InterplX Successfully Completes SSAE 16 (SOC 1 Type II) Engagement with Zero Exceptions
Eighth consecutive unqualified opinion affirms commitment to the integrity of its processes and security of client data
MINNEAPOLIS (Jan. 3, 2012) — InterplX, the number two independent provider of expense management and purchase card transaction processing software, has successfully completed its latest Statement on Standards and Attestation Engagements No. 16 (SSAE 16) engagement with zero exceptions. The successful completion of the exhaustive and in-depth SSAE 16 Type II report demonstrates InterplX’s commitment to its clients and the security of their financial data.
The engagement, performed by Eide Bailly LLP, a nationally recognized independent certified public accounting firm, included in-depth testing of InterplX controls and practices for the period between Oct. 1, 2010 and Sept. 30, 2011. Controls specifically examined during InterplX’s SSAE 16 engagement included:
- Physical access to InterplX’s corporate offices;
- Integrity of InterplX’s IT systems;
- Financial reporting controls;
- Reimbursement, audit and processing services;
- Access and communication controls with InterplX’s clients; and
- Risk assessment processes.
“Very few expense management software companies have passed these rigorous standards, let alone eight consecutive times,” said Chuck Buckner, president and CEO, InterplX. “Since 1994, we’ve helped our clients strengthen controls and reduce costs by minimizing the burden expense reporting can have on internal resources. A SOC 1 Type II is validation that the controls we have in place continue to ensure the reliability, accuracy and security of our systems for our clients.”
InterplX supplies outsourced processing of expense submission through receipt capture, card transaction import, audit and compliance resolution, payment and final archive management. It processes more than $1 billion in expenses, and its clients represent businesses of all sizes. InterplX procedures and controls are designed to maintain the security of transaction processing operations and client information at all times.
SSAE 16 compliance is a de facto requirement for a service organization that provides services to publicly traded enterprises, financial firms and health care organizations. The engagement examines and assesses the controls in place at service organizations that handle information relevant to the client company’s financial reporting.
“As a company and as individual employees, we take the SSAE 16 process very seriously,” said Valerie Bunnis, controller, InterplX. “More than simply meeting the requirements, we work tirelessly to ensure that our client’s data is secure at all times and that our reporting, payment, and audit services meet their compliance requirements.”
InterplX’s previous seven engagements were SAS70 Type II, which was replaced by the more rigorous and comprehensive SSAE 16 SOC 1 Type II standard in June 2011.
About InterplX, Inc.
Founded in 1994, InterplX is a leading provider of employee expense management and purchase card transaction processing solutions, delivering the most complete suite of services in the industry. Using a web-based solution, InterplX offers automated business expense management for every step of the process: card transaction import, report submission, receipt imaging, policy enforcement, expense auditing, discrepancy resolution and reimbursement. Known for providing highly customized implementations, InterplX has consistently delighted its clients by helping them strengthen controls, reduce costs, improve employee satisfaction and minimize the burden on internal resources. InterplX now provides expense management automation to more than 250 blue chip organizations, representing over $1 billion in spending.