Veramark Technologies

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Veramark Technologies, Inc.
Type Public
Traded as OTCQB: VERA
Industry Software and managed services for Telecom Expense Management
Predecessors MOSCOM Corporation
Founded January 1983
Founders Albert J. Montevecchio
Headquarters Henrietta, New York
Area served United States, Canada
Key people Tony Mazzullo, President and CEO
Products VeraSMART Telecom Expense Management Suite
VeraSMART Call Accounting Software
Services Managed and professional Telecom Expense Management services
Revenue Increase US$13.165 million (2010)[1]
Operating income Increase US$0.561 million (2010)[1]
Net income Increase US$0.611 million (2010)[1]
Total assets Increase US$12.873 million (2010)[1]
Total equity Increase US$0.442 million (2010)[1]
Employees Increase 95 (2010)[1]
Website www.veramark.com

Veramark Technologies, Inc. provides services and software for Telecom Expense Management and call accounting.[2] The company "specializes in controlling telecom expenses by managing a company's voice, data, and wireless services through a combination of auditing, consulting and software".[3]

Headquarters in Henrietta, New York

Veramark, originally known as MOSCOM Corporation, was founded in 1983.[4] Veramark is a publicly traded company under the stock symbol VERA.PK.

In 2001, the company sold all the rights for the VeraBill product line, a mediation, provisioning and billing solution for wireline and wireless mid-size carriers, to Mind CTI Ltd. for US$ $1 million.

The company acquired the enterprise TEM and consulting businesses of Source Loop LLC, a Georgia-based telecom service provider, in June 2010.[5] In September 2010, the company moved into 23,000 feet of new office space at Eagle's Landing Business Park in Henrietta, New York.[6]

In a September 2010 State of the Industry Report published by AOTMP, Veramark was ranked among the top 25 suppliers of TEM and Wireless Mobility Management solutions.[7]

Chief executives
Name Tenure
Albert J. Montevecchio January 1983 – July 1997
David G. Mazzella, Jr. July 1997 – December 2007
Anthony C. Mazzullo January 2008 – present

Products and services[edit]

  • Veramark TEM services include licensed software deployments, hosted Software-as-a-Service (SaaS) agreements, and fully managed services.[2]
  • The VeraSMART Telecom Expense Management software suite includes capabilities for managing contracts and sourcing, ordering and provisioning, invoices and disputes, inventory, usage, and process automation.[8]
  • VeraSMART eCAS Call Accounting Software has been rated compliant with Release 6 of the Avaya Communication Server IP PBX[9]

References[edit]

  1. ^ a b c d e f Veramark Technologies, Incorporated (2010-03-29), FORM 10-K for the Fiscal Year Ended December 31, 2010, Washington, D.C.: U.S. Securities and Exchange Commission, File 000-13898, film 11717850, retrieved 2011-03-30 
  2. ^ a b "Veramark Technologies". New York Times/Business/Companies. Retrieved 2010-10-15. 
  3. ^ Rochester Democrat & Chronicle, "Veramark Stresses Software Innovation", July 5, 2008
  4. ^ MOSCOM Corporation (1995-03-29). "Form 10-K for the fiscal year ended December 31, 1994". Washington, D.C.: Securities and Exchange Commission. Retrieved 2010-12-07. MOSCOM was incorporated in New York in January 1983 and reincorporated in Delaware in 1984. 
  5. ^ Rochester Business Journal, "Veramark Buys Expense Management Firm", June 18, 2010
  6. ^ Rochester Democrat & Chronicle, "Eagle's Landing Office Building Adds Two Major Tenants", September 25, 2010
  7. ^ "AOTMP State of Industry Report Reveals Top 25 TEM/WMM Suppliers for 2010 as Ranked by Customers". PR Newswire. 2010-09-30. Retrieved 2010-10-15. 
  8. ^ "Veramark Technologies In (VERA:OTC BB)". BloombergBusinessweek/Information Technology Sector/Software Industry. Retrieved 2010-10-15. 
  9. ^ "Veramark Solution Now Rated Avaya Compliant". International Business Times Online. 2010-08-10. Retrieved 2010-10-15.