Australia’s #1
Global Cloud ERP

110+ countries
190+ currencies
50+ tax jurisdictions
1 cloud ERP instance

NetSuite OneWorld Global ERP International Capabilities


Businesses that operate on a global scale face the challenges of continuous regulatory change, compliance risk, financial penalties and the burden of more frequent system-based tax audits with ever more complex tax compliance requirements. As the world's #1 cloud-based global ERP, NetSuite OneWorld's international tax and compliance management capabilities helps enterprises with multiple sites and operations around the world to comply and operate effectively. NetSuite global ERP provides a robust foundation for visibility into overall operations, automation, simplicity and controls in the management of your global tax and compliance responsibilities, enabling you to move into new markets with confidence.

Used in more than 110 countries, NetSuite global ERP supports the most widely used languages. NetSuite's 'out-of-the-cloud' comprehensive indirect tax management and reporting capabilities cover over 90% of global Gross Domestic Product (GDP), ensuring your global business software is ready to handle your international footprint wherever your organisation operates.

Benefits

  • Easily expand into new markets with multicurrency, multi-language and multisite capabilities.
  • Minimise risk with support for local accounting regulations and country-level financial and indirect tax reporting.
  • Eliminate errors with automated tax calculations.
  • Rapidly scale with real-time currency conversion and financial consolidation.
  • Optimise your international operations within a single cloud ERP instance.
  • Increase productivity by localising each employee's experience.

Key Features

Indirect Tax Compliance

The management of indirect taxes is a costly overhead however mismanagement of your tax management processes can result in penalties and interest charges.

Around the world, indirect tax requirements continue to change frequently and place an increasing burden on businesses to monitor and report on their compliance responsibilities. In Australia, GST compliance is both complex and time consuming and compliance responsibility is a major hidden cost of business operations.

Deployed by organisations in over 110 countries, NetSuite global ERP provides an end-to-end solution that can help you address these challenges through:

  • Transparency—robust risk management capabilities reduces audit risk with an always-on audit trail, access logs for tax auditors and full drill-down from summary tax forms and reports to underlying transactional data demonstrating the source of calculations.
  • Automation—enables standardised workflow across all international operations with tax calculation occurring as part of standard business processes.
  • Control—validation of data entry based on internal standards and defined configurable approval processes and exception reporting provide confidence in system administration.
  • Simplicity—a single system architecture eliminates re-keying of transactional or tax data, reducing common errors and traceability gaps found in traditional point solutions.

Financial & Accounting Regulations

NetSuite OneWorld global ERP is used in more than 110 countries and includes comprehensive indirect tax management and reporting capabilities to comply with some of the most stringent local accounting regulations. Go global with confidence with NetSuite global erp solution which:

  • Meets accounting regulations across multiple countries including Australia, US, UK, Germany, Japan, Singapore, Hong Kong and more.
  • Is accredited by multiple bodies including the American Institute of CPAs (AICPA, the Institute of Chartered Accountants in England and Wales (ICAEW) and in Singapore by IRAS as complying with GST and Audit Files.
  • Is certified in Germany under IDW AuS 880 and GoBS, Philippines by Philippines Bureau of Internal Revenue, Portugal by DGPC under the Computerised Invoicing software certification (Portugal Decree 363/2010), Japanese J-GAAP compliant and many more.

Configurable Tax Engine

NetSuite OneWorld has a built-in tax engine that is configurable to the unique needs of your organisation. It provides:

  • 'Out-of-the-Cloud' pre-configuration of tax codes and localised reporting for over 50 countries.
  • Flexible indirect tax engine automates calculation of Australian GST, Canadian HST, Mexican IVA, German Mwst, Philippines VAT, and more.
  • Cross-border sales and Intrastat reporting across all 27 EU countries, including online capabilities for many countries.

Comprehensive Currency Management

NetSuite global ERP multi-currency management handles 190+ currencies and exchange rates simplifying the way you do business with both customers and vendors globally. It supports a wide variety of payment options, provides real-time currency conversion and financial consolidation for all your global operations.

Audit and Compliance Reporting

  • Electronic audit is now common practice in many countries for both external auditors and Government tax auditors. NetSuite supports audit files formats for SAF-T (all OECD countries), GDPdU (Germany), IAF for Singapore and many more.
  • Always-on audit trail, built-in analytics, access logs and workflow.
  • Full drill-down from summary reports to underlying transaction detail provides transparency to demonstrate ongoing compliance with local statutory and regulatory requirements.

Payment Processing

NetSuite Electronic Payments simplifies the process of paying your vendor bills and employee expenses, as well as taking payments from customers, across the globe directly from within NetSuite. NetSuite Electronic Payment Processing places the payments or direct debits into each bank's predefined file format ready to import into banking software or submit to the bank online, and reduces time and costs spent on payment processing by eliminating checks, postage and envelopes.

Comprehensive Currency Management

Translated into 19 languages, including Chinese, Japanese, French, Germany and more, NetSuite OneWorld enables each of your employees to select his or her language of choice.