MANILA, Philippines - Many local companies and organizations are embracing the potential of cloud-based applications. Already, one of the leading providers of cloud-based Financials/Enterprise Resource Planning (ERP) software suites has been helping these companies streamline their operations.
Industry leader NetSuite Inc. recently announced its newest cloud-based product, NetSuite OneWorld PH, the first cloud-based ERP suite for the Philippine market.
OneWorld PH is a fully localized version of NetSuite’s OneWorld. It is the first and only on-demand system to deliver real-time global business management and financial consolidation to mid-sized companies with multinational and multi-subsidiary operations.
The localized version serves as an application for companies’ requirements for creditable withholding tax and VAT reporting of the Bureau of Internal Revenue (BIR).
Currently, OneWorld PH is in full use in some of the country’s leading companies, including Jollibee Foods Corp., ABS-CBN, and Antech, makers of Dr. Edwards Water.
Zach Nelson, president and CEO of NetSuite, said the requirements needed by the BIR are “one of the most complex that I’ve seen.”
This was not a problem when it came to using the OneWorld PH product. “You can see how easily we have handled it,” he added.
NetSuite OneWorld PH has been fully localized for the accounting rules, usage conventions, statutory and regulatory requirements of the Philippine market, including tax reporting requirements mandated by the BIR.
NetSuite touts the OneWorld PH as the perfect solution for Philippine businesses to manage their domestic and global businesses in the cloud, whether they are locally headquartered or a division of a larger, multinational enterprise.
“NetSuite OneWorld PH represents the perfect opportunity for companies operating in this market to streamline their path to compliance with BIR requirements, and gain greater control over both their local and multinational operations,” said Craig Sullivan, NetSuite vice president and general manager-international.
Other organizations that have benefited from OneWorld PH are the Institute of Culinary Arts and Food Service at Far Eastern University and Makati-based SQL*Wizard.
For more information, go to www.netsuite.com/NetSuitePH.