Head of Editorial Sift Media
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NetSuite launches OneWorld 2011

21st Oct 2011
Head of Editorial Sift Media
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NetSuite has revealed the newest version of its global services business-focused NetSuite OneWorld product, which includes:

  • increased global financial consolidation capabilities
  • 40 formatted tax compliance reports, up from seven last year
  • expanded support for international taxation and audit reporting
  • advanced inventory costing capabilities
  • A fixed assets module and for wholesalers and manufacturers

As with earlier releases, OneWorld 2011 is pitched at companies operating multiple subsidiaries with multiple tax jurisdictions and often running two-tier enterprise resource planning systems.

Accounting modules can now be locked on a subsidiary-by-subsidiary basis, which NetSuite argues improves controls and accountability during monthly and annual closing. Customers can also use a new feature to slice and dice data within the system, rather than off-loading it to an Excel spreadsheet.

NetSuite is also boosting its security capabilities through a new partnership with CA Technologies. Under the agreement, CA's two-factor authentication technology will be applied on NetSuite's back-end systems and sold as an option to customers.

Mini Peiris, Vice President of Product Marketing, NetSuite, commented: "Powering our two-factor authentication with CA Arcot WebFort demonstrates NetSuite's commitment to bringing enterprise-class security to businesses of every size."

Netsuite earlier this week came out tops in the Enterprise Accounting category at the Software Satisfaction Awards.

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