New Service Helps Imaging Systems Businesses Achieve Sarbanes-Oxley Meter Accuracy11 May, 2005
New Service Helps Imaging Systems Businesses Achieve Sarbanes-Oxley Meter Accuracy
Imaging Portals, Inc., a solutions company that develops and deploys remote monitoring systems for document imaging devices, announced a service that will help its imaging systems customers achieve accurate revenue reporting as required by The Sarbanes-Oxley Act.
Accurate meter data is crucial to imaging customers in three markets: 1) the “Print-For-Pay” market that sells copier and printer output directly; 2) the “Cost-Per-Copy/Print” market that provides copiers and printers based on number of pages output; and 3) the large-scale “Copier/Printer Maintenance” market that bases maintenance costs and consumables on output.
“These customers base their cost of goods sold and their revenue recognition triggers on the accuracy of this vital meter data,” said Worth Probst, CEO of Imaging Portals. “We provide third-party validation of this critical information by verifying the accuracy of the meter readings reported by the devices themselves.”
The new service, IPI-SOMA, uses the company’s ImageTrak system to manage automatic meter data readings from copiers and printers—and then two aggregates the data in a central data repository. The IPI system is Fleet Complete: It monitors all network-connected equipment via a high-security Internet link and standalone devices, via either a two-way paging system or telephony monitoring. This meter use data can be automatically transferred to a supplier’s CRM or billing system.
IPI’s ImageTrak system is a milestone in the industry, replacing estimated billing with exact meter readings. With IPI-SOMA, at the end of a customer’s accounting year, a CD-ROM copy of the original source data, complete and unaltered as directly reported from the printers and copiers, is provided to the customer as a backup to validate the information they used to prepare their financial statements.
“The Sarbanes-Oxley Act has created a critical need for accurate meter readings in the imaging systems industry,” said Probst. “Our enhanced new service helps our customers meet that need. We’re using innovative technology to provide third-party back-up validation of critical copier and printer usage data directly from the devices.”
For more information, visit www.imagingportals.com.