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St. James’s Place Uses Xenos InfoWEB To Provide IFAs With e-Statement Presentment For Monthly Commissions
United Kingdom, 16th January, 2006 -
Xenos, a leading provider of solutions that capture, transform, transport and present electronic data and documents, today announced that St. James’s Place Group has selected its infoWEB software. The financial services provider is using infoWEB to electronically present commission statements to its 2000 IFA (independent financial adviser) partners across the UK. infoWEB has enabled St. James’s Place to turn off its paper-based statement system, reducing print and mail costs and providing partners with the ability to interact with the data.
Each of the 2000 IFA partners receives a monthly commission statement detailing its return from the sale of St James’s Place products and services including investment funds, mortgages and business services. A typical statement can be in excess of 100 pages and cost to print and mail these is considerable. Also, partners often need to extract data with this data meaning time-consuming data re-entry.
“infoWEB provides a real value add to our partners,” explains the Head of Division - Partnership Accounts & Recruitment at St. James’s Place, Mike Karn. “The statements are rapidly generated in PDF format and accessed directly from our server via our extranet, from the fourth working day of each month. Partners can log on, view and download the statements.”
In addition the Xenos Professional Services team has tailored the infoWEB product to enable partners and St James’s Place account teams to export the information into Microsoft Excel to incorporate in their own reports.
As a result of using infoWEB St. James’s Place has been able to turn off the paper-based system, reduce overheads and expects to see a decrease in the number of statement enquiries from partners.
“infoWEB creates a truly self-service environment for St. James’s Place, making it far easier to interact with the data in often lengthy commission statements,” says Managing Director EMEA at Xenos, Jeff Mills. “They can expect to significantly reduce the operational costs associated with this essential process.”
About Xenos infoWEB
Xenos infoWEB software distributes business documents, statements and reports within departments and throughout the enterprise. Reports are distributed securely and rapidly to any standard web browser, allowing end users to view and easily extract critical information.
About Xenos
Xenos (TSX: XNS) is a leading global provider of high-performance software solutions for real-time information capture, transform, transport and presentment that automate the processing and delivery of data and documents. Xenos solutions enable organizations to reduce costs and increase organizational efficiency, agility and accountability by streamlining and simplifying the transformation and repurposing of data and documents into actionable business information, without reengineering legacy applications.
Xenos solutions are embraced worldwide across a wide variety of industries including financial services, insurance, healthcare, telecommunications, manufacturing, logistics, transportation, retail and government sectors.
A majority of Xenos' customers are among the Fortune 500 or Global 2000 leaders. Xenos has offices in Canada, the United States, the United Kingdom and France and sells and supports its solutions through a global network of resellers and partners. Xenos trades on the Toronto Stock Exchange under the trading symbol 'XNS.'
For more information, http://www.xenos.com/europe
Editorial Contacts:
Graham Thatcher or Joanna Cannon at MCC International:
MCC International Ltd
Tel: 01962 888100
Email: xenospr@mccint.co
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