HERNDON, Va., Feb. 24, 2011 (GLOBE NEWSWIRE) -- e Plus inc. (Nasdaq:PLUS) announced today that it has successfully completed a fourth consecutive unqualified SAS 70 Type II examination for its eProcurement and content management solutions, as well as new SAS 70 Type II examinations for its IT procurement portal and asset management solutions. The Type II examinations were performed in accordance with the standards established by the American Institute of Certified Public Accountants (AICPA).
The e Plus SAS 70 report, conducted by one of the nation's leading service audit firms specializing in SAS 70 services, found that for the period of January 1, 2010 to September 30, 2010, both the design and operating effectiveness of certain controls supporting e Plus' Procure+, Content+, OneSource IT, and Manage+ solutions provided "reasonable assurance" that the specified control objectives were achieved.
The SAS 70 Type II report provides an authoritative and independent assessment of a service provider's adherence to process controls in alignment with Sarbanes-Oxley requirements. The examinations were performed in accordance with standards established by the American Institute of Certified Public Accountants and included those procedures considered necessary in the circumstances to obtain a reasonable basis for rendering an opinion. The examinations covered nearly 100 specific controls to obtain evidence about e Plus' effectiveness in meeting the control objectives."The unqualified reports such as we have received for both our eProcurement and content solutions are the highest outcome resulting from the examinations," said Ken Farber, president of e Plus Systems and Content Services. "With four consecutive unqualified SAS 70 Type II audit reports, e Plus has shown that not only do we have the rigorous controls in place in order to qualify for the audit report, but also that we have demonstrated our consistency in achieving these control objectives over several years for our hosted solutions." "We're proud to have also completed the Type II examination for OneSource IT and Manage+ services this year," explained Mark Marron, president of e Plus Technology. "We are pleased to be able to provide this new report to our customers as evidence of the well-documented and highly-disciplined control activities surrounding the development, testing, and deployment of our hosted eProcurement and content management solutions as well as our IT procurement and asset management offerings." The scope of the e Plus Type II examination included:
- Procure+, the company's eProcurement solution that provides catalog, bidding, ordering, inventory, and invoice matching management for the entire purchasing process
- Content+ and the Supplier Portal, which enables suppliers to upload and maintain their online catalogs
- OneSource IT, an automated IT portal that allows users to easily search for and source IT assets from the extensive e Plus catalog as well as simplify and automate procurement
- Manage+, a complete asset management solution that provides a hosted Internet asset repository with customized reporting and electronic data interchange capabilities, including integration with legacy enterprise systems
CONTACT: Kleyton Parkhurst, SVP ePlus inc. firstname.lastname@example.org 703-984-8150
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