For Immediate Release:
OpenAir receives unqualified SAS 70 Type II report
Company has been SAS 70 Type II certified since 2005
Boston, MAApril 5, 2006OpenAir, the leading professional services automation (PSA) software provider, today announced that it has received an unqualified SAS 70 Type II report.
The SAS 70 examination, conducted by its independent auditors McGladrey & Pullen, included OpenAir's operations, software, hardware, internal controls and hosting facilities. OpenAir has been SAS 70 Type II certified since 2005.
A SAS 70 Type II audit addresses the internal controls of services organizations, such as OpenAir, by testing relevant internal controls and operations, including the relevant controls and procedures regarding the OpenAir PSA solution. A Type II report is even more stringent that a Type I report as it audits a company's control activities and operations over a minimum six month period of time, rather than at a single point in time.
A SAS 70 audit is part of the regulatory regime outlined by the Sarbanes-Oxley legislative requirements and an essential component for companies providing services to public companies. As the OpenAir PSA solution is used by private and public companies to generate key inputs Ð including complex revenue calculations Ð to their financial statements, an unqualified SAS 70 Type II opinion is a necessity for both OpenAir and its customers.
"We are very proud of our unqualified SAS 70 Type II report," Morris Panner, CEO of OpenAir, said. "We are a critical part of our client's internal compliance and control regime. Our public and private company customers can use our software with confidence."
OpenAir is the Web-native professional services automation solution that helps independent software vendors, marketing services companies, consulting firms, and internal corporate service organizations increase top-line growth, improve operations and enhance financial controls. OpenAir customers increase profits by capturing additional billable hours, increasing employee utilization, streamlining project management, accelerating revenue, enhancing collaboration, improving revenue recognition and project accounting, and sharing knowledge and best practices throughout the organization. OpenAir has helped leading services organizations across six continents increase profits through the subscription-based OpenAir Complete solution.
For additional information, visit www.openair.com, call 888.367.1715 or email email@example.com.
About SAS 70
Statement on Auditing Standards (SAS) No. 70, Service Organizations, is an internationally recognized auditing standard developed by the American Institute of Certified Public Accountants (AICPA). A SAS 70 audit or service auditor's examination is widely recognized, because it represents that a service organization has been through an in-depth audit of their control activities, which generally include controls over information technology and related processes. In today's global economy, service organizations or service providers must demonstrate that they have adequate controls and safeguards when they host or process data belonging to their customers. In addition, the requirements of Section 404 of the Sarbanes-Oxley Act of 2002 make SAS 70 audit reports even more important to the process of reporting on effective internal controls at service organizations.