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Contact:

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

NETLEDGER AND YAHOO! STORE EXTEND SMALL BUSINESS INTEGRATION AGREEMENT

 

SAN MATEO, CA.—May 7, 2003—NetLedger, Inc., makers of Oracle® Small Business Suite, announced today that it has extended its agreement with Yahoo! Inc.'s (Nasdaq: YHOO) Yahoo! Store (http://store.yahoo.com) to provide merchants with one seamless application to manage their business processes. For order fulfilment, credit card processing, up-to-the minute inventory, sales updates and customer service, the integration of NetLedger, Inc. and Yahoo! Store enables businesses to save time and money by streamlining their business processes, eliminating redundant data-entry, and having access to up-to-date information. The Oracle Small Business Suite name is used under license from Oracle Corporation (Nasdaq: ORCL).

Yahoo! Store is a leading e-commerce hosting service that enables more than 20,000 small business owners to establish an online presence and sell their products and services on the Web. It offers an easy solution for small businesses to own and operate a high-traffic, customisable and secure online store, while Oracle Small Business Suite automates front and back-office operations across the business. The agreement enables small businesses on Yahoo! Store to run their online business processes including Web selling, inventory management, order management, customer support, credit card processing, and accounting through one integrated solution. As part of the agreement, the companies will continue to jointly promote and market the combined solution via innovative marketing campaigns.
"Our integration with Yahoo! Store gives small businesses one seamless application service to do Web selling, inventory management, shipping, and accounting. More importantly they have easy access to customer records so that they can better provide customer support and service," said Zach Nelson, president and CEO of NetLedger, Inc. "The streamlined business processes allow small businesses unprecedented productivity and efficiencies to succeed in any economic climate."

"Yahoo! Small Business is committed to being the only place a small business needs to go to be successful online," said Rich Riley, vice president and general manager, Yahoo! Small Business. "We are pleased to continue our relationship with NetLedger, Inc. to provide small businesses with an integrated business management solution that is efficient and effective. This relationship supports our strategy to provide small businesses with the tools and resources they need to succeed online."

Integration features include:
Customer Relationship Managemen
t - With Oracle Small Business Suite, Yahoo! Store merchants can view item availability in real time without waiting for product availability information. This front and back-office functionality delivers centralised customer records and allows merchants to view customer-related data, such as which items were purchased and when, and which customers spend the most. With this data at their fingertips, merchants can handle customer support issues more effectively. By upgrading to NetSuite, merchants can also do more sophisticated things such as providing online customer support, managing leads and launching targeted marketing campaigns and promotions based on their customers' previous buying patterns.

Inventory and order synchronisation — This feature enables merchants to import Yahoo! Store item lists into NetLedger. As new orders come in, the system adjusts inventory levels automatically, merchants can view real-time inventory levels and manage stock much more accurately and timely than before, and customers can view real-time availability while shopping.

Order fulfilment and processing — With this feature, merchants can manage and fulfill orders more efficiently and eliminate the need to re-key Yahoo! Store order data into NetLedger. Merchants can track their customers' item options and view which options were selected prior to checkout; the item options import into NetLedger, where this data displays on sales orders, picking tickets and packing slips. Merchants can also track an item to a specific warehouse location to check availability, if the item is on back order or if stock levels are low. After fulfilment and processing in NetLedger, confirmation is sent back to Yahoo! Store.

Automated payment processing — This feature allows merchants to automate the capture of credit card payments for orders placed through Yahoo! Store and fulfilled in Oracle Small Business Suite. With this feature, order references and final amounts are transmitted to Yahoo! Store automatically upon order fulfilment and Yahoo! Store returns a payment confirmation to NetLedger automatically.

Seamless transition between two applications -Merchants can move easily between the two applications with single sign-on, saving them valuable time. The business data is available, anytime and anywhere, within the customisable Executive Dashboard.

Many online businesses are touting the integration of Yahoo! Store and Oracle Small Business Suite services. Just to name a few:

  • Shimmer & Stone.com, New York, New York
    "After two and a half years of running our Yahoo! Store, it wasn't until recently that I 'clicked here' to learn more about the option to integrate with Oracle Small Business Suite," said Kayshali Wickramasinghe, president of Shimmer & Stone.com (www.shimmerandstone.com), an online provider of fashion jewelry. "Now I wish I had done it sooner. We can upload all our sales data straight out of QuickBooks, and then our sales data can automatically move from Yahoo! Store to Oracle Small Business Suite. Before we had to do all this manually. It is saving us so much time, and I can already see how our growing business can continue to expand."

  • MasterGardening.com, Frederick, Maryland
    "Our mail order business began growing steadily during the Web craze years," said Jason Wiles, general manager for Trident Enterprises, which runs Deerbusters.com (www.Deerbusters.com) and Mastergardening.com (www.Mastergardening.com). "At the time we were using Dydacomp's Mail Order Manager, but upon switching to Yahoo! Stores our business began bursting open at the seams. That's when we discovered Oracle Small Business Suite for our accounting. There is such a smooth integration with our Yahoo! Stores that we never miss a beat."

  • Gifts for Professionals, Savannah, Georgia
    "NetLedger and Yahoo! Store have made a tremendous difference in our daily operations," said Shannon Burns, president of Gifts for Professionals (www.giftsforprofessionals.com), a division of Metro-Graphics. "We have been using Oracle Small Business Suite for the past year and a half, and the integration of our accounting with our Yahoo! Store is invaluable. When our customers place an order on our website, the order automatically posts into our accounting system as a sales order for approval and credit card processing. It's been a great time saver and allows our employees the flexibility of working from remote locations. Even our sales leads, prospecting, and order tracking have been simplified."

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

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