Neoris' RAPID Application Solves Communication Dilemma for a Global Telecommunication Giant; Verizon Selects Neoris to Generate Communication Strategy

Business Wire, August 19, 2004

MIAMI -- U.S. based Neoris was recently ranked by IDC as the 4th largest IT consulting firm and 5th largest Custom Application Development Company in Latin America. With such a strong tech presence, Neoris was recently hired by Verizon Communications, one of the world's leading providers of telecommunication services, to help with a challenge the company had come across while developing an efficient communications service for its clients.

Global communications companies face the fact that their clients are physically and geographically disperse and sometime in remote places. As a result, companies often have disparate accounting and finance systems and formats and support their processes with different systems. In this context, finding a way to standardize communications internally by guaranteeing efficient communications services to their clients can be challenging.

Manual consolidation of revenue data from over more than five separate accounting systems nationwide was a significant challenge to be solved. The company needed to implement a flexible, integrally sound application that could easily adapt to constant change and multiple data formats. The application also had to offer the high quality customer service that Verizon is renowned for.

Neoris developed RAPID, a web-based application for revenue and accounting. This application integrates data from multiple accounting systems and automatically creates accounting entries into Verizon's general ledger accounting system and generates statements for Verizon and non-Verizon telephone companies.

The implementation of RAPID improved the communication process between Verizon and its users and delivered a 20% ROI within 14 months.

"That is our promise: go to the root of the problem, study the underlying mechanics of the client's business to develop an accurate and measurable solution that dramatically improves bottom line results," said Nancy Troutman, Neoris Director of Sales for the North region.

RAPID was designed in such a way that both financial and accounting personnel with the correct privileges can maintain and adjust the way accounting data is processed, reported and distributed to the company's partners -- without IT programming or development resources.

"Neoris' performance on this project was outstanding from a technical, business knowledge and project management perspective," said Brian Gainey, Verizon's Financial Systems Manager.

About Neoris

Neoris is the 4th largest IT consulting firm and 5th largest Custom Application Development Company in Latin America. Neoris also offers systems integration, and software deployment. As a digital enabler, Neoris transforms the way companies conduct business by using digital technologies to capture profits. Neoris is a privately owned company headquartered in Miami, Florida with over 1,000 employees in the US, Europe and Latin America. For more information, visit http://www.neoris.com.

Verizon Communications

A Dow 30 company, Verizon Communications (NYSE:VZ) is one of the world's leading providers of communications services, with approximately $68 billion in annual revenues. Verizon companies are the largest providers of wireline and wireless communications in the United States. Verizon is also the largest directory publisher in the world, as measured by directory titles and circulation. Verizon's international presence includes wireline and wireless communications operations and investments, primarily in the Americas and Europe. For more information, visit http://www.verizon.com.