San Mateo, Calif. (Sept. 19, 2003) -- Hosted accounting and business intelligence software maker NetLedger Inc. has changed its name to better reflect its business.

The company changed its name to NetSuite, which coincides with the launch of a new version of its lead product’s namesake.

The NetSuite product was introduced last year and today the majority of the company's more than 7,000 customers are using the product to run their business operations. The name change was contemplated a while ago, but the company held off on changing the name until assured of the product’s success.

“We were going to change the company name about a year ago, but we had so many other things going on and it really just gave us more time to market the product and the brand,” said NetSuite chief executive Zach Nelson. “While our financial applications are a key product differentiator, we are now better known for helping companies automate their end-to-end business processes.”

As to the latest version of the product, NetSuite 9.0 offers features and enhancements that automate customer relationship management, enterprise resource planning and Web operations for midsized businesses – particularly those in wholesale distribution and services companies.

One of NetSuite 9.0’s newest features is a capability that allows information “portlets” to be dragged and dropped anywhere on the user dashboard. A new “key performance indicator” portlet brings business activity monitoring front and center by allowing period-over-period performance comparisons.

Other enhancements include: UPS integration, allowing Web stores access to the entire UPS shipping API; the ability to edit customize lists right from a user dashboard; a commission management and payment feature; bill tracking; automatic generation of inventory items described by multiple attributes, such as shirts of different sizes and colors; serialized inventory; pick, pack and ship; units of measure; bar coding; and an integrated e-commerce, ERP and CRM solution.

-- Seth Fineberg

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