October 21, 2017, 9:12 am
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1 Philippine Peso = 0.07128 UAE Dirham
1 Philippine Peso = 2.18168 Albanian Lek
1 Philippine Peso = 0.0346 Neth Antilles Guilder
1 Philippine Peso = 0.33849 Argentine Peso
1 Philippine Peso = 0.02474 Australian Dollar
1 Philippine Peso = 0.03455 Aruba Florin
1 Philippine Peso = 0.03882 Barbados Dollar
1 Philippine Peso = 1.59705 Bangladesh Taka
1 Philippine Peso = 0.03208 Bulgarian Lev
1 Philippine Peso = 0.00732 Bahraini Dinar
1 Philippine Peso = 33.78397 Burundi Franc
1 Philippine Peso = 0.01941 Bermuda Dollar
1 Philippine Peso = 0.02639 Brunei Dollar
1 Philippine Peso = 0.13315 Bolivian Boliviano
1 Philippine Peso = 0.06146 Brazilian Real
1 Philippine Peso = 0.01941 Bahamian Dollar
1 Philippine Peso = 1.26213 Bhutan Ngultrum
1 Philippine Peso = 0.20042 Botswana Pula
1 Philippine Peso = 388.58696 Belarus Ruble
1 Philippine Peso = 0.03878 Belize Dollar
1 Philippine Peso = 0.02429 Canadian Dollar
1 Philippine Peso = 0.01906 Swiss Franc
1 Philippine Peso = 12.12442 Chilean Peso
1 Philippine Peso = 0.1285 Chinese Yuan
1 Philippine Peso = 56.61879 Colombian Peso
1 Philippine Peso = 10.99029 Costa Rica Colon
1 Philippine Peso = 0.01941 Cuban Peso
1 Philippine Peso = 1.81172 Cape Verde Escudo
1 Philippine Peso = 0.42217 Czech Koruna
1 Philippine Peso = 3.44992 Djibouti Franc
1 Philippine Peso = 0.12229 Danish Krone
1 Philippine Peso = 0.91751 Dominican Peso
1 Philippine Peso = 2.21396 Algerian Dinar
1 Philippine Peso = 0.25699 Estonian Kroon
1 Philippine Peso = 0.34161 Egyptian Pound
1 Philippine Peso = 0.52232 Ethiopian Birr
1 Philippine Peso = 0.01642 Euro
1 Philippine Peso = 0.03984 Fiji Dollar
1 Philippine Peso = 0.01474 Falkland Islands Pound
1 Philippine Peso = 0.01481 British Pound
1 Philippine Peso = 0.08518 Ghanaian Cedi
1 Philippine Peso = 0.91421 Gambian Dalasi
1 Philippine Peso = 174.2236 Guinea Franc
1 Philippine Peso = 0.14253 Guatemala Quetzal
1 Philippine Peso = 3.96933 Guyana Dollar
1 Philippine Peso = 0.15143 Hong Kong Dollar
1 Philippine Peso = 0.45421 Honduras Lempira
1 Philippine Peso = 0.12329 Croatian Kuna
1 Philippine Peso = 1.19002 Haiti Gourde
1 Philippine Peso = 5.04988 Hungarian Forint
1 Philippine Peso = 262.46118 Indonesian Rupiah
1 Philippine Peso = 0.06762 Israeli Shekel
1 Philippine Peso = 1.26145 Indian Rupee
1 Philippine Peso = 22.63199 Iraqi Dinar
1 Philippine Peso = 665.74146 Iran Rial
1 Philippine Peso = 2.03707 Iceland Krona
1 Philippine Peso = 2.46487 Jamaican Dollar
1 Philippine Peso = 0.01373 Jordanian Dinar
1 Philippine Peso = 2.19732 Japanese Yen
1 Philippine Peso = 2.00019 Kenyan Shilling
1 Philippine Peso = 1.33191 Kyrgyzstan Som
1 Philippine Peso = 78.26087 Cambodia Riel
1 Philippine Peso = 8.11083 Comoros Franc
1 Philippine Peso = 17.46894 North Korean Won
1 Philippine Peso = 21.96991 Korean Won
1 Philippine Peso = 0.00585 Kuwaiti Dinar
1 Philippine Peso = 0.01592 Cayman Islands Dollar
1 Philippine Peso = 6.49204 Kazakhstan Tenge
1 Philippine Peso = 160.69488 Lao Kip
1 Philippine Peso = 29.21972 Lebanese Pound
1 Philippine Peso = 2.98137 Sri Lanka Rupee
1 Philippine Peso = 2.29173 Liberian Dollar
