NetSuite OneWorld for Oracle brings cloud computing to division, retains corporate ERP
New NetSuite software helps divisions of large Oracle legacy accounts manage multinational, multi-sub business operations in real-time using cloud computing techniques.
NetSuite Inc., a vendor of cloud computing business management software suites, announced a new version of NetSuite OneWorld that lets Oracle E-Business Suite enterprise customers enjoy the cost savings and efficiency benefits of cloud-based business suites at the divisional level while retaining current investments in Oracle applications at the corporate level. With NetSuite OneWorld for Oracle, Oracle E-Business Suite customers can use NetSuite's leading Software as a Service (SaaS) application to manage multinational, multi-subsidiary business operations in real-time and then roll up division-level transaction and summary data to gain a key enterprise-wide view of business operations, the company announced Oct. 14.
The NetSuite offering targets a market opportunity that is gaining significant attention in the current economy as large enterprises struggle to control costs and gain greater efficiencies across key business processes, NetSuite said. While some companies spend vast sums on corporate implementations of integrated suites like Oracle, NetSuite says, these business software systems often have difficulty delivering the functionality and flexibility needed to manage and drive the multiple divisions that make up today's typical large multinational corporations.
To compete effectively, NetSuite explains, these divisions often need software systems that are more malleable, customizable and flexible than what is provided by the corporate parent company. NetSuite OneWorld helps address this need by delivering a modern, cloud-based software system that enables the management of divisions within complex, multinational corporations and multi-subsidiary companies, with integration to Oracle E-Business Suite at the corporate level via SuiteCloud Connect for Oracle, NetSuite says.
Food industry example: "In building a worldwide business, our vision on information is to diminish geographic borders and time," said Ysmael Baysa, CFO, Jollibee Foods Corp ., one of Asia's largest fast food chains, operating over 1,800 stores in Asia and North America. "We expect to see the financial information about a store in Shanghai just as fast and complete as one in Manila. By integrating with Oracle financial applications, NetSuite is helping us realize this vision. Going forward, our current plan is to continue supporting our Philippine and corporate operations with Oracle financials, implement NetSuite in all of our foreign operations and establish an efficient interface between these two systems."
"NetSuite OneWorld for Oracle enables large companies to keep their investment in legacy business applications, while deploying a modern, web-based business application suite that reduces costs and helps make their divisions more competitive and employees more productive," said Zach Nelson, CEO of NetSuite.
SuiteCloud Connect for Oracle : Key to NetSuite OneWorld for Oracle is a new integration solution called SuiteCloud Connect for Oracle. SuiteCloud Connect for Oracle enables enterprises running NetSuite OneWorld at the divisional level to seamlessly roll up all data to Oracle E-Business Suite at the corporate level. For example, using SuiteCloud Connect for Oracle, a user could roll up general ledger, order and revenue information from NetSuite to Oracle E-Business Suite for aggregate financial reporting purposes.
- Purchase orders;
- Item fulfillments (Shipments);
- Journal entries;
- Inventory adjustments; and
- Time entries and expense reports.
In addition to SuiteCloud Connect for Oracle, NetSuite Professional Services and a global partner network stand ready to offer expertise in all aspects of Oracle integration. Some key partners include: Pervasive Software, Cast Iron Systems, and Boomi. SuiteCloud Connect for Oracle and integration offerings from NetSuite's partners enable numerous SaaS ERP integration scenarios, including:
- Accounting integrations with parent company financial systems
- Order, shipment, and inventory integrations with external warehouse management systems and third-party logistics (3PLs);
- Supply chain (purchasing) integrations with suppliers;
- Invoice integrations with existing billing engines;
- Order, shipment, and billing integrations between NetSuite's Ecommerce platform and parent ERP systems; and
- Product catalogue and inventory integrations for PLM and MRP modules.
NetSuite says three of the most successful recent U.S. IPOs were conducted by companies who entrust their business operations to NetSuite: OpenTable Inc., SolarWinds Inc., and LogMeIn Inc. Fujitsu Business Systems of Japan recently became a distribution and support partner, expanding the reach of the only fully local Japanese cloud computing enterprise solution. NetSuite OneWorld has achieved industry certification by influential European accounting trade groups in Germany and the United Kingdom, the company says.
The company provide more about NetSuite OneWorld for Oracle .
- Edited by Mark T. Hoske, electronic products editor, Manufacturing Business Technology , MBT www.mbtmag.com