SSAE 16, developed by the American Institute of Certified Public Accountants (AICPA), is the most widely recognized authoritative guidance that provides service organizations a uniform method for disclosing independently assessed information about the design and operation of internal controls related to their services.  Companies who complete an annual SOC 1 examination are able to demonstrate a substantially higher level of assurance and operationally visibility than those companies who do not.

The completion of this examination exhibits Verian’s continued commitment to create and maintain the most stringent controls needed to ensure the highest quality and security of services provided to their customers.  The report also demonstrates that Verian’s control activities are effectively designed.

“The successful completion of the SOC 1 examination provides third-party validation that our services adhere to the highest levels of quality and security,” said Tehseen Ali Dahya, President and CEO of Verian. “While we are proud and excited about this distinguished achievement, we will continue to measure, assess, and improve how we serve our customers.”

About Verian

Verian is the world leader in universal purchasing and invoice processing systems. Regardless of the number of users, implementation complexity or deployment preference, Verian’s broad and flexible offering provides affordable, easy-to-use solutions that fit companies now – and when they change. Founded in 1997 with headquarters in Charlotte, N.C., Verian helps companies in a wide array of industries – including oil & gas, retail, healthcare, financial services and government/nonprofit – control spending and enhance visibility by providing clients with a single software platform to automate their entire purchase-to-pay process.

After completing a large acquisition, the bank migrated all its branches onto one set of enterprise computer and network systems. As part of the migration, the bank also needed a new solution that could standardize the purchasing and invoicing process across all branches and countries. With nearly 30 different currencies being used, the solution needed to handle complex conversion calculations as well.

After a thorough vendor search, the bank selected and deployed Verian’s Purchase Manager, Invoice Manager and Advanced Budgeting modules in the cloud. The Verian system will integrate directly with PeopleSoft at the bank. 

“With our branches purchasing on the same system that we process invoices with, we are able to better control and analyze all of our spend,” said the bank’s VP of Procurement and Strategic Sourcing. “We are using this data to consolidate vendors, validate contract pricing, and gain significant savings.”

The Verian system was also able to accommodate a complex web of approvals for the bank. “Through a series of simple check boxes, users relate each requisition to a project and identify as a CAPEX or OPEX item,” said Ganesh Sundaresan, Senior Product Manager with Verian. “These user-entered attributes automatically send the approval on the correct routing path, streamlining workflow and saving time.”

“This is a great example of an organization taking advantage of our platform’s superior flexibility to create a solution that meets a very unique set of requirements,” said Tehseen Ali Dahya, President and CEO of Verian. “We look forward to helping this organization become more successful now and down the road.”

About Verian
Verian is the world leader in universal purchasing and invoice processing systems. Regardless of the number of users, implementation complexity or deployment preference, Verian’s broad and flexible offering provides affordable, easy-to-use solutions that fit companies now – and when they change. Founded in 1997 with headquarters in Charlotte, N.C., Verian helps companies in a wide array of industries – including oil & gas, retail, healthcare, financial services and government/nonprofit – control spending and enhance visibility by providing clients with a single software platform to automate their entire purchase-to-pay process.

Media Contact
Adam C. Slick
Verian
704.971.6992
aslick@verian.com

January – Verian breaks ground on a 25,000 square-foot headquarters just outside of Charlotte, North Carolina. During the first month of the year, Verian picks up a handful of new clients, including Norse Energy, an E&P company based in Upstate New York.

February – Verian signs Brown Brothers Harriman, one of the largest privately-held financial institutions in the US. Verian also welcomes Evergreen Films into the fold, a motion picture and television studio. Their work has been seen on the Discovery Channel and in movies like 300, Journey to the Center of the Earth and Fantastic Four.

March – In March, Jason Busch of Spend Matters conducts a thorough analysis of Verian’s suite of products and adds the provider to his shortlist of P2P vendors he recommends. In the same month, Verian signs Beusa Energy, an E&P company based in Texas. Verian also signs Jacobs Technology, an engineering and technical services firm that serves clients including the Department of Defense, NASA, Boeing and Rolls-Royce.

April – Verian partners with Cortex Business Solutions, a leading supplier network in the E&P industry, to offer paperless invoicing. Verian also welcomes three new clients into its portfolio, including People’s United Bank. During the same month, Allstate Canada completes a Verian system upgrade and Members 1^st Credit Union goes live with Verian solutions.

May – More E&P companies come onboard in May, including Linc Energy, a global energy company based in Australia. Verian is also named one of the top 100 technology providers by Supply and Demand Chain Executive magazine for the eighth time.  Go-lives for the month of May include Privatin, a procurement consulting firm and GMX Resources, based in Oklahoma.

