SAASU NETACCOUNTS TAKES THE LEAD AFTER FEDERAL BUDGET - WORLD FIRST

NetAccounts by Saasu is the leading online accounting and business management service delivered purely over the Internet to thousands of small and medium size enterprises in Australia and the region.

This announcement includes what is believed to be at least one 'world first' in the wider SaaS (Software As a Service) space. The SaaS trend is rapidly changing the lives of millions globally because professionals and business owners can work from home, office or on the road - instantly accessing business applications over the web instead of installing software.

Core Service Improvements
• The Federal Budget Announcement on Wednesday evening by Australian Federal Treasurer Peter Costello announced a range of new tax rates for Australian residents.

In what is believed to be a first in Australia and possibly a world first (and the first of many changes which demonstrate the power of the Saasu NetAccounts architecture) all clients (spanning thousands of users) are upgraded to the new tax scales immediately and automatically with absolutely no additional cost or effort.

Depending on the release of the final information from the ATO systems liason unit this will be as sooon as 3 working days after the treasurers announcement and the first in the industry.
• The 750,000 users of salesforce.com world wide (spanning 30,000 businesses) now have the ability to link their CRM on salesforce.com with NetAccounts using the new Saasu web services connector between the two SaaS providers. In another striking example of the benefits of SaaS, this feature is also available to all users of the appropriate version immediately and at no additional cost.
• Saasu will typically deliver 6+ releases per annum for all users at no additional cost. Releases will include product enhancements and regulatory compliance (such as the tax tables).

Corporate Announcements
• The new CEO effective immediately is Peter J Cooper formerly of Australian Stock Exchange, Rothschild, Macquarie Bank, Standard Chartered Bank, Cameron Systems and Smarts Group. Mr Cooper has over 20 years financial technology experience and has led a number of successful innovative global technology companies. Watch CeBIT video...
• Founder and former CEO Marc Lehmann has taken up the role of Executive Chairman. Watch CeBIT video...
• The leading Asia Pacific salesforce.com partner Sqware Peg is also now a Saasu partner. Sqware Peg will apply their NetAccounts extensions to their Express Success project delivery and integration methodology.
• The parent company of NetAccounts recently re-branded to the new Saasu name. Formerly called NetApplica the change to Saasu is intended to recognise the wider role of the firm in providing a range of products and more specifically that are delivered purely via the internet using SaaS (Software as a Service). Saasu is an information utility for businesses, particularly small and medium size enterprises it makes sophisticated business services and delivers them at variable cost (with no upfront invesment ) and easy to use as turning on a tap or a light switch.
• While the company is currently self-funded, two additional senior investors bringing cash, skills and other strategic relationships have also been added to the share register. The majority of existing shareholders have also increased their investment to avoid dilution and as a sign of confidence.

Senior Management Comment

'We are extremely pleased to be moving further up the world class SaaS (Software as a Service) ladder' said Founder and Executive Chairman Marc Lehmann. 'The promise of SaaS saving time and money is now a reality for businesses globally and a string of positive feedback at CEBIT last week reconfirmed this first hand. I would like to extend a warm welcome to Peter Cooper as our new CEO, his blue chip financial technology experience is already paying dividends.'

'Old style software providers just can't compete with the Saasu model or our rate of innovation and delivery' said CEO Peter J Cooper. 'We share infrastructure across our client base reducing cost to client & enabling us to upgrade thousands of businesses literally overnight'.

'In stark contrast, our competitors have to ship hundreds of thousands of disks or individual downloads & then provide support calls which can take months & waste client money & time. Even more importantly, instead of going through that pain (& for typically less than half the cost of just one upgrade of their old style software) Saasu NetAccounts clients can simplify life today and clients never have to upgrade or backup again because we do it automatically for them.'

'Through our service partners & online tutorials we also provide quick & easy migration from the major old style software packages' explained Mr Cooper.