Verizon Business Receives Award for E-Billing Vendor Excellence

BASKING RIDGE, N.J. - Verizon Business, a premier provider of global communications and information technology (IT) solutions, today announced that Invoice Insight ranks it tops among major telecom vendors for electronic billing excellence.

Invoice Insight, a leading provider of expense management software for large enterprises and federal agencies, recently reported the results of its annual evaluation of vendors that support telecom electronic data interchange (EDI) invoicing. EDI allows for the automated exchange of data between trading partners.

Invoice Insight evaluated seven major telecom vendors in four key categories of EDI: implementation, maintenance and support, data transport/communication and quality. Verizon Business achieved the highest overall average score, earning it Invoice Insight's EDI Vendor Excellence Award.

"We are continually striving to improve our overall billing relationship with customers," said Mark Chodoronek, executive director of customer enablement, Verizon Business. "As more customers move to an online billing environment, we are committed to delivering easy-to-use bills that provide the information our customers require to monitor their service delivery and do their own internal reporting. This award is further proof that our efforts are paying off."

Invoice Insight's approach to EDI processing is designed to meet client demands that EDI billing data be loaded promptly, validated for accuracy, balanced across billing points, and provided at the level of detail required for analysis and reporting.

"Verizon Business obviously realizes the critical strategic importance of EDI to both itself and its clients, as evidenced by its final ratings," said Dave Spofford, CEO of Invoice Insight. "Verizon Business' attention to accuracy and detail supports our approach and eliminates the need to manually intervene and reconcile invoices because they are unbalanced or have unknown codes or account numbers. We greatly appreciate Verizon Business' effort, professionalism and technical proficiency, and I'm sure its customers do, too."

The EDI Enablement Program offered by Verizon Business is a full array of services that are meant to help customers in their efforts to reach their EDI program objectives. This includes offering EDI implementation services, consulting and educational services and value-added software solutions.

"Companies in invoice-intensive verticals are now differentiating themselves based on service levels of the entire relationship, including billing and payments," said Jeff Pikulik, vice president of Aberdeen Group Inc., a Boston-based technology research firm. "A strong EDI solution reduces time and costs for both the buyer and seller by providing deeper information in a more real-time, service-based environment."

About Invoice Insight

Headquartered in Manassas, VA, Invoice Insight is the leading provider of Telecom Expense Management "software-as-a-service." Clients include Harley-Davidson, the Department of Defense, and KB Toys. It provides both technology and outsourcing solutions to large commercial and government end-users of telecom services. Invoice Insight is the developer of BillPort(r), proprietary software delivered in the "software-as-a-service" model. The software creates an environment of unparalleled visibility & control while allowing the client flexibility in choosing the right solution to meet its needs. Invoice Insight's model allows for rapid implementation, low cost of ownership, and a win-win model more akin to a service relationship than traditional software licensing deployments - hence the term "software-as-a-service." For more information, visit www.invoiceinsight.com.

About Verizon Business

Verizon Business, a unit of Verizon Communications (NYSE: VZ), is a leading provider of advanced communications and information technology (IT) solutions to large business and government customers worldwide. Combining unsurpassed global network reach with advanced technology and professional service capabilities, Verizon Business delivers innovative and seamless business solutions to customers around the world. For more information, visit www.verizonbusiness.com.