DENVER and HOUSTON, Jan. 31, 2011 /PRNewswire/ -- Transzap, Inc., the parent company of Oildex™, the energy industry's leading provider of eRevenue, ePayables and eBudgeting, software-as-a-service (SaaS) solutions, today announced the company has achieved SAS 70 Type II certification for the sixth consecutive year, for its design and execution of operational controls. Successfully completing the SAS 70 Type II audit is critical for a leading SaaS provider like Transzap as it provides customers and their auditors with the assurance that necessary controls and procedures are in place to effectively manage and safeguard their data.
The SAS 70 Type II audit examined the integrity and security of Transzap's systems, including an exhaustive assessment of the company's controls in the area of operations. It also evaluated procedures critical to the processing of vast quantities of information, including the exchange of over $100 billion in transaction detail.
"Transzap is honored to receive its sixth consecutive SAS 70 Type II certification," stated Peter Flanagan, president of Transzap. "This accomplishment affirms our commitment to providing customers with the highest industry standards for system-wide data protection and reliability. Transzap will continue to provide important data safety assurances to our customers, particularly those who must comply with Sarbanes-Oxley regulations, so that they know their information is being kept safe and secure," he said.
The SEC's Sarbanes-Oxley Act of 2002 requires publicly held companies to submit proof that their service providers have measures in place to ensure a secure and stable environment for their data. A SAS 70 Type II Service Auditor's Report, conducted under guidelines established by the American Institute of Certified Public Accountants (AICPA), provides this proof.
For additional information about Transzap, please go to www.transzap.com.
About Transzap, Inc.
Transzap, the parent company of Oildex, provides ePayables, eBudgeting, and eRevenue software-as-a-service (SaaS) solutions to the oil and natural gas industry, and serves over 9,000 companies and 200,000 registered users. The Oildex suite of services streamlines operations, enabling companies to shift from paper-based processes to electronic and provides tools for companies to track and understand their transactions in near-real time. Currently available services include: digital and scanned invoice processing (Spendworks™), business intelligence (Trendx™), owner/producer relations data posting (Owner Relations Connect™), check stub reporting (Checkstub Connect™ - CDEX), scanned check stub reporting (CDEX Complete™), joint interest bill processing (JIB Connect™), scanned JIB processing (JIB Complete™), budget creation and approval (AFEworks™), crude oil data exchange (Run Ticket Connect™ - CODE), and production and sales volume reporting. Transzap has offices in Denver and Houston.
SOURCE Transzap, Inc.; Oildex
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