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Contact:

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

NETLEDGER LAUNCHES NETLEDGER 1 SYSTEM

Web-based Package Creates New Category of Integrated Small Business Management

San Mateo, CA—April 20, 2001—NetLedger, Inc., the leader in Web-based solutions that streamline small businesses and help them succeed, today announced the unveiling of NetLedger 1 System. Building on its dominance in online accounting, NetLedger is the first and only company in its category to deliver one complete, integrated small business system. Using NetLedger 1 System, small businesses can save time and money; access up-to-the-minute information to make better business decisions; and strengthen and extend business relationships using the Internet.

NetLedger 1 System gives small businesses the ability to manage all aspects of their company including accounting, payroll, bill pay, Web site & Web store, customer & supplier relationships, order processing, inventory, time & billing, expense reporting, and more. Built from the ground up as one integrated application, NetLedger 1 System allows information to flow instantly and automatically between all areas of the product.

  • When an employee enters an expense report, it automatically flows to his or her supervisor for approval, and to accounting for processing. The process completely eliminates paper work and duplicate data entry.
  • Products and services that a user sets up in accounting can be published to the user's Web site or Web store with a click of the mouse.
  • If a customer registers for information on a NetLedger user's Web site, he or she automatically becomes a prospect in CRM for fast follow-up by the user's sales department.
  • When a visitor places an order in a NetLedger user's Web store, it instantly creates a sales order and a packing slip so that it can be quickly shipped, and it also creates a customer record in CRM so that the user's sales and service teams have a complete transaction history for the customer.

The challenges of running a business are the same whether one runs a big business or a small business. In both cases, multiple, incompatible applications can waste valuable time and money. Now NetLedger 1 System solves those problems for small businesses and gives them the tools to do what they enjoy doing - building a great business. For millions of small businesses NetLedger 1 System levels the playing field with big businesses like never before.

"The idea of one application to run your entire business is not new," said Evan Goldberg, president and CEO of NetLedger, Inc. "But what is revolutionary is this power is now within reach of any small and mid-sized company with NetLedger 1 System. A smart business today understands that using many different applications that don't work well together only results in more headaches. NetLedger 1 System is the first and the only product specifically designed to solve this problem."

"NetLedger 1 System will help small businesses better manage their internal operations, as well as more effectively market and sell their products and services," said Amy Levy, Industry Analyst at Summit Strategies, Inc., a Boston-based analyst firm. "By providing customers with a fully integrated application, NetLedger has proven that it both understands the needs of small businesses and that it can deliver highly relevant solutions to address those needs."

NetLedger 1 System includes all of the following services for $99 per month. That is 76% off the price of the services purchased separately.

  • NetLedger Accounting/5 users
  • NetLedger Payroll/per company
  • NetLedger Online Bill Pay/20 checks per month
  • NetLedger Web store/Web site/per company
  • NetLedger CRM/5 users
  • NetLedger Employee Center/up to 25 employees
  • Customer Support/Premium Support

"I have been waiting for a system like NetLedger for a long time," said Arun Deva, president of CPAMoneyWatch.com, LLC, an Internet-based business service provider based in Bethesda, MD. "I have tremendous confidence in NetLedger 1 System and I believe that it is going to win a huge customer base. We have bought 10 packages of NetLedger 1 System."

Users can run NetLedger 1 System on all major browsers and operating systems, with anytime, anywhere access.

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

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