NetSuite OneWorld Named Enterprise Accounting Software of the Year by UK-Based Customers

LONDON and SAN MATEO, CA — NetSuite Inc. (NYSE: N), a leading vendor of cloud computing business management software suites and top ten ERP vendor (as calculated by Gartner Dataquest), today announced that its UK-based customers have voted NetSuite OneWorld as the Enterprise Accounting Software of the year in Sift Media’s Software Satisfaction Awards 2009. NetSuite received the award at a ceremony held recently in London. The win continues NetSuite’s success in the Software Satisfaction Awards, following two Customer Relationship Management (CRM) awards that were received in the 2008 ceremony. For more information about NetSuite’s awards, please visit www.netsuite.com/awards.

“UK customers have chosen NetSuite as the best enterprise accounting software package on the market,” said Zach Nelson, CEO of NetSuite. “The award is a fantastic accolade and testament to our work on the OneWorld product. We’d like to extend our thanks to our UK customers for their continued recognition and support.”

NetSuite OneWorld is the first and only on-demand system to deliver real-time global business management and financial consolidation to mid-sized enterprises with multinational and multi-subsidiary operations. It allows companies to manage multiple subsidiaries, business units and legal entities all from a single NetSuite account. NetSuite OneWorld seamlessly handles different currencies, taxation rules, and reporting requirements – at a fraction of the cost of traditional on-premise Enterprise Resource Planning (ERP) solutions. In addition, NetSuite OneWorld has been accredited by the Institute of Chartered Accountants in England & Wales (ICAEW), and was also the first Software as a Service (SaaS) ERP solution to be accredited by the German Institute of Auditors. These certifications demonstrate the depth of functionality of NetSuite OneWorld and its fulfillment of all the ICAEW’s and German Institute of Auditors’ criteria for financial and accounting software.

Sift Media’s Software Satisfaction Awards were set up in 2006 to reward high standards from business software application vendors serving the UK. The awards are based on the views of genuine buyers and end-users of business software applications, rather than those of a judging panel. This year over 8,100 votes were cast across all categories, with participants evaluating products against four criteria: ease of use, functionality, reliability and value for money.

For more information on the Software Satisfaction Awards, please visit www.softwaresatisfaction.co.uk.

For more information about NetSuite, please visit www.netsuite.com.

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