Thailand: NetSuite provides Compomax with core business process, financials solutions

Tuesday 23 December 2014 09:55 CET | News

NetSuite, a provider of ecommerce solutions, has partnered the electronic component distributor Compomax to provide its financials and core business process solutions to the latter.

Via the partnership, Compomax replaces UFIDA ERP-U8, an on-premise ERP solution used to run financials by many organisations in Asia, with NetSuite OneWorld to better manage its financial consolidation, procurement, inventory management, order management, demand planning and supply chain, customer relationship management (CRM), and sales force automation in the cloud solutions.

NetSuite OneWorld provides multi-language (English and Thai), tax compliance and multi-subsidiary support across its four businesses, which allows Compomax to manage its operations in real-time by consolidating financials, automating reporting and performing real-time cost of sales analytics in Thailand and other Southeast Asian markets.

Compomax has been a NetSuite customer since 2011, when it deployed NetSuite for CRM to provide enhanced flow of information across the entire customer lifecycle from lead to opportunity, sales order, fulfilment, renewal, upsell, cross-sell and support. Compomax was already familiar with the scalability benefits of NetSuites cloud-based business management software and with the assistance of NetSuite partner TurnOnTechAsia, the company deployed NetSuite OneWorld as an enterprise-grade tool to provide a single, consolidated view of its subsidiaries and support its future expansion plans.

Among other solutions there is real-time business management, a reporting and analytical tool which enables Compomax to monitor, report and analyse overall business performance in real-time. All stakeholders, from executives to project managers, can see personalised reports with meaningful metrics. By having access to the right information, Compomax management team can make more informed business decisions.

Time savings feature enables Compomax to reduce the time taken to interpret data and produce reports. Reporting in NetSuite OneWorld is in real-time and up to date, so Compomax can access the required data whenever its needed.

Inventory management focuses on control over the company’s inventory and automatically calculates reorder quantities and the optimum quantities that should be kept in stock. CRM provides a real-time 360-degree view of customers and delivers flow of information across the whole customer lifecycle. Compomax now has a solution that supports its 50 sales engineers on the road, giving them access to critical customer information from their laptops and mobile devices, enabling them to close sales on the spot.

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Keywords: Thailand, NetSuite, Compomax, core business process, finacial solutions, partnership
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce