SOURCE: CapitalStream, Inc.

April 26, 2005 09:07 ET

Siemens Financial Services Upgrades to CapitalStream's FinanceCenter 8

The Latest Front Office Automation Platform Improves Efficiency and Shortens Response Time While Broadening Siemens Financial Services' Product Offering

SEATTLE, WA -- (MARKET WIRE) -- April 26, 2005 -- CapitalStream Inc., a leader in front office automation solutions for commercial finance operations, today announced Siemens Financial Services Inc. (SFS) has upgraded to FinanceCenter 8, CapitalStream's complete front office platform for automating commercial and equipment finance operations from origination through credit, documentation, funding, booking and account management. SFS is a captive finance company servicing the Siemens family of companies in the U.S. as well as external corporate clients, providing an extensive range of financing solutions primarily for mid to large ticket customers. SFS has implemented FinanceCenter 8 in North America, in keeping with its international goals for improved operating efficiencies and accelerated growth.

"FinanceCenter 8 integrates our front office functions by tying together people, process and information so we are more responsive, efficient and competitive. Our improved operational capabilities should allow us to rapidly increase our business as we continue to expand our product lines in our core markets," said Richard Kershaw, senior vice president, Siemens Financial Services. "The success of the project is due in large part to CapitalStream's dedicated and knowledgeable executive and project management team who paid close attention to our needs and objectives throughout the project."

With FinanceCenter 8, SFS is able to improve response times since transactions can be electronically delivered from vendors both inside and outside of Siemens and automatically routed through pricing, credit, funding and booking. FinanceCenter automatically retrieves the necessary information for a particular deal, eliminating redundant data entry and the wasted time spent looking for information. Dispositioned deals instantly flow to documentation and completed documents can be electronically transmitted to the vendor and end user. Less human intervention results in lower cost and faster cycle times.

"As one of our longest standing customers, Siemens Financial Services invested early in automation and established themselves as a true leader in equipment finance by investing in technology to gain competitive advantage," said Kevin Riegelsberger, president and CEO of CapitalStream. "With this upgrade to FinanceCenter 8, Siemens again distances themselves from their competition by integrating information and workflow so that sales, credit and operations can collaborate easily, share information instantly, and respond immediately back to the customer."

FinanceCenter 8 provides a flexible, integrated workflow and process management engine that can be configured easily to match evolving business needs. As SFS broadens the scope of its business, FinanceCenter will manage the appropriate steps, assignments and policy controls for each line of business, type of product and size of relationship -- from high touch, low volume relationships to low touch, high volume small ticket lending or leasing. With FinanceCenter, SFS' front office team can enter, maintain, view and analyze all customer, contract, credit and asset information instantly using a Web browser. Integrated information means that front office personnel can access customer, exposure, rate, credit history, asset, balance, contract and other information easily.

About CapitalStream

Established in 1995, CapitalStream™ provides software and consulting services that enable commercial banks and finance companies to collaborate, integrate and operate more effectively across their front office operations. CapitalStream solutions streamline data gathering, deal structuring, credit analysis, document generation, booking, account monitoring and ongoing risk management to more effectively originate transactions and manage commercial relationships. CapitalStream transforms the paper-based operations of mid market, small business, equipment leasing and commercial real estate groups by reducing costs, risk and processing times to grow their portfolios without increasing headcount. For more information, visit us at

About Siemens Financial Services

With some 1,600 employees and an international network of financial companies coordinated by Siemens Financial Services GmbH, Munich, the Siemens Financial Services (SFS) Group offers a broad range of financial services. This covers activities from sales and investment financing to treasury services, fund management and insurance brokerage. SFS' key customers are above all internationally active industrial and services companies, as well as public-sector operators. SFS supervises 21 leasing companies worldwide. Further information:

Siemens Financial Services, Inc. is one of Siemens' operating companies in the United States. The people of Siemens Financial Services, Inc. build relationships to deliver customized commercial financing solutions. SFS is led by industry veterans who work to ensure quick, quality financing. With expertise in Asset-Based Lending, Equipment Financing, Commercial Trade Finance and Vendor Financing, each transaction is tailored to fit the specific borrowing needs of the client.

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