NetSuite – which this week came out tops in the Enterprise Accounting category at the Software Satisfaction Awards - has revealed the newest version of its global services business-focused NetSuite OneWorld product, which boasts:
- 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:
