Press Releases: 2/2/2009

OL&T Announces SAS 70 Certification Support Clients’ Sarbanes-Oxley Requirements

DANBURY, Conn. (Feb. 2, 2009) — Odyssey Logistics & Technology Corporation (OL&T), a global logistics and transportation service provider for chemical and process industries, announces today that it has received certification that it is SAS 70 Type I & Type II compliant.

It is widely recognized that the SAS 70 audit and certification is the industry gold standard for data center information technology processes. The process and the certification will provide OL&T customers with assurances of security and reliability.

According to Cosmo Alberico, executive vice president and chief financial officer for OL&T, “This is an important certification for OL&T, as it validates that we have implemented a high standard of controls and data processes designed to ensure the security and proper treatment of our customers’ data.  The nature of our services, which requires the handling of millions of customer transactions annually, underscores the importance of this certification.”

Lori Davlos, controller for OL&T, spearheaded the certification process.  “This was an intensive review audit which evaluated numerous control objectives designed to ensure that the large number of transactions we process, including shipment orders, freight charges, customer cash receipts, and disbursements, are accurately, timely and properly recorded,” said Davlos.

Davlos went on to explain that, “a SAS 70 audit is the definitive overview by which a service provider can validate its operating effectiveness.  Earning Type II certification of our managed logistics services facilities is monumental and illustrates our dedication to the highest standards of service for our national and global clients.”

The SAS 70 certification provides assurance to customers that OL&T has adequate controls and safeguards in place when hosting and processing data.  SAS 70 is the standard for Sarbanes-Oxley compliance, making it a critical qualification for companies that provide services to third parties involving financial and operational transactions.

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