FiNetrics Enables Companies To Quickly Migrate Financial Data from QuickBooks and Introduces FiNetrics AccountingSource Advisor Powered by Arthur Andersen

Business Wire, Dec 13, 2000

Business Editors

CHICAGO--(BUSINESS WIRE)--Dec. 13, 2000

New FiNetrics OutNumber 2.0 provides free financial

application conversion, expanded functionality and

array of services to help emerging companies

achieve accounting goals

FiNetrics Inc. (www.finetrics.com), a business service provider (BSP) developing an integrated and comprehensive suite of online financial applications and services for emerging and medium-sized businesses, today announced the availability FiNetrics OutNumber(TM) 2.0 Internet accounting application. Additionally, today FiNetrics introduced FiNetrics AccountingSource Advisor(TM), a complementary consulting service providing FiNetrics clients ready online and telephone access to experienced accounting professionals who can give advice on accounting interpretations, regulations and best practices to support their evolving business needs.

Now high-growth businesses can automatically migrate their financial data from Intuit Inc.'s QuickBooks(TM) to FiNetrics' easy-to-use accounting application that will support their financial reporting needs now and as they grow. Leveraging the power of the leading enterprise technology of mySAP.com(TM), FiNetrics OutNumber now provides enhanced budgeting, web reporting and inventory tools, giving companies more detailed insight into their business operations. Available for just $19.95 per user per month, FiNetrics OutNumber frees companies from having to make significant upfront technology investments to support their accounting operations.

"The goal of FiNetrics is to make available products and services for small and medium businesses that were previously only available to larger companies. With OutNumber's new functionality powered by mySAP.com and the addition of Advisor powered by Arthur Andersen, FiNetrics is making it easier than ever for high-growth companies to successfully manage their accounting operations throughout the lifecycle of their businesses," said FiNetrics Chief Executive Officer Ken Mueller. "We now have a full suite of accounting solutions based on different customer needs. Some customers require a self-serve solution with support and others want to completely outsource their all of their accounting operations to us so that they can focus on building their businesses."

Evanston, Ill.-based Knowledge Dynamics, a leading solution provider for advanced training simulations, integrated performance support tools, and entertainment applications, turned to FiNetrics for an on-line accounting solution that would support its growth and automate payroll. The company recently migrated its financial data from QuickBooks to FiNetrics OutNumber. "We needed an accounting solution that would grow with us as we expand to offices in multiple states, but we didn't want to invest the effort typically associated with such a conversion.," said Michael Smialek, CEO of Knowledge Dynamics. "The FiNetrics migration was surprisingly painless. We can now more easily coordinate accounting functions across locations, freeing up resources to focus on our core business."

About FiNetrics OutNumber 2.0

FiNetrics OutNumber provides anytime, anywhere access to financial reporting tools and data via the Internet so companies can manage their accounts payable, billing, accounts receivable, inventory, budgeting, and general ledger processes efficiently and securely online. Because it leverages the robust functionality of mySAP.com, FiNetrics OutNumber supports high-growth companies as their financial reporting needs evolve. Now, FiNetrics enables companies to migrate their existing financial, customer and vendor data on QuickBooks to FiNetrics OutNumber so they can quickly realize the enhanced functionality of FiNetrics OutNumber without the costs and disruption of a typical data conversion.

FiNetrics OutNumber also provides improved navigation for greater ease of use and enhanced web reporting for more insightful business analysis. It gives companies the ability to:

- Create annual and monthly budgets and analyze on an individual account basis;


- Generate detailed budget and comparative income statements, general ledger,
sales, departmental and inventory reports;

- Leverage the inventory tracking system to monitor inventory quantities in
relation to sales and return activities;

- Obtain detailed help support from anywhere in the FiNetrics OutNumber
application through content sensitive pop-up windows;

- Manage time and expenses, an essential financial reporting need for services
firms, including free access for the first 10 casual users; and

- Supplement FiNetrics OutPut(TM) outsourced accounting service with Web-based
access to financial data, enabling clients to monitor and generate financial
reports at anytime and from anywhere.

Ensuring Customers' Success

FiNetrics provides a unique combination of functional accounting and financial advice, business counsel and technical support to ensure that its customers have the resources they need to succeed. FiNetrics Advisor provides high-growth companies with access to experienced accounting professionals on a minimal monthly subscription basis. In addition, FiNetrics provides its customers with technical support specifically assigned to their business, so clients always have a number to call and a person on the other end of the line who knows their business. FiNetrics also offers customers free assisted conversions to its Internet accounting application, FiNetrics OutNumber, making the process of migrating financial data from their current system fast and painless.