Taking your business to global market may sound appealing but it is not that easy as it sounds. International expansion is all about establishing a fresh customer base, learning new laws, compliance and to follow these in order to avoid costly penalties. One of the bottlenecks in your international journey is International compliance and regulatory issues. However, it is quite daunting to learn different tax codes, & business regulations of different countries. Furthermore, regulators are very much concerned in investigating how organizations have integrated regulatory change into their businesses. In this hugely complex regulatory environment, organizations are struggling to understand the full scope of compliance risk landscape. To deal with rigorous compliance, growing regulatory challenges, and more frequent system-based tax audits have become the most challenging task for businesses having international ambitions. Organizations are leveraging technology to help achieve compliance, while minimizing risk from misconduct and regulatory investigations. With the help of technology, organizations are looking to strengthen their core risk management governance, controls, practices, and reporting.
Oracle NetSuite is a leading cloud-based financial management solution that helps your business to grow globally by delivering robust foundation for transparency, automation, simplicity and controls in the management of your global tax and compliance responsibilities. Available as true SaaS solution, NetSuite is used by thousands of global organizations to manage their finances. With NetSuite, organizations can speed up daily financial transactions, accelerate financial close while ensuring compliance. NetSuite enables businesses to have real-time visibility into the financial performance of the business from a consolidated level down to the individual transactions. By seamlessly integrating order management, inventory, CRM and ecommerce, NetSuite helps in streamlining critical business processes to ensure that your business system is ready to handle your international footprint wherever your company operates. With NetSuite, running a global business is very much easier as it can consolidate both at the subsidiary and parent entity level in an effortless manner. With its multi-language user interface, NetSuite bridges communication barriers to provide a flexible hierarchy that enables businesses to run their entire entity structure with ease.
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