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Veramark Technologies, Inc.: Veramark Telecom Expense Management Solution Will Help City of Beaumont Reduce Telecom Spend

^{Published on 2009-02-16 05:36:13, Last Modified on 2009-02-16 05:37:31 - Market Wire}
 

PITTSFORD, NY--(Marketwire - February 16, 2009) - The City of Beaumont, Texas, has selected Veramark Technologies, Inc. (OTCBB: [ VERA ]), a leading provider of [ Telecom Expense Management (TEM) ] solutions, to help the City 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 Communications Management Suite.

The City of Beaumont's Communications Division will use the VeraSMART software to receive telecom carrier invoices electronically, automatically validate the invoices, track and manage disputes, and allocate approved charges to appropriate City departments and managers.

"In today's economy, everyone needs to work efficiently and squeeze more productivity out of every dollar invested," said Bart Bartkowiak, Chief Technology Officer for the City of Beaumont. "The Veramark solution will help us do just that, by speeding up our invoice processing, reducing errors, and helping to eliminate overcharges and late payment penalties."

VeraSMART's call accounting capabilities will enable Beaumont's Communications Division to capture call data records for every call into or out of the City's telecom network. A powerful reporting engine will let users of the system generate reports that show call destination and origin, time and duration, estimated cost, and more.

"The Veramark system provides a vastly improved ability to track 311 call activity," said Bartkowiak. "It will give us the reporting we need to ensure that we have the right capacity, resources, and services to quickly and efficiently handle calls to the City's 311 Service Helpline."

VeraSMART is a modular, scalable, Web-based application platform that provides centralized data management, workflow automation, and business intelligence for telecom expense management. The City of Beaumont will license VeraSMART components for call accounting, charge allocation, invoice management, asset and invoice management, and service management.

Veramark will provide data migration, systems integration, and training services to help the City of Beaumont bring the system online as quickly as possible.

"Rapid ROI requires rapid implementation," said Michael Suttle, Senior VP of Worldwide Sales at Veramark. "Our VeraSMART implementations are typically completed in less than four months and pay for themselves in less than a year. We plan to meet or exceed those figures -- which are among the best in the industry -- for the City of Beaumont."

In addition to the VeraSMART software and supporting services, Veramark will develop several new Electronic Billing Formats (EBFs) that will enable the City of Beaumont to process carrier invoices electronically rather than through costly, paper-based manual methods.

"Telecom is a significant expense for municipalities," said Suttle. "Our VeraSMART software provides exceptional visibility into, and control over, telecom usage and expenses. And because VeraSMART typically generates an overall return on investment of 2:1, it's a great investment for a city to make on behalf of its citizens. We look forward to delivering this kind of value for the City of Beaumont."

About the City of Beaumont, Texas

With a population of 114,000, the City of Beaumont is one of the largest cities in Southeast Texas and the seat of Jefferson County. Jefferson County, Hardin County, and Orange County are home to 385,090 residents. Other counties, including Chambers, Liberty, Jasper, Newton and Tyler, also help make up the work force and life force of the Beaumont area.

Beaumont is rich in history, entertainment, nightlife, business, and cultural attractions. With a deep water port on the Neches River, easy road and rail access, and worldwide connections available in nearby Houston, there as many ways as reasons to visit Beaumont. For more information, visit Beaumont on the Web at [ www.discoverbeaumont.com ].

About Veramark Technologies, Inc.

Veramark is a leading provider of communications management solutions that help organizations gain visibility into their communications networks and reduce expenses associated with their voice, data, and wireless services and infrastructure. Veramark solutions, which include software and services for [ Telecom Expense Management ] (TEM), provide business intelligence for managing complex unified communications networks on a global scale. For more information, visit [ www.veramark.com ].

Veramark and VeraSMART are registered trademarks of Veramark Technologies, Inc. All other trademarks are the property of their respective owners.

This report 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.