June – Verian releases version 10.5 of its purchasing and invoice processing software. The release includes several key enhancements developed exclusively for Verian’s growing list of E&P clients. The Verian client portfolio grows with the signing of Piedmont Natural Gas, a natural gas provider serving more than one million residents in the Southeast US.

July – Verian signs another large financial institution as RBC Financial Caribbean inks a deal with the company.

August – Filling out the credit union side of its financial services portfolio, Verian signs Chevron Federal Credit Union as a client in August. Three more clients sign with Verian during the month.

September – Calculations show that Verian’s cloud-based offering is now completing over one million customer transactions per month. During the same month, Verian signs St. Jude Medical and launches a new website.  Harbin Clinic, a healthcare provider in Georgia, completes an upgrade of Verian solutions.

October – In October, Verian signs another handful of clients, including a major cable and wire provider in North America. The Corporate Executive Board, a global research and consulting firm, goes live with Verian solutions in its US locations.

November – Verian announces is has been ranked as a top 5 vendor in four categories of Gartner’s “E-Procurement Market and Vendor Landscape” report. The company also releases Version 10.6 of its suite of purchasing and invoice processing solutions, making it even faster and easier for cloud customers to start getting returns from their investment. Verian also signs on more new clients, including DeJour Energy.

December – In December, Verian is named one of Charlotte’s 50 fastest-growing companies by the Charlotte Business Journal. Kennedy Krieger Institute, an international leader in research and treatment of pediatric disabilities, completes an upgrade while the Corporate Executive Board’s Canadian locations roll-out Verian solutions.

“For Verian, it’s always been about the success of our customers and we are truly excited to help so many new clients gain spend control and visibility,” said Tehseen Ali Dahya, President and CEO of Verian. “We expect 2012 to be even more successful, making Verian one P2P provider to watch in 2012.”

About Verian 

Verian is the world leader in universal purchasing and invoice processing systems. Regardless of the number of users, implementation complexity or deployment preference, Verian’s broad and flexible offering provides affordable, easy-to-use solutions that fit companies now – and when they change. Founded in 1997 with headquarters in Charlotte, N.C., Verian helps companies in a wide array of industries – including oil & gas, retail, healthcare, financial services and government/nonprofit – control spending and enhance visibility by providing clients with a single software platform to automate their entire purchase-to-pay process.

An interfaith organization that serves poor and homeless people with love, compassion and tangible help, the Urban Ministry Center conducts an ongoing meal drive called ‘Operation Sandwich’ to help feed the needy with volunteer-prepared homemade sandwiches. Though the program, the Ministry delivers almost 300,000 sandwiches every year. A group of thirty Verian employees worked together to make over 300 sandwiches and delivered them to the center, located in downtown Charlotte. See the team in action.

“After last year, we decided to make ‘Operation Sandwich’ a Verian tradition,” said Eric Wilson, event organizer and VP of Operations for Verian. “To give back to the community – especially during the holiday season – is something truly special for the Verian team.”

About Verian 
Verian is the world leader in universal purchasing and invoice processing systems. Regardless of the number of users, implementation complexity or deployment preference, Verian’s broad and flexible offering provides affordable, easy-to-use solutions that fit companies now – and in the future. Founded in 1997 with headquarters in Charlotte, N.C., Verian helps companies in a wide array of industries – including oil & gas, retail, healthcare, financial services and government/nonprofit – control spending and enhance visibility by providing clients with a single software platform to automate their entire purchase-to-pay process.

About the Urban Ministry Center
The Urban Ministry Center opened its doors in December 1994 as a partnership of uptown congregations and businesses to address the needs of the poor and homeless with compassion and tangible help.  The Urban Ministry Center serves as a point of entry to services offered by a network of agencies that work closely to provide necessary opportunities for the homeless population. The Ministry is an interfaith agency drawing support and volunteers from more than 130 congregations.

Media Contact:
Adam C. Slick
Marketing Communications Manager
704-971-6992
aslick@verian.com

Companies qualified for the honors based on a formula that reflects dollar and percentage growth during a three-year period. Accounting firm LarsonAllen evaluated the nominations to determine the rankings.

To maintain growth, Verian expanded its product offering and how it delivers it to be flexible enough to fit any organization, regardless of budget, size, complexity or industry.

“Our software is flexible enough to satisfy very specific and unique needs while also being incredibly easy to use, implement, and expand,” said Tehseen Ali Dahya, president and CEO of Verian. “As a result of this exclusive combination, our incremental growth has increased significantly. We look to continue our growth trajectory well into 2012 and beyond.”

The Charlotte Business Journal will recognize the Fast 50 businesses at an awards luncheon later this month.

