Veramark Unveils Next-Generation Telecom Expense Management Software

PITTSFORD, N.Y.--(BUSINESS WIRE)--Veramark Technologies, Inc. (VERA.OB), a leading provider of Telecom Expense Management (TEM) solutions, today announced the release of VeraSMART^® 8.1 Communications Management Suite. VeraSMART 8.1 delivers improved usability, reliability, and productivity. Enhancements include a self-service wireless procurement solution and a configurable interface that empowers every user in the enterprise to participate in telecom expense reduction.

“Wireless is one of the fastest growing segments of corporate spend”

“The technology and enhancements introduced with VeraSMART help companies reduce their telecom costs and improve the bottom line, which is especially valuable in today’s difficult economy,” said Tony Mazzullo, Veramark President and CEO. “VeraSMART 8.1 features the new MySMART^™ portal – a user-friendly ‘window’ to the information and capabilities they need to manage their telecom expenses and maximize their productivity.”

MySMART can be configured by the VeraSMART system administrator to meet the needs of each user, based on the user’s assigned roles and responsibilities. MySMART displays the user’s telecom activity, devices and services, and allocated charges, as well as any VeraSMART reports they receive or use in their daily operations.

“Telecom expense management has traditionally been the sole responsibility of managers who monitored telecom activity and expenses and generated reports to the organization,” said Mazzullo. “MySMART is a new approach that extends telecom cost consciousness throughout the enterprise. By placing telecom activity and expense reports on every desktop, MySMART raises awareness, improves accountability, and encourages responsible use of telecom resources. And MySMART can be easily integrated into a corporate intranet built using Web portals like Microsoft^® SharePoint^®.”

MySMART interfaces with the VeraSMART Service Management component, providing a conduit for workflow requests and approvals. Users can submit requests, view the status of all their requests, and receive and respond to approval requests in MySMART. Veramark can build custom workflows to meet the unique business requirements of each customer, and also offers optional pre-packaged workflows.

Wireless Procurement is the first in a planned library of pre-packaged solutions that will provide end-to-end business process management through the MySMART portal. Wireless Procurement lets each MySMART user order wireless devices and services through a configurable online catalog, automatically routes the order to appropriate individuals for review, and updates VeraSMART invoice and inventory systems.

“Wireless is one of the fastest growing segments of corporate spend,” said Tom McAlees, Vice President of Engineering and Operations. “Our Wireless Procurement package will help our customers take control of wireless spend, eliminate off-contract purchases, improve compliance with corporate policies, and reduce overall telecom expenses.”

Additional enhancements in VeraSMART 8.1 include:

Support for multi-national currencies – The VeraSMART International option can now process charges and generate reports in any currency, helping users meet the needs of their international customers.
Security and convenience – VeraSMART provides a pluggable authentication infrastructure, offering the ability to integrate with virtually any corporate authentication platform. Out of the box support is provided for Windows® and VeraSMART native authentication. System administrators can easily and conveniently create security groups—enhancing usability and reducing administrative overhead for feature authorization.
Reliability and performance – VeraSMART now supports Windows clustering and automatic failover. If the primary server fails, VeraSMART can keep running with no loss of service or data.
Flexibility and configurability – VeraSMART now supports a greater variety of user-defined views and fields, providing customers with more flexibility to configure the system to match their unique business processes.

“Some of the most powerful enhancements are under the hood,” said McAlees. “For example, VeraSMART 8.1 is able to capture NetFlow data from Cisco^® switches and routers and other devices that support NetFlow export. Our soon-to-be released business intelligence capabilities will be able to access and report on this data as part of a broader, information technology expense management solution.”

VeraSMART enables telecom expense management and automates many functions associated with enterprise telecom order management, invoice processing and auditing, inventory and asset management, dispute management, call accounting, and reporting/analytics. VeraSMART can be deployed as part of an outsourced, hosted or licensed solution.

VeraSMART 8.1 with MySMART will begin shipping on January 19, 2009 and is available as a complimentary upgrade to current VeraSMART users with maintenance renewal. VeraSMART is available for on-premise licensing, as a managed service, and as an enabling technology through Veramark Telecom Expense Management Consulting Services. Contact Veramark for pricing information and details on the Wireless Procurement add-on.

For more information about features, upgrades, and pricing, contact Veramark at info@veramark.com or visit us on the Web www.veramark.com.

About Veramark Technologies, Inc.

Veramark is a leading provider of communications management solutions that help organizations gain visibility into their communications networks and reduce expenses associated with their voice, data, and wireless services and infrastructure. Veramark solutions, which include software and services for Telecom Expense Management (TEM), provide business intelligence for managing complex unified communications networks on a global scale. For more information, visit www.veramark.com.

Veramark and VeraSMART are registered trademarks of Veramark Technologies, Inc. MySMART is a trademark of Veramark Technologies, Inc. All other trademarks are the property of their respective owners.

This report may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. A variety of factors could cause actual results to differ from the anticipated results expressed in such forward-looking statements. These may include but are not necessarily limited to changes in general economic conditions in the United States and overseas, technological changes in the telecommunications or computer industries, the timely and successful launch of planned new products, the timely installation and acceptance by end-user customers, and the impact of competition or changes in the marketing strategies of major distributors.