NetSuite OneWorld PH Puts Philippine Local and Global Business Management in the Cloud

NetSuite Inc. (NYSE: N), the industry’s leading provider of cloud-based financials / ERP software suites, today announced NetSuite OneWorld PH, the first cloud-based ERP suite for the Philippine market. NetSuite OneWorld PH is a fully localized version of NetSuite OneWorld, the first and only on-demand system to deliver real-time global business management and financial consolidation to mid-sized companies with multinational and multi-subsidiary operations. This powerful cloud technology for complex, multi-national companies is currently in use at some of the Philippine’s leading companies including Jollibee Foods Corp., ABS-CBN and Antech, makers of Dr. Edwards Water. For more information about NetSuite PH, please visit www.netsuite.com/NetSuitePH.

NetSuite OneWorld PH has been fully localized for the accounting rules, usage conventions, statutory and regulatory requirements of the Philippine market, including tax reporting requirements mandated by the Bureau of Internal Revenue (BIR). NetSuite OneWorld PH is the perfect solution for Philippine businesses to manage their domestic and global businesses in the cloud, whether they are locally headquartered or a division of a larger, multi-national enterprise.
NetSuite has long been the industry leader in cloud-based computing solutions, enabling mid-sized companies and divisions of large enterprises to manage key business processes from Financial Consolidation to ERP to CRM and Ecommerce with unparalleled flexibility, ease of use, and cost efficiency. The unique power of NetSuite OneWorld is fueling NetSuite’s global growth. According to a report published in April 2010 by Gartner, from 2007 to 2009 NetSuite grew market share faster than any other ERP vendor, amongst the top 10 financial management solution across North America, and in key markets in Europe and Asia-Pacific.

The introduction of NetSuite OneWorld PH is perfectly timed in response to growing demand for cloud solutions in the Philippines and throughout the region. Companies in the Asia/Pacific region (APAC) are abandoning traditional, archaic ERP systems that are among the most time-consuming and expensive technology investments in the business world in favor of efficient and cost-effective cloud computing solutions. According to Springboard Research, APAC companies will spend nearly US$2.3 billion on cloud solutions by 2012. In fact, 45 percent of APAC companies already use, or plan to use, cloud solutions—a figure which doubled in just one year.

"NetSuite OneWorld PH represents the perfect opportunity for companies operating in this market to streamline their path to compliance with BIR requirements, and gain greater control over both their local and multi-national operations," said Craig Sullivan, Vice President and General Manager, International for NetSuite.