For international corporations rolling out NetSuite to Latin America, the different languages, currencies, and tax regulations across the region can all be significant obstacles.
Achieving full tax compliance and exercising greater control over operations both at home and abroad has never been more important — but how can businesses harness the full power of NetSuite in the Latin American region?
With over 12 years of experience as a certified NetSuite partner, LatamReady has developed a robust and efficient process to help international corporations using NetSuite expand to new markets in the region.
#1: Zero Language Barriers
Language barriers can easily lead to communication breakdowns and costly misunderstandings. That is why is it so important for international corporations with subsidiaries in multiple Latin American countries to work with a multilingual NetSuite partner.
LatamReady is headquartered in Miami, Florida and has operations in Lima, Peru, and Sao Paolo, Brazil. It is no surprise, then, that our diverse team is equally adept at working with decision-makers in the United States or Europe; local NetSuite users across Spanish-speaking Latin America; and local users in Brazil who speak Portuguese.
#2: Always in the (Time) Zone
Another common challenge of rolling out NetSuite internationally is coordinating a team that may be spread across several different time zones. Sharing calendars can help coordinate the best times for virtual meetings when everyone is online — and awake!
An even smarter strategy is to choose a NetSuite partner that operates in the same timezone as where the project is based. Having local offices in Peru and Brasil means that LatamReady’s team of experts is always available to field questions or handle issues that may arise for any project in Latin America.
#3: Single Solution for Tax Compliance Challenges
Tax regulations in Latin America are already complex enough — there is no need to add more confusion by choosing different tax compliance solutions for each subsidiary in the region!
Over 150+ international corporations have already included the LatamReady SuiteApp in their NetSuite roll out to Latin America. The LatamReady SuiteApp is the ONLY certified NetSuite SuiteApp that delivers full tax compliance in 18+ Latin American countries.
Partnering with LatamReady means just one point of contact, one set of training and testing standards, and one simple solution for all tax compliance challenges in the entire Latin American region.
#4: Adaptable Features that Fit Your Needs
Adaptability is key during these times of constant change. Instead of using a standard, one-size-fits-all approach, LatamReady provides options to better meet your unique business needs.
For example, many international corporations first turn to the LatamReady SuiteApp because they need a solution for electronic invoicing. Our innovative SuiteApp can produce accurately formatted E-invoices from inside of NetSuite with just a few clicks of a button! Just as important, this popular feature is available in 3 different versions:
- 1-by-1 — Generate and send one invoice at a time
- Bulk — Generate and send up to 250 invoices at a time
- Unlimited — Generate and send thousands of E-invoices as needed
#5: ConnectION with Local Experts
At LatamReady, we have established strong ties to local players in Brazil, Mexico and more than 10 other Latin American countries. In Brazil, for example, we work closely with OOBJ, a recognized local E-invoicing supplier. OOBJ is a pioneer in the development of E-invoicing solutions in Brazil and even serves as the official E-invoice receiving system in several Brazilian states.
Thanks to our strong partnership with an E-invoicing provider certified by and connected directly to the local tax agency, international companies using the LatamReady SuiteApp never have to worry about whether their E-invoices are accurately formatted and comply with any future regulatory changes.
#6: the Power of Automation
During times like these, margins are tight and there is little room for error. That makes the tools LatamReady has developed all the more valuable for businesses who want to avoid costly fines for failing to achieve tax compliance. The LatamReady SuiteApp includes the following automation tools:
- 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.
#7: unlimited Legal Updates
Tax regulations in Latin America are constantly changing and evolving. With the LatamReady SuiteApp, subsidiaries in Latin America never have to worry about falling behind the latest legal requirements. A subscription with LatamReady SuiteApp includes unlimited legal updates along with 2 major annual releases and 12 additional monthly releases throughout the year. See the FAQ section below for more info!
#8: Take Advantage of E-Learning
Hiring consultants to fly to different countries to oversee NetSuite project implementation and training onsite is no longer possible. A new mode of training is required in 2021.
Fortunately, LatamReady is uniquely equipped to still provide international companies rolling out NetSuite in Latin America with the support services and training their workers need. We provide every customer with 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.
Workers can learn everything they need to know — in their native language — about NetSuite and tax compliance requirements in Latin America through LatamDojo. As a cloud-based E-learning platform, employees can learn anywhere they have an internet connection, including from their homes.
#9: Trust Experience
Founded in 2009 by CEO Carlos Zumaeta, LatamReady has been working hand in hand with NetSuite for over a decade, providing quality solutions to some of the leading global corporations with operations in Latin America.
