NetSuite (NYSE: N) used Oracle OpenWorld to unveil a new cloud-based ERP solution, NetSuite Two-Tier ERP for Oracle, powered by a new version of NetSuite OneWorld. The new service was designed for enterprises to further global expansion through the deployment of the OneWorld multinational business management solution to run subsidiaries and divisions without risking headquarters investments in Oracle products.

According to the company, the new product can be deployed in far less time at lower cost than more traditional on-premise ERP solutions. At the same time, it gives customers access to real-time data, visibility and management by integrating with Oracle ERP at the corporate level.

The key here is the new version of NetSuite OneWorld provides Oracle customers with a cloud-based software system that enables them to manage divisions within a complex corporate structure. According to NetSuite, it enables them to manage global operations in a simpler way and in real-time. They can drill down into division-level transactions to gain an enterprise-wide view of business operations.

The new cloud service will be driven by NetSuite's network of global partners with cloud connectors to link OneWorld with Oracle. This includes a list of ISVs and systems integrators, including IBM Cast Iron, Informatica, Dell Boomi, Pervasive Software and Celigo.

OneWorld also has a few new features to make this easier, including:

  • Global cloud ERP capabilities with embedded analytics that give customers a role-based dashboard with pre-built KPIs, reports, workflow triggers and the ability to drill down to transactional details.

  • Instant consolidation and visibility for a real-time view into every level of a corporation, from the headquarters to branch offices, subsidiaries and business units and divisions. It provides always-on financial and operational dashboards and reporting.

  • Multicurrency, multitax and multinational intelligence. The product supports more than 190 currencies, 19 languages and accounting standards specific to countries in North America, Europe, Asia and Australia/New Zealand.