The award adds to an especially successful year for Verian, which added some significant names to its growing portfolio of clients, including Piedmont Natural Gas, Brown Brothers Herriman, RBC Caribbean, Chevron Federal Credit Union, People’s Bank, St. Jude Medical, Jacobs Technology, Tokyo Electron and Cummins Power Systems.  Earlier this year, Verian also moved its headquarters to a brand-new, 25,000 square-foot facility just south of Charlotte, North Carolina.

About Verian
Verian is the world leader in universal purchasing and invoice processing systems. Regardless of the number of users, implementation complexity or deployment preference, Verian’s broad and flexible offering provides affordable, easy-to-use solutions that fit companies now – and in the future. Founded in 1997 with headquarters in Charlotte, N.C., Verian helps companies in a wide array of industries – including oil & gas, retail, healthcare, financial services and government/nonprofit – control spending and enhance visibility by providing clients with a single software platform to automate their entire purchase-to-pay process.

Media Contact
Adam C. Slick
Marketing Communications Manager
Verian
704.971.6992
aslick@verian.com

“We needed an easier way for our employees to make requisitions, execute approval workflow, and run spending reports” said the company’s VP of IT. “The Verian system will serve as a front-end requisitioning and approval workflow tool that integrates directly into SAP.” The Verian system can also pull spend data from SAP to create a number of spending reports.

The flexibility and modular nature of Verian’s purchasing and invoice processing platform allows customers to choose only the modules or functionality they need from Verian’s full suite of purchasing and invoice processing solutions. In fact, references within a recent e-procurement report from Gartner cite “the modular design of the solution and the willingness to add features on customer request” as one of Verian’s strengths.

A technology leader, Verian’s newest client manufactures building wire and cable, metal-clad (MC) cable, cord products, utility cable products, industrial power cable, copper and aluminum rod and continuous casting technology.

“We are excited to welcome another new client to the Verian family of customers,” said Tehseen Ali Dahya, president and CEO of Verian Technologies. “We look forward to helping them become more successful in what they do.”

About Verian
Verian is the world leader in universal purchasing and invoice processing systems. Regardless of the number of users, implementation complexity or deployment preference, Verian’s broad and flexible offering provides affordable, easy-to-use solutions that fit companies now – and in the future. Founded in 1997 with headquarters in Charlotte, N.C., Verian helps companies in a wide array of industries – including oil & gas, retail, healthcare, financial services and government/nonprofit – control spending and enhance visibility by providing clients with a single software platform to automate their entire purchase-to-pay process.

Media Contact
Adam C. Slick
Marketing Communications Manager
Verian
704-971-6992
aslick@verian.com

Using intelligent data importing, Verian streamlined the way customers import existing data into its systems, typically one of the most time-consuming and error-prone elements of software deployment.  The advanced data importing capabilities make it simple and easy for users to transfer data into the Verian system – even if the data is incomplete or contains errors. The new release also enables users without any technical knowledge to easily make data transfers.

“Gartner recently affirmed our purchase-to-pay suite’s time-to-value,” said Ganesh Sundaresan, Senior Product Manager at Verian. “The enhancements within our 10.6 release take that core strength to another level, giving our new customers one of the fastest implementation options available.”

The company plans an aggressive product release schedule for 2012, including major enhancements to its supplier network, user interface, and invoice processing and materials management modules.

“Cloud deployment has become the preferred choice for organizations looking for quick returns on automation projects,” said Tehseen Ali Dahya, President and CEO of Verian. “The enhancements from the 10.6 release will significantly decrease time-to-value for our customers, essentially allowing our application to pay for itself in the first year.”

About Verian
Verian is the world leader in universal purchasing and invoice processing systems. Regardless of the number of users, implementation complexity or deployment preference, Verian’s broad and flexible software suite provides affordable, easy-to-use solutions that fit companies now – and in the future. Founded in 1997 with headquarters in Charlotte, N.C., Verian helps companies in a wide array of industries – including oil & gas, retail, healthcare, financial services and government/nonprofit – control spending and enhance visibility by automating the entire purchase-to-pay process on a single software platform.

Media Contact
Adam C. Slick
Marketing Communications Manager
Verian
aslick@verian.com
704.971.6992

The Gartner report provides procurement leaders with profiles and ratings of 32 leading e-procurement, purchase-to-pay and buy-side e-catalog solutions against 11 elements. In four of the categories, time to value, e-requisition support, e-catalog and implementation services, Verian was ranked in the top five by Gartner.

“To have the world’s leading information technology research and advisory company affirm the value of our solution is very gratifying,” said Tehseen Ali Dahya, President and CEO of Verian. “The four top-five categories are a reflection of where customers are finding the most value in our solutions: easier procurement of goods and services, the ability to add features and functionality to match evolving needs; quick and easy implementation; and above all, getting faster return on their investment.”

