Lumigent AppGRC for Deltek Costpoint Goes SaaS at NeoSystems

Will Facilitate Continuous Monitoring of Costpoint Source Data; Streamline and
Accelerate DCAA, SOX, SAS 70 Level II Compliance Reporting
ACTON, Mass.--(Business Wire)--
Lumigent Technologies, Inc., the GRC business apps company, today announced that
AppGRC for Deltek Costpoint is deployed as a software-as-a-service (SaaS)
offering by NeoSystems Corp., a Lumigent customer. NeoSystems is a managed
service provider delivering accounting, financial, and contract management
services to government contractors and not-for-profit organizations. The firm
uses the Lumigent solution to augment its Deltek Costpoint managed services with
continuous monitoring of Costpoint source data and key controls, thus helping to
streamline and accelerate DCAA, SOX, and SAS 70 Level II compliance reporting.

"The NeoSystems mission is to help organizations dramatically reduce costs and
improve efficiencies by providing outsourced and hosted services," said John H.
Capobianco, president and CEO of Lumigent. "By deploying AppGRC for Deltek
Costpoint in a SaaS configuration, NeoSystems further improves the effectiveness
of its services by automating data and controls testing along with other
compliance tasks previously done by hand."

Michael Tinsley, founder, president, and chief executive officer of NeoSystems
Corp. said, "We are confident that many of our clients will benefit from AppGRC
for Deltek Costpoint. It will build on our commitment and practices to help
companies address the increasing amount of compliance reporting requirements and
challenges."

AppGRC at NeoSystems

NeoSystems offers customers an outsourced accounting service whereby NeoSystems
provides the Costpoint software used to deliver the service. The company also
offers an application hosting service for customers who have purchased
Costpoint. In both services, Costpoint runs in the NeoSystems data center along
with AppGRC for Deltek Costpoint, which monitors all customers` Costpoint
databases.

As a managed service provider, NeoSystems is responsible for responding to its
customers` auditors and for the costs associated with audits of customers`
Costpoint implementations. Previously, NeoSystems had to manually review
database backup files to determine when a particular field or file was changed,
a time consuming chore that failed to establish a complete audit trail or
identify who or how a change was made.

By automating compliance duties with AppGRC for Deltek Costpoint, NeoSystems can
quickly provide persuasive evidence of regulatory compliance to customers`
regulatory auditors. Just as important, NeoSystems can depend on AppGRC for
Deltek Costpoint to quickly report for its own audits, including the SAS 70
Level II audit of its data center. SAS 70 Level II certification confirms the
operational effectiveness of controls and is particularly important to the
NeoSystems customers that are publicly traded companies.

For more information on AppGRC, see
http://www.lumigent.com/solutions/appgrc.html, or for general information on
Lumigent, visit www.lumigent.com.

Recent News and Resources

News Releases:

* Deltek Partners with Lumigent to Deliver Governance, Risk, and Compliance
Solution for Government Contractors;
http://lumigent.com/news_events/press_releases.html?newsid=249
* Lumigent Bucks Economic Downturn, Attracts $6M in New Funding;
http://lumigent.com/news_events/press_releases.html?newsid=246
* Lumigent Offers Regulatory Relief with AppGRC for PeopleSoft Financial
Management; http://www.lumigent.com/news_events/press_releases.html?newsid=243

Market Brief: Application GRC: The Rise of Automated Business Compliance;
http://www.lumigent.com/Lumigent_Market%20Brief_081010_pre%20final.pdf

Executive Commentaries:
http://lumigent.com/news_events/executive_commentaries.html

Artwork: http://www.lumigent.com/news_events/artwork.html

About NeoSystems Corp

Based in Vienna, Virginia, NeoSystems Corp. (www.neosystemscorp.com) is an
employee-owned Managed Service Provider that specializes in accounting,
financial and contract management services to government contractors and
not-for-profit organizations. It provides full-scope, on-site services to a wide
array of publicly-held and privately-owned enterprises. NeoSystems
highly-skilled professionals use best-in-class software tools, particularly the
suite of Deltek products, to deliver unique, client-site, management accounting
service to a diverse and growing clientele.

About Lumigent

Lumigent helps CFOs, CIOs, controllers, and other business executives reduce the
cost of meeting Governance, Risk and Compliance (GRC) requirements for their
primary business applications. Organizations worldwide use Lumigent`s AppGRC
software solutions to automate compliance reporting in some of the most heavily
regulated industries, including financial services, healthcare, manufacturing,
and government. Lumigent improves operational efficiencies and mitigates
business and financial risk by providing complete visibility into application
data activity and automating application-aware controls to maintain the
integrity of critical business information. For more information, please visit
www.lumigent.com.

Lumigent and the Lumigent logo are trademarks or registered trademarks of
Lumigent Technologies, Inc. Other product and company names are property of
their respective owners.

TECHMarket Communications
Susan D`Elia, 650-344-1260
Susan@TECHMarket.com

Copyright Business Wire 2009