SUMEC Takes Control of Its Complex Financial Operations

Established in China in 1978, Jiangsu SUMEC Group Co., Ltd. (SUMEC) is a modern manufacturing service group operating in 150+ countries, with more than 21,000 employees and 45 overseas branches. SUMEC is part of the China National Machinery Industry Corporation (SINOMACH), which is one of the world’s top 500 companies, according to Fortune China.


SUMEC Group logo

Company

SUMEC Group

Location

Nanjing, China

Industry

Manufacturing and Foreign Trade

EMPLOYEES

21,000+

NUMBER OF COUNTRIES

150+

NUMBER OF SUBSIDIARIES

11

SYSTEM REPLACED

Local ERP

NETSUITE PRODUCT IMPLEMENTED

NetSuite OneWorld


“Oracle NetSuite supports global group business and meets the fiscal and tax requirements of many countries. In addition, NetSuite is deployed quickly, implemented quickly and iterated quickly.” Tian Zheng, CIO, SUMEC Group

Bringing China to the World

Growth fuels complexity
Over the past four decades, SUMEC has become of one of China's largest import and export companies. It is an international enterprise group with supply chain integration services as its main business and advanced manufacturing and engineering contracting as its two secondary business units.
Navigating bumps in the road
Each SUMEC subsidiary’s overseas branch has its own management system, which made managing multiple branches, subsidiaries and currencies nearly impossible. For example, at the end of each month, the financial staff manually merge the statistics from the financial data of about 40 account sets in multiple systems. This process was inefficient, and resulted in unreliable data that put the business at risk of international tax violations.
Finding fast and flexible systems
SUMEC implemented NetSuite OneWorld, using the SuiteSuccess staged implementation to segment its large vision into manageable phases over a pre-determined timeline. This ensured a smooth transition and allowed ample time to train its team. The complex business now runs its many subsidiaries—operating in multiple currencies with various tax requirements—in a single system that handles compliance requirements easily. SUMEC also adopted the SPS Commerce integrated hub service, one of the NetSuite SuiteCloud Developer Network solutions, enabling SUMEC to achieve Electronic Data Interchange (EDI) interconnection with its main distribution partner, Costco, in just four weeks. This proved five times more efficient than before.
Travelling further
Going forward, SUMEC plans to start using NetSuite across more of its portfolio of businesses, which includes subsidiaries in environmental engineering, household textiles and more.
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