Using Oracle NetSuite to achieve global business finance, sales and inventory integration
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Electronic Cigarette
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The preferred platform for domestic electronic atomized products to go overseas
Heaven Gifts
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Business Finance Integration
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Integration of sales and purchase inventory
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NetSuite OneWorld
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Customer Profile
Heaven Gifts Inc. (HG for short) is a trade group company with Internet e-commerce as its core, founded in 2007, with branches in Shanghai, Shenzhen, Hong Kong, the United States, Ireland, Germany, etc. As a global giant in the field of electronic vapour cigarettes, Heaven Gifts joins hands with international first-tier brands of electronic vapour cigarettes, as well as the best design, manufacturing and other supply chain resources to create a healthy, high-quality and fashionable vapour life for the public consumers. supply chain resources to create a healthy, high-quality and fashionable vapour life for mass consumers.
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Informatics Challenges
1.With molecular companies in different parts of the world, the local company can complete many kinds of business, which cannot be supported by the existing IT architecture;
2.Multi-molecule companies need to carry out group integration and regularly output consolidated statements, financial reports and management reports, and the current IT system is unable to output the relevant statements in a timely, accurate and efficient manner for reporting, tax reporting and meeting the legal compliance requirements for auditing;
3.The inter-organisational supply and sales business of group companies, pricing, transactions, etc. cannot be automated, taking up too much manpower costs;
4.It is a huge challenge to meet the financial, tax, compliance and language requirements of multiple countries around the world.
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Solutions
Manage global 2B2C business with one system using Oracle NetSuite:
Phase I project: In a very short period of time (within 5 months), complete the business on-line and system replacement of multiple molecular companies in Hong Kong, Shenzhen, the United States and the United Kingdom. To build a complete ERP IT framework with business and financial integration and separation of middle and back office, to ensure that it can be quickly replicated in subsequent countries, i.e. to meet local business and globalisation control;
Phase II project: further optimise the company's business, such as automatic inter-company transfers, transfer pricing, automatic calculation of tariffs and freight charges and other business requirements.
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Customer Benefits
1.Comprehensively improve operational efficiency and information transparency: Based on NetSuite platform and guided by industry practices, it realizes the integrated application of sales, purchasing, inventory and finance;
2.Constructed a global application template, formulated unified master data (financial, commodity, etc.) management rules, standardized business process application system to adapt to future application extension;
3.Based on NetSuite localization data package, combined with Hitpoint's globalization knowledge accumulation, to achieve fast and accurate landing of Chinese localization solutions;
4.Business-driven finance, timely and accurate issuance of various types of financial statements; financial feedback business, financial team control business, to ensure business compliance and rapid iteration.
