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October 4, 2010

NetSuite releases new version of OneWorld

Features new multi-national inventory, taxation, accounting and embedded Google apps integration

By CBR Staff Writer

NetSuite has unveiled the new version of its cloud ERP offering for complex, multi-national companies, featuring complex multi-subsidiary inventory management, deeper support for country- and local-specific tax codes, and Google Apps integration.

NetSuite OneWorld 2010 also include expanded certification for the European market, greater control of foreign currency amortization and revaluation, and an advanced user interface.

The company said that its new version of OneWorld makes it easy to transfer inventory between any subsidiary anytime, anywhere – through a web browser.

It introduces a new easy to use multi-step inventory fulfillment approach for moving items between subsidiaries, and enables global businesses to easily track the price of products moved between across subsidiaries.

OneWorld 2010 provides businesses with more comprehensive automated country specific tax reporting and automated tax calculation and deeper support for German, Netherlands, New Zealand, Canadian, and Philippine Taxes.

OneWorld is now certified for Austria and Switzerland accounting standards and enables greater control over the revaluation of amortized foreign denominated balances with flexible foreign currency amortization.

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NetSuite said that its new version incorporates Google OpenID’s trusted authentication system, and the company administrators can control OpenID access via role-based permissions.

NetSuite CEO Zach Nelson said that OneWorld has shattered the myth that complex processes can’t be run in the cloud.

"Most of our customers are live in 3 to six months, as contrasted with the years that it takes to roll-out traditional non-cloud software offerings," Nelson said.

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