Verizon Information Services Selects Neoris to Create RAPID Solution for Financial Integration Initiative

Business Wire, July 17, 2002

Business Editors/High-Tech Writers

New Revenue Accounting System Will Support National Consolidation

Efforts to Streamline and Simplify Financial Processes for Worldwide

Directory Publisher

Neoris, a global consulting and systems integration company, announced today that Verizon Information Services, the world's leading print and online directory publisher, has selected the company to begin development of a single revenue accounting process information database (RAPID) system to centralize financial data and processes for improved efficiency and maintenance.

Verizon Information Services (VIS), the publishing unit of Verizon Communications Inc. (NYSE:VZ), was formed in 2000 after the GTE-Bell Atlantic merger. In an effort to streamline information collection and create operational consistency, VIS has decided to consolidate the resulting disparate billing, accounts receivable and collection systems.

"Neoris proposed a Java-based (J2EE) solution that will allow full flexibility in importing, manipulating and sorting data, generating reports through a simple interface and self-maintenance of the system," said a spokesperson for VIS. "The open source solution Neoris recommended prevents frequent upgrades and additional system maintenance while making use of existing business software and technology. The transition should not cause inconvenience to VIS' vast customer base."

The new custom RAPID application will include components for interfacing with other VIS systems, producing reports and generating and managing settlement statements, telephone company information and journal entries. Neoris will also provide training to the VIS team to support future maintenance and to leverage full functionality.

"With so many recent acquisitions and mergers in the telecommunications industry, it is vital to quickly and efficiently align systems with business procedures and create adaptable solutions for real-time decision-making and rapid return on investment (ROI)," said Cameron Ware, Neoris USA vice president in the Dallas/Fort Worth office. "Our expertise in the telecom and financial services industries gives us the experience and perspective to make timely, strategic process and technology recommendations for a system that supports VIS's immediate and long-term business goals."

The design, development and implementation of RAPID for VIS is being planned to coincide with the first conversion of the company's new integrated billing system currently under development. Full implementation is scheduled for early January 2003.

About Neoris:

Neoris provides innovative business solutions and IT systems integration for enterprise customers worldwide. With Fortune 1000 clients that include Microsoft, Xerox, Ericsson and Cablevision, Neoris supports businesses and IT operations in Argentina, Brazil, Chile, Mexico, Portugal, Spain, Venezuela and the United States. The company's unique approach combining world-class consulting, technology and design to offer true end-to-end solutions provides customers with increased revenue and measurable results. Neoris' worldwide resources of more than 1,400 employees offer excellence in a wide range of industries, with particular focus on finance, consumer and industrial manufacturing, natural resources, government and telecommunications. Neoris is a CxNetworks company. More information is available online at http://www.neoris.com.