December 17, 2017, 12:50 am
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1 Philippine Peso = 0.07288 UAE Dirham
1 Philippine Peso = 2.24593 Albanian Lek
1 Philippine Peso = 0.03533 Neth Antilles Guilder
1 Philippine Peso = 0.34712 Argentine Peso
1 Philippine Peso = 0.02593 Australian Dollar
1 Philippine Peso = 0.03533 Aruba Florin
1 Philippine Peso = 0.0397 Barbados Dollar
1 Philippine Peso = 1.63815 Bangladesh Taka
1 Philippine Peso = 0.03288 Bulgarian Lev
1 Philippine Peso = 0.00748 Bahraini Dinar
1 Philippine Peso = 34.75546 Burundi Franc
1 Philippine Peso = 0.01985 Bermuda Dollar
1 Philippine Peso = 0.02675 Brunei Dollar
1 Philippine Peso = 0.13617 Bolivian Boliviano
1 Philippine Peso = 0.06539 Brazilian Real
1 Philippine Peso = 0.01985 Bahamian Dollar
1 Philippine Peso = 1.2763 Bhutan Ngultrum
1 Philippine Peso = 0.20411 Botswana Pula
1 Philippine Peso = 397.3799 Belarus Ruble
1 Philippine Peso = 0.03965 Belize Dollar
1 Philippine Peso = 0.02552 Canadian Dollar
1 Philippine Peso = 0.01965 Swiss Franc
1 Philippine Peso = 12.62406 Chilean Peso
1 Philippine Peso = 0.13118 Chinese Yuan
1 Philippine Peso = 59.40849 Colombian Peso
1 Philippine Peso = 11.184 Costa Rica Colon
1 Philippine Peso = 0.01985 Cuban Peso
1 Philippine Peso = 1.86245 Cape Verde Escudo
1 Philippine Peso = 0.43364 Czech Koruna
1 Philippine Peso = 3.50992 Djibouti Franc
1 Philippine Peso = 0.12575 Danish Krone
1 Philippine Peso = 0.94204 Dominican Peso
1 Philippine Peso = 2.28011 Algerian Dinar
1 Philippine Peso = 0.26427 Estonian Kroon
1 Philippine Peso = 0.35252 Egyptian Pound
1 Philippine Peso = 0.5391 Ethiopian Birr
1 Philippine Peso = 0.01689 Euro
1 Philippine Peso = 0.04119 Fiji Dollar
1 Philippine Peso = 0.01488 Falkland Islands Pound
1 Philippine Peso = 0.0149 British Pound
1 Philippine Peso = 0.08949 Ghanaian Cedi
1 Philippine Peso = 0.93628 Gambian Dalasi
1 Philippine Peso = 177.61016 Guinea Franc
1 Philippine Peso = 0.14561 Guatemala Quetzal
1 Philippine Peso = 4.01171 Guyana Dollar
1 Philippine Peso = 0.15502 Hong Kong Dollar
1 Philippine Peso = 0.46602 Honduras Lempira
1 Philippine Peso = 0.12717 Croatian Kuna
1 Philippine Peso = 1.24851 Haiti Gourde
1 Philippine Peso = 5.30468 Hungarian Forint
1 Philippine Peso = 269.45216 Indonesian Rupiah
1 Philippine Peso = 0.0697 Israeli Shekel
1 Philippine Peso = 1.27173 Indian Rupee
1 Philippine Peso = 23.50139 Iraqi Dinar
1 Philippine Peso = 706.60975 Iran Rial
1 Philippine Peso = 2.09111 Iceland Krona
1 Philippine Peso = 2.47122 Jamaican Dollar
1 Philippine Peso = 0.01404 Jordanian Dinar
1 Philippine Peso = 2.23456 Japanese Yen
1 Philippine Peso = 2.04347 Kenyan Shilling
1 Philippine Peso = 1.38392 Kyrgyzstan Som
1 Philippine Peso = 79.89281 Cambodia Riel
1 Philippine Peso = 8.1582 Comoros Franc
1 Philippine Peso = 17.86423 North Korean Won
1 Philippine Peso = 21.58495 Korean Won
1 Philippine Peso = 0.00599 Kuwaiti Dinar
1 Philippine Peso = 0.01628 Cayman Islands Dollar
1 Philippine Peso = 6.65919 Kazakhstan Tenge
1 Philippine Peso = 164.78761 Lao Kip
1 Philippine Peso = 29.88289 Lebanese Pound
1 Philippine Peso = 3.0389 Sri Lanka Rupee
1 Philippine Peso = 2.48432 Liberian Dollar
1 Philippine Peso = 0.26141 Lesotho Loti
