Press Release
- Date:
- Wednesday, October 08, 2003
- Contact:
- David Peikin
- Phone:
- (301) 918-0818
- Email:
- G1@schwartz-pr.com
Group 1 Recognizes the Principal Financial Group
As Winner of Inaugural
"DOC1 Innovator of the Year" Award
Principal Financial Group Achieves Significant Returns From DOC1-Generated Mutual Fund Statements
Lanham, MD — Group 1 Software (Nasdaq: GSOF) announced today that Principal Financial Group of Des Moines, Iowa is the first winner of the DOC1 Innovator of the Year Award. The Principal Financial Group has been recognized for its significant achievements using the document generation functionality of the DOC1 suite. Group 1's DOC1 suite gives businesses complete control of the document lifecycle, from content design, generation, and archiving to web presentment and electronic payment. The Principal Financial Group is a leading global financial institution offering businesses, individuals and institutional clients a wide range of financial products and services. The company serves more than 13 million customers worldwide. DOC1 users judged the nominations and selected the winner at the DOC1 User Group Meeting, held in conjunction with Group 1's 2003 Users Conference, July 30 to August 1 in Washington, DC. The Principal Financial Group won the award based on the demonstrated improvements in productivity, customer service, and financial returns from its utilization of DOC1, as well as its incorporation of advanced barcode functionality. The Principal Financial Group uses DOC1 software to design and generate over 17 million statements annually.
“Our goal for this application was to reduce high printing, inserting and mailing costs by moving outsourced production back in-house,” said Laura McCormick, IT System Analyst-Lead, the Principal Financial Group. “Using DOC1, we brought an entire document process in-house and estimate saving $250,000-$500,000 per year in printing and handling costs, with the majority benefiting Principal Mutual Funds shareholders.”
“The Principal Financial Group, a DOC1 customer for more than three years, has always been an innovative user of DOC1,” said Alan Slater, President of Group 1's DOC1 Division. “The Principal was one of the first companies to roll out a full color, customer-friendly statement that used personalized messages and high-impact pie charts and graphs. We're pleased to recognize the Principal Financial Group as this year's DOC1 Innovator of the Year. We look forward to recognizing other DOC1 customers with this award in the coming years.”
About Group I Software Group 1 Software (Nasdaq: GSOF) is a leading provider of solutions that help over 3,000 organizations worldwide maximize the value of their customer data. Group 1 provides industry-leading technologies that allow businesses to cleanse and enrich their corporate data, generate personalized customer communications and integrate and deliver data across the enterprise. These technologies are essential components of enterprise applications including customer relationship management (CRM), enterprise resource planning (ERP) and business intelligence systems. Founded in 1982 and headquartered in Lanham, Maryland, Group 1 offers solutions utilized by leaders in the financial services, banking, GIS/mapping, retail, telecommunications, utilities, insurance and other industries. The company's customer base includes such recognized names as Charles Schwab, Entergy, GEICO, L.L. Bean, QVC, Siemens, Wal-Mart and Wells Fargo. For more information about Group 1, visit the company's Web site at http://www.g1.com.
About the Principal Financial Group The Principal Financial Group“ (The Principal“) is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance and mortgage banking through its diverse family of financial services companies. More employers choose the Principal Financial Group for their 401(k) plans than any other bank, mutual fund, or insurance company in the United States1. A member of the Fortune 500, the Principal Financial Group has $128.0 billion in assets under management2 and serves some 14.8 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit http://www.principal.com.