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NetSuite Globalization and Localization
Grow your business globally with confidence
Given today’s global economy, many organizations from manufacturing to nonprofits are looking for growth in the international market. This growth is being achieved organically, such as setting up sales or full service offices and through acquisition, such as buying an international competitor. Regardless of the manner of growth, organizations who are expanding internationally require a well-designed ERP and associated processes to manage their business.
As the leading worldwide NetSuite Solution Provider since 2013, RSM is highly experienced and well equipped to assist organizations with their international operations and expansion. With offices across the United States and the largest global network of NetSuite consultants, RSM has certified NetSuite resources in your area. Whether you are looking for consultants who can support you on the ground or remotely, RSM understands how to support our international customers.
Regional Expertise on a Global Scale
When you work with RSM, you have access to our global expertise, as well as professionals that have a deep understanding of the local and regional challenges your business may face.
Going Global with NetSuite
In this guide, you'll find helpful considerations for your international NetSuite implementation.
Complexity of an International Company
Operating an international business is complicated. Each country typically has its own currency, own set of regulations, statutory reporting requirements, tax structure and banking structure. Further, when you start dealing with staff, each country has a different culture and local language that you must adapt. Growing regulatory challenges, compliance risk, financial penalties and more frequent system-based tax audits are leading to businesses being burdened with ever more complex tax compliance requirements.
All of these issues require careful consideration when selecting, setting up and managing your systems and processes in order to be successful.
The term most used in managing all these complexities is “localization”. This means adapting your processes, compliance and the other attributes listed above to the local country requirements. Functionally, an ERP must have multicurrency capabilities. It must be adaptable for the local banking requirements and provide tools for compliance and reporting. The ERP must have robust consolidation and financial translation capabilities.
Considering global expansion? It helps to have the right partner
Why NetSuite OneWorld?
As the world's #1 global cloud ERP, NetSuite OneWorld's tax and compliance management capabilities provides a robust foundation for transparency, automation, simplicity and controls in the management of your global tax and compliance responsibilities, enabling you to grow your business globally with confidence.
Used in over 110 countries with support for the most widely used languages, NetSuite's 'out-of-the-cloud' comprehensive indirect tax management and reporting capabilities cover over 90% of Global Gross Domestic Product (GDP) ensuring your business system is ready to handle your international footprint wherever your company operates.
Indirect Tax Compliance - NetSuite OneWorld Indirect Tax Compliance offers transparency, automation, control and simplicity.
Financial and Accounting Regulations - Used in more than 170 countries, NetSuite OneWorld includes indirect tax management and reporting capabilities.
Configurable Tax Engine - Preconfigured tax codes for over 50 countries plus a flexible, configurable indirect tax engine.
Comprehensive Currency Management - Multi-currency management supports over 190 currencies and a variety of payment options.
Audit and Compliance Reporting - Electronic Audit, always-on audit trail, built-in analytics and enhanced compliance support.
Why choose RSM as your global NetSuite implementation partner?
From new trade rules to talent migration, from big data to cyber threats, the world is changing at an unprecedented pace. In this fast-paced environment, you need advisers who think ahead and respond quickly to your changing needs. RSM is one of the world’s leading audit, tax and consulting networks. We build strong relationships based on a deep understanding of what matters most to you. By sharing ideas from our most senior professionals around the world, we empower you to make critical decisions with confidence to move your business forward and make the most of the opportunities change creates.