Rating is the Gold Standard for Operating Procedures and Effectiveness
Framingham, MA - Ameresco, Inc. (NYSE:AMRC), a leading provider of comprehensive energy management and data technology services, announced today that the company’s AMERESCO AXIS Invoice Management business has received SAS 70 Type II Certification after an independent audit of internal practices determined the effectiveness and efficiency of company operations, reliability of financial reporting, and compliance with laws and regulations.
SAS 70 Type II Certification is awarded to service organizations that have been through a rigorous audit process, and it is used primarily as an authoritative guide. This certification is an important attribute in order for users of the AMERESCO AXIS service to help demonstrate the effectiveness of their internal processes.
“We are proud our organization has achieved this exacting certification,” stated Mark Feichtner, vice president, Ameresco. “The certification confirms what our customers already know; Ameresco delivers a suite of services that are the highest quality available in support of their business. For instance, the SAS 70 Type II audit confirmed that AMERESCO AXIS’ automated data capture rate was 99%; significantly more effective than the manual data entry services some other data invoice businesses utilize and that introduce errors.”
There are two levels of SAS certification and Type II represents the highest, most stringent level. Type I certification requires a review of practices and policies within an organization, while Type II requires actual testing and verification that certain practices, policies and procedures are being followed. AMERESCO AXIS is now certified in Type II. It is also certified in SAS Type I, and has been since October 31, 2009.
The AMERESCO AXIS invoice management system provides consumers with robust, invoice management capabilities; data and energy supply management support; account assurance; deposit management and tracking; carbon management; environmental reporting; project emissions reporting; and Energy Star reporting.
The independent audit of AMERESCO AXIS invoice management systems was conducted from January 1, 2010 through June 30, 2010 by Frost, Cummings and Tidwell Group using standards established by the American Institute of Certified Public Accountants (AICPA).
The stringent audit-tested company practices and procedures developed by Ameresco are aimed at providing customers with assurance that:
- New clients are set-up with the AXIS system completely and accurately;
- Client reports are accurate and on-time;
- Organizational goals are discussed routinely and corporate policies and procedures are documented and distributed to employees;
- New employees are qualified individuals and employees are assigned to duties compatible with their skill sets;
- Changes to existing software and implementation of new software are authorized tested, approved and documented;
- Changes to corporate wide infrastructure are authorized, approved and documented;
- Only authorized personnel will have access to systems, database files, production data;
- Data transfer between Ameresco clients is secure;
- Systems are configured to detect and prevent unauthorized access attempts and attacks;
- Physical access to computer equipment, resources, and business premises is limited to authorized personnel;
- Computer equipment, resources and business premises are protected from environmental risks and threats;
- Data files are backed up in a timely manner; and
- Information systems are available for operation and use as committed and the likelihood and impact of unavailability is minimized.
AMERESCO AXIS customers use the platform for a variety of repeatable invoices—from electricity, gas and water to other service invoices such as waste management, fuel and uniforms. AXIS can empower any type of customer by managing data to better understand utility consumption and expenses, by identifying the need for facility improvements, and by monitoring and reporting on energy efficiency projects. Whether a large National Retail Chain managing thousands of locations, a national quick-serve restaurant chain, a dispersed school district, a city or large federal facility with thousands of invoices, AXIS can organize, manage, and deliver the information in a way that allows data to work for the customer.
AMERESCO AXIS® is a registered trademark of Ameresco, Inc., and its processes are patent-pending.
About Ameresco, Inc.
Ameresco, Inc. was incorporated in Delaware in April 2000 and is a leading independent provider of comprehensive energy efficiency solutions for facilities throughout North America. Ameresco’s solutions include upgrades to a facility’s energy infrastructure, and the development, construction, and operation of renewable energy plants. With corporate headquarters located in Framingham, MA, Ameresco has 55 offices in 29 states and four Canadian provinces. In July 2010, Ameresco completed its initial public offering. For more information, visit www.ameresco.com.
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Release Date: 9/21/2010