Insight Investment Manages Risk With BizFlow

One of the UK’s Largest Investment Management Firms Increases Accuracy, Efficiency and Effectiveness of Incident Management with HandySoft’s Enterprise BPM Solution

London, U.K. - February 13, 2006 - HandySoft Global Corporation, a leading provider of business process management (BPM) solutions for financial services companies, today announced that Insight Investment, one of the UK’s largest asset managers, has selected BizFlow® to manage its Incident Reporting System (IRS).  Insight Investment’s IRS is an automated system for reporting losses, near misses, regulatory breaches, complaints and other control failures, enabling escalation and issues tracking across the entire company.  Adding BizFlow, HandySoft’s award-winning BPM platform, to their risk management suite will assist in the management of risk across their business by increasing the accuracy, efficiency and effectiveness of incident management and reporting.

"Traditionally, we have developed ‘best-of-breed’ application architectures which are primarily based on integrated package applications purchased from market-leading vendors.  These applications provided most of the core functionality needed for our Incident Reporting System, but there were a number of manual processes which required better controls than the current platform allowed," said Peter Lethbridge, head of Information Technology at Insight Investment.  "Following a thorough evaluation of solutions provided by a number of BPM vendors, Insight decided to purchase and implement BizFlow.  We expect to leverage this investment to deliver real benefits to other areas and applications of the business."

Financial services providers have no choice but to automate their complex business processes in order to remain competitive. They have to create a seamless front for the customer and the front-line customer support that ties together a myriad of business units, back-end systems, and a wide range of applications.  Moreover, they have to do all this in a way that gives decision-makers throughout the enterprise - from the customer accessing information and services on the Web to executives - the visibility and insight they need to make sound and timely decisions.

"Consolidation and globalization of the financial services market has put pressure on the services providers to improve operational efficiency, drive customer loyalty, and bring an ever-increasing range of financial services products to the marketplace.  Add to this challenge the pressures of regulatory compliance and the task becomes even more complicated," said Brian Boxman, Chief Operating Officer, HandySoft Global. "We have helped numerous banking institutions, credit unions, insurance companies and investment management firms around the world address a broad range of process challenges. Based on these experiences, we have optimized features of BizFlow to specifically reduce the risks and meet a myriad of other needs associated with process automation for financial services companies."

For more information about BizFlow solutions for financial services, please visit: http://www.handysoft.com/solutions/financial-services/?src=pr91.