The EU Referendum result this morning is for the UK to leave the European Union. Business people in the UK and around the world will be understandably nervous about the environment in which they now find themselves operating. While the uncertainty that this decision generates in the short term is guaranteed to unsettle markets, NetSuite customers can at least be secure in the knowledge that their cloud ERP was designed to adapt to change and to empower them to react to new opportunities.
Even though the decision to leave the EU has been made today, (for ‘Brexit’ in the popular jargon) there is much that needs to be done to implement that decision across many aspects of the fabric of the UK, and changes in the business environment will likely occur fairly slowly. There will be a period of time – probably up to two years - where the UK will remain part of the EU while it negotiates its exit and further trade deals. It could even be that this period will be extended.
However, inevitably there will be changes in terms of business regulations, taxation and reporting regimes. These are extremely hard to predict, but we should expect them. As always in times of change, there will continue to be new opportunities – and challenges – for businesses to respond to.
The good news for NetSuite users is that such changes are routine for them. Changes in business regulation and taxation are a constant theme here and around the world. And if reforms require a tweak to the system, you can be sure that NetSuite will make them compliant without disruption.
Should changes in rules or laws have wider impacts down the line, NetSuite will respond accordingly. As the world’s fastest growing Financial Management System and the number one cloud ERP vendor, NetSuite will continue to invest to ensure that its customers can thrive whatever the future holds.