Senior VP, Corporate Communications
NetLedger Partners with
Deal Opens Door for Future Integration of NetLedger
with Auctionworks' Sales and Inventory Management Tools
San Mateo, CA. - August 22, 2000 - NetLedger Inc.,
the leading application service provider (ASP) that
enables small businesses to run their companies totally
online, today announced a strategic partnership with
Atlanta-based Auctionworks.com Inc. This strategic partnership
consists of two significant components. As the first
step, Auctionworks will promote and market NetLedger
to its customer base. Subsequently, Auctionworks.com
will integrate its auction sales and inventory management
tools with NetLedger, thus delivering to auction customers
a complete online auction business management solution.
Under the terms of the agreement, Auctionworks.com
will offer NetLedger's online business management and
accounting tools to its sellers. Auctionworks.com has
developed an incentive program to encourage its top
sellers to use the Auctionworks.com co-branded NetLedger
As part of the agreement, NetLedger will integrate
with Auctionworks sales and inventory management tools.
Integration of the applications using NetLedger's SMBXML
will allow data captured by AuctionWorks.com's sales
and inventory tools to be automatically reflected in
NetLedger's suite of online accounting and business
management applications. When AuctionWorks.com puts
a seller's goods on the auction block, the seller's
NetLedger account will be automatically updated to reflect
both the sale and the reduction in available inventory.
As a result of this integration, auction customers will
enjoy many benefits including eliminating double-data
entry and improved sales and inventory tracking.
"The integration of online auction management and
NetLedger's online business management and accounting
will be a first-ever capability. We believe it will
prove very important to the small businesses the New
Economy is fostering," said Bill Mirbach, president
and chief executive officer of NetLedger Inc. "We're
excited about the opportunity to help auction-oriented
e-commerce small businesses, which are a significant
part of our target market."
"NetLedger's accounting solution supports Auctionworks.com's
strategy to improve the online auction experience while
helping e-businesses to build efficient and cost-effective
backend services," said Alec Peters, founder and chief
executive officer of Auctionworks.com. "This is a winning
combination for any business that wants to sell its
inventory online efficiently and cost effectively."
NetLedger developed and released SMBXML in May 2000
as an open standard for the small- to medium-size business
community. The standard, which is unique to the ASP
industry, allows NetLedger and other ASPs to exchange
information in a common language, and thus seamlessly
integrate their products to deliver greatly enhanced
Auctionworks.com provides Web-based inventory and auction
management services to help online sellers improve and
increase sales efficiency. It works with multiple auction
sites plus with direct Web storefronts. Payment processing,
stock levels and marketing pages are all managed through
a Web browser in simple, straightforward procedures.
Auctionworks.com recently signed an exclusive licensing
agreement to search eBay for auction sites for its customers.
The majority of the top 50 eBay Power Sellers have already
agreed to use Auctionworks.com.
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