NETSUITE GOES GLOBAL WITH FIVE NEW LANGUAGE VERSIONS, CUSTOMIZABLE TAX ENGINE
SAN MATEO, Calif. and LONDON — October 27, 2005 — NetSuite, Inc., the leader in on-demand business management software for small and mid-sized businesses, today unveiled a set of translation and multi-language capabilities to accommodate the needs of businesses with employees and customers in multiple countries. Languages available in this release are Traditional Chinese, Japanese, Spanish, German and French with Simplified Chinese to be available before year end. As importantly, NetSuite introduced a new, flexible tax engine and corresponding financial reporting capabilities to allow businesses to configure NetSuite applications for local and international financial reporting standards (IFRS), as well as unique local tax requirements, for compliance in any country. For more information about the NetSuite multi-language, multi-tax capabilities, please visit www.netsuite.com/multi.
Businesses of all sizes are benefiting from the ability to establish operations around the globe for maximum cost efficiency and business advantage. NetSuite's architecture as an Internet based integrated business application has always allowed organizations to run their business from anywhere on the globe. In addition, NetSuite has long had the ability to transact business in any currency, including website transactions. With these new language capabilities, businesses can now support their workers and customers in their local language. The new tax capabilities also give organizations the capability to address local sales and statutory requirements, the first for an on-demand application. Other key benefits of the new features include:
"With these new capabilities, small and medium enterprises (SMEs) now have a cost-effective means of growing their business internationally on the NetSuite platform, ensuring they have clear, real-time visibility of the company's activities worldwide from wherever they may be," said Craig Sullivan, Director of International Products at NetSuite. "This latest extension of our unique 'One System, No Limits' philosophy allows businesses of all sizes to adopt NetSuite as their primary business management system secure in the knowledge that it can support their ambitions for global leadership now or in the future."