MOUNTAIN VIEW, Calif. (November 17, 1997) -- Netscape Communications Corporation (NASDAQ:NSCP) today announced that AIM Management Group, one of the nation's largest mutual fund companies, is using Netscape Enterprise Server, Netscape Communicator and Netscape Navigator client software for its leading-edge Extranet and for its Intranet scheduled to be deployed later this Fall.
Headquartered in Houston, Texas, AIM Funds currently ranks as the country's 12th largest mutual fund company with approximately $82 billion (as of September 30, 1997) in net assets under management and more than 3.6 million shareholders. The Extranet was designed to help meet the company's challenge to organize and disperse exacting and up-to-the minute account and fund information to its shareholders, provide information to potential investors, and support approximately 250,000 brokers who sell its funds. AIM's site provides general customer information and a protected section for brokers. Prior to the development of the Extranet, these functions were handled exclusively through the company's 500 call centers and 490-person marketing department.
Getting information out to customers is a daunting task. "We have a warehouse stacked to the ceiling with literature. Our call centers handle 10,000 to 20,000 calls a day," said John Deane, chief technology officer for AIM. "While we still use these information channels, we needed alternative means of communicating with our customers."
Because of the sheer volume of information generated, AIM needed especially robust and reliable Internet technology solutions. Working with the experts at Insource Technology Corporation, a Houston-based technology consulting firm, AIM selected Netscape software. "We didn't feel that other products in the marketplace could handle the volume that we anticipated," said Drew Lapsley, senior member of Insource Technology's technical staff. "Another important consideration was the ability to provide SSL security to ensure confidential transaction information and account balance information for users. It terms of its ability to provide us with the robust, stable and encrypted environment we required, we felt that Netscape was the clear choice."
Now, investment representatives may access password-protected sections of AIM's site, which allows users to order sales literature online, get specific information on sales and commissions, retrieve fund manager bios and even listen to current commentary from AIM portfolio managers. Individual AIM fund investors may access the site to review their portfolios, check current account balances and see performance graphics. Soon, users will even be able to review at-a-glance the cost basis of their AIM Fund portfolio, a distinct advantage for tax calculations and streamlining the year-end 1099 forms process.
The unique ability for existing mutual fund shareholders to access real-time information and submit online questions about their accounts in a password- protected format has contributed measurably to AIM's customer satisfaction. The company has found that customers are far more satisfied with the kind of data they can get when the call center is not operational.
"AIM has created an innovative means to augment its communication process effectively through Web-based technology," said Mike Homer, executive vice president of worldwide sales and marketing at Netscape. "Companies using Netscape software solutions for creative applications like this can realize tremendous dividends in customer satisfaction and loyalty."
Using Netscape Enterprise Server's log capabilities, AIM has fine-tuned its tracking systems, noting site visits (defined as sessions and usage as opposed to simple "hits"). They have experienced a tremendous increase in site visits since the site's construction. The site hosted 85,000 visits in August 1997, up from 10,000 in November 1996. Among, non-proprietary mutual funds, the site is one of the most heavily trafficked in the industry.
The company's Intranet site, which has been under development since late summer, is expected to smooth the company's transition to a large, global company since its merger with INVESCO PLC in February. (The merger resulted in AMVESCAP PLC, of which AIM and INVESCO are subsidiaries.) Employees will have full access to data for customer service as well as internal administrative information: marketing data, employee information. Using the cross-platform enabling technologies Netscape software solutions provide, the Intranet is also expected to help unify and allow interoperability among the company's newly-merged 3,500 employees.
Founded in 1976, AIM Management Group and its operating subsidiaries sponsor, market and provide investment advisory services to The AIM Family of Funds. On February 28, 1997 AIM completed a merger with INVESCO PLC, creating AMVESCAP PLC, one of the world's largest independent management groups with approximately $177 billion (as of June 30, 1997) in net assets under management.
Founded in 1992, Insource Technology Corporation is an independent, Houston-based consulting firm that helps businesses apply technologies that support their people, processes and strategies. Focusing on the Houston-area market, Insource serves a broad range of industries and employs experienced specialists in the areas of systems and applications development, computer networking, Internet and Intranet development, and information systems security. Insource can be visited via the Internet at http://www.insource.com
Netscape Communications Corporation is a leading provider of open software for linking people and information over enterprise networks and the Internet. The company offers a full line of clients, servers, development tools and commercial applications to create a complete platform for next-generation, live online applications. Traded on NASDAQ under the symbol "NSCP," Netscape Communications Corporation is based in Mountain View, California.
Additional information on Netscape Communications Corporation is available on the Internet at http://home.netscape.com, by sending email to moreinfo@netscape.com, or by calling 415/937-2555 (corporate customers) or 415/937-3777 (individuals).
Netscape is a trademark of Netscape Communications Corporation, which is registered in the United States and other jurisdictions. The Netscape Communications Corporation logo and Netscape product names are also trademarks of Netscape Communications Corporation, which may be registered in some jurisdictions. All other product names are trademarks of their respective companies.