Summary: A chance to catch up with LatamReady Founder (and CEO) Carlos Zumaeta recently. We discussed a number of topics re: international expansion, local support for Brasil, LatamTax, E-Learning technology and more.
Founded in 2009, LatamReady has been working hand in hand with NetSuite for over a decade, providing quality tax compliance solutions to some of the leading global corporations with operations in Latin America.
The Miami-based company recently unveiled an impressive arsenal of new tax compliance solutions to help international corporations running NetSuite drive growth and increase revenue in 18+ Latin American countries.
We had the opportunity this week to sit down with LatamReady Founder and CEO Carlos Zumaeta to discuss his company’s international expansion, latest innovations and how international corporations using NetSuite in Latin America can benefit from the LatamReady SuiteApp.
Here are some of the highlights of our conversation.
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How has LatamReady developed over the years?
When LatamReady first started out, we were just two partners and an intern with a couple of laptops and a vision: to build the ultimate tax compliance solution in Latin America for international corporations using NetSuite.
We witnessed a lot of big companies trying to enter the Latin American marketplace, but they lacked the right set of tools to manage the complex tax regulations in countries like Brazil, Mexico and elsewhere in the region. We developed our innovative tax compliance solution, the LatamReady SuiteApp, to extend the power of NetSuite and help international corporations unlock opportunity across Latin America.
I am proud to say that, today, LatamReady not only has the largest team of NetSuite experts in Latin America, but we offer the ONLY Built-for-NetSuite SuiteApp that is certified for 18+ Latin American countries.
Over 150 international companies with multi-Latin operations rely on the LatamReady SuiteApp to achieve full tax compliance across the Latin American region, including in:
- NetSuite in Brasil – See SuiteApp Features
- NetSuite in Mexico – See SuiteApp Features
- NetSuite in Colombia – See SuiteApp Features
- NetSuite in Chile – See SuiteApp Features
- NetSuite in Peru – See SuiteApp Features
- NetSuite in Argentina – See SuiteApp Features
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Do you have plans to continue growing the LatamReady team?
Yes, in fact, we recently welcomed a new NetSuite team aboard in Brazil, which will operate locally in Sao Paulo and offer outstanding support to our clients doing business in the region’s largest economy.
With our headquarters in Miami, Florida and operations in Lima, Peru and now Sao Paulo, Brazil, companies that partner with LatamReady never have to worry about communication breakdowns or key messages being lost in translation. Our multilingual team operates fluidly in English, Spanish and now Portuguese.
Expanding our physical footprint into Brazil also helps ensure that our team is on the ground in the same time zones where important NetSuite projects are rolling out. This is a clear advantage for international corporations with multi-Latin operations, as LatamReady team members are always available to field questions or handle issues that may arise for any project across the entire Latin American region.
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What is one of the biggest tax compliance challenges businesses face in Latin America?
One of the biggest accounting challenges international corporations face when expanding into Latin America is managing electronic invoices. E-invoicing is mandatory in many countries, but following the precise regulations — which change frequently — can be incredibly difficult. Even in Brazil, where the E-invoicing system has been in place for over 10 years, many companies must dedicate enormous resources to figuring out the complex E-invoicing requirements.
The challenge of E-invoicing is one major reason why more and more big international corporations using NetSuite are turning to the LatamReady SuiteApp. Our tax compliance solution enables businesses to produce pixel-perfect E-invoices from within NetSuite with just a few clicks of the button.
And yes — before you ask — our E-invoicing feature even works in Brazil! The LatamReady SuiteApp’s E-invoicing feature is integrated to Boleto Bancario to all major Brasilian banks, allowing for fast and secure E-invoicing processing in Brazil.
Businesses can also choose from 3 versions of the E-invoicing feature, depending on their unique needs:
- 1-by-1 — Generate and send one invoice at a time
- Bulk — Generate and send up to 200 invoices at a time
- Unlimited — Generate and send high volumes of E-invoices as needed
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What are some of the key features of the LatamReady SuiteApp?
The LatamReady SuiteApp works within NetSuite to help companies simplify and automate their complex back-office accounting processes, saving valuable time and money that can be reinvested in developing new strategies for growth.
Our team of 100+ NetSuite experts works tirelessly to develop and update the critical features businesses need to achieve full tax compliance for all their operations in Latin America. In addition to E-invoicing, some of the key features in the latest version of the LatamReady SuiteApp include:
- LatamTax — LatamReady‘s exclusive technology for supporting withholding taxes requirements in Brasil, Mexico and all of Latin America from within NetSuite.
- LatamHub — Automatically integrates legal exchange rates on a daily basis.
- LatamTools — Automation tools to eliminate errors
- LatamReady Initial Data Cleansing — Cleans initial data, including local tax compliance fields, before CSV files are imported during the implementation project.
- LatamReady Configuration Scanner — Reviews if NetSuite and LatamReady SuiteApp configurations are correct, or if they need to be reviewed or corrected.
