Superpowers or a Superweapon? What You Need to Expand Oracle NetSuite in Latin America

Companies operating in Latin America face a scary set of villains: complicated tax regulations, constantly changing rules, and different formats for electronic documents, just to name a few. 

These challenges can make expanding NetSuite to the Latin American region seem harder than collecting all six Infinity Stones!  

However, the truth is that you don’t need to be a superhero to expand NetSuite to Brazil, Mexico, Colombia, Chile, and across the region — you just need a super weapon. 

Here are three myths about expanding NetSuite to Latin America — and how companies can take power into their own hands and achieve success in 18+ Latin American countries with LatamReady

Myth #1: You Need a High-Tech Translation Device

Every superhero has their specific weapon, gadget, or tool. Captain America has his shield, Thor has his hammer, and the highly successful ERP sales reps have… a powerful high-tech translation device? Imagine a tiny earbud that instantly translates any language from around the world. 

How else could ERP consultants know how to respond to potential customers in Latin America when they ask about “cinco mil facturas electronicas” or “determinação de impostos e de relatório legais no Brasil”? 

When navigating through foreign languages, cultures, and regulations, things can easily get lost in translation. Unfortunately, these lost-in-translation moments can often lead to lost opportunities. 

And the truth is, a super-translator device has not been invented (yet). 

However, there is another valuable secret weapon: LatamReady, which offers multilingual customer support. With headquarters in Miami and operations in Lima, Peru and Sao Paulo, Brazil, our experts offer outstanding customer care in fluent Spanish, Portuguese, and English.

Myth #2: You Need Teleportation Power

How much easier would your job be if you could snap your fingers and teleport across the globe? 

Tax laws in Latin America vary from country to country and are constantly changing. Keeping up with the latest rules and regulations can seem impossible even for corporations with sizable accounting departments. 

If you could magically teleport or run as fast as the Flash, then you could meet directly with the local tax authorities in Mexico, Brazil, Colombia, and the rest of the region. SUNAT, DIAN, Fazenda — you could finally remember all those different acronyms and keep up with their latest tax requirements. 

A more realistic option? Obtaining a tool that connects to local tax authorities in each country and carefully tracks the changes to tax regulations. 

While we may not move at supersonic speeds, our Built-for-NetSuite localization solution, the LatamReady SuiteApp, is updated every single month. As a result, corporations with Latin American subsidiaries never have to worry about last-minute tax changes and can remain focused on growing revenue.

Myth #3: You Need to Be a Mind-Reader

The top ERP sales reps may seem like they can read the minds of CEOs and CFOs and present solutions before they even hear about the problems. But that’s not a superpower — that’s experience. 

At LatamReady, we don’t read minds because we don’t have to. We already know the challenges corporations face in Latin America — and we have the solution. 

With over 10 years of experience and 100+ NetSuite experts, LatamReady is the biggest and most experienced team of ERP and tax compliance experts in all of Latin America. Our experts have worked with 150+ global corporations from a wide range of industries and are extremely knowledgable when it comes to Latin American tax challenges.

In fact, we have developed the LatamReady SuiteApp to solve specific tax problems that are present in 18+ Latin American countries. You can see for yourself below:

Crush Your Competition with the LatamReady SuiteApp

If you want to be a true guardian of the ERP galaxy and crush the competition in Latin America, partner with LatamReady

Our innovative Built-for-NetSuite solution, the LatamReady SuiteApp, extends the power of NetSuite and simplifies and automates complex back-office accounting processes. It is updated on a monthly basis to keep up with the latest changes in local tax regulations. 

The LatamReady SuiteApp Version 2021.1 includes all the following features: 

  • LatamTaxLatamReady‘s exclusive technology for supporting withholding taxes requirements in Brazil, 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 CalculationLatamReady has partnered with Brazilian tax intelligence company Systax, a leading local tax engine calculator that automatically updates sales tax rates into NetSuite transactions.

Bonus: NetSuite Resources from LatamReady

As a leading partner of NetSuite in Latin America, we have developed an impressive network of NetSuite resources, including webinars, demos and more.

Schedule a meeting with a LatamReady sales representative today: