NetSuite OneWorld Review
As a cloud solution, NetSuite OneWorld is easy and quick to deploy. Compared to other ERP systems, you can deploy NetSuite OneWorld in 90% less time. With NetSuite OneWorld, you have anytime, anywhere access that supports all users on the go, no matter where they are. NetSuite OneWorld also provides real-time access to organizations that have global services pools and multi-currency, subsidiary, taxation, and language requirements.
Over 16,000 midsized and high-growth companies, as well as divisions of large enterprises, use NetSuite to run their business. NetSuite’s ERP software is also applicable to any industry type. Their customers range from insurance providers to retail restaurant chains to online retailers, demonstrating the flexibility of their solution.
Prudential, Jollibee, Guitar Center, Intuitive Surgical, Hamamatsu, Sara Lee, Fusion UV Systems Inc.
Customer Success Stories
About NetSuite OneWorld
NetSuite was founded in 1998 and has its headquarters in San Mateo, CA — right in the heart of Silicon Valley. Its nine offices span the globe, with locations in Europe, Canada, Australia, and Asia. Gartner named NetSuite one of the top 10 the fastest growing financial management solution, and they’ve received four CODiE Awards from the Software and Information Industry Association in the past two years.
NetSuite OneWorld is an on-demand business software system that delivers real-time business-wide management and global financial consolidation tools for mid-sized companies that have multi-subsidiary and multinational operations. With NetSuite OneWorld, you can supervise companies with various subsidiaries, legal entities, and business units—all from one NetSuite account.
NetSuite OneWorld gives employees all over the world the functionality, tools, and information they need in order to manage their whole business better and easier, all while streamlining operations. NetSuite OneWorld handles different taxation rules, currencies, and reporting requirements—all at a small portion of the usual cost of on-premise ERP solutions. It is an all encompassing system that includes both ERP and CRM functionality, tailored for your specific business needs.
NetSuite OneWorld Key Features
Global Accounting/ERP Software
- Multi-currency business consolidation of financials.
- Multiple levels of consolidated reporting displayed on dashboards
- Documented consolidation rates: Average (P&L), and current or historical (for Balance Sheet) rates on an account specific basis.
- Automatically calculated Currency Translation Adjustments.
- Users have ability to look back at any historical period and see the details related to consolidation and CTA entries.
- Faster time to close.
- Inter-entity and local entity reporting.
- Automated revenue recognition management.
- Tight internal controls and easy-to-follow audit trails.
- Multi-national compliance.
- Multi-currency management and roll-up in order management, quota management, forecasting, and commissions.
- Multi-currency consolidation support, keeping historical currency rates to ensure the accuracy of sales data including:
- the local currency conversion rate.
- the rates used to determine roll-up into corporate currency.
- the rates used at the time an order is placed, or the commission payout is made.
- Currency rate automatically refreshes as rates change.
- Multi-currency forecast roll-up within and across multi-national sales entities.
- Exchange rates updated automatically.
- Global dashboards provide accurate, real-time roll-up of country-by-country business activity and results with full drill-down capabilities to the underlying records.
- Global currency management gives sales reps and management visibility into their quota, orders, forecast, and commission metrics in the correct currency in their dashboards.
- Manage external partners with global partner management.
- Multi-language support for users and transactions.
- Global Tax Engine for managing multiple tax types.
- Comprehensive campaign management and execution.
- Campaign Measurement by country or geography, allowing you to optimize marketing program spend across your organization.
- Lead routing across subsidiaries.
- Visibility into key support metrics by region and country.
- Measure your customer service reps’ effectiveness.
- Multi-language customer portals.
- One global view of customer profiles and any support issues.
- Global visibility and account management.
- Dashboards and reporting for real-time decision support.
- Multiple customer-billing options.
- Country-specific web stores and web sites.
- Sales roll-up for global visibility and reporting.
- One NetSuite account for all sites.
- Sell in multiple currencies or set a default currency per store.
- Shoppers can switch between currencies using a drop-down menu.
- Local sales tax is automatically handled for multiple regions.
- 12 languages fully supported.
- Everything is translatable into a nearly unlimited number of languages.
- Shoppers can select their language of choice from a drop-down menu, and the entire website will be translated into that language.
