- Overview – Growing regulatory challenges, compliance risk, financial penalties and more frequent system-based tax audits is leading to businesses being burdened with ever more complex tax compliance requirements. As the world’s #1 global cloud ERP, NetSuite OneWorld’s tax and compliance management capabilities provides a robust foundation for transparency, automation, simplicity and controls in the management of your global tax and compliance responsibilities, enabling you to grow your business globally with confidence.
- Translation Capabilities – Translated in 19 languages including Chinese, Japanese, French, German and many more NetSuite OneWorld enables each employee to select his or her language of choice
Supports Company Subdivisions
- Multiple Subdivisions – NetSuite integrates seamlessly into companies with multiple subdivisions that span over various types of verticals including manufacturing, physical products, eCommerce, services and project based services. NetSuite allows you to login to one dashboard for the entire company worldwide instead of broken up pieces of software that don’t interact.
- Multiple eCommerce Brands – NetSuite allows your eCommerce company to integrate your multiple brands and multiple sites smoothly for your own staff and your customers.
- ERP Tax Management – Netsuite’s ERP application has prebuilt tax intelligence to process sales transactions in compliance with proper regulations
- Global Tax Management – Used in over 110 countries with support for the most widely used languages, NetSuite’s ‘out-of-the-cloud’ comprehensive indirect tax management and reporting capabilities cover over 90% of Global Gross Domestic Product (GDP) ensuring your business system is ready to handle your international footprint wherever your company operates.
NetSuite can help you address global tax challenges through:
Transparency—reduces audit risk with an always-on audit trail, access logs for both external and tax auditors and full drill-down from summary tax forms and reports to underlying transactional data demonstrating the source of calculations
Automation—enables standardized workflow across all international operations with tax calculation occurring as part of standard business processes
Control—Validation of data entry based on in internal standards and centrally defined configurable approval processes and exception reporting provide confidence in system administration
Simplicity—single system architecture means no re-keying of transactional or tax data, avoiding common errors and traceability gaps found in traditional point solutions
- Comprehensive Currency Management – NetSuite multi-currency management supports 190+ currencies and exchange rates enabling you to do business with both customers and vendors globally as well as a wide variety of payment options. It provides real-time currency conversion and financial consolidation for all your global operations.