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The Green SheetGreen Sheet

The Green Sheet Online Edition

November 12, 2012 • Issue 12:11:01

New Products

A platform for smart businesses

Product: Newtek Advantage
Company: Newtek Business Services Inc.

Newtek Business Services Inc., The Small Business Authority, recently added Newtek Advantage to its merchant offerings. The cloud-based operating platform is designed to permit small and midsize businesses (SMBs) to manage multichannel transactions, as well as economic and web traffic data - in real time - via smart phone, tablet, laptop and PC devices.

The reasoning behind the product, offered free to existing Newtek client businesses, is simple. "We believe that mobile applications hosted in the cloud will continue to proliferate and become the standard for independent business owners," stated Barry Sloane, Newtek President and Chief Executive Officer.

Prior to the product's invitation-only launch, Tobin Smith, founder of NBT Equities Research and Editor-in-Chief of CloudInvestor.com said, "The mobile data revolution means nothing to a small-business manager unless they can get what they need whenever and wherever they are.

"What is revolutionary about the new Newtek Advantage is that it is a mobile SMB management platform, not just an app. The Newtek Advantage puts the key management and decision-making data on a smart phone, table or laptop in real time."

Newtek Advantage tracks and reports live transactions such as credit, debit and gift card payments, returns and chargebacks, all in real-time, the company noted. Website statistics - including daily, weekly or monthly visitors and page views; which search terms were used to locate a site; and actions taken once on a site - can be used to determine necessary next steps.

"We spent years developing this platform internally and have recently filed a patent application with the U.S. Patent office on this revolutionary state-of-the-art business system," Sloane said. Newtek reported it is processing more than $4 billion in electronic payments annually and hosts over 58,000 business websites via its secure, PCI Level 4-compliant data center. Newtek Advantage is the first in a series of cloud-based platforms and applications the company plans to release.

Future product launches are expected to include Payroll in the Cloud and Insurance in the Cloud applications, both of which will be compatible with Newtek Advantage, the company said. Newtek works with independent sales agent and business executive partners in marketing its SMB solutions and programs; it also offers backup support to ensure success, the company stated.

Newtek Business Services Inc.
800-277-6990, ext. 13938
www.thesba.com end of article

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