WESTPORT, Conn., May 15, 2006 (PRIMEZONE) -- Good news for institutional asset managers comes in the form of an announcement today by John A. Laurino, CEO of Proposal Software, Inc. Laurino announced a major enhancement in his company's leading edge proposal management software Proposal Management and Production System (PMAPS(r)), Financial Edition v2006. PMAPS is now integrated with eASE Exchange, a powerful tool used by asset managers to streamline the burden of updating consultant databases with asset, performance, characteristics, and other requested data.
Developed by eVestment Alliance, eASE Exchange is customized software that translates and transmits requested company data to populate third-party or consultant databases. "What's compelling is that most of our eASE Exchange clients approached us, which goes to show that money managers have a serious need for this product," said Vince Bakshani, vice president for data automation services at eVestment Alliance.
By synchronizing eASE Exchange with PMAPS, the same data transmitted to consultants is automatically updated in PMAPS, the database used by the asset managers' proposal teams to respond to RFPs. This synchronization insures the consistency and integrity of data reported by the firm, regardless of target.
"The ramifications of this for the asset manager are enormous," said Laurino. "Besides being a major time saver, this integration of the two platforms insures quality control. It also has huge value to compliance officers who monitor and must approve any kind of information or data reported by financial firms."
Integration of the two systems has been successfully beta tested at the Hartford, Conn.-based Phoenix Investment Partners. With $50.5 billion under management, Phoenix Investment Partners has since 2005 used eASE Exchange to regularly update 21 outside databases.
Phoenix has also used PMAPS Financial since 2005, when the firm switched over from another proposal management platform that was not serving its needs. According to Wayne Zorger, senior proposal writer at Phoenix Investment Partners, "Our old proposal application was an outdated system. We needed to find a system that would save time and improve the efficiency of turning around RFPs. PMAPS Financial definitely was the right choice for doing that."
Said Zorger, who in 2005 alone responded to close to 100 RFPs, and who regularly has several RFPs in the pipeline at one time, "Besides being a huge time saver, linking PMAPS data with eASE Exchange data offers excellent control.
"The last thing you want to happen when you respond to an RFP is to have a Subject Matter Expert review it and find an old answer that they had updated the last time they reviewed an RFP. PMAPS has really cut that down. With so many people reviewing RFPs now -- compliance officers, Subject Matter Experts -- you really need to keep those answers current."
Added Zorger, "By linking PMAPS with eASE Exchange, we have a much better feeling about the quality of the data being reported. The bottom line is, we know we are using the most up-to-date information when responding to RFPs -- because it is guaranteed to be the same data reported by the firm to outside databases."
According to Laurino, proposals are increasing in frequency while becoming more complex. "We continually focus on improving the productivity of our clients. Synchronizing PMAPS with eASE Exchange is a major step forward in increasing the value of both of these important new business related software platforms to financial industry organizations."
About Proposal Software, Inc.
Westport, Conn.-based Proposal Software, Inc. provides the "best in class" comprehensive proposal management platform, PMAPS(r). Clients include leading financial services, healthcare, investment management and a wide cross-section of Fortune 1000 corporations. Clients include Blue Cross Blue Shield of Massachusetts, Blue Alternative Asset Management, ING Investment Management, Merrill Lynch, Baring Asset Management, AAM-Investment Management, Fred Alger Management, and the WellPoint family of healthcare companies. Additional information on PMAPS(r) is available at www.proposalsoftware.com
The Proposal Software, Inc. logo is available at http://www.primezone.com/newsroom/prs/?pkgid=2590
About eVestment Alliance
Headquartered in Atlanta, Ga., eVestment Alliance (eA) (www.evestment.com) is an innovative, web-based provider of comprehensive investment information and analytic technology. Through its online eASE Database, eA captures the most comprehensive dataset in the industry and distributes all information via its fully web-based eASE Analytics system. eA's powerful eASE Exchange system addresses the industry's redundant data request problems by automating the transformation and precise update of manager data to multiple databases. Clients include leading investment consultants, asset managers, plan sponsors and other financial organizations.