- LatamReady Data Quality Scanner — Reviews daily data to ensure compliance with local tax rules.
- Legal Ledgers Feature — Expands NetSuite capabilities to support legal ledgers in Brazil for services and inventory items
- E-Payments Feature — Expands NetSuite’s E-Payments feature to work with over 50 local banks in Latin America.
- Inventory Items Tax Calculation — LatamReady has partnered with Brazilian tax intelligence company Systax, a leading local tax engine calculator that automatically updates sales tax rates into NetSuite transactions.
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How does LatamReady set itself apart from competitors in the region?
We face some spirited competition from other global tax compliance apps integrated into NetSuite, such as Avalara, Sovos, Vertex, Wolters Kluwer and Thomson Reuters. One way we set ourselves apart from the competition is my forging strong partnerships with key local players across the Latin American region.
For example, LatamReady has established a web services connection with OOBJ, a recognized local E-invoicing supplier in Brazil certified by and connected directly to the local tax agency. Thanks to this connection, businesses that use the LatamReady SuiteApp never have to worry about finding additional E-invoicing support in Brazil and can trust that their E-invoices are always accurate and conform to the latest regulations.
By creating strong partnerships across the region with local players like OOBJ, LatamReady is able to offer the most robust and reliable E-invoicing function within NetSuite in Latin America.
Click Here to Get a Free Product Tour: https://tinyurl.com/y7zgh9uv
How do you believe rolling out NetSuite in Latin America will change in the future?
Many companies are moving all their key business processes into the cloud with NetSuite and some are even shifting to a 100% remote operation. I believe NetSuite training is going to follow this same path — all roads point to the cloud.
In the coming years, companies will no longer hire consultants to fly to different countries to oversee NetSuite training onsite, but instead will rely more on online training. Fortunately, LatamReady is perfectly equipped to provide international companies rolling out NetSuite in Latin America with the cloud-based support services and training their local NetSuite users need.
Every LatamReady client is provided access to LatamDojo, our exclusive E-learning platform. LatamDojo contains essential online NetSuite training courses and Latin American tax compliance courses in Spanish, Portuguese and English.
As a cloud-based E-learning platform, local users in Brazil, Mexico and across Latin America can access LatamDojo anywhere they have an internet connection and learn to master NetSuite in their native language!
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What other NetSuite resources does LatamReady offer to clients?
As the leaders of tax compliance with NetSuite in Latin America, we have developed and are eager to share our robust network of NetSuite resources, which includes webinars, demos and more. Valuable resources for our partners and clients, some of our most popular NetSuite resources and platforms include:
- NetSuite in Latin America Demos: Detailed demos form our experts provide step-by-step guidance regarding mandatory taxation fields within NetSuite for Latin American subsidiaries.
- LatamZone — Watch NetSuite in Latinoamérica webinars, presented by a specialized team for each topic. You don’t want to miss what they have to say!
- LatamReady Blog: Contains all the latest news and tips regarding mandatory tax compliance regulations in Latin America. Updated frequently, so check back often!
- LatamReady YouTube Channel: Hit subscribe so you never miss a new video about taxes and Oracle NetSuite in Latin America. Watch from anywhere, even on your phone!
- LatamReady on LinkedIn: Connect with us on LinkedIn to stay up to date with the latest developments and special offers.
Click Here to Get a Free Product Tour: https://tinyurl.com/y7zgh9uv
Final takeaways — anything else you would like to add?
For any CEOs or CFOs who may read this interview: if you lead an international company using NetSuite and plan to roll out projects in Latin America or scale up in the region, consider the following:
- With over 10 years of experience, 100+ NetSuite experts, and 150+ projects successfully completed, LatamReady is the biggest and most experienced team of experts for NetSuite in Brasil, Mexico and the entire Latin American region.
- LatamReady provides a single point of contact and project support in English, Spanish and Portuguese.
- The LatamReady SuiteApp operates 100% in the cloud and is “Built-for-NetSuite,” meaning our tax compliance solution is certified by and works natively inside NetSuite.
- LatamReady goes above and beyond the standard release schedule for certified SuiteApps by incorporating a new set of legal updates each month — resulting in 12 new SuiteApp releases each year.
- The LatamReady SuiteApp is the ONLY tax compliance solution certified by NetSuite that works in 18+ Latin American countries.
Get a free product tour of the LatamReady SuiteApp here: https://tinyurl.com/yb22ktch or call a LatamReady sales reps at +1-786-600-2641 today to get the ultimate tax compliance solution within NetSuite in Latin America.
Click Here to Get a Free Product Tour: https://tinyurl.com/y7zgh9uv
LatamReady | Get the Ultimate Tax Compliance Now!
Learn About NetSuite Online in Portuguese, Spanish and English
LatamDojo | E-Learning Platform for NetSuite in Latinoamérica
