OREANDA-NEWS. NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based financials / ERP and omnichannel commerce software suites, strengthened its commitment to the Asia region with new a global product, new channel partners and new customer announcements at its CXO Summit being held in Singapore. NetSuite introduced NetSuite OneWorld for Singapore and Hong Kong as well as for multinationals doing business across Asia. In addition, the company announced new partners joining NetSuite’s vibrant partner ecosystem and new customers running their mission critical business processes on NetSuite cloud ERP. The combination of the rising demand among regional businesses for NetSuite cloud ERP, partners’ desire to thrive in the cloud model created by NetSuite, and Southeast Asia’s business-friendly environment and free trade is driving NetSuite’s accelerated business growth in Asia.

“Our long history in Southeast Asia and the dynamic business environment that has emerged in recent years, make expansion in the region a strategic imperative in NetSuite’s next phase of international growth,” said NetSuite CEO Zach Nelson. “Our announcements today demonstrate the success we’ve seen already and our deep level of commitment moving forward.”

Since it first entered Singapore in 2005, NetSuite has established a strong footprint in Asia and has taken the lead as the #1 cloud ERP software vendor in the region. Due to NetSuite’s powerful OneWorld product, NetSuite has a large number of global enterprise customers operating subsidiaries in Asia. In Singapore, NetSuite has more than 212 subsidiaries and legal entities of companies like Mazars and American Express Global Business Travel running their mission critical business processes on NetSuite OneWorld, and more than 150 in Hong Kong. The NetSuite OneWorld solution provides companies with multi-subsidiary management and global financial capabilities to run business operations in the region in a two tier model, implementing NetSuite at the subsidiary level while maintaining their legacy, on-premise systems at headquarters.

Market Opportunities

Singapore is widely seen as the business hub for Southeast Asia for its world-class infrastructure, high mobile and Internet penetration and strong government support for business. There is also a tremendous opportunity for growth with the establishment of the ASEAN Economic Community (AEC) in 2015, creating a regional economic force. With AEC, the borders of member states (Singapore, Malaysia, Indonesia, Philippines, Thailand, Vietnam, Brunei, Cambodia, Laos, and Myanmar) were officially opened to the free flow of trade, labour and capital, creating an enormous market: the region has over 622 million people, and when combined, has a GDP of USD $2.6 trillion, making it the third largest economy in Asia (behind China and Japan) and the world’s seventh largest. The lowering of trade barriers and tariffs creates a more competitive environment for local businesses as nimble new entrants or well-capitalised multinationals enter the market.

Hong Kong, widely viewed as a gateway to China, has been the ASEAN region’s largest trading partner since 2009, while ASEAN has been China’s third-largest trading partner, thanks to a Free Trade Agreement between the two. The combination of a unified AEC and growing demand from the Chinese market creates a huge opportunity for businesses in the region.

“Businesses in Hong Kong and Singapore are already reaping the rewards of open trade and global expansion,” said Zakir Ahmed, Vice President and General Manager, NetSuite Asia. “NetSuite OneWorld is giving these businesses the flexibility and agility to fully capitalise on the current cycle of growth.”

New Partnerships

NetSuite works in close collaboration with its channel partners in Asia to combine strong skillsets in cloud computing, end-to-end business processes, local, regional, global, and industry knowledge for the benefit of customers. NetSuite continues to make significant investments in its existing partners and to recruit additional partners to meet the growing demand for the #1 cloud ERP from companies across the region. As partners seek to thrive in a cloud model, they turn to NetSuite for business model transformation to fully capitalise on the revenue growth opportunity of the NetSuite cloud. The growing list of NetSuite’s channel partners in the region today added the following companies:

  • 3PL Total Technology, founded in 2009, 3PL Total Technology focuses on cloud warehouse management solutions (WMS) for third-party logistics providers in Hong Kong and other pan-Asian markets. NetSuite’s cloud-based ERP is the ideal complement for 3PL providers who must manage relationships with multiple customers in real-time, many of which have different operational flows on the warehouse floor and different billing arrangements in the back office.
  • CuriousRubik, a multidisciplinary team of logical and business problem solvers based in New York with offices in Singapore, Hong Kong, Sydney, Shanghai, Bangkok, Tokyo and San Francisco who have extended their partnership with NetSuite in Singapore focuses exclusively on NetSuite soloutions and was founded to help its clients move to the cloud, either by migrating away from legacy on premise platforms or new businesses. Customers in the wholesale/distribution, retail, and professional services verticals in particular turn to CuriousRubik for global experience and consulting expertise. Many clients in the wholesale/distribution space currently run their business on basic systems and stand along spreadsheets which require multiple dedicated administrators.
  • Doji Media was founded in January 2015, with the goal of bringing better ERP and customer relationship management (CRM) solutions to the nearly 200,000 SMEs (Small Medium Enterprises) in Singapore. Doji Media delivers end-to-end business solutions designed to help small and medium sized businesses efficiently reach customers locally and those who are expanding their businesses globally. Shortly after starting operations, the company recognised the need to go to market with a sophisticated, mature cloud-based solution for financials and CRM, and embraced the NetSuite philosophy. Doji Media works with SME clients to secure government grants and financial support to make adoption of refined solutions like NetSuite easier for smaller businesses.