Going Global using NetSuite: must-know facts for Latin America

Expanding globally is a necessary but difficult task, the challenges that come with growing are managing electronic invoicing, legal ledgers and taxes or withholding taxes; but they also include the need for greater transparency in order to gain an accurate understanding of operations across all branches or subsidiaries within your business empire. These challenges can be achieved by relying on the super-structure such as the NetSuite Cloud ERP plus top notch technology SuiteApps like LatamReady.

At SuiteWorld in Las Vegas, Oracle NetSuite customers shared their experiences which included expanding globally and rolling out an enterprise-wide ERP system. The discussion at this panel session included Mark Hearn, Global Program Director of PageGroup – a professional recruitment specialist with 130 offices in 36 countries, including several subsidiaries in LatAm.

PageGroup shared their experience implementing NetSuite globally, and agreed that a global ERP system –such as NetSuite– extended with local tech solutions, can make an incredible difference. For example, being able to get accurate data quickly is invaluable for decision-making purposes, especially when it comes down to time investment in training employees on what’s changed or not changed since last quarter.

Here’re some of the key takeaways that you’ll gain by implementing an ERP if you’re going global:

Allocating the right amount of time to change management can be difficult. If you put in estimates on what work would take and then it doubled, it’s because you underestimated how much work needs to get done before work begins again next semester.

The ERP way may be better.  The implementation can ease the improvement of some processes for employees along the way too. On top of that, the Oracle NetSuite Cloud ERP gives the company the possibility to enhance its features by technology extensions within the ERP known as SuiteApps or Solutions, such as LatamReady when it comes to Latin America subsidiaries.

When it came to making their business different, each country wanted something new and faster. PageGroup’s approach involved talking less about how they were doing things instead focusing on giving them what the client needed for success – “a quicker horse.”

NetSuite is deploying one instance across 36 countries for The PageGroup. “If I do a year,” said Mark Hearn, “the company has limited patience.” They’re looking at big projects with an enterprise-wide perspective—ripping off the band aid if you will! So far they’ve started by rolling out their software in chunks.

Consider extending NetSuite with SuiteApps. E-invoicing, legal ledgers and taxes & withholding taxes in Latin America can make for some really interesting decisions. For example, if you’re operating a business with multiple locations it’s important to account for the taxes that will be imposed on your different branches – this could mean up to 3 million possibilities depending on where all those places are situated.

Move fast in unstable geographies. This is key. And a perfect example is Latin American operations: besides the region’s economic and political instability lately, businesses with the right structure and processes technology have prevailed. You have to account for these unstable geographies when you’re setting your rates, because the exchange rate can change by 5% in one day. It’s important to know that last year’s plan is totally different now – if you take too long your budget will just disappear.

LatamReady’s solution, used by PageGroup in Latin America, is designed specifically for the challenges faced by multi-national companies who want their global expansion plan executed with greater transparency – contact us today for more information!

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: 

  • The LatamReady SuiteApp operates 100% within the Oracle NetSuite Cloud ERP –“Built-for-NetSuite”– meaning that your tax compliance solution will work natively inside NetSuite
  • The LatamReady SuiteApp is the solution for electronic invoicing, legal ledgers, taxes and withholding taxes that works in 18+ Latin American countries. 
  • 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. 

Chart a bold new path forward by embracing modern solutions to tax compliance challenges in Latin America with the LatamReady SuiteApp. 

Published by LatamReady: Oracle NetSuite Partner

Founded in 2009, we have over a decade of experience implementing Oracle NetSuite in multiple industries and helping international corporations unlock growth with the LatamReady SuiteApp, an integrated Tax Compliance solution within Oracle NetSuite for 18+ countries in Latin America, including Brazil, Mexico, Colombia, Chile, Peru, Argentina and more!

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