Sunday, February 5, 2023

NetSuite Goes Global on ERP View

SAN FRANCISCO — On-demand software company NetSuite on Wednesday took the wraps off its new global services suite, designed to offer consolidated business management tools for companies with multiple regional or multinational subsidiaries.

NetSuite OneWorld, unveiled Thursday at a launch event here in the city’s financial district, supports customer relationship management (define), accounting, Enterprise Resource Planning (ERP) (define), e-commerce and business intelligence applications.

The offering, an add-on to NetSuite’s One System architecture, is designed to eliminate what CEO Zach Nelson called “the hairball” — the collection of multiple applications that add layers of complexity to an enterprise and kill the chance for real-time analysis.

“You will never solve the problem by having more systems, you will solve the problems with less systems,” he told the crowd gathered here at a launch event in the city’s financial district.

NetSuite targets OneWorld at companies with a global sales reach, making them likely to most acutely feel the difficulties of managing a host of business applications — difficulties that are e compounded when having to handle accounting across divisional or national boundaries.

Built around a dashboard that shows business operations in real time on a national, regional or global perspective, the service also uses a single, consolidated database for all of a company’s global units. It also offers instant currency conversions to aid in accounting across divisional and national boundaries.

As a result, a company’s Japanese business can be viewed in the dashboard in Japanese, with all sales displayed in yen, while another Asian division could look at those numbers in their local currency. If the country is headquartered in the U.S., business would be converted into dollars.

Such calculations are done in real time, with data from all of a company’s global units managed in OneWorld’s single database.

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