SAN FRANCISCO, Jun 3, 2002 (BUSINESS WIRE) – Department Heads Turn to New Services
Automation Systems to Streamline Processes, but C-Level Executives Yet to Catch Trend A
survey of insurance and banking executives found that virtually all respondents (96
percent) said the ability to provide ongoing cost savings is important in determining
which initiatives receive funding, and 65 percent said such cost savings are “very
important.” Sixty-five percent of respondents also said the ability to increase
efficiency is “very important.”
The findings were part of a nationwide survey conducted by
KRC Research and announced today by Lawson Software (Nasdaq:LWSN) at the Insurance
Accounting and Systems Association (IASA) Annual Conference in San Francisco.
The survey further found that 44 percent of vice presidents
and department heads are already using a form of what Lawson calls Services Automation to
automate internal workflows, including incoming work requests and outgoing information for
chargebacks. Yet only 28 percent of C-level executives said they were using such systems
within their organizations. The disparity suggests there is not yet broad familiarity with the concept.
“According to this survey, nearly nine in ten people
using these early Services Automation systems are satisfied with them, yet the current
generation of Web-based offerings led by companies like Lawson promise much greater
benefits owing to their Web architectures and integration with back-end financial and HR
systems,” said Tony Marzulli, senior vice president of global marketing for Lawson
Software. “In the current economic environment, financial services companies are much
more likely to maximize profits by reducing costs and increasing efficiency. In the end,
it’s all about the service sector and managing the efficiency and effectiveness of
services provided to internal and external customers. We believe Lawson’s SA solution is
the cornerstone companies can use to achieve that end.”
The independently conducted survey also revealed that
respondents with responsibility for internal service departments (legal, IT, marketing,
etc.) believe a greater percentage of their staff expenses should be charged back to the
departments or lines of business using those services. Currently, an average of 42 percent
of those costs are charged back, but respondents say 51 percent should be. Respondents
expressing interest in a Services Automation system indicated an even greater disparity
between what they charge back and what they believe should be charged back.
The Lawson Services Automation solution suite includes
modules to manage services businesses at every point in the business process cycle – from
work initiation, to work delivery, to work measurement. The Lawson SA suite is tightly
integrated to back-office functions like financials and human resources, providing
high-level visibility for real-time decision-making.
Lawson’s proven, industry-focused software solutions enable
financial services organizations to easily integrate the core systems they use to grow
their businesses. These solutions provide financial information and analysis needed to
increase profitability, comply with regulatory and statutory reporting requirements and
meet the demands of the converging marketplace. Lawson financial services customers
include seven of the 25 largest financial companies and three of the top 10 commercial
banks. Lawson solutions also help one customer manage the assets of the world’s largest retirement system.
About the Survey
KRC Research conducted a nationwide survey May 16-29, 2002,
of 200 executives at insurance and banking companies with revenues of at least $100
million. The sample pool included respondents with the following job titles: CXO,
executive vice president, senior vice president, vice president, all departments; as well
as director or manager in finance or accounting departments. The margin of error is +/- 7
percentage points at the 95 percent confidence level.
About Lawson Software
Lawson Software provides mission-critical enterprise
software solutions that help service organizations in the healthcare, professional
services, financial services, retail, public sector and other strategic markets achieve
competitive advantage. Lawson’s proven Internet solutions deliver unprecedented visibility
to drive operational excellence in services automation, human resources, financials,
procurement, distribution and enterprise performance management. Headquartered in St.
Paul, Minn., Lawson has offices and affiliates serving North and South America, Europe,
Asia, Africa and Australia. Additional information about Lawson is available at
www.lawson.com.
