Veramark Technologies Inc. (VERA.OB), a provider of telecom expense management (TEM) solutions, announced it has signed an OEM agreement with MicroStrategy Inc. (MSTR), a worldwide provider of business intelligence (BI) software.

Under the OEM agreement, MicroStrategy BI technology will be embedded into the VeraSMART Communications Management Suite, Veramark’s modular TEM software. The initial product release will make it easy for users to quickly analyze telecommunications carrier invoices, dispute incorrect charges, uncover credits and terminate underutilized services, the company said. Subsequent releases will provide additional capabilities.

Veramark will supplement the new software with Professional Services, including expert consulting for data management and analytics, development of custom analytics, best practices process development, training, implementation support and system integration.

Veramark will deliver in Jan. 2009 the first in a series of BI components.