Vcommerce Achieves SAS 70 Type II Certification
Monday June 5, 8:30 am ET
Vcommerce Helps Clients Succeed in Complying with Sarbanes-Oxley and Provides Assurances on IT Controls
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--June 5, 2006--Vcommerce, the market leader in on-demand commerce and fulfillment solutions, announced today that it has successfully completed a Statement on Auditing Standards No. 70 (SAS 70) Type II audit of its online ecommerce service by KPMG, a nationally recognized public accounting firm. This certification helps Vcommerce clients reduce the risks and costs associated with meeting Sarbanes-Oxley and other audit requirements. It also distinguishes Vcommerce as a provider of secure and reliable ecommerce services with solid internal controls and business processes.
The SAS 70 is an internationally-recognized auditing standard developed by the American Institute of Certified Public Accountants (AICPA) and a Type II certification, which is the most rigorous, validates that the service provider has completed an in-depth analysis of its information technology and related processes. The SAS 70 report is often used by public companies to meet Sarbanes-Oxley (SOX) Section 404 compliance requirements and by other companies who are planning on going public, preparing to be acquired or who wish to adopt best-practice principles.
"We are finding that as more and more of our clients fall directly or indirectly under the influence of SOX Section 404, that a SAS 70 report is increasingly valuable, if not a prerequisite, to meeting our clients' needs," said Dan Clarke, CEO of Vcommerce. "It also represents our commitment to providing the next level of service and IT security for our clients, who can be confident that the Vcommerce service operates under reasonable controls and is compliant with evolving regulatory mandates."
"This SAS 70 certification reaffirms our recent decision to acquire a significant stake in Vcommerce," adds Michael Zisman, Managing Director, at Internet Capital Group (Nasdaq: ICGE - News), a major Vcommerce investor. "Our expertise is identifying and supporting technologies that help streamline and automate business processes and reduce transaction costs between firms. We anticipate that Vcommerce clients will be able to extract significant value through this increased compliance, not only in the form of reduced audit costs, but also in the ability to leverage this added control and visibility to improve the efficiencies of their ecommerce operations."
About Vcommerce
Vcommerce is the market leader in on-demand commerce and fulfillment solutions for multi-channel retailers and direct-to-consumer companies of all types. With nearly a decade of experience, Vcommerce counts two of the top three fastest-growing online retailers among its clients and has integrated thousands of suppliers and processed over $1 billion in goods for such leading merchants as Target, Overstock.com, eToys Direct, David's Bridal and MTV Networks. Headquartered in Scottsdale, Ariz., Vcommerce is SAS 70 Type II certified. The company is privately held, and its investors include Internet Capital Group, Inc. (Nasdaq: ICGE - News). For more information, please visit www.vcommerce.com or call 480.922.9922. |
