AUTONOMY PROCESS AUTOMATION HELPS BAIRD ACHIEVE PRODUCTIVITY AND EFFICIENCY GAINS
Leading Wealth Management Firm Reduces Paper Processing Time by 75 Percent and New Client On-Boarding Process Time By 70 Percent
Cambridge, UK and SAN FRANCISCO - July 20, 2010 - Autonomy Corporation plc (LSE: AU. or AU.L), a global leader in infrastructure software for the enterprise, today announced that Robert W. Baird & Co. (Baird) has significantly enhanced its operational efficiency and employee productivity with the implementation of Autonomy Process Automation. With Autonomy's unique ability to understand the content of the documents, Baird has transformed its traditional paper-intensive client on-boarding process into an automated, electronic one. As a result, the company has been able to reduce its paper processing time by 75 percent within the first six weeks of implementation. Baird's new client on-boarding process time has also been reduced by 70 percent.
Baird is an employee-owned, international wealth management, capital markets, private equity and asset management firm with offices in the United States, Europe and Asia. Established in 1919, Baird has more than 2,400 associates serving the needs of individual, corporate, institutional and municipal clients. Baird oversees and manages client assets of more than $75 billion.
Traditionally, when Baird establishes a new client relationship, the private wealth management team would have to obtain their new client's paperwork and manually input the data into a content management system. The on-boarding process touches critical line-of-business systems, regulatory compliance, and a company's intellectual capital. This was a very time-consuming and labor-intensive process.
Now with Autonomy Process Automation, Baird is able to rapidly transform all new client paperwork into digital data, bringing control, security, and visibility into every step of the on-boarding process. As a result, Baird is now able to manage double the volume without increasing staff, delivering significant cost savings to the company.
"Autonomy Process Automation allows our company to operate with the speed and agility we need to provide superior service to our clients. Autonomy delivers ease-of-use and flexibility that allow us to easily manage our form packets in an environment that is constantly changing," said Scott Hanson, First Vice President of Baird. "Prior to the deployment of Autonomy Process Automation, our users had to search for the documents needed to facilitate our transactions, or they would have to follow up with the client to get additional documents signed. Now, they can gather all of the necessary forms for the client with the click of a button. We are very pleased with the Autonomy product's performance, scalability and security capability."
Autonomy Process Automation addresses the need in complex eForms and Information Processing implementations to manage forms and documents as packets or a case. With Autonomy's unique ability to understand the content of the documents, data within a packet are able to dynamically exist as either standalone entities or as part of a collection depending upon real-time conditions that are automatically detected. This allows packets to be acted upon in the same manner that individuals are accustomed to, but with the underpinning of completely secure and automated processes. Users are guided through the process using an intuitive wizard or table of contents-type director to ensure completion at each step.
"Autonomy Process Automation has the unique ability to deliver intelligence to customers' business processes, guiding a user through the process while verifying corporate compliance. It proactively assists the user in following corporate compliance policies and eliminates the idle time between stages and errors that characterizes traditional manual paper processes," said Sean Sullivan, CEO of Autonomy Cardiff. "The power of Autonomy Process Automation is most apparent when automating complex processes, such as those in financial services, where information is often very dynamic and needs to be acted upon in parallel. Autonomy delivers comprehensive tools to help customers automate its complex business processes, while ensuring compliance and full transparency in real-time."
Baird is an employee-owned, international wealth management, capital markets, private equity and asset management firm with offices in the United States, Europe and Asia. Established in 1919, Baird has more than 2,400 associates serving the needs of individual, corporate, institutional and municipal clients. Baird oversees and manages client assets of more than $75 billion. Committed to being a great place to work, Baird ranked number 11 on FORTUNE's "100 Best Companies to Work For" in 2010 - its seventh consecutive year on the list. Baird's principal operating subsidiaries are Robert W. Baird & Co. in the United States and Robert W. Baird Group Ltd. in Europe. Baird also has an operating subsidiary in Asia supporting Baird's private equity operations. For more information, please visit Baird's Web site at http://www.rwbaird.com/.
About Autonomy
Autonomy Corporation plc (LSE: AU. or AU.L), a global leader in infrastructure software for the enterprise, spearheads the Meaning Based Computing movement. It was recently ranked by IDC as the clear leader in enterprise search revenues, with market share nearly double that of its nearest competitor. Autonomy's technology allows computers to harness the full richness of human information, forming a conceptual and contextual understanding of any piece of electronic data, including unstructured information, such as text, email, web pages, voice, or video. Autonomy's software powers the full spectrum of mission-critical enterprise applications including pan-enterprise search, customer interaction solutions, information governance, end-to-end eDiscovery, records management, archiving, business process management, web content management, web optimization, rich media management and video and audio analysis.
Autonomy's customer base is comprised of more than 20,000 global companies, law firms and federal agencies including: AOL, BAE Systems, BBC, Bloomberg, Boeing, Citigroup, Coca Cola, Daimler AG, Deutsche Bank, DLA Piper, Ericsson, FedEx, Ford, GlaxoSmithKline, Lloyds TSB, NASA, Nestlé, the New York Stock Exchange, Reuters, Shell, Tesco, T-Mobile, the U.S. Department of Energy, the U.S. Department of Homeland Security and the U.S. Securities and Exchange Commission. More than 400 companies OEM Autonomy technology, including Symantec, Citrix, HP, Novell, Oracle, Sybase and TIBCO. The company has offices worldwide. Please visit www.autonomy.com to find out more.
Autonomy and the Autonomy logo are registered trademarks or trademarks of Autonomy Corporation plc. All other trademarks are the property of their respective owners.
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