NetSuite Delivers NetSuite OneWorld - First Mid-Market Product for Multi-National...

NetSuite Delivers NetSuite OneWorld - First Mid-Market Product for
Multi-National Companies to Manage Front and Back Office Operations in
Real-Time
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.
SOURCE NetSuite Inc.

Mei Li of NetSuite, +1-650-627-1063, meili@netsuite.com