St. louis, MO, December 1, 2008— Savvis, Inc. (NASDAQ:SVVS), a global leader in outsourced managed computing and network infrastructure for IT applications, today announced that it has recently completed its fifth consecutive examination in conformity with Statement on Auditing Standards No. 70 (SAS 70), Service Organizations for the period October 1, 2007 through September 30, 2008 that was performed by Ernst & Young LLP.
Completion of the SAS 70 Type II examination indicates that selected Savvis processes, procedures and controls have been formally evaluated and tested by an independent accounting and auditing firm. The examination included the company’s controls related to managed security services, change management, service delivery, support services, backup and environmental controls, logical and physical security.
SAS 70 is designated by the U.S. Securities and Exchange Commission (SEC) as an acceptable method for management to obtain assertions about service organization internal controls without conducting separate assessments. In addition, the requirements of Section 404 of the Sarbanes-Oxley Act of 2002 make SAS 70 reports even more important to the process of reporting on effective internal controls by public companies.
A SAS 70 examination is widely recognized, because it represents that a service organization has been through an evaluation of their internal controls as they relate to an audit of the financial statements of its customers. A Type II report not only includes the service organization's description of controls, but also includes detailed testing of the design and operating effectiveness of the service organization's controls.
“As a leading outsourcing provider of managed computing and network infrastructure for IT applications, Savvis is focused on developing and refining systems and processes that fully secure our service delivery infrastructure," said Tim Caulfield, Senior Vice President of Operations for Savvis. “Our customers are faced with increasing compliance requirements and the SAS 70 examination is an important factor as they evaluate outsourcing their IT infrastructure.”
Savvis, Inc. (NASDAQ:SVVS) is an outsourcing provider of managed computing and network infrastructure for IT applications. By outsourcing to Savvis, enterprises can focus on their core business while Savvis ensures the quality of their IT infrastructure. Leading IT organizations around the world have selected Savvis to help them improve their service levels, reduce capital expense and deal with the rising costs of bandwidth, energy, real estate, staff and expertise. As a pioneer in utility computing, Savvis understands and harnesses the latest advances in technology like virtualization, cloud computing and support process automation. For more information about Savvis, visit www.savvis.net
Savvis Forward-Looking Statements
This document may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from Savvis’ expectations. Certain factors that could affect actual results are set forth as risk factors in Savvis’ SEC reports and filings, including its annual report on Form 10-K and all subsequent filings as well as the risk that potential product cost and performance benefits may not be realized for any particular customer. Savvis assumes no obligation to update or supplement forward-looking statements.