New York Life Investment Management Implements Disaster Recovery Strategy with Document Management14 Apr, 2005
New York Life Investment Management Implements Disaster Recovery Strategy with Document Management
Branford, CT – April 13, 2005 - New York Life Investment Management LLC (NYLIM) and its affiliates provide a wide range of investment services to institutional, individual, corporate, public, and Taft-Hartley clients, including institutional asset management, retail investments, retirement services, guaranteed products, real estate investments, and alternative investments.
NYLIM was looking to implement a disaster recovery strategy in order to protect the company’s millions of business-critical files and documents. NYLIM’s primary objective was to ensure uninterrupted customer service in the wake of an unforeseen event, which is all too real in today’s world.
Westbrook Technologies reseller InfiNet Business Systems (IBS) developed the strategy to convert NYLIM’s paper-based file system into a digital document management application using Westbrook’s Fortis document management software suite. IBS further increased efficiency through custom development services that allowed Fortis to share data with NYLIM’s primary database applications.
Stephen Young, Vice President of Sales for InfiNet Business Systems, said, “Our goal is to minimize the level of redundant data entry within our clients’ operations by providing a means for data exchange. Our strength is in customizing standard programs to fit them exactly to the needs of our clients,” Young added.
“Initially, NYLIM’s primary objective was to ensure uninterrupted customer service in the wake of an unforeseen event,” said NYLIM Vice President Jim Kucharski. “However, through this project we also improved document access, increased efficiency and reduced file management costs.”
Eighty five thousand contract and participant files representing one million pages were converted into the system. File retrieval time went from five minutes per file to instantaneous access through the use of Fortis. In addition, the 1,000 square foot file room has been converted to usable space for other business functions.
With the monumental success NYLIM has experienced with Fortis, the Company will continue to convert additional documents electronically and further expand use of the software in other areas.
ABOUT WESTBROOK TECHNOLOGIES
Westbrook Technologies provides document management solutions to businesses of all sizes that need to maintain their competitive edge. The Company develops document management (Fortis and File Magic), Web-imaging (Fortis PowerWeb), ERM and workflow (Fortis Inflo) software in use at thousands of customer sites in 50 countries. Businesses across every vertical market depend on our comprehensive content management solutions, and use them to capture, index, store and retrieve their critical information from anywhere - instantly and securely.
Based in Branford, Connecticut, the Westbrook Technologies team has provided superior product education, consulting services and software support since 1990. Our superior software technology, unparalleled professional services and commitment to maintaining and expanding our global leadership in information management are what drive our success. For more information, log on to http://www.westbrooktech.com or call (800) WHY-FILE.
ABOUT INFINET BUSINESS SYSTEMS
With over 40 years of combined experience in the field of Electronic Document Management, InfiNet Business Systems has established itself as a leading business solutions provider to large and small businesses alike. Through its commitment to client focused project management, InfiNet Business Systems has been built on its strength as an end to end provider of document and content management solutions. By integrating these solutions into accounting, customer relationship and other back office applications, InfiNet Business Systems has provided it clients with access to business critical documents from virtually anywhere on their network. With this strategy InfiNet Business Systems has successfully enabled its clients in the medical, financial, insurance, manufacturing and distribution verticals to lower their operating costs and achieve greater organizational efficiencies. For more information, visit the InfiNet Business Systems web site at www.infinet-sys.com
ABOUT NEW YORK LIFE INVESTMENT MANAGEMENT
With more than $180 billion in assets under management as of September 30, 2004, New York Life Investment Management LLC and its affiliates provide a wide range of investment services to institutional, individual, corporate, public, and Taft-Hartley clients, including institutional asset management, retail investments, retirement services, guaranteed products, real estate investments, and alternative investments. For more information, visit the New York Life Investment Management LLC site at www.nylim.com.