Veramark Technologies, Inc., a leading provider of Telecom Expense Management (TEM) solutions, announced that its VeraSMART(R) Communications Management Suite has received the 2008 Communications Solutions Product of the Year Award from Technology Marketing Corporation (TMC).

Providing an environment for full product lifecycle telecommunications expense management, VeraSMART helps organizations gain visibility into their communications networks and reduce expenses associated with their voice, data, and wireless services and infrastructure. The management suite provides a holistic view of all telecom and IT expenses and gives organizations the technology needed to control those costs more effectively.

“Telecom Expense Management is a services market and VeraSMART is one major differentiator for Veramark as compared to other TEM service providers,” stated Denise Chapman, Veramark’s Director of Marketing. “It enables Veramark to provide better, faster, and more cost-effective TEM services. In addition, ease-of-use features and industry-leading support and services offer customers the option to license the software and utilize in-house staff to effectively manage telecom expenses.”

“Better management can shave 10% - 30% of a company’s telecom expenses, which goes straight to the bottom line,” commented Josh Bouk, Vice President of Customer Services. “Veramark is committed to providing TEM solutions that help our customers control and reduce their communications costs. VeraSMART is the enabling technology for our TEM solutions, and we’re pleased that TMC has recognized, for the second consecutive year, the exceptional value that VeraSMART represents.”

Through the MYSMART portal, VeraSMART offers a configurable Web interface that gives users access to the VeraSMART features they need to track, manage, and reduce telecom costs. MySMART raises awareness of telecom spending, improves accountability, and encourages responsible use of telecom resources across the enterprise.

“Veramark has been recognized with a 2008 Product of the Year Award for their excellence in the advancement of voice, data and/or video communications,” said Rich Tehrani, TMC President and Group Editor-in-Chief. “Veramark has proven they are committed to quality and excellence in telecom expense management solutions that benefit the customer experience, as well as produce rapid ROI for the companies that use them. We are pleased to honor their hard work and accomplishments and look forward to more innovative solutions from Veramark in the future.”