With an established foothold as a top vacation spot, Miami has grown to be more than just a sunny beach getaway. South Florida has become the gateway to business in the Caribbean and Latin America. There are so many opportunities growing out of this one region that many companies across the globe are taking advantage of it. Oracle+NetSuite wants to assist their clients with this promising option so they’ve teamed with LatamReady, a partner that fully understands how business works in US+Latin America. Together they’re ready to lead their clients into the burgeoning market of Latin America, and to do so, Miami is the key to success.
Oracle+NetSuite is a #1 provider across the globe for Enterprise Resource Planning (ERP) software. LatamReady wants to position them as the #1 solution provider implementing in Latin America. And they actively are, by providing Oracle+NetSuite with the needed elements to make their ERP software viable in Latin America. The standards and regulations for the countries that span this area are specialized: their rules on tax law, transparent business practices, and e-invoicing are stringent. And they vary from country to country. LatamReady is geared to ensure their clients are consistently up to date on these localized directives.
LatamReady’s services for fully implementing Oracle+NetSuite makes them the most viable choice when doing business in Miami, and by connection: Latin America.
Many organizations want to embed themselves in the Latin America market. Too many industries to count have seen the advantage of positioning themselves in this part of the world and the companies that work within those industries have noticed.
But what makes Miami so appealing? As the second largest financial hub in the United States it has its own financial foundation to stand on. And while doing business there can be extremely lucrative, it’s also the headquarter of the most international firms with subsidiaries in Latin America. They start there and then branch out to the Latin America market, often with Oracle+NetSuite and LatamReady SuiteApp’s help. LatamReady has already implemented their biggest projects of Oracle+NetSuite Cloud ERP in Miami. It’s an organic step to help their clients move from Miami into the Latin America arena.
Why do business in Miami?
To begin with Miami is a bustling transportation stop. It has more scheduled non-stop cargo flights to Latin America and the Caribbean than Orlando, Houston, New Orleans, Atlanta, Tampa, and New York’s Kennedy airports combined. That kind of affordable travel can’t be underestimated when conducting business. Even in the current climate of remote contact via conferencing software, that accessibility is something of note. It’s easy to reach Latin America via Miami, and Miami’s infrastructure is top notch to ensure travel is as smooth as possible:
- American Airlines’ completed $500 million Cargo Development Program includes 17 new cargo buildings, amounting to more than 3.5 million gross square feet.
- There is a Metrorail that has a 25-mile dual track, elevated rapid transit system, and currently uses 136 train cars.
- The Metrobus system serves all the major shopping, entertainment and cultural centers in the Miami-Dade County 365 days a year.
- 7.42 million tons of cargo is shipped from the Port Miami every year.
- Florida imports $29.6 billion from Latin America and the Caribbean. For exports, $50.1 billion is sent to Latin America from Florida seaports.
Business moves fluidly through Miami as a hub for Latin America travel, either for import/export or for professionals to make their destinations. The Miami International Airport and ports are undeniably vantage points to reaching out to Latin America. The people of Miami are invaluable as well.
The Who’s Who of Business
Latin America is an eclectic mix of people and cultures. To do business in the region, the consumers that will be encountered will be speaking English, Spanish, Portuguese, Dutch, French and more. Luckily, five million Floridians speak another language. The workforce pool to choose from in Miami is diverse and educated, thanks to the many universities that feed their graduates to the popular destination. Bilingual professionals of all sorts are located in the area and from every industry: legal, financial, medical, etc. When the top 4 countries of export from Port Miami by value are Honduras, Costa Rica, Panama, Dominican Republic, it’s important to be able to conduct business fluently. No organization wants to be hindered by an inability to communicate.
Again this is where the LatamReady shines. The workforce that’s being gathered from the Miami hub will need a software that integrates cleanly with Latin America and how they do business. Their Oracle+NetSuite ERP will need to have a cultural and linguistic affinity with these countries. Oracle+NetSuite is globally a powerhouse, but LatamReady brings it home to Latin America organizations and consumers. It meets their particular needs and wants for conducting business efficiently and effectively.
In regards to the kind of employees business can find in Miami, Florida also has a very low rate of union employees. In 2016 the union membership rates were between 5% to 9%. Combine that with the low corporate taxes and qualified Latin America trade expertise, and Miami becomes a very intriguing place to set up shop
Who’s working out of Miami?
Some of the key industries emerging from the Miami-Latin American connection are healthcare, aviation, and cellphone/technology fields. These three industries alone are cutting edge. They’re key fields that will be explored and developed in the decades to come. And the companies that have taken root in Miami are leaders in their industries as well. Here’s some examples of multinational companies who have Latin America headquarters based out of Miami:
And so many more. In fact, Oracle has their Latin America headquarters based in Miami. Which is a true testament of why their Oracle+NetSuite software is the ERP to use in that region. They’re familiar with the market, the people, the culture. Oracle recognized the need to have a partnership with LatamReady to cement their connection to Latin America as well. Much of that decision comes from the obvious benefits of being stationed in Miami.
The Advantages of Miami
Whether it’s the:
- Steady reliable infrastructure for shipping an organization’s goods and services,
- To the knowledgeable, culturally-sophisticated workforce that can be garnered there,
- Or the fact that many industry leaders have already found the advantages of working out of the 2nd biggest financial hub in the US.
Miami is where it’s at if a company wants to make a mark in Latin America. The markets there are booming and many businesses have realized that Miami is their gateway to this untapped opportunity. And along the way, Oracle+NetSuite combined with LatamReady will ensure their clients are up to date with the most robust, current ERP software. And to do so, they’ll help their clients utilize Miami as a jumping off point to take the Latin America market by storm.
NetSuite.com. “NETSUITE IS #1 IN CLOUD ERP.” Business Software, Business Management Software – NetSuite, www.netsuite.com/portal/home.shtml?noredirect=T.
“Critical Capabilities for Cloud Core Financial Management Suites for Midsize, Large and Global Enterprises.” Gartner Reprint,http://www.gartner.com/doc/reprints?id=1-4AGG8O0&ct=170817&st=sb
Machin, Hugo. “Why Miami, the US gateway to Latin America, is on the up.” Miami boosted by transport and arts scene – Schroders global – Schroders,www.schroders.com/en/insights/economics/why-miami-the-us-gateway-to-latin-america-is-on-the-up/.
“PortMiami.” Wikipedia, Wikimedia Foundation, 30 Oct. 2017, en.wikipedia.org/wiki/PortMiami.
Florida: Gateway to Latin America & Caribbean. Enterprise Florida, Sept. 2017,www.enterpriseflorida.com/wp-content/uploads/brief-florida-gateway-latin-america-caribbean.pd.
Port Miami Global Highway: 2016 Statistics. Miami-Dade County, 2016,www.miamidade.gov/portmiami/library/brochures/2016-statistics-brochure.pdf.
“New Release: Bureau of Labor Statistics.” Bureau of Labor Statistics, US Department of Labor, 26 Jan. 2017, www.bls.gov/news.release/pdf/union2.pdf.