Oracle NetSuite Corporate Communications
Toll Deploys NetSuite OneWorld for Global Business Management from Financial Consolidation Across Asian Operations, Fixed Assets, Multi-Currency, Multi-Language to Business Intelligence
Sydney, Australia—29 October 2013—NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based financials / ERP and omnichannel commerce software suites, today announced that Toll Group, the Asia Pacific region's leading provider of logistics, has implemented NetSuite OneWorld across 120 seats in its Toll Global Express Asia business. Toll Global Express Asia is one of the Asia Pacific region's fastest growing express delivery services, specializing in the urgent delivery of confidential parcels and documents. Part of Toll Group, Toll Global Express Asia's network spans five continents operating from key hubs including Singapore, Hong Kong, Shanghai, Guangzhou and Beijing.
NetSuite OneWorld replaced multiple applications and manual processes including MYOB accounting software and custom Excel spreadsheets to power Toll Global Express Asia’s core business operations including financial consolidation across multiple Asian markets with multi-currency for six currencies, customer relationship management (CRM) to gain real-time business visibility into its overall Asian market performance.
Toll Implemented NetSuite OneWorld for Its Asian Operations in a Two-Tier Model
The company turned to NetSuite after an extensive review of major on-premise and cloud-based ERP/financial solutions in order to replace the multiple platforms, software and manual business solutions that Toll Global Express Asia inherited through a series of acquisitions across Asia. Toll was previously using MYOB and multiple Excel spreadsheets, which necessitated data entry into three separate systems to invoice customers and produce end of month reports and resulted in inefficiencies and significant time wasted on reconciliation and data re-entry.
"Initially, a cloud-based solution was not the highest priority for us, but we quickly saw that in addition to NetSuite's exceptional functionality, cloud technology would mean we could manage upgrades, expand our operations and remain at the forefront of technology without investing further significant time or capital," said Toll Global Express head of Finance and Commercial, Jey Jeyakumar. "The flexibility and scalability of NetSuite is of great benefit, giving us the power to add new requirements and instantly adapt without the need to engage costly IT staff, when and if our business changes."
By implementing NetSuite OneWorld, Toll Global Express Asia has been able to address the complex multinational and multi-subsidiary challenges that it faced by easily consolidating reporting across multiple markets and currencies with a single solution. It is currently supporting six currencies, Australian dollar, US dollar, Hong Kong dollar, Singapore dollar, Euro and China RMB, allowing real-time visibility and reporting across the enterprise in order to help Toll make better and faster decisions. Toll is also using NetSuite OneWorld to manage its fixed assets, enabling it to maintain and control the complete lifecycle of its depreciated and non-depreciating assets, providing tight integration that weaves asset acquisition into the accounting process and allows for quick reporting on all assets, current valuations, asset types and more.
"We are gaining so much value from NetSuite's reporting, which gives us the ability to view our different regional subsidiaries in an instant," added Mr. Jeyakumar. "Prior to NetSuite, if we needed a consolidated general ledger from our regional HQ in Singapore, for example, someone would have to manually consolidate data into a spreadsheet and then email the data to us. Now this process is completely automated, with information readily available wherever and whenever we need it, and in whichever customizable format required."
NetSuite OneWorld Gives Toll the Power, Agility, Flexibility and Speed It Needs to Get Its Asian Operations Up and Running
Since deploying NetSuite OneWorld, Toll Global Express Asia has unprecedented visibility into its business and has transformed the accuracy, reliability and availability of its data across the region. NetSuite offers a real-time 360-degree view of the customer experience; lead and opportunity management, upsell, renewals and service which has enabled Toll to record links between customers, to invoicing, to items being billed. This has saved associated headcount costs as it is now able to make highly customizable bespoke reports in an instant that would have previously required the expertise of an experienced computer programmer.
"NetSuite gives Toll powerful insights into every aspect of its Asia Pacific organization, despite multiple language, currency, taxation and reporting requirements," said Mark Troselj, managing director of APAC and Japan for NetSuite. "NetSuite OneWorld can give companies like Toll the ability to enable regionally dispersed organizations to seamlessly meet the individual needs of local operations whilst giving a consolidated and real-time view of its entire operations, anytime, anywhere."
Today, more than 16,000 companies and subsidiaries depend on NetSuite to run complex, mission—critical business processes globally in the cloud. Since its inception in 1998, NetSuite has established itself as the leading provider of enterprise-class cloud financials/ERP suites for divisions of large enterprises and mid-sized organizations seeking to upgrade their antiquated client/server ERP systems. NetSuite excels at streamlining business operations as demonstrated in a recent Gartner study naming NetSuite as the fastest growing financial management software vendor on a global basis. NetSuite continues its success in delivering the best cloud ERP/financials suites to businesses around the world, enabling them to lower IT costs significantly while increasing productivity, as the global adoption of the cloud is accelerating.
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