Oildex, Transzap Bolster Industry Leadership Position with SSAE 16 Type II Compliance

Financial Data Platform Successfully Completes Eighth Annual Systems Compliance Assessment

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www.oildex.com

www.oildex.com

“SSAE 16 Type II compliance designates that Transzap delivers a reliable and secure operating environment with the proper controls for conducting operations,” explains Transzap’s President and CEO, Richard Slack.

Denver, CO and Houston, TX (PRWEB) February 13, 2013

Transzap, Inc., the parent company of Oildex, the pioneer developer of cloud-based smart information management solutions for the energy industry, announced today that it has, for the eighth year in a row, completed a rigorous, independent audit evaluating the design and effectiveness of its operational controls.

The Statement on Standards for Attestation Engagements (SSAE) No. 16 Type II is an internationally recognized standard developed by the American Institute of Certified Public Accountants (AICPA). The assessment evaluates and reports on Transzap’s controls in supporting the services it provides to its customers.

SSAE 16 Type II is one of the most stringent auditing standards for service companies and is the recognized mark of IT service quality. Publicly traded enterprises, financial firms and many other organizations often require SSAE 16 compliance of their service providers. The SSAE 16 report includes a written description and operational stability assertion from Transzap’s management and a service auditor's opinion letter. The report is intended for use by Transzap’s customers and their auditors.

“SSAE 16 Type II compliance designates that Transzap delivers a reliable and secure operating environment with the proper controls for conducting operations,” explains Transzap’s President and CEO, Richard Slack. “Customers should care about successful SSAE compliance as it assures operational integrity. With SSAE compliance, customers and their auditors can have complete confidence in the reliability of Transzap’s data services and infrastructure.”

“In addition to the annual SSAE 16 Type II report, Transzap employs stringent IT controls and internal business processes to ensure system stability and security. Transzap will continue to undergo independent and internal audits to ensure data is always kept safe and secure for our many customers.”

About Transzap, Inc.
Transzap, the parent company of Oildex, provides smart information management and business process automation Software-as-a-Service (SaaS) solutions to over 7,900 companies and 130,000 registered users in the oil and natural gas industry. 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. For more information, please visit http://www.transzap.com or http://www.oildex.com.

Transzap & Oildex Contact:
Courtney Brewer, Marketing Specialist
303-222-6139
cbrewer(at)transzap(dot)com


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