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Contact:

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

NETLEDGER AND 3RD SECTOR.NET TEAM UP TO BRING AFFORDABLE WEB-BASED ACCOUNTING SOLUTION TO NONPROFITS

 

San Mateo, CA—February 15, 2000—NetLedger™ Inc., the world’s first and only provider of a Web-based accounting solution for small businesses, announced today it has entered into an agreement with 3rdSector.Net, the e-business Application Service Provider (ASP) for the nonprofit sector. This alliance extends NetLedger’s business offering to a new small-business niche, nonprofit organizations.

The agreement provides 3rdSector.Net's users access to NetLedger’s Web-based accounting application by providing a hyperlink on the 3rdSector.Net Web site that allows nonprofits to quickly and easily select NetLedger as their accounting solution.

By signing up for NetLedger, nonprofits will be able to focus their resources on their organizations' greater mission, rather than devoting excessive time to bookkeeping and budget planning. Besides its current functions, NetLedger's application will soon be enhanced to include a yearly-budgets feature which is particularly useful to nonprofits who must create and manage annual budgets.

“We’re very excited to extend NetLedger's accounting application to the nonprofit community which in the US alone numbers over 1 million," said Bill Mirbach, president and CEO of NetLedger. “This audience is a perfect match for NetLedger, providing customers access to sophisticated accounting functionality balanced with simplicity of design, ease of use and an unbeatable cost of just pennies a day."

"3rdSector.Net is filling in an important piece of the puzzle in providing a full spectrum of services to the nonprofit community," continued Mirbach. NetLedger complements those services, enabling nonprofits to remain focused on the organization’s core objective."

"NetLedger is a phenomenal accounting application that harnesses the power of the Internet to allow nonprofit organizations the ability to lower their accounting costs and increase their work efficiency," said Vic Mazziotti, president of 3rdSector.Net. "NetLedger complements the suite of products and services we offer and gives nonprofit organizations anytime, anywhere access to their records."

For more information about NetSuite please visit our Web site at www.netsuite.com.

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