ECOVIS NRW &
Oracle NetSuite Outsourcing
Achieving more together
What is Oracle NetSuite?
Oracle NetSuite is the world’s leading cloud-based business software offering integrated business management with Enterprise Resource Planning (ERP), CRM and e-commerce. It is used by over 36,000 customers worldwide. The software offers a wide range of features including ERP, business intelligence, professional service automation, CRM, global business management, financial management, planning and budgeting, accounting software, business analysis software and procurement software solutions.
Data exchange between companies and tax advisors
Entrepreneurs in Germany have to fulfill many legal requirements. Among the most important requirements are the principles of proper accounting (GoBD) and the fulfillment of tax law obligations.
For this purpose, companies call in local tax experts from law firms to support them in meeting these legal requirements.
The exchange of data between companies and tax firms is usually carried out from different software solutions, which usually costs companies a lot of time and money.
The data processed by tax experts must then be imported back into the current ERP system, which leads to additional work and often to transfer errors.
What function does Oracle NetSuite offer?
With Oracle NetSuite you can use all the functions of a classic ERP system. Furthermore, it is licensed as a software system by the GoBD. This means that companies in Germany are also allowed to use NetSuite for bookkeeping, advance VAT returns and other statutory reporting. At the same time, the software can be tailored to the individual needs of companies for internal purposes.
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How you benefit from the partnership between Oracle NetSuite and ECOVIS
Regardless of whether your company already uses Oracle NetSuite or is planning to introduce an ERP system, you will find tailor-made advice with us.
NetSuite is already used by you to manage internal processes
If you already use NetSuite, we can provide you with our services directly in the software environment. Our experts can, for example, prepare the bookkeeping in accordance with German legal requirements and submit the derived advance VAT return to the tax office – all in your system. This does not require any lengthy set-ups, cumbersome exporting of data or even redundant data maintenance.
Are you not currently using an ERP system to manage your internal processes, or do you want to switch to an easily customizable, globally usable system?
If you are planning to introduce a (different) ERP system, you have come to the right place.
Growing companies are often faced with the question of how to get a grip on the rapidly growing internal processes in a cost-effective way. Often they fall back on “small” software solutions, which quickly reach their limits with further growth.
As a Business Process Outsourcing (BPO) partner of Oracle NetSuite, we offer you comprehensive and targeted tax consulting in the world’s leading cloud-based business software. In doing so, you will receive a cost-efficient insight in which we introduce you to the workings of the NetSuite world. We accompany you from the set-up to the operational use and data analysis.
This way, you will not only receive competent advice from the start, but also find a solution tailored to your needs.
The advantages of using NetSuite in an outsourced environment
As a company, you have both tax advice and internal control systems in one system. This eliminates the need for cumbersome imports and exports of different system landscapes.
We recognise your need for advice immediately. Communication via one system prevents loss of information. Consultation thus becomes even more effective.
Inter-national reporting can be created quickly and easily across companies. Foreign subsidiaries or permanent establishments can also be easily incorporated into the consolidation. When companies look to expand internationally NetSuite can add subsidiaries easily and quickly with the need to set up additional databases.
One of the major benefits of the NetSuite outsourcing programme is clients can start off utilizing Netsuite in an outsourced environment and later take ownership of the system without the need to re-implement the solution. E.g. you can initially start off in an outsourced environment and as you grow and expand the system can then be transferred to you as the customer.
Typically in most outsourcing environments when a client grows and decides they no longer want to outsource. They normally need to select an ERP and go through a lengthy and risky ERP selection and implementation process. In this model the system is transferred to you and as you scale the solution can grow with you. We as always will be able to support you as you grow even if you no longer wish to outsource and just require technical assistance or tax advisory.
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You will find these services in the NetSuite environment with us
We can offer you the following services as a BPO partner of Oracle NetSuite.
- System setup and data migration
We set up the system for you and ensure a smooth data import.
- Bookkeeping incl. advance VAT returns and recapitulative statements
We prepare your accounting with our comprehensive expertise directly in NetSuite. We also prepare any necessary advance VAT returns and intrastat statements directly in NetSuite.
- Reporting (various analysis and consolidation options)
You can use a variety of evaluations for monitoring and optimization based on our records. If a permanent establishment or a subsidiary is to be consolidated into a higher group level, this can be done within the system with little effort.
Furthermore, you will find the following services with us:
- Demonstration of the possibilities of the ERP system
- Tax advisory (national and international)
Achieve more with Oracle NetSuite and ECOVIS NRW
Would you like to learn more about the advantages of our partnership, or do you need further advice in the field of ERP systems? Please contact our experts: NAMES directly.
We advise you.
FAQ about Oracle NetSuite accounts and licenses:
If you are using an account provided by an outsourcing vendor, you have access to numerous features such as CRM, Sales orders, Purchase orders and reporting, but your vendor is required to restrict your “operational” use in relation to accounting. If you want to use NetSuite to run your internal processes, even if you continue to enjoy the benefits of outsourcing a process such as accounting, you can always take over responsibility for the account in consultation with your provider.
Yes! The account is no different from the account a NetSuite enterprise customer would use. In fact, most companies that use NetSuite through an outsourcing provider transfer ownership of the licence internally and can grow to billions in revenue without ever having to re-implement the system.
Yes! In fact, most NetSuite BPO accounts are integrated with at least one other system.
Yes. One of the biggest benefits of working with a partner using NetSuite is that you can log in, view reports and enter information or transactions related to the service provided.
