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VERA News Veramark Announces Entry into New Markets with Asset Management Solution Sale

PITTSFORD, N.Y.--(BUSINESS WIRE)--Veramark Technologies, Inc. (OTCBB: VERA) today announced receipt of a VeraSMART upgrade for approximately $150,000 from a major freight transportation services company. The customer chose the new VeraSMART Asset Management and the Work Order module to manage their inventory and related work flow processes.

The addition of the web-based Asset Management module augments the customer’s existing VeraSMART platform with a totally integrated asset/inventory tracking system that provides users a single point of entry system-wide. The customer will have the ability to create their own work flow processes and manage a virtually unlimited variety of tangible and non-tangible assets that can be allocated with every order and trouble ticket.

The VeraSMART Invoice Management module also will be employed to manage carrier bills for calling cards and conferencing, using electronic billing formats.

The Customer had previously implemented the VeraSMART Call Accounting module to collect call records from 30 sites, and EZ-Share™, Veramark’s exclusive data import/export utility, which is used to create data exports for the company’s general ledger system and imports from other OSS systems.

VeraSMART is available as a premise-based solution, in an ASP model, or as a fully outsourced managed service (TEM), and is designed to accommodate specific business management needs. The modularity of the VeraSMART platform allows the modules to be purchased in any combination to create unique solutions that deliver meaningful returns on investment. Customers can choose from Directory, Allocation, Call Accounting, Invoice Management, Asset Management, Work Order, Wireless Management, Online Directory, and EZ-Share.

VeraSMART is available from Veramark and their leading industry partners. For more information, visit www.veramark.com.

About Veramark Technologies, Inc.

For over 20 years, Veramark’s telemanagement solutions have set the industry standard for technological excellence, application experience, and process expertise. Veramark’s completely web-based software architecture integrates communications management software with operation support systems (OSS) software. These solutions include Call Accounting, Telemanagement, Work Flow Management, Asset Management, Directory/Information Management, Service Inventory Build and Line Verification, Service Analysis and Recommendations, Wireless Optimization and Ongoing Management, Contract Analysis/Negotiations, and Billing Dispute Resolution.

This broad portfolio of products and services allows enterprises to optimize network performance, increase productivity, improve enterprise security, and measurably reduce communications expenses. By utilizing industry-standard databases, secure web-browser based user interfaces, and dynamic reporting tools, Veramark’s products and services make managing complex communications networks easy and efficient. Veramark’s web-based software architecture eliminates the need for client software and makes the software accessible from every networked PC in the enterprise. In addition to Veramark’s premise-based solutions, Veramark offers its customers a robust ASP and managed services alternative, designed to meet all or a portion of the customer’s defined needs.

The company sells and markets its solutions directly and through leveraged distribution channels to customers ranging from the Fortune 500 to small businesses as well as the public sector, including government agencies and the military. Veramark’s leadership position is demonstrated by its relationships with telecom's leaders - Avaya®, Nortel Networks®, Cisco Systems®, NEC Unified, AT&T Inc., Sprint® and others. All Veramark products and services are made and provided by personnel in the United States.

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.