Oracle NetSuite has announced an expansion of its Middle East operations in order to meet an increasing cloud ERP demand in the region. As a result a sales team has been added which has come complete with new leadership. Additionally fresh solution provider partners have been picked in order to strengthen the existing partner ecosystem.
“Local and global companies with regional headquarters in the area are already reaping the benefits of cloud ERP. With today’s announcement, we’re signaling our ongoing commitment to the region and the success of our customers and partners here,” said the vice president of Oracle NetSuite in the EMEA region, Mark Woodhams.
With the changes NetSuite will now offer support for United Arab Emirates’ and Saudi Arabia’s UVAT agreement – Unified Value Added Tax, which is will take effect in 2018. Other countries which are members of the Gulf Cooperation Council are also expected to follow suit. The new VAT agreement is expected to have an impact on every aspect of business organizations including tax reporting and accounting, financial reporting, pricing of services and products and cashflow.
NetSuite already possesses an in-house tax engine which is highly flexible and which supports more than 110 countries with regard to value added tax. Tax codes for reverse charges, zero rates, standard rates and valued added tax on imports will be part of the International Tax Reporting SuiteApp of NetSuite.
To enjoy the new features existing NetSUite customers will not be required to do anything in order to achieve full systems compliance. Due to the cloud computing model of NetSuite as well as the flexibility of the NetSuite Tax Engine, customers of the ERP software will get to enjoy the benefits of the update immediately.
The sales team of NetSuite for East and Central Europe, Africa and the Middle East will operate out of an office located in Dubai. Recruiting of local implementation partners will also continue in order to offer support to the expected continued growth. Khaled Ismail will be in charge of leading the dedicated sales team. Ismail will have approximately 250 sales professionals working under him as well as around 20 directors and managers. His responsibilities will include managing the marketing and sales strategy for the ECEMEA region.
Currently the number of NetSuite partners in the ECEMEA region is about 16. This year seven businesses have been added to the Solution Provider program. These partners include UnitedofOQ, Azdan Business Analytics, Masterkey Software, Wolfrayet Business Consulting, Foresee Solutions, Digital Trends, and Trinamix Business Solutions.