1 Philippine Peso = 0.26378 Lesotho Loti
1 Philippine Peso = 0.05918 Lithuanian Lita
1 Philippine Peso = 0.01204 Latvian Lat
1 Philippine Peso = 0.02652 Libyan Dinar
1 Philippine Peso = 0.18258 Moroccan Dirham
1 Philippine Peso = 0.33463 Moldovan Leu
1 Philippine Peso = 1.00621 Macedonian Denar
1 Philippine Peso = 26.37811 Myanmar Kyat
1 Philippine Peso = 47.47671 Mongolian Tugrik
1 Philippine Peso = 0.15597 Macau Pataca
1 Philippine Peso = 6.84045 Mauritania Ougulya
1 Philippine Peso = 0.65703 Mauritius Rupee
1 Philippine Peso = 0.30221 Maldives Rufiyaa
1 Philippine Peso = 13.90062 Malawi Kwacha
1 Philippine Peso = 0.36633 Mexican Peso
1 Philippine Peso = 0.08199 Malaysian Ringgit
1 Philippine Peso = 0.26335 Namibian Dollar
1 Philippine Peso = 6.8323 Nigerian Naira
1 Philippine Peso = 0.58773 Nicaragua Cordoba
1 Philippine Peso = 0.15441 Norwegian Krone
1 Philippine Peso = 2.0099 Nepalese Rupee
1 Philippine Peso = 0.02778 New Zealand Dollar
1 Philippine Peso = 0.00746 Omani Rial
1 Philippine Peso = 0.01941 Panama Balboa
1 Philippine Peso = 0.06268 Peruvian Nuevo Sol
1 Philippine Peso = 0.06206 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.03901 Pakistani Rupee
1 Philippine Peso = 0.06957 Polish Zloty
1 Philippine Peso = 109.45264 Paraguayan Guarani
1 Philippine Peso = 0.07337 Qatar Rial
1 Philippine Peso = 0.0755 Romanian New Leu
1 Philippine Peso = 1.11374 Russian Rouble
1 Philippine Peso = 16.1349 Rwanda Franc
1 Philippine Peso = 0.07279 Saudi Arabian Riyal
1 Philippine Peso = 0.15088 Solomon Islands Dollar
1 Philippine Peso = 0.26054 Seychelles Rupee
1 Philippine Peso = 0.12926 Sudanese Pound
1 Philippine Peso = 0.15816 Swedish Krona
1 Philippine Peso = 0.0264 Singapore Dollar
1 Philippine Peso = 0.01475 St Helena Pound
1 Philippine Peso = 0.43102 Slovak Koruna
1 Philippine Peso = 147.90373 Sierra Leone Leone
1 Philippine Peso = 10.81134 Somali Shilling
1 Philippine Peso = 402.56018 Sao Tome Dobra
1 Philippine Peso = 0.16984 El Salvador Colon
1 Philippine Peso = 9.99573 Syrian Pound
1 Philippine Peso = 0.26335 Swaziland Lilageni
1 Philippine Peso = 0.64344 Thai Baht
1 Philippine Peso = 0.04808 Tunisian Dinar
1 Philippine Peso = 0.04338 Tongan paʻanga
1 Philippine Peso = 0.07108 Turkish Lira
1 Philippine Peso = 0.12963 Trinidad Tobago Dollar
1 Philippine Peso = 0.58637 Taiwan Dollar
1 Philippine Peso = 43.42003 Tanzanian Shilling
1 Philippine Peso = 0.51417 Ukraine Hryvnia
1 Philippine Peso = 70.78804 Ugandan Shilling
1 Philippine Peso = 0.01941 United States Dollar
1 Philippine Peso = 0.5722 Uruguayan New Peso
1 Philippine Peso = 155.95885 Uzbekistan Sum
1 Philippine Peso = 0.1936 Venezuelan Bolivar
1 Philippine Peso = 440.93556 Vietnam Dong
1 Philippine Peso = 2.02426 Vanuatu Vatu
1 Philippine Peso = 0.04922 Samoa Tala
1 Philippine Peso = 10.76747 CFA Franc (BEAC)
1 Philippine Peso = 0.05241 East Caribbean Dollar
1 Philippine Peso = 10.69488 CFA Franc (BCEAO)
1 Philippine Peso = 1.94759 Pacific Franc
1 Philippine Peso = 4.85151 Yemen Riyal
1 Philippine Peso = 0.26339 South African Rand
1 Philippine Peso = 100.72787 Zambian Kwacha
1 Philippine Peso = 7.02446 Zimbabwe dollar

