Oracle NetSuite Corporate Communications
Midsize Distributor Replaces Sage Accpac and Seven Other Legacy Software Systems with NetSuite OneWorld for Global Business Management Across 12 Countries
Singapore, 30 October 2014—NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based financials / ERP and omnichannel commerce software suites, today announced that leading regional IT security, application delivery network and video communications solutions distributor M.Tech, has deployed NetSuite OneWorld for global business management and financial consolidation, to support its rapid growth throughout Asia Pacific. It replaced multiple on-premise solutions, including Sage Accpac for accounting, multiple Excel spreadsheets for financial management, and five disparate accounting systems across its 18 subsidiaries. More than 560 employees in 30 offices across 12 countries within the region now rely on NetSuite OneWorld to manage its mission-critical business processes, including financials, CRM, HR, inventory management and distribution operations, from a single, cloud-based business management system.
Headquartered in Singapore, M.Tech (www.mtechpro.com) provides onsite sales, marketing and technical support to its reseller partners throughout Asia Pacific. The distributor has experienced rapid growth over the last few years, expanding from approximately 400 employees in 2012 to 575 employees in 2014. As it continues to grow throughout the region, its previous assortment of on-premise solutions can no longer support its business and have led to delays between disparate systems, system unavailability due to connectivity, as well as a lot of manual processes and time loss in gathering critical business information. Because of the individual and un-integrated systems used across subsidiaries, the business previously was not able to provide insights into company data or provide staff with easy working days rotation opportunities, which caused significant backlogs during staff turnover. M.Tech therefore moved to NetSuite OneWorld to better manage its 18 subsidiaries, aligning operations across finance, sales and services, from a single cloud-based ERP system, using its own subsidiary, consulting and solution provider company, M.SaaS Solutions Pte Ltd for the implementation. Further, the flexibility and ease of the customization and personalization features in NetSuite is comprehensively used by M.SaaS Consultants so that M.Tech can still achieve and retain the business's unique processes with additional information, providing the business with a continued cutting edge.
"NetSuite has given us the real-time snapshot of our business that we have always wanted, but previously had to wait some time or spend valuable employee time on creating," said Rayson Lim, Group Financial Controller, M.Tech. He continued, "By automating many of our processes, our staff are now able to focus on value add areas of our business and we have peace of mind that we now have a true 360 degree view of our global business that we can access anytime, anywhere."
NetSuite provides M.Tech with the following key features and benefits:
Global real-time visibility for complex businesses – NetSuite OneWorld enables M.Tech to gain real-time visibility into every aspect of business performance locally, regionally and companywide. It now takes the company significantly less time to produce the consolidated operational reporting that took a month to produce in the past using its previous disparate systems.
Easy roll-out of global subsidiaries – NetSuite OneWorld allows M.Tech to quickly replicate all the core components of its ERP platform for whichever country it opens a subsidiary in and have it up and running via the internet in real-time, all whilst accommodating different currencies, languages, taxation and reporting requirements. With NetSuite OneWorld currently supporting English and Simplified Chinese languages and 12 currencies across its global footprint, M.Tech has peace of mind that additional regional languages and currencies can be added in an instant.
Inventory control and warehouse management – NetSuite's inventory management software gives real-time detailed visibility into key inventory control and supply chain management measures, including inventory trends, stock on order and supplier on-time performance. Prior to deployment, M.Tech had challenges tracking its own stock that was on-loan at multiple client sites. NetSuite now enables users to have instant visibility and real-time insight at the push of a button, enabling stronger control of inventory operations.
Robust tax and compliance capabilities – This enables M.Tech to benefit from compliance with local transaction tax requirements, including out-of-the-box country-specific tax reports and fully detailed audit trails for several of its subsidiary operations.
"After carrying out a competitive review of all major ERP vendors, we realized that cloud-based NetSuite OneWorld was a good fit for us," said Mr. Lim. "Not only was it well suited to meet the needs of our 18 global subsidiaries, it was the fastest way to go live on ERP in multiple countries, which can often take years with an on-premise solution, whereas it took us only 12 months for the entire global rollout, after the trial period of 3 months at head office."
According to Mark Troselj, managing director of APAC and Japan for NetSuite: "Distributors like M.Tech increasingly want greater visibility into their business and their supply chains, to optimize inventory, improve forecasting, increase communication and establish a smoother business flow. NetSuite is the ideal solution to help distribution companies achieve this, by giving them deep, up to the minute visibility of every interaction, transaction and relationship occurring in their business in every market, anywhere in the world."
Today, more than 20,000 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 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 by a recent Gartner study naming NetSuite as the fastest growing top 10 financial management systems vendor in the world. NetSuite continues its success in delivering the best cloud ERP/financial suites to businesses around the world, enabling them to lower IT costs significantly while increasing productivity, as the global adoption of the cloud accelerates.
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