Businesses around the world are experiencing unprecedented challenges during these uncertain times. Margins are tight and future projects are being recalibrated to reflect new international travel restrictions and the transition for many companies to “teleworking” mode.
The massive disruptions to business as usual have left some international companies reconsidering plans to roll out Oracle NetSuite to Brazil, Mexico or other parts of Latin America. After all, normal NetSuite rollout strategies that involve onsite training by consultants just are not possible under the current conditions.
However, with every challenge there also comes opportunity. NOW is the time to be flexible and adapt to the evolving reality. International corporations with subsidiaries in Latin America must change their mode of operation if they want to survive this tough period and thrive in the future.
Now more than ever, it is critical to have a modern enterprise resource planning (ERP) system like Oracle NetSuite and an innovative tax compliance solution from the most experienced team of NetSuite experts in Latin America — LatamReady.
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Oracle NetSuite in Latin America: a Modern ERP for Modern Times
Over time, one ERP solution provider has truly established itself in Latin America: NetSuite. In 2016, Oracle announced that NetSuite was now a member of the Oracle Cloud Family — both as part of the company’s portfolio for small and medium enterprises as well as the two-tier ERP approach for large corporations.
Today, Oracle NetSuite is the #1 cloud ERP in the world and has a strong presence in Latin America with partners like LatamReady. Never before has locating key financial and operational processes in the cloud been so important for multinational corporations. With Oracle NetSuite, companies can transform, engage, and modernize their businesses and liberate themselves from antiquated PC-based systems that require onsite access and updates.
Cloud-based, mobile-enabled and social, NetSuite shatters limitations with a game-changing solution built specifically to adapt to various industries. Users across a global organization can easily access key information via any device, at any time. NetSuite’s dynamic, easy-to-use platform is designed for the 21st century and perfect to overcome the current global challenges.
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NetSuite Is the #1 Cloud ERP in the World
Here are a few fast facts about Oracle NetSuite Cloud ERP:
- NetSuite boasts top cloud performance and experience in Latin America.
- NetSuite has been implemented by more than 40,000 organizations worldwide.
- NetSuite is 10 times larger than the nearest competitor. This means NetSuite can leverage 10 times the resources on behalf of its clients in Latin America.
- NetSuite is a 100% cloud-based ERP software, enabling CEOs to access key financial information anywhere in the world using the internet — even on their phone.
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What Is the Ultimate Tax Compliance Solution Within NetSuite in Latin America During These Uncertain Times?
During these uncertain times when resources are stretched thin, it is critical for companies to remain tax compliant to avoid penalties, fees and other negative outcomes. However, dealing with the complex tax and legal systems in Latin America has long caused headaches for large international corporations operating in the region.
Latin America is known around the world for having complex and difficult to understand tax regulations. For example, in Brazil, international corporations must follow the government’s confusing rules for classifying services and inventory items. Different taxes are applied to services and goods and tax rates also vary depending on which state within Brazil business is conducted.
If that was not confusing enough, tax regulations change frequently in Brazil and in many other countries across the Latin American region, leaving corporations desperately trying to keep up with the most recent requirements.
That is where NetSuite and the LatamReady SuiteApp come in.
With the LatamReady SuiteApp, multi-Latin corporations that use NetSuite can easily manage complex back-office accounting requirements and achieve full tax compliance in 18+ Latin American countries, including Brazil, Mexico, Colombia, Peru, Chile, Argentina and more! The innovative SuiteApp can save companies valuable human and financial resources during this critical period.
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LatamReady Is Invested in the Future of NetSuite in Latin America
Established in Miami 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 customers from all over the world and users all across the region, LatamReady is invested in the future of NetSuite in Latin America. The growing company is 100% cloud-based, a business model that is uniquely adapted to overcome and even thrive during the current worldwide situation. Indeed, LatamReady is well positioned to continue providing international companies with the solution they need to achieve incredible growth and sustained success in the region.
A diverse collection of over 100+ professionals, LatamReady has the largest team of NetSuite experts in all of the Latin American region. Already in 2020, LatamReady has welcomed a new Brazilian NetSuite team aboard in Sao Paulo, which will operate locally in the epicenter of the Brazilian economy. The LatamReady team members provide outstanding customer support in fluent English, Spanish and now Portuguese and always honor NetSuite best practices.
Initially supporting legal and tax requirements in just a few Latin American countries, the LatamReady SuiteApp has rapidly expanded its capacity to help international corporations achieve full tax compliance across the region. As of 2020, international companies with operations in Latin America rely on the LatamReady SuiteApp to achieve full tax compliance in 18+ Latin American countries, including:
- 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
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Boost Productivity with Essential Features within Oracle NetSuite
The LatamReady SuiteApp boasts all of the essential features businesses with subsidiaries in Latin America need to be productive and profitable during these challenging times. Each feature, from E-invoicing templates to the ability to set and control adaptable accounting rules, allows for greater efficiency and accuracy. The LatamReady SuiteApp features include:
- E-invoicing templates via NetSuite E-Invoicing SuiteApp.
- Withholding tax features that complement the NetSuite Withholding Tax SuiteApp.