The report adds to an especially successful year for Verian, which added some significant names to its growing portfolio of clients, including Brown Brothers Harriman, Jacob’s Technology, People’s United Bank, Piedmont Natural Gas, RBC Caribbean, Cummins Power Systems, Chevron Federal Credit Union, St. Jude Medical, Tokyo Electron and Southwire.

2011 also saw Verian release versions 10.5 and 10.6 of its purchasing and invoice processing software. The company plans an aggressive product release schedule for 2012, including major enhancements to its supplier network, user interface, and invoice processing and materials management modules. 

The Gartner Report described herein, (the “E-Procurement Market and Vendor Landscape” report) represents data, research opinion or viewpoints published, as part of a syndicated subscription service, by Gartner, Inc. (“Gartner”), and are not representations of fact. Each Gartner Report speaks as of its original publication date (and not as of the date of this press release) and the opinions expressed in the Gartner Report(s) are subject to change without notice. 

 About Verian

Verian is the world leader in universal purchasing and invoice processing systems. Regardless of the number of users, implementation complexity or deployment preference, Verian’s broad and flexible offering provides affordable, easy-to-use solutions that fit companies now – and in the future. Founded in 1997 with headquarters in Charlotte, N.C., Verian helps companies in a wide array of industries – including oil & gas, retail, healthcare, financial services and government/nonprofit – control spending and enhance visibility by automating the entire purchase-to-pay process on a single software platform.

“Although our systems can be deployed in several different ways, we’ve seen a tremendous demand for our cloud-based offering” said Eric Wilson, Vice President of Services at Verian. “Our customers choose the cloud-based offering because it offers rapid deployment, low subscription costs, upgrades at no additional cost and high ROI. Cloud-based clients commonly save about $11.32 in labor costs per transaction. ”

The major milestone adds to an especially successful year for Verian, which added some significant names to its growing portfolio of clients, including Brown Brothers Herriman, Jacob’s Technology, People’s Bank, Piedmont Natural Gas, RBC Caribbean and Cummins Power Systems. Earlier this year, Verian also moved its headquarters to a brand-new, 25,000 square-foot facility just south of Charlotte, North Carolina.

“Because of complex processes, legacy software systems, and shrinking budgets, organizations are looking for more flexibility when it comes to purchasing and invoice processing systems,” said Tehseen Ali Dahya, President and CEO of Verian. “We’ve answered the demand with a universal purchase-to-pay system that offers unparalleled choice when it comes to functionality, setup options and deployment methods.  Every Verian customer gets one solution – fit perfectly to them.”

The company plans an aggressive product release schedule for 2012, including major enhancements to its supplier network, user interface, and invoice processing and materials management modules.

About Verian
Verian is the world leader in universal purchasing and invoice processing systems.  The breadth and depth of Verian’s offering allows companies to choose from five software modules, three set-up options and three deployment alternatives to create one solution – fit to them.  Regardless of the number of users, implementation complexity or deployment preference, Verian provides an affordable, easy to use solution that fits now – and in the future.

Founded in 1997 with headquarters in Charlotte, N.C., Verian serves a wide array of industries including oil and gas, retail, healthcare, financial services and government/nonprofit. Clients include Stone Energy, REI, GNC, Macy’s, First Horizon National and Members First Credit Union. Verian was recently named one of the top 100 technology providers by Supply & Demand Chain Executive magazine for the eighth time.

Media Contact
Adam Slick
aslick@verian.com
704.971-6992

“Most purchase-to-pay systems are developed to support manufacturing businesses, not financial institutions such as ours,” said Suzanne N. Wallin, Manager of Procurement and Accounts Payable for Axcess Financial. “After searching the industry for a system that was flexible enough to meet our needs, we selected Verian Technologies.”

“We are excited to welcome Axcess Financial to the Verian family of customers,” said Tehseen Ali Dahya, president and CEO of Verian Technologies. “We look forward to helping Axcess Financial become more successful in what they do.”

About Verian Technologies
Verian Technologies helps mid- and large-sized organizations reduce costs and increase efficiency with flexible, easy-to-use solutions that automate the entire purchase-to-pay process including procurement, invoice processing, employee reimbursements and asset management — capturing all spend intelligence in a single database for analysis. Verian was founded in 1997 and is headquartered in Charlotte, N.C. The company’s clients include First Horizon National, Members First Credit Union, Macy’s, Recreational Equipment Inc. (REI), Allstate Insurance, PETCO and General Nutrition Centers (GNC).

About Axcess Financial Services, Inc.
Headquartered in Cincinnati, Ohio, Axcess Financial provides a wide range of convenient, approachable financial products that improve the consumers’ financial situation by meeting their lifestyle and budgetary needs through Check ‘n Go retail outlets and online at www.checkngo.com. For more information, visit www.axcess-financial.com.