Equistar Contract Fuels Veramark Expansion of Telemanagement Service Bureau Operations
PITTSFORD, N.Y.--(BUSINESS WIRE)--Sept. 30, 1999--Veramark Technologies, Inc. (Nasdaq:VERA - news) today announced the signing of a telemanagement service bureau contract with Equistar Chemicals L.P. Under the agreement, Veramark will provide 26 Equistar facilities with outsourced telemanagement services from Veramark's headquarters in Pittsford, New York. The services to be provided by Veramark include telephone call accounting and network moves, adds and changes. The contract has a two-year term.
Equistar's telecommunications network consists of an all-Lucent lineup of Definity PBXs. Each Equistar site will be automatically polled one or more times per day by Veramark's telemanagement center. Network charges will be calculated using Veramark's world-class rating engine and rate & tariff library. These charges will then be allocated to Equistar cost centers.
The Veramark telemanagement center will also communicate directly with the Lucent Definity PBX to maintain synchronization of databases thereby improving the quality of service provided to Equistar network users.
David G. Mazzella, Veramark President and CEO, commenting on the announcement said, ''The operation of a telemanagement service bureau is an excellent use of Veramark's technological and operational know-how. For our customers, the service bureau provides exceptional value with all the benefits of our licensed software. For Veramark the service bureau represents an additional means to market our expertise while building recurring monthly revenue.''
Mollye Kirk, Equistar's Manager, Telecommunications, added, ''Equistar wants the benefits of sophisticated telemanagement tools without devoting the time of our staff to operating the system. For us, outsourcing the operational tasks makes great business sense.''
Veramark's telemanagement service bureau provides customers with a high level of data security and data integrity. Redundant processors are used to eliminate risk of data loss.
Equistar Chemicals is a $6 billion global leader in the production of petrochemical products based in Houston. Equistar has more than 5,000 employees.
Veramark Technologies, Inc. is engaged in the design, production and servicing of telecommunications management and billing systems for users and providers of telecommunications services in the global market. Call accounting and telemanagement cost control services are provided as purchased software packages and also on a service bureau and outsourced facilities management basis.
The forward looking statements contained in this release are estimates by the Company's management of future performance and are subject to a variety of risks and uncertainties that could cause actual results to differ materially from management's current expectations.
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Contact:
Veramark Technologies, Inc.
Robert L. Boxer, 716-383-6803
veramark.com
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