Delphi Group Research Shows Verity Recognized for Leadership in Classification and Taxonomy Software by Business Users
Survey Indicates Well-Organized and Managed Intellectual Capital Can Raise User Satisfaction and Value of Content
SUNNYVALE, Calif - 2004-06-14 - Verity Inc. (NASDAQ: VRTY), a leading provider of enterprise software that enables organizations to maximize the return on their intellectual capital investment, was identified by more respondents as "leading in the development of taxonomy" than any other provider, according to a just-released research survey prepared by Delphi Group, an independent business advisory service.
The Delphi report is an investigation of the views of information technology managers, designers and users within public and private organizations of most sizes and types on the ease of and impediments to finding intellectual capital within their organizations. Titled "Information Intelligence: Content Classification and the Enterprise Taxonomy Practice," it is the latest report in an ongoing Delphi Group series that examines the state of technology and the level of business practice in the critical and related areas of information architecture, taxonomy/classification, and search and retrieval.
According to Hadley Reynolds, Delphi Group's vice president and research director, "it is clear from the information presented in this report that taxonomy and classification provide a key new area of business practice and an opportunity to change the investment return profiles for current IT assets."
The survey, conducted among 300 companies, found 59 percent of respondents felt locating and accessing information needed to do their jobs had become simpler and more effective over the last two years. Despite that view of improvement, a similar percentage of survey participants suggested they are still dissatisfied with overall information retrieval efficiency.
"We feel that the solution to this problem lies in bringing the business and IT communities together - coordinating different disciplines and technologies to better organize content to meet the needs of various audiences," said Anthony J. Bettencourt, Verity's president and chief executive officer. "It is encouraging to see that users are acknowledging improvements made in classification recently, and we will continue to pursue the challenge of making it easier to build and maintain taxonomies that reflect the dynamic nature of every business." The Delphi research survey shows that more respondents perceive Verity as a company leading in the development of taxonomy than any other provider.
When asked to identify the largest impediment to timely and effective retrieval of information, respondents overwhelming pointed to the fact business content is changing constantly and, thus, has to be relocated and retrieved constantly. "For most organizations, information is very much a currency whose worth is determined by availability and access," Reynolds said. "Verity has done significant research and development to advance the quality of taxonomy construction and maintenance, and to drive applications that use these organizing technologies to improve the search experience for business users. We expect to see more innovation in this area from the company in the coming months."
This comprehensive Delphi Group study was conducted globally, representing all geographical regions and 14 different vertical markets and involved individuals with roles that ranged from senior management in both IT and business functions to line of business managers, project managers and end-users.
About Delphi Group
Delphi Group, a Perot Systems company, has been providing technology management services to the Global 2000 since 1989. Through focused market research, consulting and value-driven educational programs, Delphi Group consultants illuminate the role of technology in the digital enterprise. To learn more, contact Delphi Client Services at (617) 247-1025 or 800-575-3367 or e-mail client.services@delphigroup.com or visit www.delphigroup.com.
Additional information on Perot Systems is available at www.perotsystems.com.
About Verity
Headquartered in Sunnyvale, California, Verity provides software that enables organizations to maximize the return on their intellectual capital investment. The company's intellectual capital management (ICM) solutions provide integrated search, classification, recommendation, monitoring and analytics across the real-time flow of enterprise information, along with question and answer interfaces for effective online self-service. Other Verity ICM solutions capture content and drive automated business processes. Verity technology also serves as a core component of more than 260 applications from leading independent software vendors.
Verity software solutions are used by more than 11,500 customers in the private and public sectors. Customers include American Express, AT&T, Bristol-Myers Squibb, Cap Gemini Ernst & Young, Cardinal Health, Cisco Systems, EMC Documentum, Dow Jones, Financial Times, Hewlett-Packard, Home Depot, Lotus, Kaiser Permanente, META Group, SAP, Siemens, the State of California, Stellent, Sybase, the U.S. Departments of Energy and Justice, and the U.S. Army.
The statements in this press release regarding Verity providing additional new solutions for the taxonomy creation process are forward-looking statements. These statements are subject to risks and uncertainties, including the risk that the new solutions will not be finished or delayed due to unexpected technical difficulties. This and other risks relating to Verity and its business and products are set forth under the caption "Risks Relating to Our Operations" in Item 2 of Verity's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on April 12, 2004.
For more information, contact Verity at info@verity.com or at World Wide Web site http://www.verity.com or call 408-541-1500.
Verity and the Verity logo are registered trademarks or trademarks of Verity, Inc.
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