SOURCE: Proposal Software

September 15, 2005 17:00 ET

UK Investment Firm, Baring Asset Management (BAM), Adopts PMAPS® for Proposal Management

WESTPORT, CT -- (MARKET WIRE) -- September 15, 2005 -- The UK-based global investment management company Baring Asset Management has successfully implemented Proposal Management and Production System (PMAPS®) Financial 2004. PMAPS® Financial 2004 is Proposal Software, Inc.'s comprehensive proposal management solution for investment managers.

"The deployment of PMAPS® by this highly respected 243-year-old investment management firm is an important testimony to the platform's adaptability to the complex demands of a major global enterprise," said John A. Laurino, CEO of Proposal Software, Inc.

Baring Asset Management is a global investment management company that manages $35 billion on behalf of clients around the world. Founded in 1767, the firm offers a wide range of equity and fixed income products in both domestic and international markets, through both mutual funds and segregated accounts.

Baring Asset Management is part of the MassMutual Financial Group, a global, diversified financial services organization. Massachusetts Mutual Life Insurance Company (MassMutual) is one of the largest life insurance businesses in the USA.

According to Sarah Styles, who heads up consultant communications at BAM, a key factor in the firm's choice of PMAPS® was the software's ability to simultaneously manage and track proposals in various global locations. Baring Asset Management currently has RFP and RFI writers in three of its 11 global locations -- London, Boston, and Tokyo.

"One of the major problems we had with our previous proposal management software, is that it could not cope with multiple locations," she said. "Valuable information was 'going to waste' because it was not accessible to proposal teams in our other offices.

"We definitely needed something that would allow us to share work among proposal writers in all of our global locations."

PMAPS® also satisfied BAM's requirement that new software be low maintenance.

Finally, Styles pointed out that PMAPS® provided a significant cost advantage for BAM, with its decentralized distribution of proposal teams. "With PMAPS®, one master license allows the software to be used by an unlimited number of company locations from one central server in London."

With PMAPS® fully implemented so far in only its U.S. and London offices, BAM has already experienced an increase in efficiency of RFP and RFI turnaround, said Styles.

Styles cited the BAM's proposal teams' enthusiasm for PMAPS®'s tracking capabilities, user friendliness, and ease of training:

"Everyone finds it especially helpful to view the PMAPS® 'dashboard,' which tracks how many RFPs are in the pipeline at any one time, and where they are located. And one day of training let us cover the bases and get started."

Originally developed in 1994 and currently in its ninth generation, PMAPS® was developed for companies which must continually respond to a high volume of sophisticated, major account RFPs and RFIs under tight deadlines in order to maintain their sales momentum. The tenth generation is on schedule for release in the first quarter of 2006.

Styles said that BAM's proposal teams are looking forward to fully implementing the platform in all of the company's locations: "We're finding that the more you use it, the more you can find out what it can do for you."

About Baring Asset Management

Baring Asset Management is a global investment management company that manages £18.5 billion / US$35.0 billion / Euro 26.9 billion on behalf of clients located around the world. Founded in 1762 by Sir Francis Baring, the firm emerged as London's pre-eminent merchant bank by early 19th century. Today the company offers a wide range of equity and fixed income funds to private clients and charities in both domestic and international markets, through mutual funds and segregated accounts. Additional information about Baring Asset Management is available at www.baring-asset.com

About Proposal Software, Inc.

Proposal Software provides the 'best in class' comprehensive proposal management platform. Clients include leading financial services, healthcare, investment management and a wide cross-section of Fortune 1000 corporations including Blue Cross Blue Shield of Massachusetts, Blue Alternative Asset Management, ING Investment Management and WellPoint family of healthcare companies. Additional information is available at www.proposalsoftware.com

Contact Information

  • Contact:
    John Laurino
    Proposal Software, Inc.
    (203) 226-1600
    Email Contact

    Jessica Bram
    Jessica Bram Communications
    (203) 227-3250
    Email Contact