updated 2/24/2011 8:45:40 AM ET 2011-02-24T13:45:40

HERNDON, Va., Feb. 24, 2011 (GLOBE NEWSWIRE) -- ePlus inc. (Nasdaq:PLUS) announced today that it has successfully completed a fourth consecutive unqualified SAS 70 Type II examination for its eProcurement and content management solutions, as well as new SAS 70 Type II examinations for its IT procurement portal and asset management solutions. The Type II examinations were performed in accordance with the standards established by the American Institute of Certified Public Accountants (AICPA).

The ePlus SAS 70 report, conducted by one of the nation's leading service audit firms specializing in SAS 70 services, found that for the period of January 1, 2010 to September 30, 2010, both the design and operating effectiveness of certain controls supporting ePlus' Procure+, Content+, OneSource IT, and Manage+ solutions provided "reasonable assurance" that the specified control objectives were achieved.

The SAS 70 Type II report provides an authoritative and independent assessment of a service provider's adherence to process controls in alignment with Sarbanes-Oxley requirements. The examinations were performed in accordance with standards established by the American Institute of Certified Public Accountants and included those procedures considered necessary in the circumstances to obtain a reasonable basis for rendering an opinion. The examinations covered nearly 100 specific controls to obtain evidence about ePlus' effectiveness in meeting the control objectives.

"The unqualified reports such as we have received for both our eProcurement and content solutions are the highest outcome resulting from the examinations," said Ken Farber, president of ePlus Systems and Content Services. "With four consecutive unqualified SAS 70 Type II audit reports, ePlus has shown that not only do we have the rigorous controls in place in order to qualify for the audit report, but also that we have demonstrated our consistency in achieving these control objectives over several years for our hosted solutions."

"We're proud to have also completed the Type II examination for OneSource IT and Manage+ services this year," explained Mark Marron, president of ePlus Technology. "We are pleased to be able to provide this new report to our customers as evidence of the well-documented and highly-disciplined control activities surrounding the development, testing, and deployment of our hosted eProcurement and content management solutions as well as our IT procurement and asset management offerings."

The scope of the ePlus Type II examination included:

  • Procure+, the company's eProcurement solution that provides catalog, bidding, ordering, inventory, and invoice matching management for the entire purchasing process
  • Content+ and the Supplier Portal, which enables suppliers to upload and maintain their online catalogs
  • OneSource IT, an automated IT portal that allows users to easily search for and source IT assets from the extensive ePlus catalog as well as simplify and automate procurement
  • Manage+, a complete asset management solution that provides a hosted Internet asset repository with customized reporting and electronic data interchange capabilities, including integration with legacy enterprise systems

ePlus believes that its customers may use the ePlus Type II report to support their compliance with the Sarbanes-Oxley Act of 2002 for those services outsourced to ePlus. Customers interested in receiving the latest report may register to receive it at ePlus SAS 70 Audit Report.

More information about ePlus solutions covered in the SAS 70 Type II Accreditation report can be found on ePlus' website: Procure+, Content +, OneSource IT, and Manage+.  

For additional information about SAS 70, visit http://www.sas70.com/about.htm .

About ePlus inc.

ePlus is a leading provider of technology solutions. ePlus enables organizations to optimize their IT infrastructure and supply chain processes by delivering world-class IT products from top manufacturers, professional services, flexible lease financing, proprietary software, and patented business methods. Founded in 1990, ePlus has more than 690 associates in 20+ locations serving federal, state, municipal, and commercial customers. The Company is headquartered in Herndon, VA. For more information, visit http://www.eplus.com, call 888-482-1122, or email info@eplus.com

ePlus®, Procure+®, Content+®, OneSource® IT, Manage+®, and ePlus products referenced herein are either registered trademarks or trademarks of ePlus inc. in the United States and/or other countries.

Statements in this press release that are not historical facts may be deemed to be "forward-looking statements." Actual and anticipated future results may vary materially due to certain risks and uncertainties, including, without limitation, possible adverse effects resulting from the recent financial crisis in the credit markets and general slowdown of the U.S. economy such as our current and potential customers delaying or reducing technology purchases, increasing credit risk associated with our customers and vendors, reduction of vendor incentive programs, the possibility of additional goodwill impairment charges, and restrictions on our access to capital necessary to fund our operations; the demand for and acceptance of, our products and services; our ability to adapt our services to meet changes in market developments; the impact of competition in our markets; the possibility of defects in our products or catalog content data; our ability to hire and retain sufficient personnel; our ability to protect our intellectual property; our ability to consummate and integrate acquisitions; our ability to raise capital and obtain non-recourse financing for our transactions; our ability to reserve adequately for credit losses; and other risks or uncertainties detailed in our reports filed with the Securities and Exchange Commission. All information set forth in this press release is current as of the date of this release and ePlus undertakes no duty or obligation to update this information.

CONTACT: Kleyton Parkhurst, SVP
         ePlus inc.

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved


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