Leading TEM Provider Helps ISC Manage Invoice Processing, Cost Allocation, and Call Accounting

Pittsford, N.Y., January 19, 2010 – International Speedway Corporation (ISC) has selected Veramark Technologies, Inc. (VERA.OB), a leading provider of Telecom Expense Management (TEM) solutions, to help the motorsports company process telecom invoices more efficiently, allocate costs, and gain more control over the use of telecom resources. The Veramark® solution will utilize the TEM provider's VeraSMART Telecom Expense Management Suite.

VeraSMART® is a scalable and fully integrated Web-based application platform that provides centralized data management, workflow automation, and business intelligence for telecom expense management. ISC has licensed VeraSMART components for call accounting, charge allocation, and invoice management to provide telecom expense management for the International Motorsports Center, the headquarters for ISC, NASCAR®, and GRAND-AMERICAN ROAD RACING ASSOCIATION®.

VeraSMART's call accounting capability will help ISC gain visibility into telecom usage, optimize network resources, and reduce expenses. The software will capture call data records for every incoming and outgoing call and let users of the system generate reports that show call destination and origin, time and duration, estimated cost, trunk usage, and more.

"VeraSMART integrates seamlessly with our extensive telecom network," said Elliott Roberts, ISC Manager of IT Telecommunications. "With VeraSMART we are able to capture and integrate data from our Avaya®, Cisco® and Nortel® switches and correlate it with our Microsoft® Active Directory in just hours. I've spent 20 years maintaining PBXs and call accounting software, and VeraSMART far exceeds anything I've used before in both depth of ability and simplicity of use."

"Manpower is an expensive commodity," said Brandon McNulty, ISC Director of Technology. "VeraSMART's ease-of-use and ability to quickly produce meaningful and concise reports make it an extremely valuable asset. We sought out an enterprise solution to help us automate day-to-day manual processes, eliminate duplication of effort, do away with department-centric databases and spreadsheets. VeraSMART addresses all our telecom expense management needs while saving ISC time and money."

VeraSMART's invoice management and allocation components will allow ISC to streamline and automatically validate invoices and allocate approved charges to appropriate departments and managers. Veramark will develop Electronic Billing Formats (EBFs) that will allow ISC to receive and process carrier invoices electronically rather than through costly paper-based and labor-intensive methods.

In addition to the VeraSMART software, implementation services, and EBF development, Veramark will provide data migration, systems integration, and training to help ISC bring the system online quickly. 

"Veramark's depth of experience in electronic invoicing made them the best choice for cutting expenses through automation," said McNulty. "In every aspect – engineering, installation, support, accuracy, reliability, and cost-saving potential – the decision to use Veramark's telecom expense management solution just made sense. We're looking forward to significant and ongoing improvements in our ability to control telecom expenses."

"Telecom is a major corporate expense," said Tony Mazzullo, Veramark's President and CEO. "Our VeraSMART TEM software helps organizations enable and enforce best practices to manage and reduce telecom expenses. We are very pleased that ISC has selected VeraSMART and we look forward to helping them use their telecom resources more efficiently and drive down their telecom costs."

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