1 Philippine Peso = 0.06051 Lithuanian Lita
1 Philippine Peso = 0.01232 Latvian Lat
1 Philippine Peso = 0.02704 Libyan Dinar
1 Philippine Peso = 0.1878 Moroccan Dirham
1 Philippine Peso = 0.33869 Moldovan Leu
1 Philippine Peso = 1.03414 Macedonian Denar
1 Philippine Peso = 27.03454 Myanmar Kyat
1 Philippine Peso = 48.15403 Mongolian Tugrik
1 Philippine Peso = 0.15967 Macau Pataca
1 Philippine Peso = 6.9869 Mauritania Ougulya
1 Philippine Peso = 0.67209 Mauritius Rupee
1 Philippine Peso = 0.30905 Maldives Rufiyaa
1 Philippine Peso = 14.16276 Malawi Kwacha
1 Philippine Peso = 0.37963 Mexican Peso
1 Philippine Peso = 0.08094 Malaysian Ringgit
1 Philippine Peso = 0.2608 Namibian Dollar
1 Philippine Peso = 7.10599 Nigerian Naira
1 Philippine Peso = 0.60838 Nicaragua Cordoba
1 Philippine Peso = 0.16635 Norwegian Krone
1 Philippine Peso = 2.03573 Nepalese Rupee
1 Philippine Peso = 0.02839 New Zealand Dollar
1 Philippine Peso = 0.00762 Omani Rial
1 Philippine Peso = 0.01985 Panama Balboa
1 Philippine Peso = 0.06535 Peruvian Nuevo Sol
1 Philippine Peso = 0.06434 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.17745 Pakistani Rupee
1 Philippine Peso = 0.07099 Polish Zloty
1 Philippine Peso = 111.57205 Paraguayan Guarani
1 Philippine Peso = 0.07225 Qatar Rial
1 Philippine Peso = 0.07797 Romanian New Leu
1 Philippine Peso = 1.1679 Russian Rouble
1 Philippine Peso = 16.58892 Rwanda Franc
1 Philippine Peso = 0.07443 Saudi Arabian Riyal
1 Philippine Peso = 0.15358 Solomon Islands Dollar
1 Philippine Peso = 0.26852 Seychelles Rupee
1 Philippine Peso = 0.13219 Sudanese Pound
1 Philippine Peso = 0.16899 Swedish Krona
1 Philippine Peso = 0.02675 Singapore Dollar
1 Philippine Peso = 0.01489 St Helena Pound
1 Philippine Peso = 0.44077 Slovak Koruna
1 Philippine Peso = 151.44898 Sierra Leone Leone
1 Philippine Peso = 11.09567 Somali Shilling
1 Philippine Peso = 413.80507 Sao Tome Dobra
1 Philippine Peso = 0.17368 El Salvador Colon
1 Philippine Peso = 10.22191 Syrian Pound
1 Philippine Peso = 0.26054 Swaziland Lilageni
1 Philippine Peso = 0.6449 Thai Baht
1 Philippine Peso = 0.04961 Tunisian Dinar
1 Philippine Peso = 0.04557 Tongan paʻanga
1 Philippine Peso = 0.07666 Turkish Lira
1 Philippine Peso = 0.13159 Trinidad Tobago Dollar
1 Philippine Peso = 0.5944 Taiwan Dollar
1 Philippine Peso = 44.30329 Tanzanian Shilling
1 Philippine Peso = 0.54875 Ukraine Hryvnia
1 Philippine Peso = 71.55617 Ugandan Shilling
1 Philippine Peso = 0.01985 United States Dollar
1 Philippine Peso = 0.57046 Uruguayan New Peso
1 Philippine Peso = 160.57959 Uzbekistan Sum
1 Philippine Peso = 0.198 Venezuelan Bolivar
1 Philippine Peso = 450.55577 Vietnam Dong
1 Philippine Peso = 2.09845 Vanuatu Vatu
1 Philippine Peso = 0.05144 Samoa Tala
1 Philippine Peso = 11.07165 CFA Franc (BEAC)
1 Philippine Peso = 0.05359 East Caribbean Dollar
1 Philippine Peso = 11.49782 CFA Franc (BCEAO)
1 Philippine Peso = 2.00337 Pacific Franc
1 Philippine Peso = 4.96129 Yemen Riyal
1 Philippine Peso = 0.26079 South African Rand
1 Philippine Peso = 103.00714 Zambian Kwacha
1 Philippine Peso = 7.18341 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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