Company completes a full Sarbanes-Oxley implementation in less than one week and for less than $45K for a $150M market cap company
SAN FRANCISCO, Calif. - December 2, 2009 - Vibato, a leading provider of innovative, efficient solutions helping companies of all sizes and industries minimize the costs associated with Sarbanes-Oxley and SAS-related compliance requirements, today announced that Zagg, Inc implemented Sox Compliance Made Simple (SCMS) in less than a week for less than $45K. With companies like Zagg and a consistently growing customer roster, Vibato continues to see rapid adoption of the SCMS toolset. Vibato customers and partners benefit from the rapid implementation time, integrated controls testing procedures, supplemental documentation to ensure proper control understanding and execution, and standardized approach based on best-practice methodologies.
Zagg, Inc., a $150 million market cap company and the innovative consumer products manufacturer of the invisibleSHIELDTM clear protective film, has experienced rapid growth leading to a transition to accelerated public filer status for 2009. This transition required an accelerated Sarbanes-Oxley implementation project that could be completed in a short time period and would not interfere with their rapid growth and demanding resource constraints. Vibato was able to complete the initial implementation at Zagg in just two days which included a risk assessment, documentation of eight process cycles and a segregation of duties analysis, and will complete all required initial testing in just a few weeks.
"I was surprised and very satisfied that Vibato was able to complete the implementation and testing so quickly," said Brandon O'Brien, chief financial officer at Zagg, Inc. "This really reduced our own anticipated internal resource effort, while keeping the costs down and still allowing us to be prepared for our year-end audit."
Zagg was referred to Vibato by their audit partner, Paul Skeen, at Hansen, Barnett, & Maxwell P.C. (HBM). Based on a belief in Vibato's unique approach with SCMS®, HBM has referred several clients who need a truly cost-effective approach comprised of a comprehensive set of tools and documentation that can be completed in as little as one day.
"We are very supportive of Vibato because they really understand how to deliver value in their approach and we believe this provides the highest level of service to our clients," said Paul Skeen, partner at Hansen, Barnett, & Maxwell P.C. "We are continually looking for ways to assist our clients in meeting their compliance needs and Vibato's unique approach is the best we have seen for helping our clients establish or refine a strong internal control infrastructure quickly and cost-effectively."
"We were delighted to work with a great growth company like Zagg; we really feel like we get what our customers need just like they do," said Teresa Bockwoldt, chief executive officer, Vibato. "I am confident our approach can serve non-accelerated and accelerated filers of all sizes and needs, as well as those companies who have already completed their Sarbanes-Oxley work and are looking for a more efficient approach that reduces both cost and effort. We share a common vision with HBM for delivering excellent customer service and value to our clients and our clients' shareholders. This effort, combined with the great service provided by HBM, makes Sarbanes-Oxley implementations useful for clients."
ZAGG, Inc. (NASDAQ: ZAGG) is dedicated to protecting and enhancing the mobile experience. ZAGG designs, manufactures and distributes protective clear coverings and accessories for consumer electronic and hand-held devices worldwide under the brand names invisibleSHIELD(TM) and ZAGGaudio(TM). ZAGG continues to increase its product lines to offer additional electronic accessories and services to its tech-savvy customer base, including upcoming technologies like ZAGGbox, to be introduced at CES 2010, and HzO, a breakthrough gadget waterproofing technology. The invisibleSHIELD is a protective, high-tech patented film covering designed for iPods, laptops, cell phones, digital cameras, PDAs, watch faces, GPS systems, gaming devices and other items. The patent-pending invisibleSHIELD application of clear protective film covering a device is the first scratch protection solution of its kind on the market and has sold millions of units. For more product or investor information, please visit the company's web site at here.
HBM has provided quality client service for more than 40 years and has built a solid understanding of businesses. HBM's experience gives them the edge to help their clients grow and succeed. Whether for traditional CPA services such as audit, tax and write-up, or for more specialized services such as SEC filings, profit enhancement, benefits consulting, litigation support and more, HBM's expert staff is ready to customize a portfolio of services designed to meet customer needs and exceed their expectations. For more information, please visit http://www.hbmcpas.com/.
Vibato's game-changing modular approach allows scalability while also minimizing implementation and ongoing testing costs. In addition, the integrated and standardized approach helps streamline the external audit effort, resulting in both cost and time savings for Vibato partners such as HBM and their clients.
The SCMS suite is currently available for companies of all sizes and industries. For more information please visit this link or call (888) 4VIBATO.
About Vibato
Vibato, LLC is dedicated to providing the most cost-effective compliance solutions available. Our mission is to help you reduce audit and compliance fees, improve financial transparency and run your business more efficiently. For more information, please visit us at www.vibato.com or contact us directly at mail@vibato.com.