Microelectronics Industry Association SEMI Streamlines Global Operations with NetSuite OneWorld

SEMI

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

Company at a Glance

Location:
San Jose, Calif.
Industry:
Nonprofit
Applications Replaced:
Intacct

Solutions

NetSuite
NetSuite OneWorld
Financial Planning
Fixed Assets

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:

  • Founded in 1970, SEMI needed robust new capabilities to more efficiently manage its financials and budgeting across a diverse and increasingly complex international landscape.
  • SEMI struggled with manual processes to integrate data between its previous Intacct ERP application and its Adaptive Insights budgeting, planning and forecasting application.
  • SEMI experienced regular problems with the timeliness and quality of customer support from Intacct.

Solution:

  • 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.