HERNDON, Va., Dec. 16, 2014 (GLOBE NEWSWIRE) -- ePlus inc. (Nasdaq:PLUS) today announced that it has successfully completed the Type 2 SSAE 16 (Statement on Standards for Attestation Engagements) examination for its OneSource family of software products that provide information technology acquisition, asset management, procurement, and catalog management software services. The Type 2 SSAE 16 examination, formally known as a Report on Controls at a Service Organization (SOC 1), represents that the engagement was performed in accordance with the standards established by the American Institute of Certified Public Accountants (AICPA).
The SSAE 16 examination provides customers and auditors with an understanding that the description of services and solutions provided by ePlus are fairly presented. The Type 2 component of SSAE 16 provides an objective evaluation that ePlus' controls were operating effectively during the specified period of the examination.
"This SSAE report provides an added layer of assurance for our customers and attests to the operational effectiveness of our asset management, IT procurement, and hosted eProcurement and supplier portal solutions," said Ken Farber, president of ePlus Systems. "ePlus is committed to testing our control and business continuity procedures throughout the year—which is an integral and on-going component of our delivery methodology."
The ePlus SSAE 16 report, conducted by one of the nation's leading service audit firms specializing in SSAE 16 services, found that for the period of January 1, 2014 to September 30, 2014, the description of ePlus products and services as well as operating effectiveness of controls supporting ePlus' Hosted eProcurement and Supplier Portal, OneSource Asset Management (OSAM), and OneSource IT solutions provided "reasonable assurance" that the specified control objectives were achieved. The report includes the service auditor's opinion that:
- The description fairly presents the OneSource family of software products that was designed and implemented throughout the period of January 1, 2014 to September 30, 2014.
- The controls related to the control objectives stated in the description were suitably designed to provide reasonable assurance that the control objectives would be achieved if the controls operated effectively throughout the period of January 1, 2014 to September 30, 2014, and user entities applied the complementary user entity controls contemplated in the design of ePlus' controls throughout the period of January 1, 2014 to September 30, 2014.
- The controls tested, which together with the complementary user entity controls referred to in the scope paragraph of the report, if operating effectively, were those necessary to provide reasonable assurance that the control objectives stated in the description were achieved, operated effectively throughout the period of January 1, 2014 to September 30, 2014.
For additional information about SSAE 16, visit https://www.brightline.com/soc1.
About ePlus Systems, inc.
ePlus Systems, inc., a wholly owned subsidiary of ePlus inc., delivers eProcurement and related solutions and services to help public sector clients and commercial organizations across all industries get the most value from their spend. Its diversified portfolio of solutions includes eProcurement, supplier enablement, catalog content management, spend analytics, document management, and asset management. These solutions help drive cost savings, improve compliance, and enhance productivity throughout the organization. ePlus solutions are offered as hosted Software as a Service (SaaS) and traditional enterprise licenses. For additional information about ePlus Systems, visit www.eplus.com/software.
About ePlus inc.
ePlus is a leading integrator of technology solutions. ePlus enables organizations to optimize their IT infrastructure and supply chain processes by delivering complex information technology solutions, which may include managed and professional services and products from top manufacturers, flexible financing, and proprietary software. Founded in 1990, ePlus has more than 950 associates serving commercial, state, municipal, and education customers nationally. The Company is headquartered in Herndon, VA. For more information, visit www.eplus.com, call 888-482-1122, or email info@eplus.com. Connect with ePlus on Facebook at www.facebook.com/ePlusinc and on Twitter at www.twitter.com/ePlus.
ePlus® and ePlus products referenced herein are either registered trademarks or trademarks of ePlus inc. in the United States and/or other countries. The names of other companies and products mentioned herein may be the trademarks of their respective owners.
Statements in this press release that are not historical facts may be deemed to be "forward-looking statements." Actual and anticipated future results may vary materially due to certain risks and uncertainties, including, without limitation, possible adverse effects resulting from financial market disruption and general slowdown of the U.S. economy such as our current and potential customers delaying or reducing technology purchases, increasing credit risk associated with our customers and vendors, reduction of vendor incentive programs, and restrictions on our access to capital necessary to fund our operations; our ability to consummate and integrate acquisitions; the possibility of goodwill impairment charges in the future; significant adverse changes in, reductions in, or losses of relationships with major customers or vendors; the demand for and acceptance of, our products and services; our ability to adapt our services to meet changes in market developments; our ability to implement comprehensive plans for the integration of sales forces, cost containment, asset rationalization, systems integration and other key strategies; our ability to reserve adequately for credit losses; our ability to secure our electronic and other confidential information; future growth rates in our core businesses; our ability to protect our intellectual property; the impact of competition in our markets; the possibility of defects in our products or catalog content data; our ability to adapt to changes in the IT industry and/or rapid change in product standards; our ability to realize our investment in leased equipment; our ability to hire and retain sufficient qualified personnel; and other risks or uncertainties detailed in our reports filed with the Securities and Exchange Commission. All information set forth in this press release is current as of the date of this release and ePlus undertakes no duty or obligation to update this information.