OneWorld

Summary

The solution is perfectly suited to global businesses.
With NetSuite OneWorld, your organisation can streamline multi-subsidiary operations and provide real-time visibility at the local, regional and headquarter level.

On top of that, you can develop standard business processes and deploy them across divisions and subsidiaries, ensuring compliance with standard processes on a global scale. This end-to-end solution meets the required financial standards, such as IFRS, SOX and GAAP.

Finally, you will have access to a real-time overview of your business performance, thanks to the dashboards provided by NetSuite OneWorld.

Features

Global Accounting and Consolidation

NetSuite OneWorld offers a seamless experience for operations and financials by alleviating subsidiary restrictions. You will be able to execute true intercompany transactions and reconciliations, along with a lot of other features.
NetSuite OneWorld provides financial reporting that helps you manage your global business in real time. Moreover, the multi-language user interface allows for a flexible hierarchy and helps bridge communication barriers.

Accounting Hub

NetSuite’s accounting hub makes it possible to handle specific transactions within a business entity and when a company has other subsidiaries that are not using NetSuite.
Data can be imported through a CSV file and can be assigned to the general ledger at transaction level or account level.

Comprehensive Multi-Currency Management

NetSuite multi-currency management offers you the possibility of working with more than 190 currencies and exchange rates. The currency conversion and financial consolidation happens in real time. Moreover, NetSuite OneWorld provides the possibility of managing a complete range of international tax structures, revaluing currencies and consolidating financial reporting across business units.

Audit and Compliance Reporting

NetSuite OneWorld is built to support both global standards and country-specific needs. The audit trail, analytics and access logs will provide you with the necessary supporting documentation. Furthermore, NetSuite works with users, roles and permissions that help you respect the segregation of duties within your organisation.
Personalisation, customizations and developments are an inherent part of NetSuite. Those features happen within a framework that ensures security, scalability and globalisation.

Configurable Tax Engine

NetSuite OneWorld supports more than 100 countries for taxation and reporting, in order to meet the local indirect tax obligations wherever you do business.
SuiteTax provides a scalable and flexible tax determination, calculation and reporting engine, with the goal of supporting any tax rule, anywhere in the world.
With NetSuite OneWorld, you will be able to calculate taxes in real time on both sales and purchase transactions and across countries.

Key Advantages

• Enables the management of multiple subsidiaries, multiple currencies and countries.
• Supports consistent processes across countries and subsidiaries.
• Supports the global compliance of internal and external processes.
• Provides real-time global business insight.