Contact:
Mei Li
Senior VP, Corporate Communications
NetSuite Inc.
Phone: 650.627.1063
E-mail: meili@netsuite.com

NETSUITE LAUNCHES NETSUITE GIVING

Program Extends NetSuite's Expertise to Help Charities, Fair Trade Groups and Green Start-Ups Do Good Better

NetSuite Founder, Chairman and CTO Evan Goldberg Spearheads Program

SAN MATEO, Calif. — February 22, 2008 — NetSuite Inc. (NYSE: N) , a leading vendor of on-demand, integrated business management software suites that include Accounting / Enterprise Resource Planning (ERP), Customer Relationship Management (CRM) and Ecommerce software for small and midsized businesses and divisions of large companies, today launched NetSuite Giving, a philanthropic initiative designed to revolutionize the operations of charities and social enterprises, just as NetSuite has helped to revolutionize the business operations of its small and mid-sized business customers.

Headed by NetSuite founder and CTO Evan Goldberg, NetSuite Giving kicked off its corporate giving program this month targeting charities, fair trade groups and green start-up companies. NetSuite Giving entails providing both charities and for-profit companies with software donations; and providing NetSuite employees with paid time off to volunteer for these organizations — to support them in effectively using the NetSuite software. NetSuite Giving not only provides a technology solution to the selected charities and companies to enable them to run their business more efficiently, but also provides best practices in implementing and using the business software more effectively. For more information about NetSuite Giving, please visit www.netsuite.com/giving.

"NetSuite has transformed the business landscape for thousands of companies globally," said NetSuite Co-founder, Chairman and CTO Evan Goldberg. "My vision is to expand the use of this spectacular technology and innovation to also help companies and nonprofits make the world a better place to live."

Charities and social enterprises face challenges similar to their small and midsized business counterparts. They struggle with high costs of IT and the costs and complexity of integrating separate and fragmented software packages to run their businesses — accounting, fund raising, ecommerce, case management, marketing and more. It has been estimated that in the U.S. charity sector alone, organizations could free up $60 billion a year by streamlining and restructuring the way in which they provide services and by reducing administrative costs. (Bradley, Bill, et al. May 2003. The Nonprofit Sector's $100 Billion Opportunity. Harvard Business Review. 81(5):94-103, 130.)

NetSuite already addresses many of these challenges for more than 5,600 small and midsized customers around the globe. NetSuite Giving will help tackle these issues among charities and social enterprises. The first groups expected to benefit from NetSuite Giving are charities, fair trade groups and green start-up companies:

  • Registered Charities. Charities are increasingly asked to measure, manage and report on performance and outcomes. This reporting can be easier and less of an administrative burden when financial, operations and outcome data is stored in a single, Web-based system like NetSuite.
  • Fair Trade / Social Enterprises. Increasingly, companies are being formed with a double bottom line — profit and social impact. NetSuite can help reduce IT costs related to hardware, staffing, up-front licensing, upgrades, security and maintenance and allow measurement of social impact alongside profitability.
  • Green Start-ups / Environmental. A multitude of start-ups are being created, both for-profit firms and charities, to tackle environmental challenges. Not only can NetSuite help them achieve their missions, but also do it with a reduced environmental impact, using an energy-efficient Software as a Service.

"NetSuite Giving grantees like Goodwill Industries face the same challenges as the rest of our customer base," said Zach Nelson, CEO of NetSuite. "We're seeing the innovations we've spearheaded as a company — single software applications for running a business, an easy-to-use interface, technology enabling micro-vertical solutions — making a real difference in how grantees achieve their missions, from job training to improving medical services in the developing world."

David Geilhufe, a 15-year philanthropy and nonprofit technology veteran, was appointed to design and develop NetSuite Giving. "We know that applying technology to operations can expand and extend the social impact of charities and social enterprises," he said. "The depth of our technology, the vision of our executive team, and the commitment of a leading, innovative public corporation provide an amazing opportunity to empower organizations to do good better. This was one of those jobs you just can't pass up."

Applications for the NetSuite Giving pilot program are being accepted now and the deadline to apply for the inaugural round of giving is March 21, 2008. For more information, please visit http://www.netsuite.com/giving

About NetSuite
NetSuite Inc. is a leading vendor of on-demand, integrated business management software suites for small and midsized businesses. NetSuite enables companies to manage core business operations in a single system, which includes Accounting / Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), and Ecommerce. NetSuite's patent-pending "real-time dashboard" technology provides an easy-to-use view into up-to-date, role-specific business information.

About NetSuite Giving
NetSuite Inc. is a leading vendor of on-demand, integrated business management software suites for small and midsized businesses. NetSuite enables companies to manage core business operations in a single system, which includes Accounting / Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), and Ecommerce. NetSuite's patent-pending "real-time dashboard" technology provides an easy-to-use view into up-to-date, role-specific business information.

NOTE: NetSuite and the NetSuite logo are registered service marks of NetSuite Inc.

 

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