TechWeb

Transzap(TM) Awarded Third SAS 70 Type II Certification

Jan 16, 2008 (06:01 AM EST)
URL: http://www.techweb.com/show-press-release/X667291/transzap-tm-awarded-third-sas-70-type-ii-certification.html

DENVER and HOUSTON, Jan. 16 /PRNewswire/ -. Transzap, Inc., provider of Oildex, the energy industry's leading digital data exchange and e-payable service, announced today that the company has achieved its third SAS 70 Type II certification for its design and execution of operational controls. The SAS 70 Type II assessment provides strict industry-standard assurances that controls are in place to effectively manage and protect Transzap's customer data.

The SAS 70 Type II Report 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 several billion lines of financial transaction detail.

"The successful completion of our third SAS 70 Type II audit distinguishes Transzap as a market leader and affirms our mission to deliver critical business information and workflow services in a safe, reliable environment," said Peter Flanagan, President and CEO of Transzap. "In achieving our third SAS 70 Type II certification, Transzap continues to provide important data safety assurances to our customers, particularly those working to comply with Sarbanes-Oxley regulations. And we will continue to submit to annual examinations to ensure that our customers and their auditors can rely on our services and satisfy their SEC reporting needs."

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.

About Transzap, Inc.

Transzap is the parent company of Oildex, which operates one of the energy industry's largest Internet-based data exchanges, serving over 3,400 companies and 35,000 registered users. The Oildex suite of SaaS services (Software as a Service) 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(TM)), business intelligence (TrendX(TM)), owner/producer relations data posting, check stub reporting (CDEX), scanned check stub reporting (CDEX Complete (TM)), joint interest bill processing (JIB Connect(TM)), crude oil data exchange (CODE), and production and sales volume reporting. Oildex has offices in Denver and Houston.

This news release and additional information are available at http://www.oildex.com http://www.transzap.com and at .

CONTACT: Karey L. Goebel, Vice President of Marketing of Transzap, Inc., kgoebel@oildex.com+1-303-222-6116, mobile, +1-303-919-2089,

Web site: http://www.oildex.com/