Boomi Expands SaaS Integration Ecosystem by Adding AverQ's Innovative Audit Management Solution to its Network
Berwyn, Pa - (10/15/2008) - Boomi, the market and technology leader for on-demand integration, today announced an OEM agreement with AverQ Inc., the creator of the industry's first collaborative financial audit management solution for corporations and audit firms. Through this partnership, AverQ will embed Boomi On-Demand within its Integrated Financial Audit ManagementTM solution for the secure transmission of all audit related data to and from the customers' financial transactional systems - improving accuracies, eliminating redundancies, and reducing costs for both the corporations and their audit firms.
The partnership expands Boomi's penetration within the financial applications industry while providing AverQ another compelling differentiator in the market for seamlessly integrating across a wide array of SaaS and on-premises applications; such as Microsoft Dynamics, QuickBooks, Sage, Oracle and SAP without the burden of installing and maintaining expensive integration software packages or appliances.
"Today's announcement is indicative of our commitment to team up with innovative companies like AverQ for the benefit of our SaaS integration ecosystem while expanding our reach into vital markets," said Bob Moul, CEO and president of Boomi. "Boomi's fully cloud based platform assures seamless integration into third-party applications on our network, enabling AverQ customers to leverage the power of AverQ's Financial Audit Management solution to its fullest capabilities."
AverQ's Integrated Financial Audit Management solution brings together, for the first time, corporations and the audit firms in an on-demand setting. Together with Boomi, AverQ offers corporations and audit firms significant productivity improvements by reducing the time and effort spent in collecting, organizing and delivering data required for various internal and exernal audits. Specifically, clients can now control the releasing and sharing of financial information in real time directly from their source financial systems. The end result gives auditors more confidence while increasing productivity with minimal reentries and imports.
Boomi On-Demand enables corporations and their audit firms to easily connect their financial applications to the Integrated Financial Audit ManagementTM solution using its patented Visual Integration TechnologyTM. Boomi On-Demand can handle any combination of SaaS and on-premises integration through the use of a lightweight, dynamic run-time engine, or Boomi "Atom." Boomi Atoms contain all the components required to execute an integration process from end-to-end and can be used for SaaS-to-SaaS integration or downloaded behind the firewall for on-premise integration.
"Increasing oversight and regulations today mandate relevant and timely audit reports. The quality of these reports hinges on getting accurate and timely data such as trial balances and other financial transactions to the auditors.". said Renuka Shankar, CEO of AverQ. "With AverQ and Boomi both providing true on-demand solutions, our customers will now enjoy reliable, secure and seamless data integrations without the need for expensive and complex deployments. "
AverQ delivers a comprehensive, on demand Integrated Financial Audit Management(TM) solution for corporations and audit firms. This secure, subscriber-based online service streamlines the entire audit process for all parties in preparation and execution of the entire financial statement audit. Corporations can measure up to increased regulations with a comprehensive system of record, have relevant disclosure visibility, reduce time needed to support the audit effort, and lower audit costs through collaboration and a leveraged audit effort. Audit firms can streamline collaboration with their clients, streamline their internal quality control process, and, with a rapid rollout, achieve an immediate and compelling return on investment. For more information about AverQ, visit www.averq.com.
Boomi is the market and technology leader in on-demand integration. Boomi's patent-pending technology enables any combination of SaaS and on-premise integration to be accomplished directly from the Web, eliminating the burden of installing and maintaining software packages or appliances. Highly embeddable, scalable and distributable, Boomi's architecture is being used to power the SaaS ecosystem including application and data integration, platform-as-a-service and cloud computing, and hosted business intelligence, mashups and analytics. Boomi's unique "pay-per-connection" model allows organizations to pay for only the connections they deploy at a fraction of the cost of conventional integration products. For more information about Boomi, visit www.boomi.com.