What is NetSuite Global Business Management?

NetSuite OneWorld simplifies global operations by managing multiple currencies, taxation rules, and reporting requirements across geographies and subsidiaries while providing real-time financial consolidation and visibility.

Used in over 215 countries and dependent territories, NetSuite OneWorld enables companies to manage multiple subsidiaries, business units, and legal entities from a single ERP. It supports 27 languages and 190 currencies, making it easy to work with customers and suppliers worldwide. Country-specific configurations help ensure compliance with local accounting, tax, and regulatory requirements.

NetSuite OneWorld provides real-time visibility into operational and financial performance, standardizes core processes, manages risk, and controls costs at all levels of the organization.

Having a unified platform for managing multiple subsidiaries, business units, and legal entities can significantly increase productivity and improve business performance.

NetSuite’s ERP solution allows you to manage all aspects of your business from one centralized system, ensuring that everyone in your organization is on the same page. With real-time visibility into operational and financial performance, you can standardize core processes, manage risk, and control costs at all levels of the organization.

NetSuite OneWorld is designed to comply with both global standards and country-specific audit, tax and data security regulations, providing businesses with an all-in-one solution that eases compliance with complex and ever-changing rules.

NetSuite OneWorld provides automatic currency conversions and financial consolidation, giving you a real-time view of your business’s performance at any time and from anywhere, allowing you to make informed decisions.

With NetSuite currency management, businesses can support over 190 currencies and exchange rates, and offer a wide range of payment options, enabling them to do business with customers and suppliers worldwide. Real-time currency conversion and financial consolidation support global operations, while the ability to restate currencies and consolidate financial reporting across business units gives international businesses broader insights.

NetSuite’s multi-language user interface, which is available in 27 languages including Chinese, Japanese, French, German, and many more, helps to break down communication barriers and provide a flexible hierarchy that makes it easy for businesses to run their entire entity structures.

NetSuite’s multi-book accounting feature allows for multiple sets of books to be used to accommodate different accounting and financial reporting requirements at the local, regional and headquarters level.

Individual transactions can be posted to multiple books simultaneously, ensuring accurate recording under all applicable accounting standards. This enables businesses to easily comply with regulations across different regions and countries, while maintaining financial accuracy and visibility.

With OneWorld, companies can easily generate consolidated financial statements by automatically posting each transaction at both the local and headquarters levels. This simplifies the process and ensures accurate financial reporting.

NetSuite’s unified platform and multi-entity capabilities allow for a standardized general ledger structure at the corporate or headquarters level, while providing regional business units or subsidiaries with the flexibility to create custom charts of accounts. Transactions recorded at the local level are automatically mapped and posted to the parent account in the correct currency and at the appropriate exchange rate, ensuring compliance with global accounting standards.