Fleetboston Financial (NYSE:FBF)
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FleetBoston Financial Executive Wins MicroStrategy's Individual Excellence Award
MCLEAN, Va., Feb. 11 /PRNewswire-FirstCall/ -- MicroStrategy(R) Incorporated ,
a leading worldwide provider of business intelligence software, today announced
that it has selected Michael Caron, a Director in Business Development and
Strategy at FleetBoston Financial , as winner of MicroStrategy's Individual
Excellence in Business Intelligence award. Michael Caron was recognized today
at MicroStrategy World 2004 in Miami, Florida.
FleetBoston Financial, a diversified financial services company with assets of
$197 billion, offers a comprehensive array of financial solutions to over 18
million individual, corporate, and institutional customers. A MicroStrategy
customer since 1998, FleetBoston Financial has deployed MicroStrategy
enterprise-wide to anchor multiple, high-value business intelligence
applications.
With Mr. Caron's guidance and leadership, these applications have had
significant bottom-line benefits for Fleet. One of these applications, BI 2.0,
provides a comprehensive view of Fleet's commercial customers and represents the
backbone of the bank's analytical CRM strategy. Deployed through a portal
environment, MicroStrategy provides Fleet's 2,000 relationship managers,
portfolio managers and business analysts with detailed revenue, expense, and
profitability information. This business intelligence portal is integrated into
the workflow of Fleet's Seibel sales force automation solution. This
consolidated customer view has helped drive a 21 percent increase in sales
productivity.
Further, Fleet's use of business intelligence to improve campaign design and
direct marketing has increased cross-sell revenues and products used per
customer 14 and 16 percent, respectively.
The benefits of using MicroStrategy to access, analyze, and share information in
Fleet's enterprise data warehouse are recognized throughout the company. Fleet
has seen positive change and product gains in its sales management process, as
well as improvements in product cross-sell, especially across different lines of
business as the velocity of referrals increases. Mr. Caron has also worked
across divisions at Fleet to improve the use of business intelligence in the
transaction approval and pricing processes, making available customer
information in a way that reduces handling time and makes managers more
efficient.
"I'm very honored to receive MicroStrategy's Best Practices In Business
Intelligence Individual Excellence award," said Michael Caron. "MicroStrategy's
capabilities have enabled us to achieve real cost-savings and revenue growth.
This award is a reflection of the hard-working and talented group of
professionals that work with me everyday to maximize the benefits of the
MicroStrategy platform. I accept this individual excellence award on behalf of
my great team, and thank MicroStrategy for this honor."
"Our customers can achieve significant improvement in their businesses with
MicroStrategy's technology; however, Michael Caron has exhibited exceptional
distinction, defined leadership and innovation in business intelligence software
deployment," said MicroStrategy's COO Sanju K. Bansal. "With over 20 years of
experience in information technology, Michael Caron has played a critical role
in deploying MicroStrategy's business intelligence platform at Fleet and is
helping make it a smarter, more proactive company."
About FleetBoston Financial
FleetBoston Financial (NYSE:FBF)(BSE:FBF), a diversified financial services
company with assets of $197 billion, offers a comprehensive array of financial
solutions to over 18 million individual, corporate, and institutional customers.
Products and services are available through a variety of channels including
1,460 stores and more than 3,400 ATMs from Maine to Pennsylvania, HomeLink(SM)
online banking, and telephone banking. Fleet is the leading small business and
commercial banking provider in the Northeast and a premier provider of financial
services to selected industries nationwide.
About MicroStrategy Incorporated
Founded in 1989, MicroStrategy is a worldwide leader in the increasingly
critical business intelligence software market. Leading Fortune 2000 companies
are integrating MicroStrategy's industrial-strength software into virtually all
facets of their businesses. The MicroStrategy Business Intelligence
Platform(TM) distills vast amounts of data into vital, probing insight to help
drive cost-efficiency, productivity, customer relations andrevenue-generation.
MicroStrategy offers exceptional capabilities -- excellent scalability, powerful
analytics, user-friendly query and reporting features and an outstanding,
easy-to-use Web interface. Top companies are using MicroStrategy to
cost-effectively harness large, multi-terabyte databases; empower thousands of
employees at all operational levels; and extend the benefits of business
intelligence enterprise-wide and beyond to customers, partners and suppliers.
MicroStrategy has over 2,500 enterprise-class customers, including General
Motors, Best Buy, Lowe's Home Improvement Warehouse, Yahoo!, Visa International,
Wells Fargo, Telecom Italia, AT&T Wireless Group and Aventis. MicroStrategy also
has relationships with over 500 systems integrators and application development
and platform partners, including IBM, PeopleSoft, Sun, HP, and Teradata, a
division of NCR. MicroStrategy is listed on Nasdaq under the symbol MSTR. For
more information or to purchase or demo MicroStrategy's software, visit
MicroStrategy's Web site at http://www.microstrategy.com/.
MicroStrategy, MicroStrategy 7, MicroStrategy Business Intelligence Platform,
MicroStrategy Report Services, and MicroStrategy 7i are either trademarks or
registered trademarks of MicroStrategy Incorporated in the United States and
certain other countries. Other product and company names mentioned herein may be
the trademarks of their respective owners.
This press release may include statements that may constitute "forward- looking
statements," including its estimates of future business prospects or financial
results and statements containing the words "believe," "estimate," "project,"
"expect" or similar expressions. Forward-looking statements inherently involve
risks and uncertainties that could cause actual results of MicroStrategy
Incorporated and its subsidiaries (collectively, the "Company") to differ
materially from the forward-looking statements. Factors that could contribute to
such differences include: the ability of the Company to implement and achieve
widespread customer acceptance of its MicroStrategy 7i and MicroStrategy Report
Services software on a timely basis; the Company's ability to recognize deferred
revenue through delivery of products or satisfactory performance of services;
continued acceptance of the Company's products in the marketplace; the timing of
significant orders; delays in the Company's ability to develop or ship new
products; market acceptance of new products; competitive factors; general
economic conditions; currency fluctuations; and other risks detailed in the
Company's registration statements and periodic reports filed with the Securities
and Exchange Commission. By making these forward-looking statements, the Company
undertakes no obligation to update these statements for revisions or changes
after the date of this release.
CONTACT: Marc Brailov of MicroStrategy Incorporated, +1-703-770-1670, or
DATASOURCE: MicroStrategy Incorporated
CONTACT: Marc Brailov of MicroStrategy Incorporated, +1-703-770-1670, or
Web site: http://www.microstrategy.com/