ROCHESTER, N.Y., Sept. 14, 2004 (PRIMEZONE) -- Communication Synergy Technologies Inc. (ComSynTech) (Pink Sheets:CSYT), a business solutions company, sees its CDV 1000 Document Vault as an efficient and ready to use information solution that can accommodate the growing needs of government to archive and preserve documents.
Throughout the United Sates, 87,900 local and state governments are burdened by the growing need for creating and storing documents, sometimes for hundreds of years. These documents, numbering in the hundreds of millions, reflect historical, legal, financial and contractual information that will require archiving for dozens, if not hundreds of years. The need to archive and preserve certain records and have them available for scrutiny without fear of volatility or inaccessibility is a major concern.
Where documents are stored and maintained under controlled environmental conditions, the cost escalates with volume. Additionally, the retrieval of a document in these situations is generally limited to "batch only" retrieval or is archived in digital format and saved to media that may become obsolete or damaged with time.
Until now, electronic storage has been subject to accurate and dependable retrieval only if the document's originating hardware and software are available. This is a formidably expensive task, since it requires retaining legacy software and hardware that may not be available when the retrieval of information is required.
The CDV 1000 Document Vault, so named because of its unique ability to digitize and preserve for storage and retrieval all types of documents, is a scalable electronic filing device that captures, manages and annotates any document, in any format, for preservation and retrieval in a "human readable format" for hundreds of years.
A unique feature of the Document Vault that makes it especially appealing to all levels of government is its ability to work with any operating system to preserve documents for up to 500 years and retrieve them without regard to the software and hardware that originated them. The system's unique ability to eliminate the problems posed by the rapid obsolescence of software and hardware used to create the documents, further increases its appeal as a timely, affordable and scalable solution for governments worldwide.
Since the expansion of government is unavoidable, as is the role it plays in everyday business via legislation (i.e. the Sarbanes-Oxley Act), the Document Vault is a solution that simplifies and facilitates compliance.
The compliance requirements of Sarbanes-Oxley legislation calls for the tracking and recording of all aspects of corporate governance, certification, disclosures, internal controls, financial statements, as well as executive reporting.
According to Michael Perrotta, Chief Operating Officer for ComSynTech, "Our proof of concept for the Document Vault was tested with the Town of Brighton, an upscale suburb of Rochester, New York. Like many municipalities throughout the U.S. and the world, the town is faced with a growing concern. It must securely store its approximately 2.5 million documents and related records while assuring that they will be accessible and readable in both the short and long term."
He goes on to state, "Our findings confirmed our initial concepts, proving the Document Vault provides a simple solution for managing and tracking documents, with preservation and retrieval function, that saves time and storage cost, while complying with records retention requirements for federal, state and local governments."
Seth Borg, CEO of ComSynTech notes, "We see the Document Vault fitting into any size governmental agency or business faced with the need for preserving and archiving documents, with the assurance they will be available when needed."
About ComSynTech
Communication Synergy Technologies Inc. (ComSynTech) develops and markets document creation, management and preservation systems for medicine, industry, finance and government. It's products provide efficiency, flexibility and improved quality by automating the creation, capture, management, distribution, archiving, preservation and retrieval of voice and word documents across multiple markets. ComSynTech products and development platforms integrate with and complement existing technologies, accelerating time-to-implementation. ComSynTech's Document Vault addresses the content and document management services market, forecast by IDC Research to grow to $24 billion by 2006. The InFORM(tm) system is targeted at the medical specialties information and practice management solutions industry, a $4.8 billion dollar market.
"Safe-Harbor" Statement under the Private Securities Litigation Reform Act of 1995
This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including statements regarding potential sales, the success of the company's business, as well as statements that include the word "believe" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of ComSynTech to differ materially from those implied or expressed by such forward-looking statements. Such factors include, among others, the risk factors included in ComSynTech's Annual Report, quarterly filings and any subsequent reports filed with the SEC under the Exchange Act. Actual results could differ materially from those anticipated due to factors such as the lack of capital, timely development of products, inability to deliver products when ordered, inability of potential customers to pay for ordered products and political and economic risks inherent in international trade.