PHOENIX, Aug. 19, 2015 /PRNewswire/ -- BillingTree® 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, 2014 – April 20, 2015 that was performed by an independent auditing firm.
Completion of the SSAE 16 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. This is the latest compliance accreditation for BillingTree. Earlier this year it successfully passed the PCI-DSS audit under the new PCI 3.0 standards. The company also holds an 'A+' rating by the highly respected Better Business Bureau (BBB) and has completed the latest HIPAA Security Assessment in line with the HIPAA security rule.
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.
"Our successful SSAE 16 examination demonstrates BillingTree's commitment to ensuring our service operations are well controlled and in-line with industry best practices across accounting, audit and information security," said Melissa Kirk, Vice President of Technology at BillingTree. "Yet again our well governed environment has been audited by an independent third party and found to be robust, transparent and consistent."
"BillingTree's 2015 ARM Industry Technology and Operations survey found that 84% of respondents said they rely on their payment processing partners to provide service support to their management and operations. This is why BillingTree places the highest priority on tightly controlled operations across our organization."
BillingTree® is the leading, technology focused payment solutions company providing innovative Accounts Receivables products and services that enable organizations to increase efficiency and decrease costs of processing payments while adhering to compliance regulations. For over a decade, BillingTree has committed itself to understanding the marketplace and growing payments with technology, helping merchants accept multiple payment channels while offering comprehensive value their clients have come to rely on. BillingTree has a reputation for dependable solutions and extraordinary customer service, processing billions of dollars of payments annually through a suite of solutions and services that integrate with your company's needs. Visit MyBillingTree.com or call 877.4.BILLTREE for payment technology that works.