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NetSuite announces new advancements in NetSuite OneWorld

Product Innovation Expands NetSuite Business Cloud into More than 100 Countries

New Release Brings Transformative Power and Agility to Global Businesses of All Sizes

LONDON—6 October 2015—NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based financials / ERP and omnichannel commerce software suites, today announced the latest product enhancements to NetSuite OneWorld, continuing its lead in delivering transformative power to global businesses of all sizes with any business model (B2B, B2C and B2Anything), giving them the agility and flexibility to adapt to the rapidly changing world of modern business. The new release expands support for the NetSuite Business Cloud into more than 100 countries, 19 languages and 190 currencies, and provides tax-compliance management in 100 countries as well as a myriad of ‘first and only’ features, such as omnichannel order management and multi-location inventory management. These features give today’s businesses the ability to transform their operations and reinvent their business models to meet the ever changing needs of their customers. What NetSuite OneWorld provides cannot be matched by legacy on-premise software or immature cloud solutions that are years behind NetSuite and offer only rudimentary functionality.

Businesses seeking to enter new markets, manage mergers, acquisitions and divestitures, and fast-growing companies looking to expand globally often find themselves held back by software systems siloed by department, geography or legal entity structures, that leave them unable to deliver an optimal customer experience and gain insights into their operations. These disparate software systems not only cannot scale with business growth but also introduce excessive costs and potential errors while restricting business agility and the ability to respond to changing markets and the needs of their customers. While on-premise software requires costly maintenance and disrupts the business with every product upgrade, forcing businesses into version lock, other available cloud financial software only offers basic product functionality that cannot scale and support business needs and growth.

NetSuite OneWorld is the Cloud Business Platform of Choice for Global Companies

NetSuite OneWorld, winner of the 2015 SIIA CODiE Award for Best Financial Management Solution and the 2015 UK Cloud Award for ERP Product of the Year, provides a unified and cloud-based suite of software flexible enough to meet the needs of diverse business models, legal structures and geographies. New customers like Misys are turning to NetSuite for advanced capabilities to manage subsidiaries, tax compliance and currencies across 70 countries, while food delivery pioneer Deliveroo is using the NetSuite Business Cloud to manage inventory across multiple locations.

“While other software vendors are struggling to move software architected before the Internet to the cloud or build out the rich global functionality NetSuite has pioneered, we’re continuing to innovate with new features that allow global businesses to expand their operations and adapt rapidly on a business platform for the future,” said Craig Sullivan, Senior Vice President of Enterprise and International Products for NetSuite. “NetSuite’s momentum in helping enterprise customers like Misys and WHSmith across Europe and the globe are a clear indication of the comprehensive functionality of OneWorld.”

NetSuite OneWorld Delivers Product Innovations, Agility, Flexibility and Scalability

The new release of NetSuite OneWorld brings many industry ‘firsts and onlys’ to global businesses, including:

Omni-business model. Able to support B2B, B2C and B2Anything, across ecommerce, in-store, telesales, social channels and more, NetSuite OneWorld gives businesses the flexibility and agility to adapt to the speed of modern business while operating on a global scale.

Omnichannel order management. No matter where an order comes in from, ecommerce, telesales, social or elsewhere, NetSuite OneWorld provides intelligent, rules-based automation to optimise shipping across a wide range of variables including: fulfilment decisions based on customer location; availability in warehouse locations closest to the customer; customer preferences for receiving all items together or separately; speed at which an item could be fulfiled by a given location; and expected shipping time and delivery date.

Comprehensive tax compliance. NetSuite OneWorld’s global tax engine now supports more than 100 countries with simple-to-deploy indirect tax calculation and reporting capabilities, materially simplifying tax management, tax compliance and filing and audit accountability. NetSuite OneWorld’s global tax is a key capability for supporting omnichannel, omni-country business operations, taking into account where businesses are shipping from and where they are shipping to in order to calculate the correct tax for the correct jurisdiction for a given transaction. Within the EU, NetSuite Global Tax also handles triangulation reporting requirements for business engagements that span three countries or more.

Multi-location inventory management. Whether businesses have one retail store with multiple sub-locations or hundreds of stores and regional distribution centres throughout Europe, multi-location inventory enables them to keep track of and optimise the physical location of goods to meet the evolving needs of the customer.

Multi-currency management. NetSuite OneWorld now supports more than 190 currencies (including BitCoin) and, in conjunction with global order management, enables businesses to transact with any customer, anywhere.

Multi-book accounting. NetSuite OneWorld’s multi-book capabilities automate the manual effort of ensuring accounting transactions meet local standards as well as global reporting requirements and empower controllers to manage their local period close reporting requirements with per book period end close.

Multi-language support. Global companies can communicate with customers and employees in the language of their choice by: creating localised forms to communicate order status, shipment notification, invoice details, and match them to the language of the customer; issue purchase orders to vendors in the preferred language of the business relationship; and represent the business to customers as a local business with translated websites and web stores and email communications.

Support for multi-payment methods. NetSuite’s SuitePayments Program now counts 10 partners, while NetSuite supports electronic payments in 80 different formats across dozens of countries. Additionally, the Alternate Payment Methods API enables any payment type for any country—from bank transfers to gift cards.

Global Item Record. With NetSuite OneWorld’s unified system, businesses have a single view of their product inventory with real-time visibility into availability by location enabling them to make optimisation decisions to ensure the right amount of inventory is always available where it is needed.

Global Customer Record. NetSuite’s unified system also provides a single view of the customer relationship across all channels, including purchase history, marketing engagement activity, after-sales interactions, cross-sell/upsell recommendations and more to provide a truly personalised customer experience.

Global Vendor Record. In conjunction with NetSuite OneWorld’s procurement capabilities, businesses not only have a unified view of their vendor relationships across all subsidiaries and locations but they can also automate the process of selecting vendors for particular procurement needs based on pre-negotiated prices, reliability and other criteria particular to their business.

Omni-device capabilities. With support for Apple and Android devices, and accessible from anywhere with a web browser and an Internet connection, NetSuite enables customers to run their business from their desk, tablet or phone and engage with customers on the device of their choice.

Today, more than 24,000 companies and subsidiaries depend on NetSuite to run complex, mission-critical business processes globally in the cloud. Since its inception in 1998, NetSuite has established itself as the leading provider of enterprise-ready cloud business management suites of enterprise resource planning (ERP), customer relationship management (CRM), and ecommerce applications for businesses of all sizes. Many FORTUNE 100 companies rely on NetSuite to accelerate innovation and business transformation. NetSuite continues its success in delivering the best cloud business management suites to businesses around the world, enabling them to lower IT costs significantly while increasing productivity, as the global adoption of the cloud accelerates.

 

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For more information about NetSuite please visit www.netsuite.com.sg.

NOTE: NetSuite and the NetSuite logo are service marks of NetSuite Inc. Third-party trademarks mentioned are the property of their respective owners.

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