Brazil is a key target market for NetSuite. Statista estimates that the ERP software segment is projected to reach US$0.53bn in 2022. Over the next five years, to 2027, it is expected to grow at a healthy 8.5% CAGR reaching US$0.81 billion. This week NetSuite announced the introduction of new localizations and accelerators for the Brazilian market.

Brazil is not an easy market to enter. The taxation laws are complex. In 2019 Oracle acquired Oxygen Systems, a NetSuite ISV partner that offered a NetSuite Hybrid SuiteApp to enable Brazilian customers to comply with the taxation system. NetSuite will have benefitted from the knowledge and technology gained through that acquisition. It has also revealed the full extent of the current localizations, including language and currency, and has significantly extended the financial localisations.

NetSuite has also announced the availability of two SuiteSuccess modules, SuiteSuccess Financials First and SuiteSuccess Startup (which included three versions). These are pre-configured accelerators for the Brazilian market and will accelerate the deployment time and reduce the time to value for Brazilian companies adopting the solution.

Gustavo Moussalli, Senior Director of NetSuite, Oracle Latin America (Image credit Linkedin)
Gustavo Moussalli, Senior Director of NetSuite, Oracle Latin America

Gustavo Moussalli, VP of Latin America, Oracle NetSuite, commented, “NetSuite is committed to helping organizations in Brazil adapt and thrive, especially in periods of uncertainty. With NetSuite, organizations operating in Brazil can take advantage of an integrated business system that automates core business processes to increase productivity and efficiency. By consolidating all operational and financial data, organizations gain access to real-time insights and can make more informed decisions to run their business better.”

Can SuiteSuccess in Brazil bring business to NetSuite

Brazil is just the latest country where NetSuite has launched SuiteSuccess modules. Each has the same base components but is also tailored to the specific market they are targeted at.

SuiteSuccess Starter provides pre-configured KPIs, reminders, reports, and dashboards for key business functions. It helps start-ups to grow quickly with the right tools to help grow revenue with the automated processes that help with compliance, provide insights into the business and enable organisations to thrive. NetSuite is introducing three variants of this edition:

  • Services-based organizations
  • Product-based organizations
  • One for organizations that solely need core financial and customer management functionality.

SuiteSuccess Financials First includes predefined roles, KPIs, dashboards, and workflows for finance departments. It allows organisations to quickly onboard NetSuite into their financial function and delivers benefits such as:

  • Automation of financial processes
  • Accelerate period-end closing
  • Improve reporting and budgeting
  • Correctly allocate and amortize expenses faster
  • Simplify asset management
  • Achieve real-time visibility into their financial status.

Brazil localisations

NetSuite also announced enhanced localisations, all available in NetSuite and the SuiteSuccess solutions.

  • E-Invoicing: Brazil is one of the leaders in e-Invoicing, and NetSuite is compliant with the regulations of all state capitals and more than 500 municipalities within Brazil. Presumably, this includes the latest changes for January 1st 2023, whereby Simples Nacional taxpayers need to issue electronic invoices through a government portal. However, this isn’t explicitly called out. E-Invoicing can improve cash flow by automating the payment process and helping to shorten the order-to-cash cycle.
  • Extensive reporting functionality to meet tax, invoice and legal requirements for Brazil. Users can quickly access the reports they need from within a dashboard.
  • An enhanced tax engine will help to ensure compliance with Brazilian tax laws, both local and national. The system has more than 20,000 tax rules that are automatically applied, reducing the amount of knowledge and processing time required by organisations.
  • In Local User Roles: Help organizations easily comply with local business processes and tax regulations by providing two new Brazil-specific roles: Billing Analyst and Fiscal Analyst.

NetSuite continues to gain ground in the Brazilian market

Customers include Sousmile in São Paulo, Sensedia in São Carlos and Gerando Falcõe in São Paulo. Sousmile, a direct-to-consumer dental company, rejected Microsoft and SAP before selecting various NetSuite solutions. Rodrigo Pizetta, Head of Finance, SouSmile, commented, “By relying on comprehensive support from NetSuite, our company expects to continue to speed up its accounting processes and financial decision-making.”

Sensedia is a leading provider of API Management Solutions. It is using NetSuite to support its global expansion, which now includes offices in Brazil, the UK, Peru, the US, Mexico and Columbia. The company now has a single ERP solution accessible anywhere in the world, with localization for each country it operates in and sells to.

Marcílio Oliveira, co-founder and head of growth at Sensedia, commented, “Sensedia has had strong demand and has expanded operations in Europe, North America and South America in recent years. This growth brings a series of challenges, including global restructuring and management.

“With NetSuite, we have the vision, control and resources we need to efficiently manage our expanding global operations. In addition, NetSuite supports us in making strategic decisions in the best interests of the businesses and geographies we serve.”

Gerando Falcõe is an NGI that works with 300 social impact leaders in more than 1,500 favelas. The 200-employee organization selected NetSuite OneWorld, NetSuite WMS, NetSuite Procurement, NetSuite Inventory Management, NetSuite Advanced Customer Support,  and NetSuite Fixed Assets Management.

It uses NetSuite to support the commercial operation that powers the mission to transform the lives of supporting Brazilians in poverty through education, economic inclusion, and citizenship solutions. The implementation was supported by a NetSuite partner operating (though not based) in Brazil, Prompt Software Solutions.

Julia Machado, CFO, Gerando Falcões commented, “Gerando Falcões started 10 years ago in underprivileged schools on the outskirts of São Paulo and worked closely with local leadership, strengthening a network that provides Brazilians with access to professional education, sports programs and high-tech housing improvements.

“With NetSuite, we have the insights we need in a single system and the transparency to generate impact where it makes the most difference. We use NetSuite for all material purchases, supplies, services and vendor purchase orders and payments, as well as all of our financial management, which helps ensure we have a single, accurate view of investment records to share with investors and partners.”

Enterprise Times: What does this mean

NetSuite continues to expand in markets across the globe faster than many other ERP companies. Its presence in Brazil. This announcement signifies a major step forward for NetSuite in the country. It now has comprehensive localisations and referenceable customers across several industries.

Next up will be for NetSuite to roll out more SuiteSuccess accelerators as it starts to target vertical industries in the country.

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