ELLISON-BACKED NETLEDGER DELIVERS WEB-BASED OUTSOURCED SOLUTION BASED ON ORACLE 8I TO SMALL BUSINESS
Web-based Application Gives Small Businesses Easy-to-use,
Reliable and Secure Accounting, Anywhere, Anytime
Menlo Park, Calif,—August 9, 1999—NetLedger,
the premiere provider of Web-based applications for
small business, today launched the Webs first
outsourced accounting application for companies of one
to fifty employees. NetLedgers application is
the first in a series of integrated, cost-saving business
applications the company is developing to address the
needs of todays small businesses. Based on the
Oracle 8i® database, NetLedger delivers the reliability
of an enterprise-level accounting solution combined
with the ease of use of small business accounting packages.
NetLedger starts at $4.95 per month and is accessible
using only a Web browser.
NetLedger, headquartered in Menlo Park, California,
is backed by Larry Ellison, Chairman of NetLedger and
CEO of Oracle Corporation. Established in September
1998, NetLedger will become a leader in the outsourced
small business application space with its first offering
of online accounting available in late August. Future
releases of business applications include e-stores that
communicate directly with accounting software; customer
relationship management tools; and online supply procurement.
Future versions of NetLedger will be compatible with
popular payroll services and will allow franchise integration
with central offices running Oracle Financials®.
"Emerging Internet technology has created a new
and currently untapped market online accounting
for small business," commented Evan Goldberg, president
and CEO of NetLedger. "Our strategy is to establish
and own this space by providing a series of integrated
applications that offer a competitive advantage to small
and growing companies in this Internet driven economy."
Todays virtual, satellite and telecommuting
offices with 24x7 workdays require Web-based business
processes to conduct business efficiently and competitively.
The NetLedger solution is specifically designed to address
the demand of this new generation of small business.
About NetLedger Accounting
NetLedgers revolutionary web-based platform enables
small businesses and their accountants to enter transactions,
view reports and maintain lists of customers and vendors.
It includes full accounts receivable and accounts receivable
tracking, as well as an intuitive user interface for
easy set up and use. Accessible via any 4.0+ Web browser
on the Internet, NetLedger will be available anywhere,
anytime. It is designed to run effectively at connection
speeds as low as 28.8K. Quickbooks® users can instantly
convert their data to NetLedger. Checks and invoices
are printed using free Adobe Acrobat® software running
directly in the browser.
Reliability and Enterprise Power for Small Business
NetLedger brings the power of the industry-leading
Oracle 8i database and an enterprise quality infrastructure
at a competitive price to small businesses. The power,
reliability and scalability of Oracle enables NetLedger
to offer secure, multi-user, granular accessibility
to company finances.
To manage the Internet delivery of the NetLedger solution,
the company has chosen Oracle Business OnLine as its
application hosting platform. Oracle Business OnLine
offers NetLedger customers 24x7 application management
with high bandwidth availability. Data security is ensured
through the use of encryption over the network and robust
"Business OnLine enables small businesses to achieve
high levels of performance and security, utilizing the
same technology infrastructure and expert staff used
to manage the mission critical data of Fortune 500 companies,"
said Chris Russell, president, Oracle Business OnLine.
The NetLedger - Business OnLine alliance levels the
playing field for small businesses, providing them powerful
applications to run their business, and with significant
Price and Availability
NetLedger will be available late-August starting at
a cost of $4.95 per month for 1000 transactions and
10 users. This includes free email-accessible service
and support. Telephone support will be available at
an additional cost.
For more information about NetSuite please visit our
Web site at www.netsuite.com.
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and/or its affiliates.