June 26, 2018, 1:01 am
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1 Philippine Peso = 0.06901 UAE Dirham
1 Philippine Peso = 2.02912 Albanian Lek
1 Philippine Peso = 0.03401 Neth Antilles Guilder
1 Philippine Peso = 0.5072 Argentine Peso
1 Philippine Peso = 0.02524 Australian Dollar
1 Philippine Peso = 0.03345 Aruba Florin
1 Philippine Peso = 0.03758 Barbados Dollar
1 Philippine Peso = 1.57159 Bangladesh Taka
1 Philippine Peso = 0.03155 Bulgarian Lev
1 Philippine Peso = 0.00712 Bahraini Dinar
1 Philippine Peso = 32.90079 Burundi Franc
1 Philippine Peso = 0.01879 Bermuda Dollar
1 Philippine Peso = 0.02526 Brunei Dollar
1 Philippine Peso = 0.1289 Bolivian Boliviano
1 Philippine Peso = 0.07111 Brazilian Real
1 Philippine Peso = 0.01879 Bahamian Dollar
1 Philippine Peso = 1.28053 Bhutan Ngultrum
1 Philippine Peso = 0.19402 Botswana Pula
1 Philippine Peso = 376.17437 Belarus Ruble
1 Philippine Peso = 0.03754 Belize Dollar
1 Philippine Peso = 0.02493 Canadian Dollar
1 Philippine Peso = 0.01856 Swiss Franc
1 Philippine Peso = 11.99061 Chilean Peso
1 Philippine Peso = 0.12218 Chinese Yuan
1 Philippine Peso = 54.75385 Colombian Peso
1 Philippine Peso = 10.57591 Costa Rica Colon
1 Philippine Peso = 0.01879 Cuban Peso
1 Philippine Peso = 1.77772 Cape Verde Escudo
1 Philippine Peso = 0.41526 Czech Koruna
1 Philippine Peso = 3.33615 Djibouti Franc
1 Philippine Peso = 0.12016 Danish Krone
1 Philippine Peso = 0.92728 Dominican Peso
1 Philippine Peso = 2.1963 Algerian Dinar
1 Philippine Peso = 0.25225 Estonian Kroon
1 Philippine Peso = 0.33484 Egyptian Pound
1 Philippine Peso = 0.51146 Ethiopian Birr
1 Philippine Peso = 0.01612 Euro
1 Philippine Peso = 0.03918 Fiji Dollar
1 Philippine Peso = 0.01416 Falkland Islands Pound
1 Philippine Peso = 0.01417 British Pound
1 Philippine Peso = 0.08979 Ghanaian Cedi
1 Philippine Peso = 0.87956 Gambian Dalasi
1 Philippine Peso = 169.07178 Guinea Franc
1 Philippine Peso = 0.14072 Guatemala Quetzal
1 Philippine Peso = 3.87599 Guyana Dollar
1 Philippine Peso = 0.14741 Hong Kong Dollar
1 Philippine Peso = 0.44878 Honduras Lempira
1 Philippine Peso = 0.11882 Croatian Kuna
1 Philippine Peso = 1.24803 Haiti Gourde
1 Philippine Peso = 5.23224 Hungarian Forint
1 Philippine Peso = 264.43067 Indonesian Rupiah
1 Philippine Peso = 0.06764 Israeli Shekel
1 Philippine Peso = 1.27568 Indian Rupee
1 Philippine Peso = 22.24728 Iraqi Dinar
1 Philippine Peso = 798.38407 Iran Rial
1 Philippine Peso = 2.03119 Iceland Krona
1 Philippine Peso = 2.45509 Jamaican Dollar
1 Philippine Peso = 0.01333 Jordanian Dinar
1 Philippine Peso = 2.06417 Japanese Yen
1 Philippine Peso = 1.89121 Kenyan Shilling
1 Philippine Peso = 1.28183 Kyrgyzstan Som
1 Philippine Peso = 76.00526 Cambodia Riel
1 Philippine Peso = 7.92522 Comoros Franc
1 Philippine Peso = 16.91094 North Korean Won
1 Philippine Peso = 20.86622 Korean Won
1 Philippine Peso = 0.00568 Kuwaiti Dinar
1 Philippine Peso = 0.01541 Cayman Islands Dollar
1 Philippine Peso = 6.38595 Kazakhstan Tenge
1 Philippine Peso = 158.00451 Lao Kip
1 Philippine Peso = 28.292 Lebanese Pound
1 Philippine Peso = 2.98572 Sri Lanka Rupee
1 Philippine Peso = 2.74709 Liberian Dollar
1 Philippine Peso = 0.25254 Lesotho Loti
