NetSuite China authorized Provider-Localization solution implementation case!

Source: Internet
Author: User

There is a significant trend in medium-sized companies around the world: an increasing number of international SMEs have taken China as a base for their global operations. In the past, many international companies had to create headquarters in the United States or Europe before entering China, but today's internationalization of medium-sized enterprises in Shanghai or Beijing to create a head office becomes very common. Given the growing influence of these cities in the global economy, this is not surprising.

However, the expansion of business outside of China has brought many challenges to the company is also not to be overlooked. One of the challenges lies in information management systems: Many Chinese companies use locally developed ERP or financial management systems like UF and Kingdee to manage their financial and customer data, because these systems are developed in line with China's GAAP. But the localization of these systems limits the company's business development in other Asian regions outside China. This means that Chinese companies want to expand their overseas business to face two options: they can choose an international ERP system to replace local brands such as UF and Kingdee to support their overseas institutions, or they can maintain the original system and buy other systems to separate management of their overseas institutions.

It is not ideal for company executives to use dissimilar systems in different regions. If the data is stored in different systems, it is difficult to achieve the visibility of the company's performance in the global institutions. Such a system management model is time-consuming and cost-intensive for those at the top level who closely monitor the development of each subsidiary.

But replacing the existing system is not an excellent choice. After all, using a local ERP system such as UF and Kingdee requires investment in hardware such as database servers and application servers, and if replaced by an international ERP system, this investment is wasted.

How NetSuite Cloud computing Systems Drive global expansion

In fact, several Chinese companies have invested early in an ERP system that can adapt to global business growth to meet the challenges of their global business expansion. ICD is a Beijing-based security technology company, founded in 1999, for the Asia-Pacific 500 companies to provide security services, its business coverage in China, Southeast Asia, India, and set up sales offices in North America. Their services include Web site security system design and implementation, security system maintenance support, access management, system hosting, and a range of security consulting services. Their clients include some of the most valuable companies in the world.

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When ICD began planning their business growth in the global scale in 2005, they decided to invest in an American cloud computing ERP system, NetSuite. ICD selection NetSuite especially values its cloud computing architecture, which enables all users to connect to the system across the world. This means that even the smallest representative of the ICD can access the NetSuite system without having to install the system hardware in the subsidiary or invest in the VPN network connection.

This means that ICD will no longer need to worry about the cost of investing in additional system hardware while deciding to expand new companies. When ICD initially decided to set up a branch office in India, it took only a few hours to start the operation Management of the subsidiary in the system, eliminating the need to spend a week in the hardware setup of the ERP system.

The most objective advantage of deploying a system that is easy to support global operations is that ICD can very easily collect and consolidate financial data, including the financial performance of each subsidiary, and even the profit of every service item worldwide. This allows the company's management to look at the company's global operations in detail, and ICD's management can therefore make more effective strategic decisions.

Other advantages---Improve the ICD customer service experience with NetSuite

In addition to the visibility of global business for ICD executives, NetSuite also helped ICD in a variety of other ways. ICD uses the integrated CRM system included with NetSuite in each branch office, allowing the sales Director to browse the global aggregated report on sales channels in real time within a week. The product inventory managed by NetSuite enables global sourcing teams to monitor global product inventories and make demand budgets with great ease. NetSuite also helps ICD to provide support services to its customers. When ICD helps a customer deploy a security system, they continue to provide system maintenance services to ensure the effective operation of each aspect of the system. The services are managed through the NetSuite Global Support Center module, which allows customers to monitor their query processes from around the world through user accounts assigned to them.

The benefits of NetSuite for ICD are that ICD provides a highly standardized and high-quality service experience for its customers around the world, especially for the world's top 500 companies that require continuous security services from all branches of the world.

Don't ignore China! How NetSuite is localizing to support ICD operations in China

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Expanding the global business is one of the most important development strategies of ICD. But China's business operations, especially in business centers such as Beijing and Shanghai, are particularly important to develop their business. For this reason, it is necessary for ICD China's finance team to generate financial statements in compliance with China GAAP through the NetSuite system. As a result, ICD found NetSuite's Chinese co-licensees trigger networks trig to help their China operations implement a localized financial reporting solution. Trigger Networks Trig is one of the earliest providers of cloud computing ERP in China and the first to develop a netsuite system that directly generates a financial localization solution without relying on a netsuite domestic licensor that integrates with third-party software applications. This solution enables ICD to directly generate standard reports in accordance with China GAAP in NetSuite systems with just a few clicks.

Summary: NetSuite's advantages for fast-growing SMEs

By using NETSUITE,ICD 50 employees in 2005, 4 subsidiaries, annual revenue of $4 million expanded to 250 employees in 2014, 7 countries, global sales of $35 million. With a standardized service experience using NetSuite, efficient inventory and project management, ICD has developed into a trusted security solution partner for the 500 companies in all industries across the Asia Pacific region, and is able to continuously develop strong business strategies to drive future global business growth.

NetSuite China authorized Provider-Localization solution implementation case!

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