BROADWAY & SEYMOUR TO INVEST IN TWO STRATEGIC INITIATIVES.CHARLOTTE, N.C.--(BUSINESS WIRE)--March 15, 1995--Broadway & Seymour, Inc., the premier provider of information technology solutions to the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. marketplace, today announced it will invest an incremental Additional or increased growth, bulk, quantity, number, or value; enlarged. Incremental cost is additional or increased cost of an item or service apart from its actual cost. $3.0 million in 1995 to pursue two strategic initiatives it views as having high earnings and growth potential. While some cash expenditure has already been invested in these initiatives, the Company reported that additional 1995 expenditures to develop and successfully market these products may result in up to a $0.12 reduction in the Company's 1995 earnings per share, which will be reflected in the first quarter of 1995.. The first initiative is to offer the Company's AMtrust product, presently used by 14 of the nation's largest banks for asset management and trust processing, on a service bureau basis. Currently, AMtrust's target market is the top 50 trust banks, or those with discretionary assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. of more than $6 billion. Broadway & Seymour Chief Executive Officer, William W. Neal, commented, "While we will continue to sell several new licenses per year and provide on-going support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services , this effort with the very largest banks provides us with great credibility in dealing with the next tier of banks. Expanding to this market tier will more than double our market potential and in no way will diminish our focus on the top tier of banks which has been so successful for us." Mr. Neal continued, "This offering, when coupled with our top tier offering and our acquisition this quarter of BancCorp and its product for community banks, will give us a trust offering for any size bank. When we add our 401(k) and investment products from Corbel corbel Block or brick partially embedded in a wall, with one end projecting out from the face. The weight of added masonry above counterbalances the cantilever and keeps the block from falling out of the wall. across this entire spectrum, we clearly have a unique opportunity." The second initiative involves developing a new item and image processing image processing Set of computational techniques for analyzing, enhancing, compressing, and reconstructing images. Its main components are importing, in which an image is captured through scanning or digital photography; analysis and manipulation of the image, accomplished product which will help financial institutions improve the efficiency and productivity of their item processing operations. To be marketed as VisualImpact, it will be offered to the Company's customers as early as the second quarter of 1995. Mr. Neal commented, "VisualImpact provides a full suite of advanced-function applications that can be used in traditional as well as image-enabled item processing environments. The flexibility and scalability of the product makes it cost effective for financial institutions that process 25,000 items per day, or even 1 million items per day. VisualImpact supports multi-bank, mulit-transport environments, operates in both local and remote environments, and provides portability across multiple hardware platforms Each hardware platform, or CPU family, has a unique machine language. All software presented to the computer for execution must be in the binary coded machine language of that CPU. Following is a list of the major hardware platforms in existence today. See platform. . It will be announced at the BAI n. 1. a language spoken in the Dali region of Yunnan. Noun 1. Bai - the Tibeto-Burman language spoken in the Dali region of Yunnan Baic show in Atlanta next week." Mr. Neal concluded, "We view these initiatives as essential to maximizing our long-term shareholder value, which has been our mission since inception. This reduction in expected 1995 earnings is a small investment given the targeted reward." Broadway & Seymour is a provider of client-based information technology solutions to the financial marketplace and the professionals who serve that market. It offers products, software development and support, and systems integration outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. . CONTACT: Broadway & Seymour Inc. David L. Durham, 704/344-3214 or Ludgate Communications Erin Burke/Kristin M. Anderson, 212/688-5144 |
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