San Mateo, CA—July 11, 2000—NetLedger, Inc., the leading application service provider (ASP) that enables small businesses to run their companies totally online, today announced a distribution agreement with Century Small Business Solutions Inc., a subsidiary of CBIZ Inc. (Nasdaq: CBIZ), and one of the largest networks of accounting and tax franchises in the nation.
In accordance with the terms of the agreement, Century Small Business Solutions will immediately begin a phased rollout of NetLedger’s Web-based accounting solution to its 550 U.S. franchise units. Each participating franchise will be equipped with a hyperlink on its Web site that enables their small-business clients to quickly and easily set up an account with NetLedger. Once on board, both the accounting professional and the client have easy and secure online access to the client’s records, making it convenient to work together and share real-time information.
“The endorsement of such a large and well-respected group of accounting entities is both an honor and a tremendous opportunity for NetLedger,” said Bill Mirbach, president and chief executive officer of NetLedger, Inc. “Century Small Business Solutions gives us an entry to its thousands of small business clients throughout the country who can benefit from our feature-rich Web-based accounting solution.”
NetLedger gives users the ability to do everything from managing accounts receivable to writing checks to accessing financial reports. Subscribers pay $4.95 per month per user, which includes controlled access by the business’ accountant.
NetLedger’s accounting solution will be integrated with Century Small Business Solutions’ other financial tools to streamline the overall record-keeping process. NetLedger has also established a dedicated telephone/email support team for this customer group. Each franchise accounting group has the opportunity to participate in a revenue-sharing program based upon the number of clients it signs up for NetLedger.
“NetLedger will become one of the key accounting tools that Century Small Business Solutions offers to its accounting franchise members,” said David Bethea, president and CEO of Century Small Business Solutions. “We believe that ASPs such as NetLedger are the wave of the future in meeting the needs of small businesses. Using the power of the Internet, NetLedger delivers a comprehensive and affordable accounting solution that will help us meet our critical goal of freeing small businesses from unnecessary complexities so they can focus on their core operations.”
About Century Small Business Solutions
Century Small Business Solutions is a subsidiary of CBIZ Inc. (Nasdaq: CBIZ), a leading provider of outsourced business services to small and medium-sized businesses. CBIZ’s integrated services include accounting systems, advisory and tax; litigation advisory; benefits design and administration; human resources; information technology systems; payroll administration; specialty insurance; valuation; and workers’ compensation.
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