The Total Guide to NetSuite OneWorld ERP
In this guide, we’ll cover everything you need to know about NetSuite OneWorld integration including market-fit, pricing, features, and comparisons.
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What is NetSuite OneWorld ERP?
NetSuite OneWorld ERP is software used by multi-national enterprises throughout the company to streamline business processes, handle transactions of their legal entities, and gain real-time visibility into worldwide operations at multiple global business consolidation levels. NetSuite OneWorld functionality includes global tax and legal compliance for different countries.
Oracle NetSuite OneWorld includes:
- Global Enterprise Resource Planning (ERP)
- Global Customer Relationship Management (CRM), including sales force automation
- Global E-commerce
- Global Services Resource Planning (SRP)
- Global Business Intelligence
- Global Tax and Compliance Management
NetSuite OneWorld ERP is designed for global accounting and financial management.
With OneWorld, financial statements can use GAAP for the U.S. and international IFRS standards for multi-national business units. Comply with Sarbanes-Oxley (SOX) for internal control and have audit trails. OneWorld offers multi-currency and multi-language features and global business consolidation with drill-down to transaction details from the general ledger and business data at multiple business levels.
Businesses can customize NetSuite OneWorld for both the corporation and its subsidiaries. NetSuite OneWorld has a tax engine that uses taxation rules for many locations.
Which Types of Businesses Use NetSuite OneWorld?
Multi-national, global businesses of all sizes in many industries use NetSuite OneWorld. Oracle NetSuite OneWorld excels as a solution for mid-market companies.
NetSuite OneWorld can be used as a standalone ERP system.
For manufacturers, NetSuite ERP Manufacturing Edition includes manufacturing resource planning (MRP) features, including demand forecasting and production scheduling. The NetSuite OneWorld module can be added to make the solution work globally for manufacturers.
NetSuite OneWorld can also be integrated as a module with NetSuite ERP for users in other industries.
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How Much Does NetSuite OneWorld Cost?
Oracle NetSuite OneWorld pricing for the number of users, selected NetSuite or NetSuite OneWorld modules, third-party add-on software costs, implementation, customization, upgraded customer support, and training costs are used to compute the cost of using NetSuite OneWorld. A NetSuite partner (reseller and consultant) will quote the software cost plus the services required for your business needs.
How Does AP Automation Software Integration Work With NetSuite OneWorld?
AP automation software is a third-party add-on integrated with NetSuite ERP OneWorld via API, usable through the NetSuite login. Tipalti payables and global mass payments automation software provides users multi-currency features. Besides saving time, Tipalti handles global business tax and legal compliance differences in many international countries, improving corporate governance and reducing risk.
What Are The Primary Features and Advantages of NetSuite OneWorld?
• Multi-entity and multi-currency for multi-national businesses
• Multi-language support
• Global business intelligence
• Multi-level financial consolidation in real-time
• Multiple global web stores for E-commerce
• Global legal and tax compliance
• Multi-location inventory management
NetSuite One World benefits are plentiful for multi-national companies with multiple subsidiary operations.
With Oracle NetSuite OneWorld, companies can standardize business processes worldwide.
NetSuite OneWorld users can use automatic foreign currency exchange rates working with global order management to do business with customers in many countries.
NetSuite OneWorld businesses can also communicate with customers in their preferred language with localized forms and websites, web stores, and emails translated into their language. The local language forms include order status, shipment notifications, invoices, and purchase orders.
NetSuite OneWorld ERP for accounting and financial management lets users make adjustments at the local level for currency and differences in taxation and legal compliance. For financial consolidation, roll-up is done worldwide at the regional and global business level, giving real-time visibility.
The Oracle NetSuite OneWorld Global Business Intelligence (BI) module provides users real-time visibility of worldwide enterprise data relating to finance, customers, and business operations. NetSuite OneWorld Global BI includes real-time dashboards with key performance indicators (KPIs) and multiple global business consolidation levels. Users can drill down to see key metrics relating to business performance.
NetSuite OneWorld E-commerce lets NetSuite users run multi-country, multi-language, and multi-brand web stores using different currencies.
NetSuite OneWorld Global Services Resource Planning (NetSuite SRP) streamlines workflows in these functional areas during the entire services lifecycle:
• Project management
• Service delivery
• Invoicing and billing
• Revenue management
Oracle NetSuite OneWorld is outstanding at tracking inventory items by location, giving real-time information on inventory stock status throughout the global enterprise. Users can transfer inventory between locations to where it’s needed without overstocking.
How to Implement & Use NetSuite OneWorld?
NetSuite OneWorld implementation starts with a quote for OneWorld consulting from a NetSuite Partner. Take NetSuite OneWorld training courses. Review the NetSuite OneWorld Guide in the Oracle Help Center that covers the ERP and other OneWorld business modules. Use the Help feature within the software and NetSuite OneWorld support. Watch NetSuite OneWorld YouTube tutorials.
Which ERP Systems are Comparable to NetSuite OneWorld?
NetSuite OneWorld vs NetSuite ERP is a decision that starts with a consideration of the extent of multi-entity operations conducted by a business, where NetSuite OneWorld excels. Both NetSuite and NetSuite OneWorld are cloud-based ERP solutions supplemented with other functional software modules. You can choose to add the NetSuite OneWorld module to NetSuite ERP to give NetSuite global functionality. Therefore, it’s not necessarily a decision of NetSuite vs OneWorld.
Sage Intacct is an ERP that lets users integrate add-on software for more functionality. Within its accounting software, Sage Intacct offers global consolidation accounting with multi-entity and multi-currency.
Like Oracle NetSuite OneWorld, Infor is an ERP solution for medium and large multi-national global business enterprises with multiple business units. Infor serves a wide range of industries.
The Enterprise edition of Microsoft Dynamics 365 ERP is used by multi-national and multi-entity companies in many industries. It includes apps for many Microsoft Office 365 and Teams software products and tools.