SOX News

Digital Fairway's Provergent Enables Enterprises to Accurately Allocate Corporate Telecom Costs

(Sept 04, 2007)-- Digital Fairway, developer of software solutions that help enterprises centralize and automate management of their telecommunications infrastructure, announces ProvergentTM Communication Services Management Suite Version 3.2, adding enhanced workflow and reporting capabilities as well as the ability to accurately allocate the costs associated with communication services to an organization's general ledger.

For most enterprises, gaining control over the internal accounting of communications expenditures and maintaining transparency into these costs represents a major challenge, not least because the majority of these enterprises still manage such tasks manually.

"Keeping track of cost center assignments and cost allocations for communication services in a spreadsheet are time consuming and error prone tasks," says Digital Fairway CEO Joe Warnement. "With Provergent V3.2, enterprises can now associate a communications service and its cost to a general ledger code within the application, allowing the service costs to be accurately allocated to the cost center consuming that service. This can be done at the point the service order is entered into the system, or as a workflow task in the order approval or completion process."

This ability to associate a unique service or circuit identifier to both the cost and a general ledger code greatly facilitates telecom billing reconciliation activities, speeding up the accounts payable process. It also enables enterprises to gain a more accurate view into the telecoms services being consumed by different parts of the organization.

Accurate telecom cost reporting and projections have traditionally been a weak link in achieving Sarbanes Oxley compliance for many organizations. This new functionality in Provergent V3.2 goes a long way to alleviating this critical issue.

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