2008-10-01 03:42:34 -
www.averq.com - Scout PR Eileen Conway, 650-245-9015 eileen@scoutprsf.com AverQ, Inc., creator of the industry's first collaborative solution for corporations, audit firms, companies, and government regulators, today announced two strategic additions to its board of directors, as well as the appointment of new senior management team member. Joining the company's board of directors are Sridar Iyengar, former CEO of KPMG, India,
and Radha Basu, former Chairman and CEO of Support Soft. The company also added Court Rejman as executive vice president of business development. Rejman was the former vice president and general manager of Yantra Corporation, a Sterling Commerce Company. All three appointments bring to the rapidly growing AverQ deep domain know-how, combined with expertise in growing companies with technological excellence and high customer satisfaction at their core.
Having served as president of TiE Global (The Indus Entrepreneurs) and as partner-in-charge of KPMG's Emerging Business Practice, Sridar Iyengar brings to AverQ a unique ability to mentor growth-stage companies . Prior to these roles, during his long and distinguished tenure with KPMG, Iyengar served as chairman and CEO of KPMG's India operation, and also has the distinction of serving in all three of KPMG's regions (Europe, America and Asia Pacific) as well as in all four of KPMG's functional disciplines (assurance, tax, consulting and financial advisory services). Iyengar is on the board of Infosys (NASDAQ: INFY), ICICI Bank in India as well as of a few emerging growth companies in the U.S.
"AverQ is addressing one of the largest issues facing capital markets today, the need to provide timely and relevant audit reports to investors," Iyengar said. "Its innovative technology is vastly improving the auditing process by bringing audit firms and clients together. I am excited to work with AverQ's strong leadership team to scale the business."
Radha Basu brings to AverQ deep operational leadership experience as well as expertise in helping companies manage financial growth. Widely recognized with numerous awards, including Top 25 Women of the Web, CEO of the Year 2000 and Leader of the Millennium, Basu previously served as chairman and CEO of SupportSoft, where she led the company through initial and secondary public offerings and built it into a worldwide market leader in support automation software. Prior to SupportSoft, Basu spent 20 years at Hewlett Packard, with her most recent position being general manager of the Electronic Business Software Organization, which she grew into a global, $1.5 billion business. Recognizing the outsourcing boom early, Basu opened HP's software R&D operations in India, ultimately becoming general manager of HP's International Software Organization, with responsibility for eight offshore software centers around the globe. She is currently CEO of Anudip, a nonprofit foundation focused on creating rural IT livelihoods, serves on the boards of nonprofit organizations Interplast and CEO Women, and mentors entrepreneurs at Simmons and MIT.
"AverQ has brought a unique technological solution to a critical corporate problem," said Basu. "And its success is ultimately due to the management team's deep relationship with their customers and understanding of their needs. I look forward to working with AverQ in championing its customers' needs through its product lifecycle, with focus on excellence in customer satisfaction."
As the new executive vice president of business development focused on building direct and channel partnerships, Rejman brings to AverQ more than 20 years of experience in software sales. Rejman has been instrumental in generating revenue-building customer relationships, and growing sales management teams for a multitude of successful growth-stage companies, including Yantra, RightWorks and i2 Technologies. As the head of the sales, service & field marketing group for Yantra, Rejman helped establish the company as the global leader in order fulfillment solutions for a Fortune 500 customer base.
"I am thrilled to welcome to our management team these great industry talents," said Renuka Shankar, Founder and CEO, AverQ. "Our board will be greatly enhanced by these two amazing leaders. Sridar brings to AverQ true domain expertise and know-how, which will benefit our customers greatly. Radha likewise offers us deep public company operational knowledge, and the first-hand experience of growing a company rapidly without ever losing sight of customers' needs. In addition, Court will help us get even closer to our key channel customers via strategic business development initiatives. Working together, we will bring the audit process to unprecedented levels of ease and accuracy, reaching a rapidly growing market of audit professionals demanding this type of solution."
About AverQ, Inc.
AverQ delivers a comprehensive, on demand Integrated Financial Audit Management(TM) solution for global corporations, CPA firms and government regulators. This secure, subscriber-based online service streamlines the entire audit process for all parties in preparation and execution of the entire financial statement audit . Corporations can measure up to increased regulations with a comprehensive system of record, have relevant disclosure visibility, reduce time needs to support the audit effort, and lower audit costs through collaboration and a leveraged audit effort. Audit firms can streamline collaboration with their clients, streamline their internal quality control process, and, with a rapid rollout, achieve an immediate and compelling return on investment. Regulators now have better insight into the audit firms quality control and audit process. For more information about AverQ, visit www.averq.com.
ΒΆ Maker of Industry's First Collaborative Solution for Audit
Processes in Corporations, Audit Firms, and Regulators Announces
Former KPMG(India) CEO and Former SupportSoft CEO as Board Members;
Adds Former VP/GM of Yantra as Business Development Lead
