VeraSMART Telecom Expense Management Software Recognized for Outstanding Innovation

Pittsford, N.Y., March 2, 2010 — Veramark Technologies, Inc. (VERA.OB), a leading provider of Telecom Expense Management (TEM) solutions, has received the 2009 Internet Telephony Product of the Year Award from Technology Marketing Corporation (TMC). The award recognizes Veramark's VeraSMART telecom expense management software, which helps organizations manage and reduce their telecom and IT expenses.
 
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. Key capabilities include call accounting, invoice processing, cost allocation, inventory management, and expense and contract performance management. VeraSMART provides visibility and control for both wireless and wireline networks.

"Veramark is committed every day with a relentless drive to help our customers achieve their telecom and IT expense management goals," said Tony Mazzullo, Veramark President and CEO. "Our commitment to meeting the unique needs of our customers, along with our technology leadership and innovative approach, enables us to deliver an industry leading telecom expense management solution."
 
"We're pleased that TMC has honored us with this award. In 2009, we introduced powerful new TEM analytics and contract management capabilities that are fully integrated into our VeraSMART platform," said Mazzullo.

The first VeraSMART release in 2009 introduced the MySMART portal, a streamlined browser interface that allows users throughout the organization access their personal telecom information in the VeraSMART database, including telecom charges and reports. MySMART lets users at every level of the organization benefit from VeraSMART's TEM capabilities.
 
Mid-year, Veramark released Performance Advisor, a business intelligence engine that summarizes and analyzes the telecom data collected by VeraSMART and generates actionable information to help organizations reduce costs and improve productivity. Easy to understand dashboards and interactive analytics provide insight into telecom expenses at a glance.
 
In October of last year, Veramark announced VeraSMART 9.0, which introduced a range of innovative new capabilities, including integrated contract and vendor performance management (leveraging Performance Advisor), expanded support for business process automation, and numerous other improvements.
 
"INTERNET TELEPHONY is proud to grant Veramark a 2009 Product of the Year Award for their VeraSMART telecom expense management software. Veramark has proven its commitment to quality and excellence while addressing real needs in the marketplace," said Rich Tehrani, CEO, TMC. "We're happy to recognize and honor Veramark for their continuing development of technology that helps organizations gain visibility into their telecom environment and control it more efficiently. We look forward to more innovative solutions from them in the future."

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