With over 12 years of experience, 100+ NetSuite experts, and 150+ projects successfully completed, LatamReady is the biggest and most experienced team of NetSuite experts in Brazil, Mexico and the entire Latin American region.
- NetSuite in Brazil – 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
- NetSuite in more Latin American countries – See SuiteApp Features
#10: Online NetSuite Resources
- NetSuite in Latin America Demos: Our detailed demos provide step-by-step guidance regarding mandatory taxation fields within NetSuite for your Latin American subsidiaries.
- NetSuite webinars: Watch our NetSuite tax compliance webinars at LatamZone! We have a specialized team for each topic. You don’t want to miss what they have to say!
- LatamReady Blog: We frequently update our blog with the latest news and tips regarding mandatory tax compliance regulations in Latin America, so check back often!
- LatamReady YouTube Channel: Get all our latest videos on taxes and Oracle NetSuite in Latin America. Watch from anywhere, including at home!
- LatamReady on LinkedIn: Connect on LinkedIn to stay up to date with the latest developments and special offers.
Frequently Asked Questions
What Is the Project Timeline for LatamReady SuiteApp Implementation?
The standard implementation time for LatamReady SuiteApp is 8 weeks for Go-Live in 1 country. During the first few weeks of the engagement, all parties work together to finalize the project schedule in order to meet the targeted go-live dates.
After the Go-Live, the LatamReady team will monitor the use of LatamReady SuiteApp during the 1st month and the issuance of legal reports at the close of the 1st month.
It’s important to note that LatamReady SuiteApp implementation only starts once standard NetSuite user acceptance testing (UATs) is performed. For example, the Order-to-Cash process has to be defined and tested to then complement it with localizations for each country.
During LatamReady SuiteApp implementation, LatamReady will be responsible for configuring all of the following features for your company:
- Integration between LatamReady and certified E-invoicing providers or any complimentary certified vendors (local provider for tax calculation in Brazil certified by LatamReady)
- Country-specific Tax Compliance configuration
- Country-specific Tax Compliance training (LatamReady SuiteApp features training)
- Country-specific Tax Compliance forms and fields
- Country-specific Local PDF and Tax Compliance documents
- Country-specific Tax Compliance legal reports (Electronic ledger and data to be transferred to govt agency)
- Country-specific Tax configuration and upload of tax code in NetSuite
- Country-specific Multi-book Tax Compliance and use cases.
- Country-specific Bank payment template for LATAM countries.
How Often Is the LatamReady SuiteApp Upgraded?
Oracle NetSuite-certified versions of the LatamReady SuiteApp are rolled out twice a year. Each new version must be certified by Oracle NetSuite according to the rules of the Built-for-NetSuite program. As a native SuiteApp, LatamReady release dates are aligned with Oracle NetSuite’s own release dates.
In addition, we roll out monthly updates to the LatamReady SuiteApp on the 25th of each month. These 12 versions of our SuiteApp include new legal updates, features and improvements for all countries that are operating under the LatamReady umbrella.
All LatamReady SuiteApp customers operate with the same updated version of our tax compliance solution, so you never have to worry about falling behind the latest legal requirements in Latin America!
Is LatamReady SuiteApp Implemented in Isolation?
No! The LatamReady SuiteApp is implemented as part of a global NetSuite template, which means LatamReady’s professional services activities are delivered alongside your company’s broader NetSuite implementation project.
Activities including testing, training and cutover are delivered as a coordinated activity, so that the users see one ‘end-to-end’ solution and are not separately working with the localization features in isolation.
LatamReady SuiteApp is a ready-to-go bundle of features available to any NetSuite customer. During implementation, LatamReady is in charge of complementing and aligning the global NetSuite template with local legal requirements.
Is the LatamReady SuiteApp Right for My Company?
If you lead an international company using NetSuite and are considering rolling out projects in Latin America or scaling up in the region, consider the following:
- NetSuite is #1 Cloud ERP in the world.
- 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 has the largest team of NetSuite experts in the entire Latin American region and provides support and online training in English, Spanish and Portuguese.
- LatamReady has over a decade of experience helping big international companies using NetSuite to achieve tax compliance in the region.
- The LatamReady SuiteApp is the ONLY tax compliance solution certified by NetSuite that works in 18+ Latin American countries.
Chart a bold new path forward by embracing modern solutions to tax compliance challenges in Latin America. Roll out the world’s #1 Cloud ERP and partner with LatamReady, the NetSuite experts in Latin America.