MXA Monexa Technologies Corp

VANCOUVER, Aug. 13 /CNW/ -- VANCOUVER, Aug. 13 /CNW/ - Monexa Solutions Inc. ("Monexa"), the leader in flexible subscription billing, announces that it has completed a Type I SAS 70 audit. The audit was completed by Monexa's auditors, PricewaterhouseCoopers LLP ("PwC"). A copy of the description of these controls and PwC's opinion on the design of these controls is available to our customers and their auditors. This Type I SAS 70 audit covered Monexa's billing and payment processing services including the related information technology infrastructure controls. SAS 70 is a widely recognized auditing standard developed by the American Institute of Certified Public Accountants (AICPA) that addresses service organization's controls that may be part of a user organization's information systems in the context of an audit of financial statements. The scope of these reports often includes controls over hosting and processing of customer data. "We are seeing a dramatic increase in the number of large enterprise customers choosing a cloud solution like Monexa Billing over an expensive on-premise software package," explains Tom Carter, Vice President of Operations at Monexa. "This audit demonstrates our strong focus on operational excellence, as well as the commitment to internal controls by the team that has been running Monexa's SaaS billing service for over 10 years." "Companies are increasingly realizing the complexity, cost and risk associated with building their own subscription billing system or buying and managing on-premise billing software. The Type I SAS 70 audit provides independent third party reporting on our control environment for our large enterprise customers that do business with us and get their billing from the cloud." states John Jacobson, CEO at Monexa. About Monexa Monexa pioneered the on-demand subscription billing space and has worked with hundreds of businesses to help monetize their services. Having the most capable and open subscription billing solution in the cloud, combined with proven billing industry expertise, sets Monexa apart from other service providers. Monexa's customers range in size from high growth SaaS and Cloud Infrastructure companies like Untangle and ActiveState to large household name companies like Pitney Bowes Business Insight, AOL Canada, Sprint, Amway and Bell Mobility. For more information about Monexa Billing and the ways Monexa can help you monetize your services visit http://www.monexa.com. Forward-Looking Statements This news release contains forward-looking statements. Actual events or results may differ materially from those described in the forward-looking statements due to a number of risks and uncertainties, including changes in financial and product market conditions. Forward-looking statements are based on management's estimates, beliefs, and opinions. The Company assumes no obligation to update forward-looking statements, other than as may be required by applicable law. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. High resolution photos and interview opportunities available. Investor Contact: John Jacobson, CEO, D: 604.630.5661, E: ir@monexa.com; Media Contact: Sara Pereira, Pereira PR, P: 778.772.3208, E: sara@pereirapr.ca

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