S4 Consulting Partners with Teibto and Amanotes to Implement Oracle NetSuite Across Multiple Countries Under IFRS

On January 5, 2026, Amanotes officially kicked off its Oracle NetSuite implementation project. The project covers multiple countries, including Vietnam, Singapore and is designed under a group accounting model with IFRS as the primary reporting standard.
S4 Consulting participates as a consulting partner, working alongside Teibto and Amanotes throughout the design, implementation, and operational phases.

Why did Amanotes decide to implement Oracle NetSuite at this stage?

Amanotes is a fast-growing technology company operating across multiple countries, with increasing requirements for financial consolidation and data transparency at group level. At this stage, the key challenge is not local accounting operations, but building a single, reliable set of consolidated financial data for management and investors.

Oracle NetSuite was selected because it:

• Supports multi-entity, multi-country operations on a single platform
• Enables group-level financial consolidation under IFRS
• Allows compliance with local accounting and statutory requirements in Vietnam, Singapore
• Provides real-time financial data for executive decision-making

What implementation model is used for the Amanotes NetSuite project?

The project follows a model that optimizes local operations while ensuring IFRS consolidation at group level:

• Each subsidiary operates under its local accounting standards and statutory requirements
• Group-level reporting is based on IFRS
• Data is structured to enable automated consolidation, minimizing manual Excel-based adjustments

This is a proven model S4 Consulting commonly applies for Vietnamese companies expanding regionally and globally.

How is the accounting books structure designed to support both local operations and IFRS consolidation?

A core focus of the project is the design of a multi-book accounting model from the outset.

The approach applied for Amanotes includes:

• Local accounting books to support daily operations, tax, and statutory compliance
• An IFRS book dedicated to group reporting and consolidation
• Clear control over recognition differences between local GAAP and IFRS
• Standardized intercompany transactions to ensure clean eliminations
• Systematic management of foreign exchange differences

The objective is for each subsidiary to operate efficiently, while IFRS consolidated reports are generated directly from NetSuite.

What is the role of S4 Consulting in the Amanotes NetSuite project?

In this project:

• Teibto is responsible for the technical implementation of Oracle NetSuite
• S4 Consulting acts as a consulting partner, focusing on finance, accounting, and data architecture

S4 Consulting’s responsibilities include:

• Reviewing the group accounting model and subsidiary-level structures
• Advising on IFRS-oriented data and chart of accounts design from day one
• Project Management

This approach ensures the system is not only technically correct, but also financially meaningful for management decision-making.

Why did Amanotes choose S4 Consulting as its consulting partner?

Amanotes selected S4 Consulting after carefully reviewing the professional profiles and practical expertise of the consulting team, rather than focusing solely on implementation capacity.

Key factors that convinced Amanotes include:

• Consultants with strong finance and accounting backgrounds, holding ACCA qualifications
• Deep expertise in IFRS and its differences from local accounting standards
• Based on practical experience from multiple Oracle NetSuite implementations in Vietnam, including successful projects such as Lifewear Technologies, TCL Logistic, Marteme, May Hoàng Tùng, and Actlife Technologies, S4 Consulting brings proven, hands-on expertise in designing and operating NetSuite systems that deliver reliable financial data and support real-world decision-making.

For Amanotes, ERP is not just an operational system, but a group-level financial foundation for strategic decision-making – an area where S4 Consulting’s strengths are highly aligned.

Practical lessons from multi-country NetSuite IFRS projects

From S4 Consulting’s experience with IFRS-based NetSuite implementations:

• Redesign costs increase significantly if IFRS is not considered from the beginning
• Most data issues arise from intercompany transactions, FX revaluation, and consolidation logic
• ERP systems lose strategic value if group reporting still relies heavily on Excel

Early consulting involvement is therefore critical to protecting long-term system value.

What is the ultimate goal of the Amanotes Oracle NetSuite project?

The objective goes beyond go-live in individual countries. Amanotes aims to:

• Build a robust IFRS-based group financial platform
• Provide real-time, consolidated financial insights to management
• Establish a data-driven decision-making culture across the organization

S4 Consulting believes that when accounting structures and data models are designed correctly from the start, Oracle NetSuite becomes a long-term competitive advantage for high-growth companies like Amanotes.

FAQ – Frequently Asked Questions

Is a multi-country Oracle NetSuite IFRS implementation complex?
Yes, if not designed correctly from the beginning. Intercompany, FX, and consolidation are the most common risk areas.

Is it necessary to separate local accounting books and IFRS books?
For group structures, separating books is essential to ensure both local compliance and accurate group reporting.

Is Oracle NetSuite suitable for Vietnamese technology companies?
Yes, especially for fast-growing companies with multiple entities and group-level transparency requirements.

How does S4 Consulting differ from a technical implementation partner?
S4 Consulting focuses on finance, accounting, and reporting outcomes – ensuring the ERP system truly supports management decisions.