NetSuite Unveils New OneWorld Features for EMEA Companies

New Features Give EMEA Companies Access to Country-Specific Business Requirements to Succeed in the Cloud

LONDON, Oct. 16, 2017 /PRNewswire/ -- NEXT READY BUSINESS TOUR 2017 — Oracle NetSuite, one of the world's leading providers of cloud-based financials / ERP, HR, Professional Services Automation (PSA) and omnichannel commerce software suites, today announced more NetSuite OneWorld features localised for EMEA headquartered companies. The new features unveiled today deliver the global financial capabilities to allow businesses to gain greater financial control over intercompany accounting across multiple jurisdiction countries, improve auditing processes, reduce financial close time, and provide businesses with an exceptional experience when conducting bank reconciliation. NetSuite additionally announced today new localised features in Spain and Portugal, to help meet country-specific business requirements and tax and regulatory compliance.

Already in use by more than 3,000 subsidiaries and legal entities of global companies running businesses across EMEA, NetSuite OneWorld, winner of the 2017 UK Cloud award for ERP Product of the Year, provides a unified and cloud-based suite of software that is flexible enough to meet the needs of diverse business models, legal structures and geographies. NetSuite OneWorld supports 190 currencies, 20 languages, automated tax calculation and reporting in more than 100 countries, and customer transactions in more than 200 countries.

EMEA Companies Receive More Global Financial Features for Operational Efficiency

Companies with headquarters in EMEA and local subsidiaries continue to confront challenges managing accounting across multiple countries while maintaining auditability. The new features released in NetSuite OneWorld give organisations across EMEA rich new capabilities, including book-specific intercompany journal entries, cross book reporting, deferred expense roll forward report, and GL audit numbering in searches and reports to fulfill Storno requirements for reversing transactions. The new features also improve auditability, giving companies even greater financial controls.