Netsuite Launches Netsuite Giving

SAN MATEO, Calif.-NetSuite Inc., a vendor of on-demand, integrated business management software suites has launched NetSuite Giving, a philanthropic initiative designed to revolutionize the operations of charities and social enterprises.

Headed by NetSuite founder and CTO Evan Goldberg, NetSuite Giving kicked off its corporate giving program this month targeting charities, fair trade groups and green start-up companies. NetSuite Giving entails providing both charities and for-profit companies with software donations; and providing NetSuite employees with paid time off to volunteer for these organizations-to support them in effectively using the NetSuite software. NetSuite Giving not only provides a technology solution to the selected charities and companies to enable them to run their business more efficiently, but also provides best practices in implementing and using the business software more effectively. For more information about NetSuite Giving, please visit www.netsuite.com/giving.

"NetSuite has transformed the business landscape for thousands of companies globally," said NetSuite Co-founder, Chairman and CTO Evan Goldberg. "My vision is to expand the use of this spectacular technology and innovation to also help companies and nonprofits make the world a better place to live."

Charities and social enterprises face challenges similar to their small and midsized business counterparts. They struggle with high costs of IT and the costs and complexity of integrating separate and fragmented software packages to run their businesses - accounting, fund raising, ecommerce, case management, marketing and more. It has been estimated that in the U.S. charity sector alone, organizations could free up $60 billion a year by streamlining and restructuring the way in which they provide services and by reducing administrative costs.

NetSuite already addresses many of these challenges for more than 5,600 small and midsized customers around the globe. NetSuite Giving will help tackle these issues among charities and social enterprises. The first groups expected to benefit from NetSuite Giving are charities, fair trade groups and green start-up companies:

Registered Charities. Charities are increasingly asked to measure, manage and report on performance and outcomes. This reporting can be easier and less of an administrative burden when financial, operations and outcome data is stored in a single, Web-based system like NetSuite.

Fair Trade/Social Enterprises. Increasingly, companies are being formed with a double bottom line - profit and social impact. NetSuite can help reduce IT costs related to hardware, staffing, up-front licensing, upgrades, security and maintenance and allow measurement of social impact alongside profitability.

Green Start-ups/Environmental. A multitude of start-ups are being created, both for-profit firms and charities, to tackle environmental challenges. Not only can NetSuite help them achieve their missions, but also do it with a reduced environmental impact, using an energy-efficient Software as a Service.

"NetSuite Giving grantees like Goodwill Industries face the same challenges as the rest of our customer base," said Zach Nelson, CEO of NetSuite. "We're seeing the innovations we've spearheaded as a company - single software applications for running a business, an easy-to-use interface, technology enabling micro-vertical solutions - making areal difference in how grantees achieve their missions, from job training to improving medical services in the developing world."

David Geilhufe, a 15-year philanthropy and nonprofit technology veteran, was appointed to design and develop NetSuite Giving."We know that applying technology to operations can expand and extend the social impact of charities and social enterprises," he said. "The depth of our technology, the vision of our executive team, and the commitment of a leading, innovative public corporation provide an amazing opportunity to empower organizations to do good better. This was one of those jobs you just can't pass up."

Applications for the NetSuite Giving pilot program are being accepted now and the deadline to apply for the inaugural round of giving is March 21, 2008. For more information, please visit http://www.netsuite.com/giving.

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