Senior VP, Corporate Communications
NEW NETSUITE SMALL BUSINESS TARGETS
COMPANIES OUTGROWING QUICKBOOKS
NetSuite Small Business Provides
One System To Run a Business
Seamless Migration and Familiar
Usability Enable Growing Businesses to Graduate from
Limited, Incompatible Accounting, Ecommerce, Contact
Management and Sales Force Automation Solutions
SAN MATEO, CA—August 18, 2004—NetSuite,
Inc. today announced the launch of NetSuite Small Business,
a new on-demand suite of applications that allows small
businesses to manage sales, contacts, financials, and
ecommerce in one system. The new NetSuite Small Business
replaces Oracle Small Business Suite and adds familiar
usability features and data migration tools that speed
the transition from limited applications such as QuickBooks.
In addition, NetSuite Small Business users can grow
into NetSuite's mid-market products whenever they need
to with no data migration at all. NetSuite's award-winning
products include NetSuite, NetSuite Small Business,
NetERP, NetCRM and NetCommerce. For the new NetSuite
Small Business product information please go to www.netsuite.com/qbdefectors.
Small business is the backbone of the world economy,
and in the US alone there are more than 5 million small
businesses. While these businesses can be simple to
manage at the outset, as they grow they can quickly
increase in complexity. Growing small businesses often
face the same challenges of large enterprises—conducting
business via the Internet, providing great customer
service, managing complex product inventory and logistics,
tracking sales efforts, and scaling IT resources for
increased transaction load. However, small businesses
do not have the financial or human resources to throw
at solving these problems the way a large company can.
While easy to use, the software used to manage small
businesses has not successfully addressed the needs
of growing companies, particularly in addressing new
opportunities and concerns raised by the Internet. In
particular, the accounting system is the key repository
for small business data, and when it limits a company,
the company is badly crippled. QuickBooks is widely
used by US small businesses, but it is extremely limiting
to a company as it grows.
- QuickBooks Enterprise (Intuit's most powerful QuickBooks
product) at most can support only 10 users and can
only track 29,000 customers, vendors and inventory
items (source: Intuit Corp.)—incredible constraints
on a growing business.
- Since QuickBooks is not built on a robust database,
when transaction volume grows the application's performance
- QuickBooks Enterprise is built on old, non-Internet
ready technology, making it impossible to access remotely
unless a host of additional technology is purchased
- QuickBooks Enterprise is primarily an accounting
package, requiring a small business to buy and try
to integrate separate applications for sales force
management, ecommerce operations, and customer support.
NetSuite Small Business addresses the growing needs
of small businesses with big plans. With nearly $100
million invested in the development and delivery of
its products, NetSuite brings the power of big business
software with the ease of use expected by small business.
- NetSuite Small Business provides one system to run
a business, eliminating redundant data entry; and
eliminating the time, cost and error associated with
multiple systems for finance, sales, warehouse management,
customer support and ecommerce.
- NetSuite is a far more powerful and secure solution
than small businesses could hope to piece together
on their own. Built on an Oracle database, and secured
in a 24x7 remote hosting facility with redundant power
supply and Internet bandwidth, NetSuite Small Business
can support an unlimited number of users and transactions.
- NetSuite includes customer and user dashboards
which give them real-time information and application
functionality at their fingertips.
- NetSuite is an on-demand solution, allowing the
application to be accessed anytime, anywhere, while
eliminating the cost of managing, maintaining and
upgrading business applications.
While NetSuite Small Business adds hundreds of capabilities
not available in QuickBooks, it also incorporates specific
features designed to ease the transition from QuickBooks.
In many of its common accounting procedures, such as
tracking customers and vendors, invoicing customers,
and paying bills, NetSuite Small Business behaves in
much the same way as QuickBooks. In addition, common
usability terminology, navigation and drop-down menus
are QuickBooks-like. NetSuite Small Business is designed
to print on most QuickBooks check forms and deposit
slips, so users can also use existing QuickBooks forms.
NetSuite Small Business also includes a data migration
wizard that allows companies outgrowing QuickBooks to
quickly move important data. And unlike QuickBooks Enterprise,
NetSuite is completely Internet-ready. From anytime,
anywhere via the Internet, to its ability to enable
instant ecommerce, to allowing customers and vendors
to log-in and transact business directly with a company
via self-service, NetSuite Small Business brings customers
to the Internet Age painlessly.
"We switched from QuickBooks to NetSuite for
an integrated front and back office solution that provides
all the extensive accounting functionality we needed
today for expansion together with features like customer
relationship management we could tap in the future,"
said Hossein Pourmand, CFO of Home America Lending (www.homeamericaloans.com),
a Santa Ana, Calif.-based mortgage lending company.
"The mortgage banking business is very number
intensive. From a financial reporting perspective, the
whole banking industry is highly regulated. We need
to maintain accurate records and books, and we have
to have audited financials very frequently to submit
to various state and federal regulatory agencies. We
need to have very accurate and updated financials. We
don't want to branch out without knowing we are going
to have very strong financial controls in place. Our
viability as a company could be at stake. NetSuite provides
us with those capabilities."
"Running a small business can be as complex as
running a billion-dollar company," said Zach Nelson,
CEO of NetSuite. "NetSuite Small Business gives
small business owners an application as powerful as
those used by enterprises, but designed and priced with
them in mind."
Pricing and Availability:
NetSuite Small Business is available immediately. It
starts at $99 per month for the first user, then $49
for each additional user per month.