The unique power of NetSuite OneWorld is fueling NetSuite's global growth. According to a market share report published in April 2010 by Gartner, NetSuite grew market share faster than any other ERP vendor, amongst top 10 financial management solutions across North America, and key markets in Europe and APAC. Between 2007 and 2009, NetSuite grew market share by more than 80% in North America, more than 88% in the UK and more than 83% in Australia. By comparison, in the same period, in each of these countries, SAP was stricken by declining market share.
"NetSuite OneWorld has shattered the myth that complex processes can't be run in the cloud. Companies are using OneWorld to run their most complex processes around the world with an ease that has to be seen to be believed," said Zach Nelson, CEO of NetSuite. "And not only is it easy to run a global company with OneWorld, the solution is fast and easy to deploy. Most of our customers are live in three to six months, as contrasted with the years that it takes to roll-out traditional non-cloud software offerings."
"We have been able to switch several full-time employees to a true analyst role," said Nestor Zwyhun, chief technology officer at TradeCard, an international supply chain collaboration platform for brands, retailers and their trading partners, and based in New York, NY. "NetSuite OneWorld seamlessly integrates the general ledgers of our five international subsidiaries, each with its own currency. It is a huge improvement in visibility and SOX compliance to have our books on a single system now."
This latest version of NetSuite OneWorld incorporates a number of leading features, including:
- Enhanced Global Inventory Management Eases Fulfillment '” NetSuite OneWorld 2010 introduces sophisticated inventory management for businesses with the most complex subsidiary structures, making it easy to transfer inventory between any subsidiary anytime, anywhere '” through just a web browser. It introduces a new easy-to-use multi-step inventory fulfillment approach for moving items between subsidiaries, and enables global businesses to easily track the price of products moved between subsidiaries.
- Simplified Tax Reporting in More Countries Than Ever '” Businesses with local operations that straddle multiple tax boundaries gain even more comprehensive automated country specific tax reporting and automated tax calculation with NetSuite OneWorld 2010 and deeper support for German, Netherlands, Australian, New Zealand, Canadian, and Philippine Taxes.
- Multi-National Accounting Standards Compliance in Europe '” Global cloud computing momentum and adoption increases the importance of compliance with global accounting standards, and NetSuite OneWorld 2010 rises to the challenge. NetSuite OneWorld is now certified for Austria and Switzerland accounting standards, after passing a stringent audit process conducted by IT Audit, independent software auditors. Certification against Austrian and Swiss accounting standards complements NetSuite's existing certifications against German accounting standards (German Auditing Standard PS 880), accreditation in the UK by the Institute of Chartered Accountants in England and Wales, and support for Japanese accounting standards.
- Expanded Global Currency Options '” NetSuite OneWorld Version 2010 provides even deeper support for multiple currencies than ever before, with flexible foreign currency amortisation, enabling greater control over the revaluation of amortised foreign denominated balances.
- Integration with Google's Cloud Productivity Suite '” NetSuite OneWorld now integrates with the world's #1 cloud productivity suite '” Google Apps. This presents businesses with the tantalising opportunity to take their entire business to the cloud, offering tremendous savings and usability advantages, particularly for remote subsidiaries. NetSuite incorporates Google OpenID's trusted authentication system, and NetSuite administrators can control OpenID access via role-based permissions. Complementary partner applications extend this native cloud-to-cloud integration to provide deep integration between NetSuite and Google Calendar, Gmail and other components of Google Apps.
- Advanced User Interface '” NetSuite OneWorld Version 2010 introduces a cutting edge streamlined user experience, enabling users to become productive more quickly. The new, streamlined look and feel and simplified navigation make common tasks easy and require fewer clicks. It starkly contrasts with legacy ERP systems which employ aging interfaces from the pre-Internet era. The ease of use advantages of NetSuite OneWorld 2010 translate to a substantial productivity competitive advantage for global businesses.
For more information about NetSuite, please visit www.netsuite.com.
NOTE: NetSuite and the NetSuite logo are registered service marks of NetSuite Inc.
For further information please contact:
Dawn D'Cotta NetSuite 02 9464 6155
Shuna Boyd BoydPR 02 9418 8100
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