NetLedger, the small and mid-sized business [SMB] arm of Oracle Corp., announced today it named a new president and CEO to help the company grow its business.
Zach Nelson, former chief strategy officer at Network Associates Inc. was named to the second-tier spot. Nelson left Santa Clara Calif.-based Network Associates in 2001. Prior to that he was in charge of worldwide marketing for Oracle.
Evan Goldberg, who has been NetLedgers president and CEO, will retain the top spot at the company as Nelson takes on the task of managing and expanding sales and marketing.
NetLedger – which targets companies with up to 100 employees – writes software that manages functions such as accounting, inventory and customer service. That software is then sold as Oracles Small Business Suite.
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Larry Ellison, CEO of Oracle, in Redwood Shores, Calif., owns the largest percentage of NetLedger.
The company, based in San Mateo, Calif., has been moving out of its product development phase and focusing more of its efforts on sales, officials said.
NetLedgers Goldberg is pushing for sales growth between four and five times what it is now, to $10 million this year alone. He expects to more than double sales for the following year, to around $25 million.
Goldberg said he expects the company to break even in cash flow next year and to reach profitability sometime after that.
NetLedger, however, has some stiff competition. Microsoft Corp. offers the SMB sector e-business software through its Microsoft Great Plains Business Solutions software offering.
In May, Microsoft purchased Navision for $1.3 billion. That company, and its technology, brings deep ties into Europe, the Middle East and Asia through a network of 2000 partners
At the same time, software giant SAP AG is moving downstream to target the SMB market.
In March, SAP, of Waldorf, Germany, acquired TopManage, which has become the SMB arm of SAP that targets companies with 50 or more employees.
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