Netsuite "Cash For Clunkers" Program Offers Businesses Strong Incentive to Drop Stone-age On-Premise Software in Favor of Cloud Software Suites

SAN MATEO, Calif. — August 19, 2009 — NetSuite Inc. (NYSE: N), a leading vendor of cloud computing business management software suites, today announced the NetSuite "Cash for Clunkers" incentive program. For the first time, a cloud computing solution provider is offering direct incentives to help businesses turn off and turn in their antiquated on-premise software and hardware, pare back their electricity use, and switch to an efficient, cutting-edge, on-demand business management software suite. With NetSuite Cash for Clunkers, companies can realize all of the total cost of ownership benefits and productivity gains associated with switching to NetSuite, and be compensated for abandoning their current legacy, on-premise platform.

Starting immediately, all new NetSuite customers in the U.S. who shut down on-premise servers and/or trade in their on-premise enterprise software will receive $500 off of every $5,000 invested in NetSuite, above and beyond any negotiated terms. Also available in Canada, Australia and the U.K., the NetSuite Cash for Clunkers program allows new customers to receive CAD$500 off of every CAD$5,000 in Canada, AU$500 off of every AU$5,000 in Australia and £500 off of every £5000 invested in NetSuite in the U.K. This offer is valid for new customers signing up with NetSuite by October 31, 2009. For more information on the NetSuite Cash for Clunkers initiative, and how it can benefit customers worldwide, please visit http://www.netsuite.com/cashforclunkers.

Using as its model the US Government's "Car Allowance Rebate System" and similar initiatives in countries such as Germany and the U.K., NetSuite's Cash for Clunkers program is designed to help customers with aging and inefficient enterprise software platforms make an informed and responsible switch to a newer, more powerful, and more energy-efficient solution. Through the Cash for Clunkers program, NetSuite hopes to encourage corporate users of expensive, inefficient software from companies such as SAP, Microsoft, and Sage to switch to the world's leading modern, efficient, and highly customizable enterprise cloud computing solution.

NetSuite's Cash for Clunkers program is designed to remove old, inefficient enterprise software from server closets and data centers worldwide in favor of the first cloud computing solution proven to contribute to the Green Economy. A recent impact study by Greenspace demonstrated that the average NetSuite customer reduces its electricity bill by $10,000 per year after switching from an on premise system. In aggregate, the NetSuite platform saved NetSuite customers more than $61 million in energy bills in 2008, eliminating the output of nearly 423,000 metric tons of carbon dioxide.

Ditching on-premise clunkers for the modern and efficient NetSuite solution has clear, tangible, and immediate positive bottom-line impact, as well as a healthier effect on the environment.

Consider these examples:

NetSuite helped Asahi Kasei Spandex America slash its enterprise IT expenditures thirtyfold. "We were spending three percent of our revenue on SAP. By switching to NetSuite, we reduced that cost to 0.1 percent of revenue," said David Stover, Chief Financial Officer of Asahi Kasei Fibers Corp.'s Dorlastan division.
By switching from Great Plains to NetSuite, Instrumart eliminated production of paper invoices entirely, cutting invoice distribution costs by more than 75 percent. "I'm saving $6,000 per year on invoicing alone," said Brian Leffler, Vice President of Instrumart.
Schaeffer Manufacturing Company saves $100,000 per year with NetSuite on programming costs that would have been necessary to keep its AS/400 jalopy running in the 21 st century.
Wrigleyville Sports sees annual cost savings of $10,000, eliminated 600 miles of commuting per week and became a paperless office with NetSuite.
Unlike some of the government automobile incentive programs, NetSuite's Cash for Clunkers offer is easy to understand, and has no statutory budget limits or surprise end dates. This revolutionary program is intended to help more companies do the right thing by turning off their polluting and ineffective on-premise enterprise solutions, and join the world of modern, efficient, and powerful cloud computing with NetSuite.