VeraSMART software for Telecom Expense Management recognized for innovation and ability to control and reduce telecom spend

Pittsford, N.Y., May 27, 2009 — Veramark Technologies, Inc. (VERA.OB), a leading provider of Telecom Expense Management (TEM) solutions, today announced that its TEM-enabling software, the VeraSMART® Communications Management Suite, has received the 2008 Communications Solutions Product of the Year Award from Technology Marketing Corporation (TMC).

VeraSMART provides an environment for full product lifecycle telecommunications expense management. VeraSMART helps organizations gain visibility into their communications networks and reduce expenses associated with their voice, data, and wireless services and infrastructure. For organizations trying to reduce telecommunications and information technology costs, success requires visibility into usage and spend and the means to control them. VeraSMART provides a holistic view of all telecom and IT expenses – including costs associated with managing assets, work orders, wireline and wireless usage, and service provider invoices – and gives organizations the TEM-enabling technology they need to control those costs more effectively.

"Telecom Expense Management is a services market and VeraSMART is one major differentiator for Veramark as compared to other TEM service providers," said Denise Chapman, Veramark's Director of Marketing. "It enables Veramark to provide better, faster, and more cost-effective TEM services. In addition, ease-of-use features and industry-leading support and services offer customers the option to license the software and utilize in-house staff to effectively manage telecom expenses."

Corporate telecom and IT networks continue to grow in terms of sophistication, complexity, and costs. Recognizing this, Veramark has led the industry by investing in an innovative, comprehensive platform. VeraSMART is an enterprise software platform with a single database, an integrated workflow, and an advanced analytics engine. "Better management can shave 10% - 30% of a company's telecom expenses, which goes straight to the bottom line," stated Josh Bouk, Vice President of Customer Services. "Veramark is committed to providing TEM solutions that help our customers control and reduce their communications costs. VeraSMART is the enabling technology for our TEM solutions, and we're pleased that TMC has recognized, for the second consecutive year, the exceptional value that VeraSMART represents."

VeraSMART includes innovative telecom expense management features, including the MySMART portal, a configurable Web interface that gives each user access to the VeraSMART features they need to track, manage, and reduce telecom costs. By providing users enterprise-wide with access to their telecom reports and charges, MySMART raises awareness of telecom spend, improves accountability, and
encourages responsible use of telecom resources across the enterprise.

MySMART also supports Web-based ordering and fulfillment, help desk, and other automated selfservice workflows that can be configured for each organization and user role. Pre-packaged workflows include Wireless Procurement, which makes it easy for users to place orders for approved wireless plans and products in compliance with corporate policies and negotiated rates.

"Veramark has been recognized with a 2008 Product of the Year Award for their excellence in the advancement of voice, data and/or video communications," said Rich Tehrani, TMC President and Group Editor-in-Chief. "Veramark has proven they are committed to quality and excellence in telecom expense management solutions that benefit the customer experience, as well as produce rapid ROI for the companies that use them. We are pleased to honor their hard work and accomplishments and look forward to more innovative solutions from Veramark in the future."

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