ENP Newswire - 23 September 2013
Release date- 19092013 - NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based financials / ERP and omnichannel commerce software suites, today announced that Roxas Holdings, Inc., the largest sugar producer in the Philippines, is realizing dramatic improvements in financial and operational efficiency and visibility since implementing NetSuite OneWorld.
Roxas Holdings, (RHI; PSEi: ROX), which supplies about 25 percent of the Philippines' demand for sugar and serves customers such as Nestle Philippines, Inc. and Alaska Milk Corporation, moved to NetSuite OneWorld in early 2012 to manage business operations in its Head Office, two sugar mills, one sugar refinery and one bio-ethanol plant.
With NetSuite OneWorld, the company has gained real-time financial visibility and powerful, simplified reporting while realizing immediate and significant cost savings by moving from an on-premise IT infrastructure to the cloud. NetSuite OneWorld is helping Roxas Holdings prepare for the challenges of the impending tariff reduction on sugar to five percent under the ASEAN Free Trade Agreement Common Effective Preferential Treatment (AFTA-CEPT) scheme that will be implemented in 2015 by providing comprehensive insight into pricing and profitability.
Founded in 1927 and publicly traded on the Philippine Stock Exchange, Inc., Roxas Holdings turned to NetSuite's single, integrated cloud business management suite after experiencing serious problems trying to access data scattered across the organization.
Roxas Holdings, which operates Central Azucarera Don Pedro, Inc. in Nasugbu, Batangas, Central Azucarera de la Carlota, Inc. in La Carlota City in Negros Occidental, and Roxol Bioenergy Corporation in Barangay RSB, La Carlota City, Negros Occidental, and which holds a major stake in Hawaiian-Philippine Company, in Silay City-also in Negros Occidental, tapped Manila-based CloudTech, the 2013 NetSuite APAC Solution Provider Partner of the Year, to conduct an evaluation of NetSuite's cloud ERP platform, which is currently used by more than 16,000 companies and subsidiaries around the world.
The sugar group went live on NetSuite OneWorld after a month of defining the business requirements and about three months of customization by CloudTech, working in tandem with the in-house development team of ITG. Today, Roxas Holdings uses NetSuite OneWorld for financial consolidation and intercompany transactions across the parent company and its sugar mills-CADPI in Nasugbu, Batangas and CACI in La Carlota City, Negros Occidental, handling accounts payable and receivable and custom reporting with summary-to-detail drill-down. With its 160 NetSuite users, Roxas Holdings also relies on NetSuite OneWorld to support its sales processes of proposals, orders, deliveries, and customer invoicing and payments, as well as procurement of goods from suppliers. NetSuite OneWorld also supports a number of inventory processes, with plans in the works to expand usage for both real-time inventory management and manufacturing processes and instrumentations that involve milling about 36,000 tons of sugarcane a day and production of over 100,000 liters of bio-ethanol a day from molasses. The power and flexibility of the NetSuite SuiteCloud Computing Platform also allowed Roxas Holdings to make specific customizations to its business and manufacturing processes, enabling the group to move millions of dollars of sugar through the system. A separate instance of NetSuite has been deployed to support the Roxas Foundation charitable organization, as a grantee of the NetSuite.org corporate citizenship program.