May 03, 2005 09:00 ET

Financial Services Industry Becomes Top Market Segment for's On-Demand Collaboration Solution Boosts Productivity and Cuts Costs Across Financial Services Industry

BURLINGTON, MA -- (MARKET WIRE) -- May 3, 2005 -- (, the world's leading provider of on-demand collaboration services, announced today that the financial services industry has become one of the company's leading market segments with approximately 10% of its 9,000 customers falling in this category. Using the service, hundreds of banks, credit unions and financial services firms from across the country are achieving business productivity goals, streamlining operations, and meeting sales objectives, among many other activities.

" gives us a central hub where we can post important company announcements, schedule meetings, manage project tasks and track every step of a client transaction to ensure there are no bottlenecks in our pipeline," said Daniel Friess, COO at World Family Financial, a growing financial services firm with more than 120 agents nationwide. "The ability to share information 24x7, all online, has really fueled company growth. Today, 50% of our employees work remotely and is absolutely essential to keeping everyone up-to-date and moving forward."

TEG Federal Credit Union, a member-owned, not-for-profit financial cooperative association uses to improve collaboration in a variety of ways. Specifically, the company uses the service to inform employees about credit union policies and procedures, share financial reports with its board to directors and to manage projects and track inventory.

"With, we have a complete suite of productivity applications designed to help all of our employees work more efficiently," said Joan Zazzaro, IT manager at TEG Federal Credit Union. "We're saving thousands of dollars per year with, not only because we didn't have to build a solution ourselves, but because we don't have to maintain it. We now have a powerful collaboration solution, for a small monthly payment. really pays for itself."

Danversbank, a one-billion-dollar financial institution with 12 full-service locations throughout New England, uses to share financial documents with its board of directors, conduct employee polls and to post important information for employees such as HR policies, procedures, bank forms and compliance regulations.

"We started using in 2003 and its contribution to employee productivity has been substantial," said Cheryl Purinton, Corporate Communications Manager at Danversbank. "Before, workers were emailing each other large documents. Now there's no need for that. provides a central place for us to post and share information, without having to waste time searching through old emails or folders. It is really increasing productivity at our bank, while easing the burden on our email server."

In a matter of minutes, financial institutions can leverage to:

--  Securely share reports with auditors, federal regulators and boards of
    directors - all online.
--  Track and manage customers and sales leads
--  Post daily rate change notifications, policy and procedure
    announcements, compliance regulations and notices for employees to view in
--  Create online databases to track information about competitors or new
    business opportunities.
--  Develop an IT help desk or trouble ticket boards to quickly field
    employee IT questions and requests from anywhere in the world.
--  Post links to information covering insurance, 401k plans and other
    employee benefits information.
--  Conduct employee opinion polls regarding timely issues and events,
    such as training sessions or employee outings.
"Our customers cut a wide swath across a number of vertical industries, but we have an especially high concentration of customers in the financial services sector," said Karen Leavitt, Vice President of Marketing at "These organizations need to share important information such as financial news or the latest compliance regulations quickly and securely. Our solution is easy-to-use, can be accessed from anywhere in real-time, and solves many of the collaboration challenges financial organizations encounter everyday." offers a complete collaboration suite and currently serves 9,000 customers across 250,000 users worldwide. The company's suite includes a document manager, database manager, task manager, online calendar with group scheduling, web and audio conferencing, and many other customizable applications. All of the applications work seamlessly within an integrated browser environment to help any organization work more efficiently online.

To see how other financial institutions are benefiting from visit:

About is the world's leading provider of on-demand collaboration services for small businesses or departments and groups inside large organizations. The company serves more than 250,000 users across 9,000 companies worldwide and offers a secure, web-based collaboration suite to share critical business information quickly and easily at any time from anywhere. Privately held and profitable, is led by an experienced team of software industry professionals who are committed to providing a secure, customizable, easy-to-deploy intranet solution supported by world-class customer service. is a PC Magazine "Editor's Choice" winner and is rated one of the world's "Top 25" leading service providers by ASPNews. The company has also been ranked by the Boston Business Journal as one of the fastest growing private companies in Massachusetts for two years in a row. For more information or to take a FREE 30-day test drive, visit, e-mail or call 888-932-2600 or 781-565-6000.

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