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September 15, 2009

Salary.com Standardizes its Operations Using NetSuite OneWorld

By Patrick Barnard, Senior Web Editor, TMCnet


Salary.com, a provider of on-demand compensation, payroll and talent management solutions, is the latest company to standardize its operations using the NetSuite (News - Alert) OneWorld solution for enterprise resource planning.
 
The cloud-based solution handles general ledger, foreign subsidiary management, foreign currency transactions, Sarbanes Oxley compliance, revenue recognition, reporting and analysis – all tightly integrated on a single platform.

With NetSuite OneWorld, Salary.com has reportedly been able to optimize management of its foreign subsidiaries while keeping its operational costs under control.

In a release, Bryce Chicoyne, senior vice president and CFO of Salary.com, said the solution has “allowed us to avoid the hidden costs of implementation as well as ongoing operational costs.” He added that the software is “intuitive to learn” and “adds significant flexibility and functionality.”

Salary.com offers on-demand compensation, payroll and talent management solutions that help businesses and individuals manage pay and performance. Its highly configurable software applications, proprietary data and consulting services help HR and compensation professionals automate, streamline and optimize critical talent management processes including: payroll, benefits, HR administration, market pricing, compensation planning, performance management, competency management, learning and development, and succession planning. More than 3,500 corporate subscribers use the company’s solutions.
 
With NetSuite’s OneWorld solution, Salary.com has been able to automate many business management processes and spreadsheets. The ERP system gives the company greater scalability, improved support for its complex revenue recognition requirements, and strong audit trail and controls. NetSuite has also provided Salary.com with integration of the company’s newly formed and acquired subsidiaries and business units 
 
Now that it has a fully integrated solution, it is much easier for Salary.com to manage its many complex transactions -- which have become even more complicated due to the growth of its recurring revenue model and international expansion. With NetSuite OneWorld, Salary.com has been able to consolidate the books of its foreign subsidiaries and process foreign currency transactions with much greater ease. Not only that, it has gained full foreign exchange transparency at all operating levels.

Because NetSuite OneWorld is a cloud-based solution that can be readily integrated with other systems, Salary.com was able to deploy it quickly and with minimal disruptions. Now, Salary.com has a consistent and comprehensive view of its business activities, as well as a critical data source for accounting, billing, and operations.

NetSuite, a leading provider of cloud-based CRM and ERP solutions, recently launched the CRM Software channel on TMCnet.

The company also made news recently when it announced integration with the U.S. Postal Service’s shipping services, thus enabling companies using NetSuite’s solutions to more easily offer USPS (News - Alert) shipping to their customers. Through this integration, retailers, e-commerce companies, distributors and wholesalers can get instant access to all key USPS services, including price quotes, shipping label generation, package tracking numbers and full customs documentation — saving time on manual lookups and tedious pen-and-paper form completion.

Patrick Barnard is a contributing writer for TMCnet. To read more of Patrick’s articles, please visit his columnist page.





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