1 Philippine Peso = 0.05728 Lithuanian Lita
1 Philippine Peso = 0.01166 Latvian Lat
1 Philippine Peso = 0.02548 Libyan Dinar
1 Philippine Peso = 0.1786 Moroccan Dirham
1 Philippine Peso = 0.3177 Moldovan Leu
1 Philippine Peso = 0.98891 Macedonian Denar
1 Philippine Peso = 25.98647 Myanmar Kyat
1 Philippine Peso = 45.97896 Mongolian Tugrik
1 Philippine Peso = 0.15183 Macau Pataca
1 Philippine Peso = 6.67042 Mauritania Ougulya
1 Philippine Peso = 0.65295 Mauritius Rupee
1 Philippine Peso = 0.29256 Maldives Rufiyaa
1 Philippine Peso = 13.4053 Malawi Kwacha
1 Philippine Peso = 0.37584 Mexican Peso
1 Philippine Peso = 0.07518 Malaysian Ringgit
1 Philippine Peso = 0.25239 Namibian Dollar
1 Philippine Peso = 6.72679 Nigerian Naira
1 Philippine Peso = 0.59207 Nicaragua Cordoba
1 Philippine Peso = 0.15205 Norwegian Krone
1 Philippine Peso = 2.03401 Nepalese Rupee
1 Philippine Peso = 0.02719 New Zealand Dollar
1 Philippine Peso = 0.00723 Omani Rial
1 Philippine Peso = 0.01879 Panama Balboa
1 Philippine Peso = 0.06134 Peruvian Nuevo Sol
1 Philippine Peso = 0.0609 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.28222 Pakistani Rupee
1 Philippine Peso = 0.06966 Polish Zloty
1 Philippine Peso = 106.55769 Paraguayan Guarani
1 Philippine Peso = 0.06839 Qatar Rial
1 Philippine Peso = 0.07509 Romanian New Leu
1 Philippine Peso = 1.18236 Russian Rouble
1 Philippine Peso = 15.96073 Rwanda Franc
1 Philippine Peso = 0.07046 Saudi Arabian Riyal
1 Philippine Peso = 0.1479 Solomon Islands Dollar
1 Philippine Peso = 0.25235 Seychelles Rupee
1 Philippine Peso = 0.33738 Sudanese Pound
1 Philippine Peso = 0.16635 Swedish Krona
1 Philippine Peso = 0.02551 Singapore Dollar
1 Philippine Peso = 0.01417 St Helena Pound
1 Philippine Peso = 0.41725 Slovak Koruna
1 Philippine Peso = 149.94363 Sierra Leone Leone
1 Philippine Peso = 10.72905 Somali Shilling
1 Philippine Peso = 394.98309 Sao Tome Dobra
1 Philippine Peso = 0.16441 El Salvador Colon
1 Philippine Peso = 9.67644 Syrian Pound
1 Philippine Peso = 0.25202 Swaziland Lilageni
1 Philippine Peso = 0.61856 Thai Baht
1 Philippine Peso = 0.04882 Tunisian Dinar
1 Philippine Peso = 0.04333 Tongan paʻanga
1 Philippine Peso = 0.08786 Turkish Lira
1 Philippine Peso = 0.12682 Trinidad Tobago Dollar
1 Philippine Peso = 0.56924 Taiwan Dollar
1 Philippine Peso = 42.63435 Tanzanian Shilling
1 Philippine Peso = 0.49267 Ukraine Hryvnia
1 Philippine Peso = 72.51597 Ugandan Shilling
1 Philippine Peso = 0.01879 United States Dollar
1 Philippine Peso = 0.59451 Uruguayan New Peso
1 Philippine Peso = 147.50094 Uzbekistan Sum
1 Philippine Peso = 1499.4363 Venezuelan Bolivar
1 Philippine Peso = 430.10147 Vietnam Dong
1 Philippine Peso = 2.07159 Vanuatu Vatu
1 Philippine Peso = 0.0488 Samoa Tala
1 Philippine Peso = 10.56614 CFA Franc (BEAC)
1 Philippine Peso = 0.05073 East Caribbean Dollar
1 Philippine Peso = 10.56614 CFA Franc (BCEAO)
1 Philippine Peso = 1.92165 Pacific Franc
1 Philippine Peso = 4.69466 Yemen Riyal
1 Philippine Peso = 0.25241 South African Rand
1 Philippine Peso = 97.51033 Zambian Kwacha
1 Philippine Peso = 6.80008 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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