NETLEDGER EXPANDS WORK FORCE BY 80% AND ADDS FOUR NEW SALES LOCATIONS
SAN MATEO, CA. - March 27, 2002 -- NetLedger, Inc., makers of Oracle(r)
Small Business Suite, today announced it has expanded its workforce by
80 percent since a year ago and opened four new sales locations to accommodate
growing demand for its product offerings including NetCRM(tm), NetSuite(tm),
and Oracle Small Business Suite. The Oracle Small Business Suite name is
used under license from Oracle Corporation (NASDAQ: ORCL).
Despite a sluggish economic environment, NetLedger has seen five-fold growth
in revenues over the past six months. To meet the demand for the company`s
product offerings, positions have been created in all areas of the company,
with a focus on the direct and channel sales. As part of the expansion,
four new sales locations have been opened in New York, Seattle, South Carolina,
and Chicago.
"We are growing our team to meet the increasing demand for our products,"
said Zach Nelson, president and CEO of NetLedger. "When I look at all the
reasons why this company is succeeding - the cost savings offered by our
Web-based model, the broad functionality of our products, and the short
implementation time - it is no surprise that we are bucking the trend during
this down economy."
Delivered as online services, NetLedger`s products enable companies to
manage all key business processes in a single, integrated system. There
is no hardware to procure, no large, up-front license fee, no maintenance
fees associated with hardware or software, and no complex set-ups. Since
NetLedger`s first online application launch in 1999, the company has surpassed
the 6,000-customer milestone, making it the leading provider of integrated
online ERP/CRM application services for small and mid-sized businesses.
About NetLedger, Inc.
Founded in 1998, NetLedger, Inc. is a leading provider of ERP and CRM application software for small and mid-sized businesses. In addition to NetLedger(tm)
Advanced Accounting, NetCRM(tm), and NetSuite(tm), NetLedger`s products
also include Oracle Small Business Suite, which has won many prestigious
industry awards, such as the PC Magazine Editors` Choice Awards in 2001
and 2002; PC World Best Bets 2001; PC World 2001 World Class Award; Forbes.com`s
Best of the Web 2001 and 2002; and Upside Hot 100 2002. Recently NetLedger`s
NetSuite has won five stars out of five from PC Magazine. NetLedger also
provides enhanced, integrated solutions through its strategic partnerships
including Yahoo! Inc. (Nasdaq: YHOO), Paytrust, and Innovative Merchant
Solutions. The company currently has more than 6,000 companies using its
products and the company`s investors include Larry Ellison, StarVest Partners
L.P., ADP and PaineWebber. For more information about NetLedger visit www.netledger.com.
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