Bank increases efficiencies, customer retention and sales processes with
Chordiant ICIM and Marketing Director software infrastructure...
Cupertino, Calif. and London -- June 27, 2001 - Chordiant Software, Inc.
(Nasdaq: CHRD), provider of the Unifying Customer Relationship
Management (CRM) Solution, today announced that Barclays Asset Finance
has completed the first-phase implementation of its "Integrated Customer
Solution" based on Chordiant's Intelligent Customer Interaction
Management (ICIM) platform. Barclays Asset Finance (BAssF), one of the
UK's leading suppliers of asset finance to the corporate market and a
subsidiary of Barclays Bank, instigated the project to increase
efficiencies and customer retention while improving sales processes.
BAssF selected Chordiant over other CRM vendors for Chordiant's
integrated business process engine and flexible infrastructure.
Chordiant provided the best solution for BAssF's goal to integrate its
disparate legacy applications and enrich its customer history databases
with complete real-time information at multiple customer contact points.
Historically, BAssF has operated its business through several individual
legacy systems, that required different departments to support each
system - this resulted in customer information being stored across a
number of disparate databases. Chordiant's ICIM platform has delivered
a complete picture of the customer across these disparate databases, and
also enabled the standardisation and simplification of business
Phase One of the BAssF solution is now complete -- covering several
service processes including the identification and verification of
customers, handling routine inquiries, capital balance inquiries and
customer maintenance. Phase Two of the program will encompass other
service processes, together with core sales processes.
The Chordiant Unifying CRM Solution has provided BAssF customer sales
and service agents with a simple and flexible desktop system that
supports inbound and outbound calls, letters and faxes, and enables fast
real-time access to all data held in backend systems. The system now
provides a single view of each customer.
Paul Roberts, Operations Director at BAssF commented, "The Chordiant
system has been extremely well received. The single view of all data
relating to large and small corporate customers has enabled our users to
become much more efficient in their daily activities. With fast response
times and easily interpreted information, process times have been
significantly reduced. An extreme example is that of a typical capital
balance inquiry, reduced from five days to just a few minutes. With the
advantage of a consistent, single user interface and intuitive process
fulfilment, a rapid return on investment looks easily attainable when
the sales processes are also implemented."
Sam Spadafora, Chairman and CEO of Chordiant, said: "Barclays Asset
Finance selected Chordiant on the basis of our strong integration
capability. The flexibility of Chordiant's ICIM platform in
communicating with legacy systems has really shone through and as a
result of the implementation, Barclays Asset Finance can now offer an
increased product and service range to its existing and new customers,
increasing efficiencies and improving customer retention.
"The announcement depicts a good relationship with a financial world
leader and a key Global 1000 company in our customer portfolio.
Barclays' support underlines our global position as the premier
enterprise provider of customer acquisition, retention, relationship
marketing, service and relationship management services."
Phase Two of the BAssF program, scheduled to be completed later in 2001,
is expected to support the sales services from quoting and creating a
deal through to packaging up agreements and storing all the information
in one place.
ABOUT BARCLAYS ASSET FINANCE
Barclays Asset Finance, a subsidiary of Barclays Bank plc, is one of the
UK's leading suppliers of asset finance to the corporate market.
Established over 60 years ago, Barclays Asset Finance provides asset
finance to a broad spectrum of UK businesses through a number of
innovative delivery channels which reflect the size of the deal and
needs of the customer. From the large value end of the market where
there is a requirement for financing assets of £20 million or more -
such as oil rigs and passenger aircraft - to smaller ticket corporate
deals arranged over the telephone in under four hours, Barclays Asset
Finance can provide a focused and flexible service.
Barclays Asset Finance is also a key player in the vendor finance market
and provides own label finance for equipment manufacturers through its
ABOUT CHORDIANT SOFTWARE
Chordiant Software (www.chordiant.com) delivers a Unifying Customer
Relationship Management (CRM) solution based on Chordiant's branded
platform strategy, the Intelligent Customer Interaction Management
(ICIM) platform. Chordiant's ICIM platform provides highly scalable
building blocks for developing and integrating flexible CRM solutions
into customers' existing enterprise-wide systems.
No matter how consumers choose to communicate with the enterprise -
through branch locations, Web, e-mail, telephone or wireless access -
the Chordiant Unified CRM Solution provides a real-time, single view of
each customer and a consistent, personalised process for every
interaction. It includes a comprehensive business process engine, which
allows companies to implement best business practices across multiple
touchpoints. As a result of Chordiant's sophisticated Marketing
Automation Business Services, marketers can maximise their ROI through
the creation, execution and refinement of sophisticated direct marketing
initiatives that span both traditional and online channels. Chordiant
empowers high-value contacts designed to retain customers, grow revenue
and drive profits during every contact.
Headquartered in Cupertino, California, and London, Chordiant maintains
regional offices in Boston; Chicago; Dallas; Manchester, New Hampshire;
New York; Brentford, UK; Amsterdam; Paris; Munich; Sydney and Melbourne.
This news release includes "forward-looking statements" that are subject
to risks, uncertainties and other factors that could cause actual
results or outcomes to differ materially from those contemplated by the
forward-looking statements. For this purpose, any statements contained
in this news release that are not statements of historical fact may be
deemed to be forward-looking statements. Words such as "believes,"
"anticipates," "plans," "expects," "will," "would," and similar
expressions are intended to identify forward-looking statements. There
are a number of important factors that could cause the results of
Chordiant to differ materially from those indicated by these
forward-looking statements, including, among others, potential
difficulties in the assimilation of operations, strategies,
technologies, methodologies, and products of acquired companies; the
risk of loss of key personnel of an acquired company; diversion of
management attention from other business concerns; and business risks
including the risk of variations in quarterly operating results,
significant current and expected additional competition, and the need to
continue to expand product distribution and service offerings. Further
information on potential factors that could affect the financial results
of Chordiant are included in risks detailed from time to time in
Chordiant's Securities and Exchange Commission filings, including
without limitation Chordiant's report on Form 10-Q for the quarterly
period ended March 31, 2001, as filed on May 15, 2001 and the Annual
Report on Form 10-K filed on March 27, 2001. Also, statements in this
news release related to the expected benefits are subject to risks
related to the timing and successful completion of technology and
product development efforts; integration of the technologies into
Chordiant's existing products; unanticipated expenditures; changing
relationships with customers, suppliers and strategic partners; and
other factors described in both the Securities and Exchange Commission
by Chordiant with the Securities and Exchange Commission.
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