These days, most organisations use software platforms to manage and control different parts of their business. As they grow, for example through M&A or partnerships, so does the number of systems they rely on. This presents an integration challenge – of both systems and their data – that becomes more and more complex as the company grows, expands or is acquired. Once businesses expand into multiple countries and jurisdictions with different legal, accounting and tax standards, integration gets even more complex.
This is where a global enterprise resource planning (ERP) system comes into its own. It deals with this integration challenge by streamlining and standardising operations internationally – from finance and accounting to CRM, supply chain and inventory. With a global ERP, you can operate consistently, wherever you are in the world.
But what are the signs adopting a global ERP could be a valuable move?
Top Three Signs It’s Time to Adopt a Global ERP
As companies expand, operating in more countries, the cracks in disconnected systems become harder to ignore.
Is it time for you to graduate to a global ERP? These tell-tale signs will help you gauge whether a unified global ERP will simplify complexity, improve accuracy and speed up decision-making for your business.
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You Have Duplicate ERP Solutions in More than One Country
Running many subsidiaries across different countries can be a coordination nightmare if systems are not aligned and integrated, especially if group companies use point solutions instead of (or as well as) ERP. A global ERP system, on the other hand, provides a single, consistent view of operations across all your locations. This means less manual effort, faster information flows and better-informed decisions.
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You Reconcile and Consolidate Finance and Accounting Data Manually
When local finance systems are siloed, reconciliation must be done manually. It's a costly, time-consuming and risk-prone process, especially when subsidiaries operate under different legal and tax regimes. Global ERP solves this issue by automatically consolidating and reconciling financial data, removing the problems associated with manual data transfers and isolated, spreadsheet-based data. Financial close is faster, too, as the HQ team no longer has to wait for colleagues in other countries, or standardise data from different formats.
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You Struggle to Keep pace with Multiple Tax, Accounting and Legal Requirements
It’s hard enough to manage a business across several jurisdictions. It’s harder still when regulations and accounting standards are in a constant state of flux – and minor changes in one location can easily impact partners and customers in another. A good global ERP system is designed to remove this risk, by automatically operating according to the latest tax, accounting and regulatory rules in each country. This also means your customers can rest assured that the information they receive is in line with the regulations in their location.
Adopting a global ERP platform enables you to bring financial reporting under one roof, harmonise business processes across regions and eliminate time-consuming manual work. Selecting a mature, well-established solution also provides confidence that your operations remain compliant with local regulations and aligned with country-specific business practices.
The NetSuite Difference
NetSuite is recognised as the world’s most widely implemented cloud ERP, supporting more than 43,000 organisations worldwide, including many Fortune 100 enterprises. NetSuite OneWorld is designed for multi-country operations, with functionality spanning 190+ currencies, 24+ languages, deployments in over 220 countries and territories, tax calculation and reporting in over 100 jurisdictions, and compatibility with more than 90 payment formats. This enables seamless multi-currency consolidation and real-time financial visibility across accounts receivable, accounts payable, payroll, billing, inventory, invoicing and order fulfilment, from local subsidiaries through to regional hubs and global headquarters.
NetSuite has extensive experience helping organisations implement scalable, future-ready global ERP platforms. Explore NetSuite OneWorld to see how we help international businesses to achieve faster, smoother and more controlled expansion.
