BillingTree Completes Examination in Conformity with Statement on Standards for Attestation Engagements (SSAE) No. 16, Reporting on Controls at a Service Organization

PHOENIX, Aug. 28, 2013 /PRNewswire/ -- BillingTree®, one of the nation's leading on-demand payment processors, today announced that it has recently completed its examination in conformity with Statement on Standards for Attestation Engagements (SSAE) No. 16, Reporting on Controls at a Service Organization for the period May 1, 2012 through April 20, 2013 that was performed by an independent auditing firm.

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Completion of the SSAE 16 SOC 1 Type II examination indicates that selected BillingTree processes, procedures and controls have been formally evaluated and tested by an independent accounting and auditing firm.  The examination included the company's controls related to: Physical Security, Computer Operations - Availability, Information Security, Application Development Maintenance and Documentation, Data Communication, Client Setup and Maintenance, Transaction Processing and Transaction Reporting. 

SSAE 16 is designated by the U.S. Securities and Exchange Commission (SEC) as an acceptable method for a user entity's management to obtain assurance about service organization internal controls without conducting additional assessments.  In addition, the requirements of Section 404 of the Sarbanes-Oxley Act of 2002 make SSAE 16 reports even more important to the process of reporting on effective internal controls by public companies.

A SSAE 16 examination is widely recognized, because it represents that a service organization has been through an evaluation of their control activities as they relate to an audit of the financial statements of its customers.  A Type II report not only includes the service organization's system description, but also includes detailed testing of the design and operating effectiveness of the service organization's controls.

"The SSAE 16 compliance accreditation affirms BillingTree's commitment to meet the highest regulatory standards, and provides our customers with the assurance that we employ stringent internal business processes and IT controls," commented David Roberts, President and CEO, BillingTree.  "In an environment where regulatory compliance is a key concern to every organization collecting and processing payments, BillingTree is committed to ensuring that all of its business processes meet the strictest government requirements.  We are delighted that our services are both SSAE 16 and PCI compliant and have recently been accredited with an 'A+' rating by the internationally respected independent Better Business Bureau (BBB)."

"Businesses continue to choose BillingTree because we embrace the changing compliance landscape.  Our ability to successfully complete another SSAE 16 Type 2 audit shows our dedication to a compliant and secure operation.  This has now been documented, reviewed, and audited by an independent third party, which verifies BillingTree has the necessary controls and process in place to be robust, transparent and consistent," concluded Roberts.

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About SSAE 16
SSAE 16 is designated by the U.S. Securities and Exchange Commission (SEC) as an acceptable method for a user entity's management to obtain assurance about service organization internal controls without conducting additional assessments.  In addition, the requirements of Section 404 of the Sarbanes-Oxley Act of 2002 make SSAE 16 reports even more important to the process of reporting on effective internal controls by public companies.

A SSAE 16 examination is widely recognized, because it represents that a service organization has been through an evaluation of their control activities as they relate to an audit of the financial statements of its customers. A SOC 1 Type II report not only includes the service organization's system description, but also includes detailed testing of the design and operating effectiveness of the service organization's controls.

About BillingTree
The proven leader in on-demand payment processing, BillingTree empowers customers with competitive advantage through a simplification of the billing and receivables process. By delivering the most innovative technology while making it as easy and inexpensive as possible to accept payments, BillingTree has revolutionized the payments landscape.  Our software-as-a-service (SaaS) model delivers industry-leading payment solutions, proven integration, and point-and-click simplicity.  BillingTree's focus on innovation has allowed us to help more than 1,200 customers eliminate manual processes and automate their payment cycles.  BillingTree – Growth is our Business.  For more information, visit www.mybillingtree.com or call 877.4.BILLTREE.

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SOURCE BillingTree