NetSuite, Inc., the industry's leading provider of cloud-based financials / ERP software suites, today announced that Global Water Solutions, a leading global distributor of pressure vessels, doing business in 110 countries, has laid the foundation for continued worldwide growth with an implementation of NetSuite OneWorld to support eight international subsidiaries with multi-currency conversion capabilities and automated tax compliance at the local country level. Live as of November 2012, the NetSuite OneWorld implementation builds on the core NetSuite ERP system that Global Water Solutions has used since 2008 to run financials, CRM and multi-location inventory management. The company, headquartered on the island of Jersey, the British Crown Dependency in the English Channel, is among a growing number of wholesale distribution companies to turn to NetSuite OneWorld to fuel global growth with superior scalability, visibility and efficiency in the cloud and without the expense and ongoing maintenance and troubleshooting required of on-premise ERP systems to run multi-entity operations. For more information on NetSuite OneWorld, please visit netsuite.com/oneworldpr2.
The NetSuite OneWorld solution for Global Water Solutions' subsidiaries, and its original NetSuite implementation, replaced a QuickBooks system that was unable to meet the company's need for efficiency and real-time consolidated visibility with scalability to accommodate rapid business growth. NetSuite has given Global Water Solutions personnel in dozens of countries around the world anytime, anywhere access to critical business information, helping to speed processes, eliminate manual work and errors, and make informed data-driven business decisions. NetSuite has eliminated the need to manually recreate sales orders and purchase orders in QuickBooks while giving the company advanced multi-location inventory capabilities to manage stock and distribution from warehouses in Taiwan, Guatemala, the U.K., Puerto Rico, United Arab Emirates, Turkey, China, India, France, Italy and Spain. NetSuite supports Global Water Solutions' full lead-to-order-to-cash cycle with NetSuite CRM capabilities being rolled out to give internal and external sales representatives a comprehensive view of prospects and customers. Global Water Solutions selected NetSuite in 2008 after comparisons against about 10 competing solutions, including Sage 50 (formerly Peachtree) and Microsoft Dynamics GP (Great Plains).
With NetSuite OneWorld, Global Water Solutions (globalwatersolutions.com) has gained new capabilities for subsidiary management, global financial consolidation and reporting, and intercompany eliminations with subsidiaries in Turkey, Costa Rica, Luxembourg, Italy, the U.K.; a new subsidiary is scheduled to launch in China in May followed by one scheduled to launch in Brazil this summer. NetSuite's automated multi-currency conversion capabilities, covering more than 190 currencies, replaces what had been a time-consuming manual process in Excel. Global Water Solutions is also preparing to take advantage of built-in NetSuite functionality for VAT (value-added tax) compliance in the U.K., followed by other countries. Real-time visibility into subsidiary sales, expenses and inventory is giving Global Water Solutions a competitive edge as it expands business across six continents among OEM and distribution customers. Its broad range of pressure vessels for heating, thermal, pressure booster, water hammer, reverse osmosis and water well applications, both residential and industrial, are manufactured by its sister companies in Randolph, Mass., and Taichung, Taiwan.
"With NetSuite OneWorld, we're able to consolidate the financials of six subsidiaries into one parent company and better manage sales and inventory," said Dawn Rainha, Global Water Solutions Director of Finance. "Our staff around the world can see and use the OneWorld functionality with 24/7 global access from anywhere it's our digital filing cabinet."
"We have much more visibility now that everything is on the single NetSuite system inventory, currencies, sales data and more," Rainha said. "We're faster and more efficient and believe we have a sound ERP foundation for continued growth."
Today, more than 16,000 companies and subsidiaries depend on NetSuite to run complex, mission-critical business processes globally in the cloud. Since its inception in 1998, NetSuite (netsuite.com) has established itself as the leading provider of enterprise-class cloud business management suites for divisions of large enterprises and mid-sized organizations seeking to upgrade their antiquated client/server ERP systems. NetSuite excels at streamlining business operations as demonstrated in a recent Gartner study naming NetSuite as the fastest growing top 10 financial management systems vendor in the world. NetSuite continues its success in delivering the best cloud ERP/financials suites to businesses around the world, enabling them to lower IT costs significantly while increasing productivity, as the global adoption of the cloud is accelerating.
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