SOURCE: ValueCentric, LLC

August 07, 2006 09:00 ET

ValueCentric Completes SAS 70 Type II Audit; Achieves Compliance With Sarbanes-Oxley Regulations

ORCHARD PARK, NY -- (MARKET WIRE) -- August 7, 2006 -- ValueCentric, LLC, a leading provider of data management and performance analytics to the pharmaceutical industry, announced today that it has successfully completed a SAS 70 (Statement on Auditing Standards No. 70) Type II audit. SAS 70 is an internationally recognized auditing standard developed by the American Institute of Certified Public Accountants (AICPA).

In making the announcement, Dave Janca, ValueCentric's Founder & CEO commented, "By obtaining the SAS 70 Type II certification, our goal, as a service provider, was to deliver the assurance to our customers and prospects that we meet or exceed an extensive list of controls in both our business and technical operations. The SAS 70 certification reduces the need for our customers to build certain controls into their IT infrastructure in order to comply with Sarbanes-Oxley 404. In addition, our customers will be able to avoid certain auditing activities, since they are already covered by ValueCentric's SAS 70 Type II audit."

Under SAS 70, if an organization uses a service provider to process transactions, host data, or other significant services, a company's management team may conduct a thorough evaluation of the service organization's controls, or they may obtain a SAS 70 auditors report from the service organization. A SAS 70 certification validates that a service organization has undergone and satisfied an in-depth audit of their internal and external control activities.

ValueCentric began the SAS 70 service provider audit in January 2006. As part of the audit process, ValueCentric's systems and processes underwent extensive evaluation and testing, including: security monitoring, change management, system development life cycles, backup controls, physical and environmental safeguards, logical as well as physical access and other criteria.

"Given the substantial costs associated with non-compliance with Sarbanes-Oxley, the SAS 70 Type II audit compliance should be part of every organization's checklist when evaluating third party service providers. Today, if a ValueCentric customer is audited for Sarbanes-Oxley compliance, they will be able to hand their auditors our SAS 70 report. As a young, fast-growing company we are proud to be able to provide our customers the assurance that comes from this auditing process. At ValueCentric, we remain committed to maintaining the highest compliance standards set for the industry," Janca added.

For more information about the SAS 70 Audit Process, visit http://www.sas70.com.

About ValueCentric:

ValueCentric, LLC is a leading data and performance analytics company providing on-demand services to the pharmaceutical industry. Through its hosted data service, ValueTrak(SM), the company currently analyzes manufacturer's sales, inventory, service levels and supply chain data, including data provided through RFID. The company serves such world-class customers as AstraZeneca, Cephalon, Genzyme, JOM Pharmaceuticals and P&G Pharmaceuticals. ValueCentric's best-in-class technology strengthens and enhances the profitability of relationships between suppliers and the finished goods forward participants in their supply chain. To learn more, please visit www.valuecentric.com or contact David Flood, Vice President, Information Services, at 716-667-0297 x103.

Contact Information

  • David Flood
    Vice President, Information Services
    716-667-0297 x103