NetSuite OneWorld gives us a way to deliver a standard platform across the organization in a timeframe and at a cost that supports our continued growth and development
San Mateo, Calif. (PRWEB) July 30, 2009
NetSuite Inc., (NYSE:N) a leading vendor of cloud computing business software suites, today announced that it has won a contract to supply its NetSuite OneWorld solution to Jollibee, the Filipino company that operates one of the world's largest fast-food chains. A cloud computing solution that allows multinational and multi-subsidiary companies to manage their global operations in real-time, NetSuite OneWorld gives Jollibee a fast and cost-effective way to automate reporting, perform real-time analytics, conduct audit trail analysis, operate an international supply chain, consolidate international financials, and enforce corporate governance standards in its subsidiaries and divisions in the U.S. and in emerging markets such as Vietnam and China.
Jollibee's five subsidiaries in Vietnam are able to manage day-to-day business operations with a single, consolidated view. This initial implementation went live within two months. Going forward, because of the flexibility and speed to implementation features, NetSuite OneWorld enables Jollibee to take a multi-tiered approach in China as the company currently plans to deploy NetSuite OneWorld in 30 subsidiaries at the provincial level giving its Chinese division a consolidated view of business operations across 190 stores. This roll-out, now underway, is on schedule to be completed in August 2009. Jollibee's U.S. subsidiary is currently using NetSuite for real-time financial reporting and plans to deploy more functionality of NetSuite OneWorld in the near future.
With over 1,800 restaurants worldwide and nearly 200 new stores opening each year, Jollibee has enjoyed dramatic growth since its humble beginnings as two ice cream parlors back in 1975. In addition to its leading market share in the Philippines, the company operates 300 international outlets across Asia and the United States. Geographic expansion, as well as the acquisition of high-profile brands such as Greenwich Pizza and ChowKing, has given rise to siloed processes and data, fueling the need for a truly international business operating platform.
"NetSuite OneWorld gives us a way to deliver a standard platform across the organization in a timeframe and at a cost that supports our continued growth and development," said Jollibee CFO Ysmael Baysa.
NetSuite OneWorld Rolls Up to Oracle Financials
Jollibee's corporate headquarters uses Oracle for financial management and reporting, but the company decided that expanding Oracle to Jollibee's international operations would be too costly and resource-intensive. As a result, the company's broader business interests relied on a patchwork of legacy systems with no real integration. Reporting and consolidation were managed over e-mail, making timely and informed decisions difficult. Processes were opaque, restricting Jollibee from acting as a truly coordinated international entity.
Seeking a solution with world-class capabilities, rapid deployment, and reliable, proven integration processes, Jollibee turned to NetSuite. The company quickly deployed NetSuite OneWorld first in Vietnam, where its flexibility and ease of implementation were solid proof that NetSuite could accommodate Jollibee's rapid international expansion.
With current expansion plans calling for a new store location opening every two days on average, Jollibee needs solutions which provide robust infrastructure on a tight schedule. NetSuite OneWorld's built-in support for multiple currencies, multiple regions, subsidiary relationships and rapid deployment make it an ideal choice for a global, fast-growing business.
Because NetSuite OneWorld has the ability to integrate with Oracle, Jollibee's Manila headquarters can enjoy real-time visibility into the core aspects of its Vietnamese operation, including granular performance analysis, online supply ordering, consolidated reporting and a complete audit trail. NetSuite delivered these benefits significantly faster and at a much lower cost than if Jollibee had rolled out the Oracle platform in Vietnam.
Strengthened by the success of the Vietnamese pilot program, Jollibee currently plans to roll out NetSuite OneWorld across its Chinese operation before the end of the year, followed by Taiwan, the United States and other Asian markets.
NetSuite Inc. (NYSE: N) is a leading vendor of cloud computing business management software suites. NetSuite enables mid-market companies to manage core business operations in a single system, which includes accounting / Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), and Ecommerce. NetSuite's patent-pending "real-time dashboard" technology provides an easy-to-use view into up-to-date, role-specific business information. For more information about NetSuite please visit http://www.netsuite.com
Jollibee is a phenomenal success story, having grown from two ice cream parlours in 1975 to over 1,800 restaurants worldwide today, including the strategic acquisitions of high profile brands like Greenwich Pizza, DeliFrance, Red Ribbon and ChowKing. The company now operates 300 international outlets in markets in the United States, across Asia and throughout the Middle East.
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This press release contains forward-looking statements relating to expectations, plans, and prospects including expectations relating to the future growth of NetSuite's customer base. These forward-looking statements are based upon the current expectations and beliefs of NetSuite's management as of the date of this release, and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. All forward-looking statements in this press release are based on information available to the Company as of the date hereof, and NetSuite disclaims any obligation to update these forward-looking statements.
In particular, the following factors, among others, could cause results to differ materially from those expressed or implied by such forward-looking statements: continued adverse and unpredictable macro-economic conditions or reduced investments in on-demand applications and information technology spending and the risk of technological developments and innovations by others. For a detailed discussion of these and other cautionary statements, please refer to the risk factors discussed in filings with the U.S. Securities and Exchange Commission ("SEC"), including but not limited to the Company's Quarterly Report on Form 10-Q for the period ending March 31, 2009, and any subsequently filed reports on Forms 10-K, 10-Q and 8-K. All documents are available through the SEC's Electronic Data Gathering Analysis and Retrieval system ("EDGAR") at http://www.sec.gov or NetSuite's Web site at http://www.netsuite.com.
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