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Veramark Awarded Telecom Expense Management Services Contract by AAA Arizona

AAA Arizona has selected Veramark Technologies, Inc. (VERA.OB) to provide call accounting, charge allocation, and invoice management services that will reduce expenses associated with processing and payment of AAA Arizona’s telecom carrier bills. Veramark, a leading Telecom Expense Management (TEM) provider, expects to generate positive NET savings for AAA Arizona in the first year of the contract and a total return on investment of approximately 200% over the course of the three-year agreement.

AAA Arizona incurs significant telecommunication costs in serving the needs of Arizona’s motorists. Veramark’s telecom expense management services will help AAA Arizona reduce the cost of managing their telecom bills by enabling electronic receipt and automatic validation of carrier invoices. Approved invoices will be exported directly into AAA Arizona’s accounts payable system for accurate, rapid processing and payment.

“Veramark’s telecom expense management services will allow us to manage our telecom invoices more efficiently and deliver better value to our members,” said Scott Bates, Director of Information Services for AAA Arizona. “Veramark’s invoice management process will be more accurate and less time-consuming than the manual methods we’ve relied on in the past. It will streamline our ability to analyze telecommunications carrier invoices, dispute incorrect charges, uncover credits, and terminate underutilized services. And it will boost staff productivity by automating the analysis, validation, allocation, and payment of telecom expenses.”

Veramark’s solution for AAA Arizona includes the Call Analytics, Charge Allocation, and Invoice Management components of Veramark’s award-winning VeraSMART Communications Management Suite, which also offers optional components for Asset/Inventory Management and Service management. The VeraSMART software will be hosted at a secure, fault-tolerant, Tier 1 facility designed for zero downtime. AAA Arizona employees will interact with the system and generate the reports they need via a user-friendly Web interface.

“Our telecommunications environment is constantly evolving to meet the needs of our customers,” said Bates. “The Veramark solution will help us proactively manage the costs of today’s complex telecom infrastructure and services.”

Veramark will develop eight new Electronic Billing Formats (EBFs) for AAA Arizona to enable electronic receipt of carrier invoices. Veramark’s custom services team will also integrate VeraSMART with AAA Arizona’s accounts payable system. Implementation of the customized service is expected to take less than four months.

“We are extremely pleased to have been awarded this project by AAA Arizona,” said Tony Mazzullo, Veramark President and CEO. “Telecom is a significant expense for most organizations. Our telecom expense management services can reduce these costs dramatically, which is especially valuable in today’s economy. Furthermore, our services are self-funding, typically paying for themselves in the first year, and generating an overall return on investment of 2:1 or greater. We look forward to delivering this kind of value for AAA Arizona, as we have for other AAA Clubs across the country.”

About AAA Arizona

AAA Arizona, the Arizona affiliate of AAA, provides automotive, insurance and auto travel services to nearly 800,000 Arizona members. Annually, AAA’s Emergency Road Service responds to more than 450,000 calls for help on the streets and highways of the state as well as providing insurance, travel, and financial services to AAA members and motorists. Since its founding in 1927, AAA Arizona has been a leading advocate for the safety and security of all travelers.

About Veramark Technologies, Inc.

Veramark is a leading provider of communications management solutions that help organizations gain visibility into their communications networks and reduce expenses associated with their voice, data, and wireless services and infrastructure. Veramark solutions, which include software and services for Telecom Expense Management (TEM), provide business intelligence for managing complex unified communications networks on a global scale. For more information, visit www.veramark.com.

Veramark and VeraSMART are registered trademarks of Veramark Technologies, Inc. All other trademarks are the property of their respective owners.

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.

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