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Integration Technology Improves Compliance and Customer Service for Banking and Finance SectorsCUPERTINO, Calif. --(Business Wire)-- Aug. 29, 2005 -- A recent survey(1) of senior IT executives with direct responsibilities for legacy systems reveals most IT departments in the financial services sector fully understand less than half of their legacy systems for auditing and reporting purposes, and most disclose that the majority of those systems are considered mission-critical. In addition, more than half the firms admitted that developing an efficient IT governance strategy was not possible without effective visibility of legacy applications, but that the complexity of legacy applications impacted their ability to comply with industry regulations. The banking and finance industries store an estimated 80 percent of critical corporate information on mainframes. Visibility into these legacy systems is poor because the data resides in disconnected silos built on applications and business systems that were not designed to interoperate. Access to disparate data throughout the entire enterprise in a consolidated, real-time view would vastly improve regulatory compliance for issues like Sarbanes-Oxley. Efficient access to legacy information is also essential to help financial professionals react quickly to changing markets and opportunities. Decision-makers require the delivery of information about customers and business development in an accurate, timely and concise format that can be analyzed with a single glance. NetManage (NASDAQ:NETM) finance and banking solutions enable a single view into customer and business information by rapidly transforming complex corporate applications into extremely user-friendly interfaces that immediately boost productivity. The integrated and reliable information overview provides access to market data that is required to cross-sell and develop new products and services. With NetManage, IT departments can also integrate disparate enterprise-wide systems that result from mergers, acquisitions and rapid growth. NetManage products include: RUMBA(R), software to access host information from any desktop or managed client; OnWeb(R), software to leverage enterprise applications in new Web-based business initiatives; and Librados(TM) Adapters, used to accelerate and reduce the cost of enterprise application integration. OnWeb Mobile delivers information from both host and non-host systems to any mobile application in real time. NetManage products and solutions can make the enterprise perform more efficiently, improve regulatory compliance, boost operations and most importantly, serve the customer better. (1) "The Cost of Compliance," sponsored by Loudhouse Research, polled 60 senior financial sector IT professionals with direct responsibility for legacy applications in April and May 2005. About NetManage NetManage, Inc. (NASDAQ:NETM) is a software company that provides solutions for accessing, Web enabling and integrating enterprise information systems. More than 10,000 customers worldwide, including 480 of the Fortune 500, rely on NetManage for mission critical application integration. For more information, visit www.netmanage.com. (C) 2005 NetManage, Inc., its subsidiaries, and its affiliates. All rights reserved. NetManage, the NetManage logo, the lizard-in-the-box logo, RUMBA, OneStep, ViewNow, SupportNow, Librados, and OnWeb are either trademarks or registered trademarks of NetManage, Inc., its subsidiaries, and affiliates in the United States and/or other countries. All other trademarks are the property of their respective owners. This press release contains, in addition to historical information, forward-looking statements that involve risks and uncertainties, including statements regarding improvement in the Company's competitive position, improvement in financial results and business pipeline, the Company's positioning in its market, and the progress and benefits of the Company's execution on its business plan. The Company's actual results could differ materially from the results discussed in the forward-looking statements. The factors that could cause or contribute to such differences include, among others, that competitive pressures continue to increase, that the markets for the Company's products could grow more slowly than the Company or market analysts believe, that the Company is unable to integrate or take advantage of its acquisitions successfully, or that the Company will not be able to take advantage of growth in the Company's target markets. Additional information on these and other risk factors that could affect the Company's financial results is included in the Company's Annual Report on Form 10-K, Forms 10-Q, Forms 8-K and other documents filed with the Securities and Exchange Commission. |
