Oracle NetSuite today announced a series of new innovations to help organizations across the world achieve the visibility and control needed to navigate change and accelerate growth. The latest innovations within the NetSuite solution include new global financial management capabilities that streamline currency and trade management and localizations to support customers in some of the world’s largest economies, including China, France, Germany, India, Japan, Mexico, Singapore and the UK.
“The pace of change around the world is increasing and organizations need to be agile in order to stay ahead of the competition and meet changing customer expectations,” said Evan Goldberg, EVP, Oracle NetSuite. “To help our customers manage increasing demands and reach new heights in every market they operate in, we are committed to making the most complex business processes simple through continued global enhancements to NetSuite.”
New Global Trade Management Capabilities
Help customers streamline the management of multi-subsidiary operations, support global compliance and gain real-time global insight.
- Global trade enablement: Customers can simplify and streamline intercompany trade business processes within NetSuite including transactions, reconciliations and netting.
- SuiteTax API: Customers can now streamline compliance with different tax requirements across the globe by eliminating the need to manually monitor tax rate changes across more than 100 countries. The new tax API also supports compliance with U.S. sales tax.
- Foreign currency expense report: Customers can now automatically reimburse employees in their local currency instead of the currency of the company’s headquarters.
- Installments: Customers can now set and manage scheduled payment due date arrangements with both their customers and suppliers with new capabilities that allow them to adhere to the local expectations of customers in Latin American countries and beyond.
New localized product capabilities empower NetSuite customers headquartered, or operating subsidiaries in some of the largest economies in the world, to quickly and easily leverage an integrated suite of modern business applications to drive growth, reduce costs and achieve the benefits of cloud computing.
About Oracle NetSuite
For more than 20 years, Oracle NetSuite has helped organizations grow, scale and adapt to change. NetSuite provides a suite of cloud-based applications, which includes financials / Enterprise Resource Planning (ERP), HR, professional services automation and omnichannel commerce, used by more than 16,000 customers in 203 countries and dependent territories.
For more information, please visit http://www.netsuite.com.
The Oracle Cloud offers complete SaaS application suites for ERP, HCM and CX, plus best-in-class database Platform as a Service (PaaS) and Infrastructure as a Service (IaaS) from data centers throughout the Americas, Europe and Asia. For more information about Oracle (NYSE:ORCL), please visit us at oracle.com.