Large corporations use software systems to integrate and control their various business operations. When a company grows, however, many business leaders find that integrating different systems can become increasingly complex, time-consuming and expensive as the number of “local” tools grow. This is especially true if business growth leads to opening new subsidiaries in Latin America, where foreign legal, tax and accounting standards must be taken into account.
The Oracle NetSuite Cloud ERP System enables large corporations with multiple subsidiaries to simplify and standardize their business operations in various regions, streamlining everything from the supply chain and inventory control to customer relationship management (CRM) financial management and accounting.
Implementing a global ERP system that is 100% in the Cloud can seem like an intimidating task. However, at some point the business benefits will vastly outweigh the temporary challenges of implementation.
Does your company have operations in Brazil, Mexico, Colombia, Chile, Argentina, Peru, Costa Rica, Panama or Ecuador? Below are 3 clear signs that your company has reached the right moment to consider implementing Oracle NetSuite in Latin America.
#1: You have duplicate ERP systems and resources in more than one country
If your company already operates at least one subsidiary in Latin America, you are probably familiar with the problems that can arise when individual business locations run on separate ERP systems.
With Oracle NetSuite Cloud ERP, managing your business can become much simpler and more organized. NetSuite provides clear visibility of all operations, from headquarters to the smallest foreign subsidiary. This means fewer teams are needed to manage information; key business data can be collected faster from any entry point; and executives can make better and faster decisions.
#2: You are manually gathering financial and accounting information
When local offices manage their accounting data in an isolated financial system, significant resources must be spent to manually gather financial system reports and convert them to a standard global format. This time-consuming process can be especially risky and complex when the reports relate to various operations that are subject to many different legal and tax structures.
If your company has multiple subsidiaries, a global ERP system like Oracle NetSuite can consolidate both financial and operational data. Automated processes help avoid the costly errors that can often occur when recording or manually transferring data to and from spreadsheets. NetSuite’s features include:
- Business intelligence
- And more
The time it takes to complete month-end financial closing can also be dramatically cut with NetSuite, as the main team at headquarters does not have to wait for local teams to send up the relevant information or struggle to synthesize account data in different formats.
#3: Your company has problems dealing with various legal and tax environments
As your company grows, the level of taxation, reporting and other regulatory requirements are bound to grow along with it. It can be hard to keep track of all the legal and tax requirements in multiple countries, but a small rule change in just one location can have a big impact on your company as a whole.
Handling multiple tax schedules, constantly updating currency conversion rates, and keeping up with the latest regulatory changes is easy with Oracle NetSuite Cloud ERP. Businesses can generate receipts and invoices in several languages, so customers can always be sure that all the documents and information they receive always reflects the latest tax and / or monetary updates for that location.
NetSuite in Latin America: Full Implementation Now Available
Moving your local ERP to a global system like NetSuite will directly assist in the expansion of your business by consolidating financial reports, simplifying and streamlining business processes and practices and saving you and your employees one of the most precious resources: time.
Implementing a new global ERP is a critical business decision, so you want to do it with experts who know how to adapt the system to reflect your industry and your unique business needs. For corporations expanding into Latin America, the clear leaders in NetSuite implementation are OneSystem, a division of LatamReady.
Since its founding in 2009, OneSystem has grown to become the largest and most experienced NetSuite team in Latin America. Today, our company has more than 100 employees and have worked with more than 150 international companies.
The traditional way of training for new NetSuite users is being transformed by cloud-based technology. Companies no longer need to hire consultants to travel to different countries to oversee NetSuite training at each subsidiary. Instead, more and more companies are applying their training online.
OneSystem is perfectly equipped to provide companies with the support and training services that NetSuite users need. All OneSystem customers have access to LatamDojo, which is our exclusive E-learning platform. LatamDojo contains essential NetSuite online training courses in Portuguese, Spanish and English.
NetSuite Resources from LatamReady
As the number one partner of NetSuite in Latin America, we have developed an impressive network of NetSuite resources, including webinars, demos and more. In addition to LatamDojo, some of our most popular NetSuite platforms and features include:
- NetSuite demos – Detailed demos from our experts provide a step-by-step guide on how to harness the power of NetSuite.
- OneSystem Blog: contains the latest news and tips about NetSuite in Latin America. It is updated frequently, so check back frequently.
- LatamReady on YouTube: Subscribe to never miss a new video about Oracle NetSuite in the Latin American region. Watch from anywhere, even on your phone!
- OneSystem on LinkedIn: connect with us on LinkedIn to stay updated on the latest developments and special offers.
Are you ready to achieve rapid growth and scale revenue in Brazil, Mexico, Colombia, Chile, Argentina, Peru, Costa Rica, Panama and Ecuador? Oracle NetSuite Cloud ERP is the management system technology that growing corporations need to unlock their full potential.
The full implementation of NetSuite is now available in 18+ Latin American countries through OneSystem, a division of LatamReady. Contact us: https://tinyurl.com/y3gajwck or schedule a call with a OneSystem sales representative.