Expanding internationally opens massive growth potential for companies of all sizes. Yet global business also intensifies complexity across operations, compliance, reporting, and more. Manual processes strain under the weight.
To scale successfully around the world, companies need unified connectivity and visibility across all locations. As the world’s #1 cloud ERP platform, NetSuite empowers rapid global growth by removing technology barriers and helping streamline multi-national management.
In this article, we’ll explore key benefits NetSuite offers organizations expanding globally including:
– Multi-subsidiary management
– Global financial consolidation
– Multi-language and currency support
– Scalable order processing
– Global inventory and supply chain management
– Local taxation tools
– Advanced reporting and business intelligence
We’ll also discuss why partnering with an expert implementation firm like SuiteRep helps you configure NetSuite’s global capabilities to your strategic needs.
Multi-Subsidiary Management
NetSuite gives headquarters a single pane of glass to manage remote offices, subsidiaries, and international divisions across the world. Configure multiple companies within one account to track P&Ls, balance sheets, bank accounts, AP/AR, fixed assets, and more for any region.
Consolidate financial reporting across all entities while still giving local teams access to their own books. NetSuite security roles and permissions enable customized data views. For example, limit subsidiary access to leads/customers in their geography to avoid conflicts.
Global Financial Consolidation
Consolidating financials gets exponentially more difficult as companies scale globally. NetSuite makes it seamless with automatic roll-up of all general ledgers into one unified view.
Customize multiple consolidation rules whether by business unit, country, currency, or other criteria. NetSuite handles currency conversions and intercompany eliminations. Gain a consolidated dashboard of cash balances, receivables, and payables worldwide. Drill into individual books or audit trails anytime.
Multi-Language and Currency Support
NetSuite natively supports 190+ currencies and 19 languages from Arabic to Thai. Configure languages, currency notation, decimal separators, negative number formats, and calendars independently per subsidiary if needed.
Local users access NetSuite in their own dialect. Auto-detect language settings based on login or allow switching on the fly. Enable dual currency display to run reports converted into headquarters’ home currency for consistent global analysis.
Scalable Order Processing
Centralize order management in NetSuite to sale to any country from any office. Configure taxes, payment options, shipping rules, approvals, and more unique to any region. Language and currency localize per customer automatically.
Real-time inventory visibility from all distribution points enables efficient omni-channel fulfillment. Meet compliance selling products abroad with pre-built integrations to carriers, payment gateways and more. As order volume grows, NetSuite responds without slowdowns.
Global Inventory and Supply Chain Management
Get end-to-end control over the entire supply chain via unified management of items, vendors, POs, receipts, warehousing and shipping across continents. NetSuite’s Advanced Inventory optimizes fulfillment routing from multiple warehouses worldwide.
Sophisticated replenishment management considers lead times, carrying costs, seasonality, sales forecasts and inventory health by location. Strategically place purchase orders to meet demand globally while improving working capital efficiency.
Local Taxation Tools
Expanding overseas greatly expands tax complexity. NetSuite helps stay compliant with 100+ pre-built tax engines covering rules from over 100 countries. Simply activate the engines needed per subsidiary without extensive customization.
Tax reporting also generates in required formats for any region. Rely on NetSuite’s dedicated in-house tax team to continually update tax engines according to changing regulations abroad so you don’t have to.
Advanced Reporting and Business Intelligence
Harness the power of NetSuite’s 300+ pre-built reports or create custom versions with the built-in report builder. Save report templates to reuse or set automated schedules to distribute KPI dashboards company-wide.
Click down on any metric for drill-through analysis to underlying transactional details. Integrate NetSuite analytics into existing BI tools via standard connectors to share insights across platforms. Grow without flying blind as global data pours in.
Why Choose SuiteRep as Your NetSuite Global Implementation Partner?
As discussed, NetSuite streamlines nearly all aspects of operating an international business. Yet tailoring the platform’s comprehensive global capabilities to your organization’s needs poses challenges without proper guidance.
Attempting to configure global subsidiaries, taxation rules, localized workflows and more can quickly overwhelm admin resources. And the risks of set up missteps amplify as companies expand farther across borders.
Turn to SuiteRep’s global NetSuite implementation consultants to expertly activate and customize NetSuite’s international features to support your growth. Here’s why SuiteRep stands out from other partners:
Proven Global Implementation Expertise
SuiteRep holds deep real-world understanding of the nuances and pitfalls when rolling out NetSuite abroad. Our team has guided over 500 companies through successful expansions worldwide with NetSuite.
The SuiteRep team brings decades of combined experience setting up, testing, and optimizing NetSuite for global businesses across dozens of countries. Rely on proven best practices catered to your objectives.
Regional Configuration Specialists
Within its global implementation team, SuiteRep provides dedicated resources for the Americas, EMEA, and APAC regions. This specialized expertise ensures your subsidiaries’ NetSuite configurations align to location-specific needs.
For example, our EMEA specialists help activate complex VAT rules and reporting across the European Union needed to maintain compliance. Let us handle the intricacies so you can focus on high-level strategy.
Ongoing Managed Services and Support
SuiteRep also offers NetSuite managed services to permanently run your global NetSuite account. Our support team helps reconcile books across subsidiaries, assists with period closes, imports actuals vs. budgets from local systems, and handles consolidations.
We act as your virtual NetSuite administrator freeing up your staff. SuiteRep monitors workflows to flag inconsistencies that could signal problems as you scale. We help troubleshoot issues and provide user training refresher courses to keep productivity high.
Bottom Line Savings
Some organizations first consider an in-house admin to configure NetSuite’s global features before realizing the costs of trial and error. SuiteRep eliminates wasted budget through our proven global rollout methodology refined across industries.
Our team completes implementations faster and more efficiently than novices getting up to speed. The SuiteRep team also proactively avoids pitfalls that trigger expensive rework if not set up properly initially. Let us guide your global growth with NetSuite tailored to your strategic needs.
