Vibato Achieves 69% Control Count Reduction for iMergent Through Process Reengineering Effort

Vibato Achieves 69% Control Count Reduction for iMergent Through Process Reengineering Effort

PETALUMA, CA -- (MARKET WIRE) -- Aug 11, 2010 -- Vibato announces the completion of a recent process reengineering project for iMergent, Inc. (AMEX: IIG), a leading provider of proprietary e-commerce software platforms and portfolio services with multiple subsidiaries. iMergent engaged Vibato to reengineer their internal control infrastructure, implement best-practice controls, and provide a fully-integrated testing environment. Vibato implemented a high level risk assessment, six process control cycles and a segregation of duties analysis to give iMergent an improved internal control environment for their 2011 fiscal year, ready for testing work, and reviewed the transition for completeness and accuracy with their external auditors. The process was completed in four days, with active participation by iMergent's finance organization.

"We wanted a revamp of our internal control environment with a focus on controls reduction and an integrated environment by having more direct and precise controls. We were very impressed with the efficiency and scalability of Vibato's approach, especially considering our business complexity," said Jonathan Erickson, Chief Financial Officer of iMergent, Inc. "The significant reduction in controls from 339 down to 107, combined with the integrated testing capabilities, will allow us to be more efficient in our processes and testing. This is a great example of Vibato's value-driven focus and commitment to customer success."

"Our tools are designed specifically for this type of implementation project, even for complexities in such areas as software revenue recognition," said Bill Bockwoldt, Chief Executive Officer of Vibato. "I believe our success with iMergent is a clear indication that our unique approach to managing internal controls for financial reporting continues to position us as the most cost-effective compliance provider in this area today."

iMergent, Inc. (AMEX: IIG) provides proprietary e-commerce software platforms and portfolio services, through their StoresOnline and Crexendo subsidiaries, including web design and development, custom programming, SEO services and internet marketing and training to entrepreneurs and businesses, enabling them to sell and market their products or services over the Internet. For more information, please visit www.imergentinc.com.

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 www.vibato.com.

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Contact:

Andrew Wilson
Vibato
(415) 240-4867 ext. 2400
Email Contact

Jeff Jarvie
iMergent
(801) 431-4631
Email Contact