NetSuite OneWorld – What Is It?

By the team at Elevate2 | 26 Feb 2021
6 min read

NetSuite OneWorld is a single database business system capable of managing global companies’ complex international reporting, tax and financial accounting needs.

So, now you know! When NetSuite began its life as NetLedger back in 1998, it was the world’s first web-based accounting package, designed for small businesses. Over the subsequent years, Evan Goldberg’s (see the video below where he talks about NetSuite) vision grew NetSuite into an attractive prospect for increasingly larger businesses, to become the world’s leading cloud-based provider of business management software offering Financial Accounting, Enterprise Resource Planning (ERP), Customer Relationship Management (CRM) and Omnichannel Commerce functions, with more than 40,000 customers in over 100 countries.


For companies with a global presence facing the legislative and fiscal challenges of operating in multiple territories, we now have NetSuite OneWorld.

Key Features:
Global Financial Accounting

For many businesses, the power of NetSuite OneWorld’s global financial accounting platform alone will make the investment worthwhile. NetSuite OneWorld Financials gives you real-time visibility at a local, regional and headquarter level whilst standardising your business processes worldwide and ensuring seamless compliance with financial requirements such as IFRS, SOX and GAAP. All of your company data is stored in a single database, making reporting easier and operations more efficient.

Consolidated Financial Reporting

Running a global business presents many challenges including cultural differences, language barriers, different regions using different business systems and so on. Under such circumstances, financial reporting can be a slow, fragmented process. Often, by the time a report is created, the information is out of date and it is devalued as a result. With NetSuite OneWorld communication barriers are bridged, data is easily understood and it is presented in real-time providing an instant global view of your business.



Multi-Currency and Multi-Country Management

Managing multi-currency and multi-country accounting across disparate systems which don’t talk to each other can be a time-consuming and potentially error-strewn process. With over 190 currencies and exchange rates supported via real-time feeds, in OneWorld, you’re able to interact with global customers and vendors easily and efficiently. NetSuite provides localised tax calculation and reporting for over 100 countries, and with the new SuiteTax engine it can support increasingly complex use-cases. Wherever you do business, you can rely on NetSuite to support you. With regularly changing international tax laws NetSuite OneWorld’s cloud service also gives you peace of mind that you are up to date, as NetSuite is kept updated overnight whilst you sleep.

Run your Global Business from Anywhere

As NetSuite OneWorld is web-based you can run your global empire using your desktop, laptop, tablet or mobile from anywhere with an internet connection all from the palm of your hand. No more racing back to the office to check your email for the spreadsheet you’ve been waiting all week for – every bit of information will be right there in front of you, wherever you are.

The requirements of the modern global company are complex, and NetSuite OneWorld ensures those requirements are met. The headache of complying with taxation, currency and legal compliance nuances on a local, regional and international level are taken care of. Having a real-time global vision of their business on both a local and global level is invaluable to business leaders, making short and long-term business decisions easier than ever before. Add to that the benefits of global CRM, Professional Services Automation (PSA) and e-commerce solutions and you have a business model perfectly in sync across all its operations.

So, if you want to drive finance and operational efficiency, and deliver real-time visibility and consolidation for your global business, why not contact us and we would be happy to walk you through it:

[email protected]

☎️ +44 (0) 203 733 2110