NETSUITE GOES GLOBAL WITH FIVE NEW LANGUAGE VERSIONS, Customisable TAX ENGINE
NetSuite Available in Traditional Chinese, Japanese, Spanish, German and French, for International Businesses
SAN MATEO, Calif. and LONDON—October 27, 2005—NetSuite, Inc., the leader in on-demand business management software for small and mid-sized businesses, today unveiled a set of translation and multi-language capabilities to accommodate the needs of businesses with employees and customers in multiple countries. Languages available in this release are Traditional Chinese, Japanese, Spanish, German and French with Simplified Chinese to be available before year end. As importantly, NetSuite introduced a new, flexible tax engine and corresponding financial reporting capabilities to allow businesses to configure NetSuite applications for local and international financial reporting standards (IFRS), as well as unique local tax requirements, for compliance in any country. For more information about the NetSuite multi-language, multi-tax capabilities, please visit www.netsuite.com/multi.
Businesses of all sizes are benefiting from the ability to establish operations around the globe for maximum cost efficiency and business advantage. NetSuite's architecture as an Internet based integrated business application has always allowed organisations to run their business from anywhere on the globe. In addition, NetSuite has long had the ability to transact business in any currency, including website transactions. With these new language capabilities, businesses can now support their workers and customers in their local language. The new tax capabilities also give organisations the capability to address local sales and statutory requirements, the first for an on-demand application. Other key benefits of the new features include:
- For the first time, users of NetSuite can select from the available languages to view the user interface. Upon selection, all the navigation menus, task links, field labels, buttons and other user interface elements are instantly refreshed in their selected language. NetSuite maintains the integrity of data entered in the NetSuite account by displaying it in the language it was entered. In addition, NetSuite now supports full UTF-8 character encoding to support the entry, storage and presentation of data entered in any language supported by the UTF-8 standard.
- Businesses trading with overseas customers or any customer whose preferred language is other than English can now enter item names and descriptions in any language they define and display them on sales transactions and printed documents instead of the default ones. The translated descriptions can either be maintained individually on the item record itself or via a mass update page for quick and easy editing. The new multi-language capability and NetSuite's existing custom forms combined enable businesses to present their customers with completely translated and localized documents, including quotes, sales orders, and invoices.
- The ability to handle transactions in multiple currencies and accept credit or debit card payments either via direct entry or the Web store, automatic currency revaluation calculation and foreign-currency bank accounts allows NetSuite to be used as the platform for businesses' complete international presence.
- Tracking and reporting on the various taxes encountered by businesses operating internationally is made easy by NetSuite's flexible tax engine allowing multiple tax types and tax codes with individual control accounts for general ledger postings.
"With these new capabilities, small and medium enterprises (SMEs) now have a cost-effective means of growing their business internationally on the NetSuite platform, ensuring they have clear, real-time visibility of the company's activities worldwide from wherever they may be," said Craig Sullivan, Director of International Products at NetSuite. "This latest extension of our unique 'One System, No Limits' philosophy allows businesses of all sizes to adopt NetSuite as their primary business management system secure in the knowledge that it can support their ambitions for global leadership now or in the future."