- E-Payments templates via NetSuite Electronic Payments SuiteApp.
- Legal ledgers.
- Pre-printed formats.
- Taxes sync with standard NetSuite tax definitions for Latin America.
- Accounting rules.
- Transaction types.
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How to Avoid Costly Errors that You Cannot Afford
Every penny counts, especially during times like these. In addition to the features listed above, LatamReady’s automatic configuration scanner helps corporations avoid costly accounting and tax compliance errors. Whenever companies are set to go live with key NetSuite features or implementation, the LatamReady SuiteApp carefully scans the configuration before giving the green light.
During a time when margins are tight and there is little room for error, the LatamReady SuiteApp configuration scanner is a powerful tool for multi-Latin corporations.
In addition, companies powered by the LatamReady SuiteApp automatically stay up to date with the constant changes in tax compliance and reporting on a country-by-country basis. LatamReady has the experience, expertise and resources to track all of the latest developments and changes in tax laws across the entire Latin American region — perhaps the only NetSuite partner with this impressive capacity. This translates to companies spending fewer resources and wasting less time adjusting their internal processes, managing change, and checking for errors and data discrepancies to avoid penalties for noncompliance.
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LatamDojo Enables Remote NetSuite Training
Many international companies are shifting to a cloud-based teleworking model in order to continue operations during this difficult period. This requires new tools and resources to ensure workers can carry out their responsibilities remotely.
Hiring consultants to fly to different countries to oversee NetSuite implementation and training onsite is no longer possible. 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.
Not only does LatamReady provide customer care in multiple languages, but we also provide customers with access to LatamDojo, our exclusive E-learning platform. LatamDojo contains essential online NetSuite training courses and Latin American tax compliance courses in Portuguese, Spanish 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.
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The Advantages of a Built-for-NetSuite SuiteApp
In January 2015, the LatamReady SuiteApp became the first and ONLY tax compliance SuiteApp for 18+ Latin American countries to be technically certified by NetSuite via the Built-for-NetSuite program.
“Built-for-NetSuite” is an initiative to ensure that NetSuite Partner solutions meet the “same level of standards for security, data privacy and overall quality as the solutions offered by NetSuite,” according to the company’s website.
Why does that matter during times like these? International companies right now cannot afford to invest in solutions that do not work. With the LatamReady SuiteApp, CEOs can rest assured they are getting an outstanding return on their investment. Each SuiteApp release — two new versions each year — is subject to NetSuite’s rigorous verification process to ensure the app meets the company’s high-quality standards.
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Building Trust with Big International Companies
The LatamReady SuiteApp is the number 1 multi-Latin tax compliance solution for NetSuite. In fact, more than 100 leading global corporations have already put their trust in LatamReady. As a result, these companies have benefited from the simplicity of our Built-for-NetSuite tax compliance solution when entering or expanding in the region.
One example of the caliber of clients LatamReady attracts is Michael Page, the UK-based leaders in global specialized recruitment services. Michael Page has operations in 36 countries across the world, including multiple countries in Latin America.
During these uncertain times, Michael Page continues to rely on the LatamReady SuiteApp to achieve full tax compliance with all its subsidiaries within the Latin American region.
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NetSuite Resources for Uncertain Times
We do not have all the answers to questions and concerns about the current crisis, like how long these conditions will last or when it will finally be over. However, we can answer questions about the best way to roll out NetSuite in Latin America during these uncertain times.
One of the biggest advantages of working with an experienced, trusted NetSuite partner like us — especially during times like these — is the wealth of expertise and resources we can share with clients.
LatamReady has developed a robust network of NetSuite resources to help guide international corporations using NetSuite in Latin America during this challenging period:
- NetSuite in Latin America Demos: Our detailed demos provide step-by-step guidance regarding mandatory taxation fields within NetSuite for your Latin American subsidiaries.
- Online NetSuite Training Courses: As mentioned, LatamDojo, our exclusive E-learning platform, is home to essential online NetSuite training courses in Portuguese, Spanish and English. Online training is more important now than ever before.
- NetSuite in Latinoamerica 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.
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Is the LatamReady SuiteApp Right for Your Company?
The traditional strategy to roll out NetSuite in Latin America has been upended by the current global crisis — but that does not mean that opportunity has disappeared in the region. Savvy CEOs know they need to change their mode of operation to achieve growth in Brazil, Mexico and other countries across Latin America.
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. In today’s tumultuous times, easy access to financial information via the cloud is key.
- 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.
- 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 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.
Seize the moment by embracing the modern solutions you need to succeed in the current global business climate. Implement the world’s #1 cloud ERP and partner with LatamReady, the NetSuite experts in Latin America.
Contact us here: https://tinyurl.com/qtf4hc7 or call a LatamReady sales reps at +1-786-600-2641 today to get the ultimate tax compliance solution within NetSuite in Latin America.
Contact us here: https://tinyurl.com/qtf4hc7
LatamReady | Get the Comprehensive Tax Compliance Now!
Learn About NetSuite Online in Portuguese, Spanish or English
LatamDojo | E-Learning Platform for NetSuite in Latinoamérica
