When a NetSuite-using company seeks to expand into the Latin American market many times a lot of complications arise such as lack of compatibility with external solutions or lack of knowledge about all the fiscal processes and regulations in the various countries of the region.
Fortunately, for the NetSuite-using companies, localization in this region can be achieved with a “Built-for-NetSuite” solution called the LatamReady SuiteApp.
Localization within NetSuite: the LatamReady SuiteApp
The LatamReady SuiteApp is a solution that extends the power of NetSuite throughout the Latin American region by facilitating the execution of the various tax procedures in the different countries in which the company is located or to which it wishes to expand.
Oracle NetSuite localization helps foreign companies to succeed in Latin America by integrating the corresponding tax regulations of each country to challenge electronic invoicing and accounting procedures.
That’s right! With NetSuite and the LatamReady SuiteApp it’s possible to understand the tax requirements of each country and offer tools and solutions to companies for answering to them in the best possible way.
Features of the LatamReady SuiteApp
In addition, the LatamReady SuiteApp offers 5 features that will help companies overcome all Latin America tax challenges and face localization in this region in an efficient way:
- Electronic Invoicing: To manage Electronic Invoices, Credit and Debit Notes, Waybills, and more with a simple click and within NetSuite.
- Tax Determination and Tax Information Reporting: In order to make it easier to comply with local tax reporting requirements throughout the region with updated monthly and annual tax information forms.
- Tax Rules and Tax Calculation: To support all types of taxes and withholdings throughout the region.
- Electronic Payments: To make bulk electronic payments following specific local formats at dozens of banks throughout Latin America.
- Inventory Items Tax Calculation: For being able to automatically update sales tax rates into NetSuite.
What are the benefits of using this SuiteApp?
The LatamReady SuiteApp, being a native SuiteApp and verified by NetSuite, offers a lot of benefits:
- It is 100% native: it works natively within NetSuite and it is verified as a “built for Oracle NetSuite” solution.
- Real-time visibility and access from any device, anywhere in the world and at any time because it is in the cloud.
- Greater organization in terms of accounting, financial and commercial information of the company.
- It is 100% compatible with Latam Tax and Suite Tax, its new version.
- It has certified and authorized local suppliers in each country of Latam, in order to always be updated on all changes in tax regulations.
- It supports multi-booking, which allows you to keep more than one accounting in the same company: local tax, corporate, dollarized, etc.
- It has monthly updates, previously tested and validated in coordination with the client, technical support and the project team.
- Its installation is done on a subscription basis, which makes it flexible and modular: it is possible to choose the functionalities and country coverage according to the company’s needs.
Conclusions
So, now we know that…
- Achieving localization in Latin America it’s possible with you Oracle NetSuite ERP, thanks to the help of the LatamReady SuiteApp.
- This SuiteApp eases the execution of the various tax procedures in the different countries in Latin America which the company is already located or to which it wishes to expand.
- With its 5 features companies overcome all Latin America tax compliance challenges and face localization in this region in an efficient way.
- This SuiteApp offers the benefits of the Oracle NetSuite Cloud ERP and also those related to achieving full tax compliance in Latin America.
- The LatamReady SuiteApp is a Built-for-NetSuite SuiteApp that facilitates full tax compliance for more than 18 countries in Latin America thanks to its 5 features.
How does the LatamReady SuiteApp power up Oracle NetSuite?
Do you already trust the power that Oracle NetSuite Cloud ERP brings to your company? Then you would love to extend its power by unlocking any Latin American country with the LatamReady SuiteApp.
Why LatamReady?
We are the #1 Oracle NetSuite partner in Latin America that, through the best ERP worldwide, will help you adapt to changes and grow your business.
Why should you choose us? Find out here.
Become a NetSuite expert with the LatamReady SuiteApp in our LatamDojo!
We want YOU to become the expert! That’s why we have a surprise: an e-learning platform (for our customers only) known as LatamDojo.
But… What is LatamDojo? What does it offer? Why should I use it? Here are the answers!
Chart a bold new path by adopting modern solutions for tax compliance challenges in Latin America with the LatamReady SuiteApp.