The other big package unveiled was OneWorld 16. NetSuite CEO Zach Nelson modestly called the new edition, "the last ERP system you'll ever need" and at one point during his keynote at the conference said no one would likely improve on it over the next 2,000 years. The new system supports secondary books consolidation and financial reporting for businesses that wish to maintain their own accounting policies while complying with local accounting rules. OneWorld 16 provides global vendor management with the ability to performance such functions as setting credit limits, across multiple companies and merging vendor records across subsidiaries. It can also handle tax calculation and reporting requirements in more than 100 countries.
NETSUITE ROLLS OUT ONEWORLD 16 Featured
NetSuite unleashed a flood of announcements at this week's SuiteWorld conference in San Jose, Calif. Among the most notable was the introduction of SuiteBilling. The press release announcing the application said, "It is the industry's first and only comprehensive cloud solution that synchronizes complex processes from order to billing to revenue recognition, all within one system." [More about SuiteBilling in an article on Rev Rec].
