NetSuite, Inc., the industry's leading provider of cloud-based financials / ERP and omnichannel commerce software suites, today announced that true sport performance brand ASICS, has deployed NetSuite OneWorld as its cloud-based business management suite to power its Singapore subsidiary ASICS Asia PTE. Ltd, with plans to deploy NetSuite in its Indian subsidiary ASICS India Private Limited, as the company looks to expand its operations in the South East Asia region. ASICS is currently using a single instance of NetSuite OneWorld to run all of its core business processes in Singapore, including financials, accounting, order management, and inventory management, with integration into a third party logistics solution. NetSuite OneWorld provides ASICS with multi-subsidiary and multi-currency support to manage the company's Asian operations in real-time, by automating reporting, local tax compliance and consolidating financials in five different currencies (SGD, MYR, THB, PHP and USD). NetSuite OneWorld has the capacity to support 19 languages and 190 currencies, enabling companies like ASICS to expand globally.
To support its expansion in South East Asia, ASICS required a scalable ERP solution that could integrate financial results and data at its subsidiaries with its headquarters in Japan to provide real-time visibility across the whole organisation. To avoid setting up an on-premise solution with limited IT capacity in each start-up company location, along with associated costs, the global IT team wanted to deploy a cloud-based ERP solution in a two-tier ERP model, which enables subsidiary integration into ASICS' existing on-premise ERP infrastructure at its headquarters. ASICS turned to a leading global research organisation to find the most suitable cloud ERP solution in Asia, with analysts at the research firm recommending NetSuite as the leading provider of cloud-based ERP. NetSuite OneWorld's capabilities exceeded the company's expectations, so it decided not to consider any other solutions.
In Singapore, ASICS Asia was originally established as a marketing support business in 2012 and became a wholly-sales subsidiary in January 2014. It now serves as a hub for sales and marketing operations in South East Asia, focused on boosting the ASICS brand image in Singapore, Thailand, the Philippines and Malaysia, as well as taking further measures towards launching operations in other Association of Southeast Asian Nations (ASEAN). In the near future, the subsidiary is expected to serve as the regional headquarters for Asia (including India and Pakistan) and Oceania.
"We were looking for a platform that could enable us to handle complex business operations across South East Asia and also one that could accommodate local tax compliance requirements," said Takahiro Mizumoto, Manager, SCM Solution Team, Global IT Division for ASICS Corporation. "We were impressed by the capabilities of NetSuite OneWorld from both a functionality standpoint and a TCO perspective. NetSuite met all of our requirements and delivered a robust solution in a tight timeframe."
NetSuite OneWorld enables a two-tier ERP deployment model that allows organisations to have an on-premise ERP instance at their head office and to deploy NetSuite in its subsidiary offices, with the cloud solution integrating seamlessly with the company’s existing on-premise solution.
NetSuite OneWorld provides ASICS Asia with the following key features and benefits:
• Real-time analytics and reporting NetSuite's dashboards, reporting and analytical tools enable ASICS Asia to monitor, report and analyse overall business performance in real-time and report into its headquarters in Japan. It has gained valuable insights into its business, enabling the management team to make informed business decisions on a daily basis.
• Agility NetSuite OneWorld gives ASICS Asia the speed and agility required to expand and set up new subsidiaries in a tight timeframe. It also gives the subsidiaries the power to instantly switch on NetSuite without help from corporate head office or the need for onsite IT staff.
• Low cost of ownership The total cost of ownership (TCO) of NetSuite OneWorld was much lower when compared to large scale on-premise ERP solutions. This enabled ASICS Asia to standardise its cloud-based ERP solution across its growing number of subsidiaries without putting unnecessary financial strain on the company.
• Superior fulfilment and inventory management NetSuite offers ASICS Asia a complete set of fulfilment and inventory management capabilities, enabling the company to adjust pricing of goods in different currencies and multiple locations, and supporting the company in the shipment of goods to destinations in South East Asia within expected timeframes. This capability also enhances its visibility of the stock it holds within its warehouse in Singapore, helping it to manage item fulfilment.
"If we didn't have NetSuite, we wouldn't have been able to integrate the new subsidiary or operate any of our business processes within such a short turnaround time in Singapore," added Mr Mizumoto. "By going through this process, we are now setup to integrate more subsidiaries throughout the region in the future with confidence."
According to Mark Troselj, managing director of APAC and Japan for NetSuite,"For global businesses like ASICS deploying ERP at a subsidiary level, NetSuite’s cloud solutions can be deployed in less time and at substantially lower cost than a comparable on-premise ERP system, while providing real-time data, visibility and management through integration with on-premise ERP at the corporate, head office level. This two-tier ERP model is rapidly emerging as a compelling option for enterprises that need to support rapid global growth and gain greater efficiencies across key business processes without the time and cost burden of an on-premise ERP deployment."
Today, more than 20,000 companies and subsidiaries depend on NetSuite to run complex, mission-critical business processes globally in the cloud. Since its inception in 1998, NetSuite (netsuite.com) has established itself as the leading provider of enterprise-class cloud ERP suites for divisions of large enterprises and mid-sized organisations seeking to upgrade their antiquated client/server ERP systems. NetSuite excels at streamlining business operations, as demonstrated by a recent Gartner study naming NetSuite as the fastest growing top 10 financial management systems vendor in the world. NetSuite continues its success in delivering the best cloud ERP/financial suites to businesses around the world, enabling them to lower IT costs significantly while increasing productivity, as the global adoption of the cloud accelerates.
ASICS (asics.com) was founded in 1949 by the Japanese pioneer and innovator Kihachiro Onitsuka. Inspired by the Latin proverb 'Anima Sana In Corpore Sano' a sound mind in a sound body his vision was to promote the health of young people through sport. A ‘True Sport Performance Brand’ ASICS remains committed to this philosophy today. Through continuous development of new technologies, based upon research from the ASICS Institute of Sports Science, ASICS produces high-quality and high performance footwear, apparel and accessories that support and enhance athletic performance. In addition to the ASICS brand, Onitsuka Tiger has also established itself as a Japanese sports fashion brand. ASICS group is headquartered in Kobe, Japan with more than 50 offices distributing products to over 150 countries worldwide.