Intercompany Management in NetSuite

Introduction to Intercompany solution

As your company grows and acquires new subsidiaries to support international expansion, managing intercompany transactions becomes increasingly complex. Managing these transactions, especially when it comes to recharging and transfer pricing, can be time and resource demainding.

If the standard intercompany processes in NetSuite feel overly complex or fall short of your needs, Novutech’s Intercompany Solution is here to help. Designed to streamline and optimize intercompany workflows, this accelerator ensures seamless operations across all your subsidiaries.

Intercompany objectives

Many businesses need a simple, ready-to-use solution to create intercompany transactions with automatic mirroring between relevant subsidiaries. Manual processes can be slow and error-prone, leading to inefficiencies.

Novutech’s Intercompany solution addresses these challenges by providing:

• Automation: Eliminate the need to initiate transactions from Purchase Orders or Sales Orders.
• Efficiency: Simplify intercompany workflows to save time and reduce errors.
• Customization: Tailor the solution to fit your specific business operations.

Key features of the Intercompany solution

• Intercompany transactions
  • Easily create or import data to generate intercompany invoices and corresponding vendor bills, speeding up chargeback and re-invoicing processes.
• Mirroring invoices and bills
  • Automatically create corresponding vendor bills when intercompany invoices are generated, and vice versa, ensuring consistency.
• Reconciliation reports
  • Generate comprehensive reports to track and reconcile intercompany transactions across subsidiaries.‍
• Custom journal entries
  • ‍Compatible with Zone Reconciliation to manage intercompany postings without relying on Advanced Intercompany Journal Entries.

How we implement the Intercompany solution

Our consultant will gather a list of requirements during the qualification call to fully understand your business needs. Following the initial configuration, we conduct a training session to empower your users to thoroughly test the setup. Based on your feedback, we fine-tune the configuration and deploy it to the production environment on the agreed date.

• Fixed implementation fee
• Recurring annual fee
• Implemented within few days (based on your availability)

Customer reviews

Here’s what our clients have to say about the Intercompany Solution:

• "Easy and straightforward to use."
• "Significantly speeds up the intercompany chargeback process."
• "Fills a critical gap in NetSuite functionality."
• "Streamlines our intercompany workflows seamlessly."

Simplify your Intercompany transactions today!

Ready to take control of your intercompany processes and streamline your operations? Contact Novutech today to learn more about how our Intercompany Solution can transform your NetSuite workflows.