Microelectronics Industry Association SEMI Streamlines Global Operations with NetSuite OneWorld


SEMI

Company

SEMI

Location

San Jose, Calif.

Industry

Nonprofit

Applications Replaced

Intacct


"Our visibility is much better. NetSuite makes it easier to make better decisions, and you can see the outcome of decisions faster." SEMI

Customer Success

  • NetSuite is enabling new global visibility and speed for Semiconductor Equipment and Materials International (SEMI), the not-for-profit industry association for suppliers in the micro- and nano-electronics industries.
  • With NetSuite OneWorld, SEMI is gaining real-time, on-demand visibility into subsidiary financials and dramatically simplifying global financial consolidation.
  • Multi-currency conversion capabilities in OneWorld power transactions in the Euro and the currencies of Japan, China, Korea, Russia and India.
  • Monthly financial close times have been reduced from seven to four days with simplified consolidation and superior reporting capabilities.
  • With the NetSuite Fixed Assets module, the time required to generate summaries of physical property has been reduced from several hours to less than an hour.
  • Greater administrative and operational efficiency helps SEMI provide enhanced service to 1,900 member companies around the world through trade shows, conferences, market research, standards development and online resources.
  • Moving from manual to automated processes, the SEMI finance office is able to provide more strategic value to drive organizational direction and growth.
  • SEMI has better budgeting, planning and forecasting capabilities with NetSuite Financial Planning, powered by OEM software from NetSuite partner Adaptive Insights.
  • SEMI has improved expense reporting and approvals efficiency, especially with NetSuite capabilities for documentation to be attached to reports.
  • NetSuite OneWorld global business solution is being expanded beyond the U.S. and Singapore to subsidiaries in China, South Korea, Japan, Taiwan, India, Germany, Belgium, France and Russia.

Challenges

  • NetSuite was viewed as an ideal cloud solution for a large global organization to function seamlessly in a standardized, on-demand environment across North America, Europe and Asia.
  • With some support from NetSuite Professional Services, SEMI personnel were able to self-implement the NetSuite solution, going live in January 2013.

Solution

  • The NetSuite.org corporate citizenship program and unified cloud business solution were ideal and met MEST's need for low-cost, high-performance business software.
  • NetSuite.org also supplied free and discounted software to many of the 14 MEST-based incubator startups, giving these organizations a scalable platform for success.
  • In concert with the school's use of NetSuite, the Meltwater Group has also implemented NetSuite in many areas of its global business.

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