releases which is scheduled twice a year. Because NetSuite is a true cloud product, every user gets access to the new functionality right away. No need for painful upgrades or re-implementations.
Lucy Locket, a small family-owned B2C and B2B merchant of children’s costumes and accessories has expanded across three continents to become a global, omnichannel commerce business, all run on NetSuite OneWorld, from the UK. ROLI, a music technology innovator and maker of the award-winning Seaboard instrument, has implemented NetSuite OneWorld to manage critical business processes including financials, inventory management, order management, CRM, multi-currency management for the British pound, Euro and US dollar, and multi-subsidiary management for three subsidiaries in the UK and two in the US. As a result of its implementation of NetSuite OneWorld in September 2016, ROLI is better positioned to take advantage of rapid sales growth as innovative products like the Seaboard Block and Lightpad Block become more popular to music-makers.
So, no matter how big or small your business is, NetSuite OneWorld can handle all of your company’s international transactions and operations and book them to different subsidiaries. PointStar provides comprehensive, end-to-end cloud services including NetSuite OneWorld to help our clients select, adopt, implement, customise and manage their cloud solutions. Our team is certified as a Practising Management Consultant (PMC) and works with numerous Singapore Government agencies such as SPRING, IE Singapore, and IMDA amongst others to help ‘digitally transform’ Singapore-based business to be more ready for the future through the cloud platform.
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