- Real-Time Credit Card Processing with the Payment Card Industry Data Security Standards (PCI DSS) compliance.
Global Services Resource Planning
- Global dashboards and reports combine operational and financial drivers for projects, geographies, and subsidiaries.
- Match the best resources for the project based on experience, skills, and availability.
- Accelerate financial close and reduce financial risk through granular revenue recognition management.
- Robust time-and-expense entry system that has both mobile and “offline” capabilities.
- Customize the approval management process by client and project, and use electronic routing for line, multi-level or project-based approvals.
- Manage and analyze project finances from bid preparation and time-and-expense tracking through client billing systems and internal charge-backs.
- Manage, bill, and recognize revenue for projects across multiple currencies and tax jurisdictions.
- NetSuite OneWorld SRP mobile access— 100% web-based on-demand solution.
Global Business Intelligence
- Country-specific, local, and global dashboards for worldwide analytics and business intelligence.
- Drill-down locally across the globe to sales or accounting transactions, inventory carried, customer history, or employee records.
- Measure accuracy of global trends and sales forecasts over time against actual revenues and quotas.
- Decision support capabilities for all employees, appropriate for their roles.
- Complete currency conversion.
- Standard, ad-hoc, and custom reports.
- Bottom-up and top-down planning with “what-if” financial modeling functionality using the NetSuite Financial Planning module.
- ODBC connectivity to BI Package of choice, including Business Objects, Hyperion, FrX, and more.
NetSuite OneWorld Screenshots
- Multi-National Enterprise Support
- On-Demand/Cloud Solution
- All-in-one Enterprise Management
- $10K/year minimum to subscribe to NetSuite solutions.
- Users report unhappiness with NetSuite’s support.
- Strong ERP features, but could use more fleshing out in the CRM module.
- Lacks Manufacturing/Supply Chain/Logistics ERP features.
NetSuite OneWorld is for mid-sized companies that have multi-subsidiary and multinational operations, and it can be configured to manage all of your legal entities and business units from one NetSuite account.
OneWorld rolls up multi-currency forecasts across multi-national sales organizations, permitting sales staff to manage orders and forecasts against quota in their local currency, while providing headquarters consolidated figures in the base currency. Similarly, dashboards can display roll-ups of country specific business activities and results with full drill-down capabilities to the underlying records. OneWorld is a powerful module that is particularly well suited to global and multi-national businesses.
However, though you save money on overhead, support costs for NetSuite solutions is pretty high since they only take on customers who will spend at least $10K/year. Additionally, users often report dissatisfaction with NetSuite’s support services. As far as the solution itself goes, it’s strong in financial consolidation and project management, but somewhat lacking in its CRM module. If you’re a manufacturer/distributor, you’ll have to add the modules you need for manufacturing, distribution, and supply chain/logistics.
In any case, if your organization is relatively large, has multiple subsidiaries, and is shopping around for a tier 2 cloud system, then NetSuite OneWorld is a pretty good cloud alternative to legacy systems like Oracle or SAP.
NetSuite OneWorld Videos
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White Papers and Demos
White Paper provided by NetSuite
Sales benchmarking represents a source of sustained competitive advantage for corporations today. The second largest cost item on a company's financial statement is SG&A expense which typically represents 30%-40% of revenue.
White Paper provided by NetSuite
This white paper reviews the issues and the solutions for the multi-organizational enterprise to manage both its sales and financial components, including requirements for addressing differing currencies, taxation rules and local and consolidated reporting.
White Paper provided by NetSuite
Overcoming the barriers of stand-alone business applications is a major challenge to growth for companies worldwide. Learn how an expanding organization can better gain control of its business operations and increase productivity through integrating its core business management processes.
What Others Say About NetSuite OneWorld
- NetSuite OneWorld – ERP Reviews
“NetSuite OneWorld is the first and only on-demand business system that delivers real-time global business management and financial consolidation…”
- WineMarket doubles sales thanks to Cloud – ComputerWorld.com
“NetSuite’s full automation of sales, distribution channels and financials…means we can manage business growth as it comes, and easily handle steep sales spikes when we run special promotions…”
- NetSuite OneWorld Reduces Time and Cost of ERP Deployment for TransACT
“After closely reviewing NetSuite’s capabilities, we realised that cloud-based NetSuite OneWorld was a good fit for us…”