SANTA CLARA, CA--(Marketwired - Jun 17, 2013) - Leeyo Software, a provider of software for revenue recognition automation and management that helps companies automate and manage all key revenue-recognition requirements, announced today that Leeyo and its Software-as-a-Service (SaaS) platform, RevPro OnCloud, is compliant with the requirements of the Statement on Standards for Attestation Engagements No. 16. This international accounting standard (formerly referred to as SAS 70) has been developed by the Accounting Standards Board (ASB) and the American Institute of Certified Public Accountants (AICPA), and focuses on "Trust Service Principles" for establishing standards of control for Service Organizations.
The audit, conducted by Moss Adams, a global leader in assurance, tax, consulting, risk management and transaction services, reports on the controls in place at service organizations and confirms that Leeyo met the requirements for SSAE 16 Type 2 compliance, a stringent standard that addresses security, availability, processing integrity, confidentiality, and privacy.
Service Organization Control (SOC) reports are internal control reports on the services provided by a service organization and are designed to provide valuable information to help users and customers define and interpret risks associated with outsourced financial and accounting services. The SOC 2 report is based on Trust Services Principles (TSP), which are designed to provide customers with full confidence that a service and/or SaaS provider's technology, systems and controls provide security, availability, confidentiality, processing integrity and/or privacy in accordance with AICPA attestation standards.
"Leeyo's commitment to its customers continues to drive us to adopt the most stringent, international data security and processing standards, and the completion of this audit highlights how Leeyo continues to demonstrate its market leadership and why RevPro is the offering of choice for revenue automation," said Pramod Anavangot, Leeyo's Director of Product Management and Quality Assurance. "And we chose Moss Adams to conduct the audit in order to provide our customers and prospects even greater confidence that the data they entrust to us is always safe, accessible and meets the most current and rigid industry standards."
"In order to serve the needs of customers and partners around the world, it is important that service providers demonstrate the efficacy of the controls and safeguards they have created to protect and process important customer data," said Chris Kradjan, a partner with Moss Adams LLP, the accounting, tax, and consulting firm that conducted the Leeyo Software audit. "This SOC 2 Type 2 audit gives an additional level of confidence to Leeyo customers, helping to distinguish it among other providers in the market."
For more information on SOC audits and reports, visit the AICPA website at www.aicpa.org.
Leeyo's next-generation revenue recognition software rescues companies and revenue teams of all sizes from the chaos of today's manual data entry or customized processes. Leeyo's RevPro -- the most complete revenue recognition software suite on the market -- automates and manages every process facing a revenue team -- seamlessly integrating with the quote-to-cash processes of any ERP system to deliver unparalleled visibility, functionality and configurability to the revenue recognition and reporting process. Learn more about Leeyo and RevPro at www.Leeyo.com.