NetSuite gets German audit body OK for software

Zachary Nelson, CEO of NetSuite Inc., speaks at the Reuters Global Technology Summit in New York May 20, 2009.

NEW YORK (Reuters) - NetSuite Inc said on Sunday it has received certification from a member of a German auditing body for its on-demand business management software, which can now be used by companies in Germany.

NetSuite said it got the certification for its NetSuite OneWorld from a member of the German Institute of Auditors, whose members include certified accountants and certified auditors.

Under the certification are components such as a flexible tax engine, audit trail and certain role-based functions that deal with key business data.

The action validates OneWorld's use in German regional units of global companies and those headquartered in Germany, the company said in an e-mailed statement.

OneWorld helps companies and their units operate in a single database environment, and helps with functions such as currency, taxation and languages.

A bulk of the world's large companies typically use either SAP AG or Oracle software.

(Reporting by Aarthi Sivaraman, editing by Maureen Bavdek)