May 15, 2002

NETLEDGER expands with 15% work force growth and 3 new regional sales

SAN MATEO, Calif., May 10, 2002 - NetLedger, the company that powers the Oracle“ Small Business Suite, today announced it is expanding its work force by 15 percent and opening three new regional sales offices to accommodate growing demand for its offerings. The Oracle Small Business Suite has seen triple-digit growth in adoption and users over the last year.

My spin: I wondered what's the story behind this story and Jim LaBelle, VP Marketing NetLedger provides some more insight:

To answer your question: the main reason we are growing our work force is to keep up with demand... we've doubled our revenue over the past two months, and our sales are 10 times larger than a year ago - so the demand on our customer support and sales organizations has skyrocketed, necessitating a growth in those customer-facing departments.

In addition, we now have one integrated application that has components to help automate and streamline a company's accounting, payroll, sales and customer support efforts, create a Web store or site, and manage employee expenses - so the demand for developers and QA personnel has also grown as our solution has expanded to really reach all elements of small business processes.

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