NetSuite Inc. leader of cloud-based financials/ERP software suites, had announced NetSuite OneWorld PH. The first cloud-based ERP suite customize specifically to accommodate the ever so wide Philippines market. NetSuite OneWorld PH is the localized version of the NetSuite OneWorld system. All the accounting rules, usage conventions, statutory and regulatory requirements, including tax reporting requirements mandated by the Bureau of Internal Revenue (BIR) all customized for to satisfy the Philippines needs of cloud computing.
About NetSuite OneWorld
NetSuite OneWorld is the world’s first and most powerful cloud ERP solution for complex, multi-national companies. The software makes it easy for to manage complex processes, further raising the bar for global ERP solutions with deeper functionality and advanced ease-of-use. New features include complex multi-subsidiary inventory management, deeper support for country- and local-specific tax codes, greater control of foreign currency amortization and revaluation, an advanced user interface, and Google Apps integration.
With NetSuite OneWorld, business can run their business operations with multiple subsidiaries, business units and legal entities all from a single NetSuite account.
The Rise of NetSuite OneWorld PH
Cloud-based solutions have been in existence for the last 10 years and have provided a more affordable and much easier means to do ERP and CRM for different global companies. Lots of companies in Asia/Pacific regions (APAC) have started abandoning traditional and bulky ERP system that is to expensive to setup and maintain. The shift to cloud-base solution has doubled for the last year alone. And the trend is continually going up.
That’s why the NetSuite OneWorld PH is a great solution with this emerging trend. Especially with the implemented BIR Revenue Regulation 09-2009, that requires all top 20K corporation in the Philippines to use Computerized Accounting System (CAS). Which will enable the company to roll out and integrated system for accounting and financial reporting quickly and cost-effectively.
Philippines Companies that had Benefited from NetSuite
Companies headquartered or with significant presence in the Philippines are enjoying success with NetSuite. These companies have chosen NetSuite over disparate business management applications to grow their businesses and have embraced NetSuite for its integrated suite which delivers ERP / accounting, CRM, and Ecommerce capabilities in a single cloud application.
Giant Philippines company have already jump in the cloud-base band wagon, such as: