FiNetrics Brings Microsoft’s .NET Vision to Life

SAN FRANCISCO – Sept. 26, 2000 – FiNetrics Inc. (www.finetrics.com), a business service provider (BSP) developing an integrated and comprehensive suite of financial applications and services for the emerging and medium-sized business market, is one of the companies taking the lead in bringing to reality Microsoft Corp.’s (Nasdaq: MSFT) .NET vision of “always on” access to personalized applications over the Internet. Demonstrating its commitment to the .NET vision, FiNetrics is showcasing its FiNetrics AccountingSource™ solution – which leverages Microsoft .NET technologies including Windows 2000, SQL Server 2000, and BizTalk Server 2000 and mySAP.com™ solutions from SAP AG (NYSE ADR: SAP), the leading provider of inter-enterprise software solutions – at the Microsoft Enterprise 2000 launch today in San Francisco.

The Microsoft .NET initiative is forging a new Internet vision in which businesses and consumers will harness technology on their own terms, accessing integrated information and services any time, any place and on any device. FiNetrics has begun to deliver that reality today.

“FiNetrics has embraced the .NET vision and is one of the companies leading the transformation to this new way of doing business,” said Geoff Nyheim, General Manager of Global Partners, Microsoft Corporation. “FiNetrics integrates mySAP.com on the Microsoft platform in a powerful yet easy-to-use hosted service accessed conveniently through the Internet.”

FiNetrics provides fast-growth companies with always-on access to a robust enterprise-class accounting application powered by mySAP.com via a secure, reliable Internet connection. In addition, FiNetrics, through AccountingSource, is redefining the relationship between a company and its accounting professionals. Accountants, who once had to rely on financial information delivered sporadically on scraps of paper, now have constant Web-based access to clients’ financial data, enabling them to detect and provide advice about financial trends within the data. No longer constrained by lack of up-to-the-minute information about their clients’ financials, accountants become strategic partners with their clients, with unprecedented opportunities to provide counsel based on an understanding of the full context of the client’s business.

“Microsoft continues to stand as the industry visionary,” said Ken Mueller, FiNetrics chief executive officer and president. “The .NET strategy makes sense for businesses, which want less complexity in the systems and processes that support their operations. Just as companies are looking for a single resource for all their finance and accounting needs, they want a single network to seamlessly link their suppliers, partners and employees – that’s what the .NET initiative will deliver.”

During the Microsoft Enterprise 2000 show, FiNetrics is demonstrating OutNumber™, a user-friendly, scalable Web-enabled accounting application powered by mySAP.com that is part of its AccountingSource solution. OutNumber provides anytime, anywhere access to accounting applications and data via the Internet so companies can manage their accounts payable, billing, accounts receivable, general ledger processes efficiently and securely online.

In addition to incorporating leading inter-enterprise software solutions from SAP into OutNumber, FiNetrics also is leveraging the power of Microsoft’s .NET technologies, including Windows 2000 Server, SQL Server 2000 and BizTalk™ Server 2000 Enterprise Edition. As one of just 20 BizTalk pre-release program partners worldwide, FiNetrics is using the technology to develop applications to enable OutNumber to seamlessly communicate with other FiNetrics offerings, including purchasing, banking, leasing and payroll services, and externally, with customer e-business sites. Microsoft’s BizTalk leverages open standards and specifications in order to integrate disparate applications independent of operating system, programming model or programming language.

“Together, SAP, Microsoft and FiNetrics have staked out a leading position in delivering affordable, scalable world-class finance and accounting applications to emerging and medium-sized businesses,” said Allen Brault, vice president of Small and Medium Business, SAP America, Inc., the U.S. subsidiary of SAP AG. “Based on mySAP.com, OutNumber provides the functionality and e-commerce capability that propel a company from startup through growth to Fortune 100 status without the need to migrate to new solutions.

Launched in August, FiNetrics AccountingSource already has more than 60 clients, including fast-growing technology startups looking for an accounting solution that will scale with their future growth. FiNetrics OutNumber provides those companies with affordable access to scalable, enterprise-class technology, without the significant investments of time and expense required to deploy a custom finance application.

“FiNetrics had our accounting application up and running much faster than it would have taken us to deploy any alternative,” said Tom Radigan, chief financial officer of eReliable Commerce, Inc., a business-to-business e-services leader. “In addition, FiNetrics has saved us the hassle of dealing with multiple financial technology and consulting vendors, while providing an easy-to-use application with robust functionality. FiNetrics continues to surpass our expectations under challenging startup conditions.”

Customers can get more information about FiNetrics AccountingSource at www.finetrics.com.

About FiNetrics AccountingSource
FiNetrics Inc. revolutionizes the way emerging and medium-sized businesses accomplish their accounting objectives by delivering scalable mySAP.com technology and seasoned financial expertise right to the desktop. FiNetrics has struck alliances with the world’s leading technology and financial consulting companies, including Microsoft, SAP, Arthur Andersen and eOnline, Inc., to deliver its comprehensive finance and accounting solution. FiNetrics AccountingSource includes:

  • OutNumber, Internet-enabled accounting, with intuitive functionality, powered by mySAP.com;
  • OutPut, outsourcing services for all accounting and business-process administration; and
  • OutSmart, senior-level financial consulting without the long-term capital investment.

About FiNetrics, Inc.
FiNetrics is a business service provider (BSP) delivering critical financial applications and services to the emerging to medium-sized business market. With its unique model, FiNetrics is a new breed of business service provider integrating both application technology and related business services into a single resource offering a full range of financial applications and professional services to manage accounting and tax, banking, insurance, leasing, purchasing, and payroll operations. FiNetrics’ outsourced and self-managed solutions free businesses from costly investments in the technical and human infrastructure to support such operations and systems. FiNetrics is a member of the divine interVentures Internet Zaibatsu™ community (Nasdaq: DVIN). For additional company or product information, please call (888) 346-4180 or visit the website at www.finetrics.com.

FiNetrics is a registered trademark of FiNetrics, Inc. All other trademarks are the properties of their respective companies.

SAP and mySAP.com are trademarks or registered trademarks of SAP AG.

Press Contact:
Kristen Fundator
Buzz PR for FiNetrics
(312) 923-2060 ext. 37664
kristen.fundator@buzzmsp.com


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