Product category:
Document and workflow management software
News Release from: Exstream Software | Subject: Dialogue
Edited by the Manufacturingtalk Editorial
Team on 17 July 2001
Merrill Lynch Selects Exstream
Software's Dialogue
Dialogue Surpasses Cost Savings and Productivity Goals in Answering Requirements for Producing Critical, World-Class 401(k) Statements
Exstream Software has announced that the Benefits and Investment Solutions SM (BIS) division of Merrill Lynch has adopted Dialogue as its software of choice for producing their retirement statements Merrill Lynch's statement, recognised to be one of the best in the retirement industry and a recipient of the prestigious DALBAR Seal of Excellence, requires software that can handle complex customisation, dynamic graphs and tables, and the incorporation of targeted messages
This article was originally published on Manufacturingtalk on 17 Aug 2006 at 8.00am (UK)
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Dialogue was found to be the only software on the market that had the design breadth Merrill needed, and could meet the time-sensitive statement production requirements - which included speed, accuracy, and the ability to handle millions of documents in a single run.
With Dialogue, Merrill put their redesigned 401(k) statements into production in five months, resulting in productivity that far exceeded their goals.
"We had a critical business need to find a more flexible solution for producing the statements," said Rich Hopkins, director of the BIS Regulatory Reporting Department.
Further reading
UnumProvident Selects Exstream's Dialogue
UnumProvident (UNM) has selected its Dialogue software to be a common platform for designing, managing, and producing the communications it delivers to policyholders through multiple channels.
Certified for SAP NetWeaver status for Dialogue
Exstream Software has announced its Dialogue 5.0 enterprise document personalization software has achieved certification from SAP AG for integration with the SAP NetWeaver platform.
"After a thorough review of everything available on the market, we selected Dialogue for several reasons".
"It not only offered the functionality needed to handle all of our data files, but since it doesn't require complex programming we were able to get our redesigned statements into production in an incredibly short time-frame, given their complexity and the huge volumes of data that must be processed accurately and with speed".
Merrill Lynch provides their customers with a level of customised information in statements that few other financial institutions currently offer.
Statements are in descriptive layman's terms, and offer customisation for more than 400 plan sponsors.
"Merrill Lynch has long been recognised as a leader in statement design and presentation".
"Working to help them find a solution for producing their award-winning retirement statements was a wonderful opportunity to explore the breadth of Dialogue," said Davis Marksbury, president and CEO of Exstream Software.
"The robust functionality in Dialogue makes it possible for Merrill to develop complex applications in half the time it used to take, while gaining more production flexibility and improving overall performance".
Merrill Lynch Retirement services handles more than $300 billion dollars in total retirement assets for 2.5 million plan participants and 2.6 million Individual Retirement Accounts - producing over 2.5 million statements per quarter.
Merrill plans to take advantage of Dialogue's e-Fulfillment capabilities very soon so they can offer statement delivery over the Internet, as well as in printed format.
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