Global business demands a globally ready ERP

It’s been said so often it’s almost become cliché -- these days all businesses are global businesses.

In fact, going global is easier than ever and a near imperative due to technologies such as the Internet, computers, mobile devices; as well as access to a globally integrated network of labor, suppliers and manufacturers. Moreover, the ease of doing business now across borders—through more tightly integrated regional trading blocs such as the ASEAN Economic Community, removes some of the biggest hurdles to global expansion.

What isn’t said so much is that a global business demands a globally-ready business system as well. Face it, business software can be a complicated and process-intensive system. That’s to be expected given the intricacies of today’s business and the importance of getting accurate financial information in a timely fashion. So, when it comes to managing a global business, finding the right solution is particularly important.

What is ERP Software? A key business system that many businesses employ, especially when they grow to a certain scale are what are called Enterprise Resource Planning systems, or ERP. While ERP always demands accurate data and timeliness in delivering that data to provide visibility into financials across all parts of the enterprise, those requirements become even more pressing—and difficult – with a globally-deployed ERP system. 

An obvious starting point is taxes. Complex and quickly changing tax requirements can tax an ERP system. Managing a company’s financials requires compliance with the local tax codes and tax rules. When a company extends its business internationally those codes and rules, and the complexity around them suddenly expand significantly, possibly exponentially. A global ERP system demands a system that can quickly incorporate the tax requirements of new subsidiaries or customers in the new locations. 

Indirect taxes, like Sales Tax, VAT/GST; and withholding of direct taxes on income can be particularly vexing as businesses need to establish and show who is doing the selling and the buying and whether they get specific treatment like a non-profit; the location of the sale if it’s in a different province, state, country, etc.; the type of service or product they are selling and whether it is exempt from something like a VAT; and other specifics that can impact a tax rate, such as the type of product or service that is being delivered.  Some global companies like Amazon and Starbucks ran afoul of tax issues when they set up operations in markets outside of their home country. Locally—the same happened as well to some multinational ecommerce/group buying companies. Of course, that’s no reason not to expand a business internationally, but it’s a cost of doing business that must be accounted for in an ERP system. 

Global ERP requirements go beyond taxes, of course. Subsidiaries in foreign countries still need to roll up their financial data to headquarters so the company can close its books. Getting data from the subsidiary to headquarters can take time, potentially a lot of time with a global ERP system that isn’t properly integrated. Time lost closing the books can mean lost opportunities. 

Additionally, global operations require support for multiple languages and currencies from their ERP system. An American company opening a subsidiary in Manila or Singapore may get off easier on the language front than one where the local populace doesn’t speak English, but it still needs to be able to handle Philippine Pesos and Singapore Dollars. A global ERP system needs to be able to serve up information in the local language and local currency. 

Furthermore, the larger and more far flung an organization becomes, the harder it is to have a clear view into business operations. Without visibility into vital operations like orders, the supply chain and inventory, strategic business decisions can miss important opportunities or worse, reflect an inaccurate reality. That demands a global ERP system that can tie all those processes together.

What’s more, a global business presents the specter of a mish mash of siloed systems that can’t pass data back and forth. Some organizations may find themselves running a separate accounting and eCommerce system for every country they operate in, each tuned to local tax and accounting requirements. That, in turn, forces finance and IT to spend inordinate amounts of time consolidating and rectifying data. A true global ERP system should be able to run anywhere and reflect the local tax and compliance requirements without excessive customization.

Of course, no ERP system is going to be able to handle every process for every business in every industry out of the box. That requires a system that can both be customized to a specific business’ needs and integrated with other mainstream financial systems without requiring an army of consultants. A global ERP system adds a layer of complexity that will tax those capabilities.

Finally, global ERP systems can place a significant burden on IT resources. Separate on-premise instances demand not only software but new data centers and hardware -- whether the ERP system is the same software used at headquarters or from a specific vendor in the host country. A subsidiary, division or acquired company needs local IT staff with the right skills to manage the system. Finding the right ERP skill set can be a challenge, particularly in some locales. That can add cost and complexity to a project, potentially requiring moving staff from headquarters or simply finding and training local talent.

Evaluating Global ERP software. Finding the right global ERP system therefore means selecting a solution that is sophisticated enough to handle compliance, taxes and currency fluctuations, agile enough to adapt with them when they change and simple enough to get up and running quickly for businesses eager to expand to new domains or bring aboard a foreign acquisition.

Software buyers should pay close attention to all of these factors when evaluating a global ERP system. Can it handle multiple tax codes and if so, how quickly or easily can it be updated when those laws or tax codes change. Does it handle multiple languages and currencies and can it calculate exchange rates in real time? 

On-demand, or cloud, solutions can provide some of the answers. Software accessed over the internet can spare a global company the trouble and expense of setting up data centers in far flung locations and hiring or transferring skilled IT workers. Multi-tenant ERP software vendors can also provide agility and flexibility by accounting for tax or compliance changes once in the central system and pushing it out to all customers at once.

However, global ERP software buyers should have some specific questions for cloud vendors. How well does the solution scale? As global business grows, will the software continue to meet my business needs?

The integration capabilities of the software are paramount as well. While all ERP software is going to require some integration, buyers should ask cloud vendors specific questions about their capabilities. Do they have open application programming interfaces (APIs)? Do they have prebuilt connectors to the most widely-used ERP systems? What about their partner ecosystem? Are there other companies ready to step up and offer industry- or country-specific capabilities that the core system does not? What’s the current status of the partner ecosystem and what are its prospects for the future?

Selecting ERP software is never an easy task and there is a long list of failure stories, but it’s also vital for any business with serious growth ambitions and when it comes to the global marketplace, there are very specific needs to be addressed. - By Jan Pabellon, Group Product Manager for Asia Pacific, NetSuite
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