New breakthrough technology provides visibility and control throughout the lifecycle of telecom contract management

PITTSFORD, N.Y., September 9, 2009 – Veramark Technologies, Inc. (VERA.OB), 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 orderto-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 will begin shipping on November 30, 2009. VeraSMART is available for on-premise licensing, as a managed service, and as an enabling technology through Veramark Telecom Expense Management Consulting Services.

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