SOURCE: Veramark Technologies, Inc.

Veramark Technologies, Inc.

September 09, 2009 16:00 ET

Veramark Introduces VeraSMART 9.0 With Integrated Telecom Expense Contract Management

New Breakthrough Technology Provides Visibility and Control Throughout the Lifecycle of Telecom Contract Management

PITTSFORD, NY--(Marketwire - September 9, 2009) - Veramark Technologies, Inc. (OTCBB: VERA), a leading provider of Telecom Expense Management (TEM) solutions, today announced the introduction of VeraSMART® 9.0, which features a new Contract Management module that allows organizations to control, automate, and gain visibility into contract spend. Off-the-shelf VeraSMART 9.0 helps organizations optimize their telecom network, improve productivity, and reduce telecom expenses.

VeraSMART 9.0 Contract Management module uniquely enables invoice-to-contract validation and order-to-contract compliance. It automates tedious invoice auditing against contract rates, enabling organizations to capture cost savings with significantly less effort. VeraSMART 9.0 captures contracted pricing, allowing organizations to control ordering and telecom spend and to leverage contracted rates, terms, and conditions. VeraSMART 9.0 provides the ability to summarize contract performance information and analyze contract data to proactively manage vendor relationships, and contracts -- actionable information required for effective negotiations. Contract performance dashboards allow organizations to monitor active contracts and highlight those that require attention. Contract performance analytics provide interactive tools to analyze contracts performance across telecom services. Contract management scorecards provide insight into individual contract performance, commitment tracking, and forecasting. Automated process workflows track and alert IT or procurement managers of pending expirations, allowing organizations to be more proactive in renewing or terminating IT contracts. VeraSMART 9.0 offers a variety of pre-packaged process workflows for contract management, MACD, wireline and wireless ordering and procurement, expense recovery, and invoice tracking.

"VeraSMART 9.0 is yet another confirmation of the great work Veramark engineers do day in and day out to help keep the telecom expense management industry moving forward," said Tony Mazzullo, President and CEO of Veramark. "Our new contract management module is an example of the innovative products we consistently deliver to provide differentiated, value-add solutions for our customers. Telecom managers and IT departments can now quickly analyze contract data and calculate performance metrics to proactively manage vendor relationships and contracts, and access the information required for effective negotiations, in contrast to the typical manual methods of tracking vendor contracts," said Mazzullo. "Organizations can realize savings of 10 percent or more of their total telecom spend through proactive contract management. VeraSMART 9.0 represents the type of technology, automation, and innovation our customers expect from us to further reduce their expenses and manage the telecom environment."

VeraSMART 9.0 also includes a sweeping set of improvements aimed at further boosting performance and usability through a variety of new features and functionality. These include invoice and inventory management modules that offer an enhanced unified view of telecom services and assets. New integrated business process manager allows quick implementation of packaged process workflows to streamline invoice, inventory, dispute and contract management. Online product catalogs enable integrated procurement processing and support order-to-contract compliance.

VeraSMART 9.0 will begin shipping on October 31, 2009. 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 Contract Management add-on. For more information about features, upgrades, and pricing, contact Veramark at or visit us on the Web

About Veramark Technologies, Inc.

Veramark is a leading provider of scalable, integrated enterprise solutions for telecom and IT expense and performance management. Veramark solutions provide visibility into operational expenses and generate actionable business intelligence to help organizations reduce spend and optimize business processes. Veramark solutions, which include software and services for Telecom Expense Management (TEM) and Business Process Outsourcing (BPO), enable best practices for managing complex unified communications networks on a global scale. For more information, visit

Veramark and VeraSMART are registered trademarks of Veramark Technologies, Inc. MySMART and VeraSMART Performance Advisor are trademarks of Veramark Technologies, Inc. All other trademarks are the property of their respective owners. This press release 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.

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