Veramark Technologies, Inc. (fka VERA)

[10 bagger]

VERA.. $0.60 DD 06/01/2010

Veramark Selected as Finalist in 2010 Stevie Awards(R)

Market Wire - Jun 01 at 11:00

Company Symbols: NASDAQ-OTCBB:VERA

Telecom Expense Management Provider Is Recognized as One of the "Most Innovative" Small Companies of the Year


PITTSFORD, NY -- (MARKET WIRE) -- 06/01/10 -- Veramark Technologies, Inc. (OTCBB: VERA), a leading provider of Telecom Expense Management (TEM) solutions, has been named a Finalist in the "Most Innovative Company of the Year - up to 100 Employees" category in The 2010 American Business Awards.

The American Business Awards is part of the Stevie Awards, one of the nation's premier business awards programs. This year, more than 2,700 entries from virtually every industry were submitted for consideration in 40 award categories. Finalists were chosen by business professionals nationwide during preliminary judging in April and May.

Finalists for the most innovative small company of the year award earned a "7" or higher on a scale of 1 to 10, based on a rigorous scorecard system applied by a minimum of five expert judges. Veramark is one of only six companies that made the cut.

Veramark's score reflects its innovative approach to TEM-enabling technology, corporate culture and teambuilding, partnerships, marketing, product development, and relentless focus on customer satisfaction. Veramark's commitment to innovation is reflected by its investment in new and better solutions for telecom expense management.

"Veramark consistently invests more than 20 percent of revenue on research and product development. This investment has paid off by establishing Veramark on the cutting edge of telecom expense management technology and services. It's key to exceeding our customers' expectations," said Tony Mazzullo, Veramark's President and CEO. "It is nice to be recognized by the Stevie Awards for the results of this hard work."

"To keep up with the business impact of rapidly changing telecom technology and the challenges of expense management in today's economy, innovation is absolutely essential. Not only in our products and services, but in the way we collaborate with our customers and anticipate their future needs," added Tom McAlees, Senior Vice President of Engineering and Operations. "Here at Veramark, innovation is part of everything we do."

The Stevie Award winners will be announced on Monday, June 21 at the Marriott Marquis Hotel in New York City. More than six-hundred executives from across the U.S.A. are expected to attend. The event will benefit Oceana (oceana.org), the largest international organization focused on ocean conservation. The ceremonies will be broadcast on radio nationwide by the Business TalkRadio Network.

Details about The American Business Awards and the list of Finalists in all categories are available at http://www.stevieawards.com/aba/.

About Veramark Technologies, Inc.
Veramark is a leading provider of innovative enterprise solutions for telecom and IT expense and performance management. Veramark solutions provide visibility into operational expenses and generate actionable business intelligence to help organizations reduce spend and optimize business processes. Veramark solutions, which include software and services for Telecom Expense Management (TEM), call accounting, and Business Process Outsourcing (BPO), enable best practices for managing complex unified communications networks on a global scale. For more information, visit www.veramark.com.

About The Stevie Awards
Stevie Awards are conferred in four programs: The American Business Awards, The International Business Awards, the Stevie Awards for Women in Business, and the Stevie Awards for Sales & Customer Service. Honoring organizations of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about The Stevie Awards at www.stevieawards.com.

Sponsors and partners of The 2010 American Business Awards include Infogroup, Netezza, CIGNA, Citrix Online, Epic Advertising, High Performance Technologies Inc., imagistic, John Hancock, LifeLock, Lionbridge, PetRays, RCN, and SoftPro.

Veramark, VeraSMART, and eCAS are registered trademarks of Veramark Technologies, Inc. MySMART and VeraSMART Performance Advisor are trademarks of Veramark Technologies, Inc. All other trademarks are the property of their respective owners. This press release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. A variety of factors could cause actual results to differ from the anticipated results expressed in such forward-looking statements. These may include but are not necessarily limited to changes in general economic conditions in the United States and overseas, technological changes in the telecommunications or computer industries, the timely and successful launch of planned new products, the timely installation and acceptance by end-user customers, and the impact of competition or changes in the marketing strategies of major distributors.

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Veramark Contact:
Denise Chapman
Director of Marketing
585.383.6883
Email Contact