Fieldglass Issues SAS 70 Type II Report
A Report Issued by a Big Four Accounting Firm Validates the Company's Long-standing Commitment to Quality and Helps Customers Meet their Sarbanes-Oxley Requirements
Chicago—August 16, 2005—Fieldglass, Inc., a leading provider of services procurement software, announced the issuance of an unqualified Statement of Auditing Standards No. 70 (SAS 70) Type II report. The in-depth audit of control activities, performed by one of the Big Four accounting firms, provides Fieldglass’ customers with the assurance that the company has effective operational processes and controls.
“As a company, we are very serious about the quality of our product and the means by which we ensure that quality,” said Dan Bell, Vice President of Quality Assurance at Fieldglass. “This report reflects our commitment to a consistently high standard, and more importantly, to the sanctity of our customers’ data. For us, quality is about building a formal, repeatable, and well-documented process with checkpoints along the entire development cycle. It’s about continuous improvement and challenging ourselves to further improve with each cycle.”
SAS 70 Type II audits have become increasingly important to service providers since the enactment of Sarbanes-Oxley Act (SOX) Section 404. The audit occurs over an extended period of time during which auditors conduct in-depth reviews and rigorous testing of processes and controls. An unqualified opinion provides Fieldglass’ customers with independent validation of Fieldglass’ controls, ensuring that customers’ corporate and financial data is being handled appropriately, further enhancing their own controls.
“We have worked diligently to embed processes and controls throughout the organization,” said Jim Holtzman, Chief Financial Officer at Fieldglass. “We are pleased to complete this process and proud of the unqualified opinion we have received. When a customer chooses to outsource to a service provider such as Fieldglass, it is essential that our controls effectively support their internal control environment. The SAS 70 Type II report demonstrates our continuing commitment to providing effective solutions for the procurement and management of services.”
About Fieldglass
Headquartered in Chicago, Fieldglass, Inc. (http://www.fieldglass.com) is a leading provider of vendor-neutral services procurement solutions for industry leading Global 2000 companies. InSite®, its Web-based enterprise application, creates a secure, private marketplace between customers and selected suppliers for sourcing, delivering and managing third-party services, including contract labor, consulting and fixed-price projects. Able to interact with legacy systems, ERP systems and e-commerce platforms, InSite allows organizations to extend the benefits of e-procurement beyond products into services, reducing costs while improving cycle times, and ensuring compliance.
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