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

MORE THAN 1,000 COMPANIES SWITCH TO NETSUITE FROM QUICKBOOKS

Customers Tout the Power of Using One System to Run Their Business

SAN MATEO, CA—August 18, 2004—NetSuite, Inc., today announced that more than 1,000 companies have switched from QuickBooks to NetSuite since the company's first product launch in 1999. With the new NetSuite Small Business announced today (see the accompanying press release), more businesses outgrowing QuickBooks will be able to use the enhanced migration wizard to easily and seamlessly switch to NetSuite Small Business. For more information about how to switch from QuickBooks to NetSuite Small Business, please go to www.netsuite.com/qbdefectors. NetSuite's award-winning products include NetSuite, NetSuite Small Business, NetERP, NetCRM, and NetCommerce.

Businesses outgrowing QuickBooks switched to NetSuite Small Business for the following key factors:

• NetSuite Small Business provides one system to run a business, eliminating redundant data entry, and the time, cost and error associated with multiple systems for finance, sales, warehouse management, customer support and ecommerce.
• NetSuite is an on-demand solution, eliminating the cost of managing, maintaining and upgrading business applications.
• NetSuite is a far more powerful and secure solution than small businesses could hope to piece together on their own. Built on an Oracle database, and secured in a 24x7 remote hosting facility with redundant power supply and Internet bandwidth, NetSuite Small Business can support an unlimited number of users and can be accessed anytime, anywhere in the world.

"QuickBooks couldn't grow with our business," said Preston Poulter, Vice President of The Poulter Company (www.poultercompany.com), a Dallas, Texas-based flooring products manufacturer and distributor. "The fact that we had multiple physical locations made QuickBooks limiting. With NetSuite, I'm able to monitor what's going on better. It's allowing us to continue working in our Mac environment, compare what one branch is doing versus another branch, and consolidate taxes and the balance sheet, which we weren't able to do previously."

"We knew we needed an online application so we started using QuickBooks Online, but we had less than stellar results," said Chris Hills, Managing Partner of Mill Creek, Wash.-based IP security video software company D3Data LLC (www.d3data.com). "First off, integration with our other systems was out of the question. Also, there were many features that were missing which we desperately needed to run our business. NetSuite had all the functionality we needed and more; plus it saved us $80,000 a year in productivity enhancements alone."

"In less than a day, the NetSuite team took our existing QuickBooks files and loaded them into NetSuite," said Dean Mitchell, Partner of Projector Doctor (www.projectordoctor.com), a projector repair business based in San Diego, Calif. "And NetSuite's robust inventory management functionality eliminated our redundant Excel spreadsheets. Now we're not only able to find everything, but also track where components are in the repair process of a given job."

"When I first bought EnergyFirst, I inherited a business with QuickBooks and two Microsoft Access '97 databases—one for phone orders and another for Internet orders. It was a disaster," said Gerry Morton, President and CEO of NutriScience Corp. and EnergyFirst (www.energyfirst.com), a nutrition products company based in Hermosa Beach, Calif. "It was hard enough getting customer data under one roof to mine it efficiently, not to mention the fact that QuickBooks didn't integrate with Access. With NetSuite, we save $25,000 a year through reduced administrative expenses alone. What's more, NetSuite's advanced marketing functionality has increased our revenue substantially."

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