February 12, 2019, ROCKAWAY, NJ – Lucrotec, an intelligent payment automation solution provider, today announced that has completed and received its SSAE 18 SOC1 Type 2 certification. This independently audited certification provides verification that Lucrotec controls and processes are verified and meet the demand for process controls, confidentiality, and privacy of information.
The independent Service Auditor’s Report, relating to the Automated Payment Exchange (APeX) processes and the suitability of design and operating effectiveness of Lucrotec’s controls was issued by Markovitz Dugan and Associates, a leading certified public accountants and business consultant organization. In accordance with SSAE 18 (Statements on Standards for Attestation Engagements) the SOC1 Type 2 audit report contains a description of Lucrotec’s internal controls and the auditor’s validation and testing of those controls.
“We are pleased to announce the completion of a SSAE 18 SOC1 Type 2 audit,” said David Spofford, Lucrotec’s chief executive officer. “Security, confidentiality, and operational performance are priority concerns for all organizations. We take these concerns seriously and believe it is essential that Lucrotec demonstrate independently verified controls for the protection of our clients and partners. This certification assures our clients and partners that Lucrotec’s policies, procedures, and the personnel responsible for these controls meet the demand for information security, confidentiality, and privacy.”
About SSAE Certification
The SSAE certification was developed by the American Institute of Certified Public Accountants (AICPA). Organizations must follow AICPA rules when conducting an audit of a company’s internal controls. SSAE 18 (often referred to as SSAE 18 or SOC; and previously known as SSAE 16 or SAS 70) contains the rules for conducting an attestation of a service organization’s internal controls and issuing a System and Organization Controls (SOC) report. Service auditors are required to follow these rules when conducting a SSAE 18 engagement.
Lucrotec provides technology-driven, business to business supplier payment automation solutions and consulting services to global enterprises. Without disrupting established accounts payable processes, Lucrotec clients experience new and dramatically enhanced revenue streams, improved process efficiencies, reduced operational costs, decreased fraud risks, improved payment security and increased visibility into their vendor expenses and relationships.
Lucrotec’s intelligent payment automation solution combines service expertise in technology and financial management with proprietary software that automates and optimizes the entire vendor payment process. Lucrotec payment automation ensures payments are secure, accurate, on-time, and optimized to generate optimal financial rewards for its clients.
Additional information about Lucrotec, its products, services and, business partners can be found at www.lucrotec.com, or requested via e-mail at email@example.com, or by calling 1.855.677.6348.