Taulia Inc., provider of the only SAP-certified Dynamic Discounting platform and SaaS Vendor Portal on the market, announced today that it has successfully completed the rigorous SAS 70 Type II certification process. SAS 70 is an internationally recognized auditing standard developed by the American Institute of Certified Public Accountants (AICPA). Based on an independent audit, SAS 70 certification allows service organizations to guarantee process integrity for their customers.The independent audit concluded that Taulia's control systems are suitably designed to achieve effective performance and that Taulia has fully implemented and satisfactorily complies with these controls and processes, as audited for the control period 2010.
"We view SAS 70 Type II as the best way to show to our customers that we have suitable safeguards in place to protect the security, privacy and sensitivity of all customer data. For our Fortune 500 customers this often is a 'must-have criterion' for vendor selection," explains Markus Ament, Taulia's CPO.
While SAS 70 Type I outlines the procedures, policies and controls that are necessary to ensure effective performance, the SAS 70 Type II is an independent audit that also tests and validates that the organization has effectively implemented and follows these procedures, policies, and controls.
Taulia provides Global 2000 companies with the ability to earn returns that are 50 times higher than current money market interest rates by paying suppliers early on approved invoices. Treasurers value the ability to invest flexibly and risk-free at double-digit returns, while Procurement likes improved supplier satisfaction and AP benefits from Taulia's free self-service Vendor Portal.