CUPERTINO, CA--(MARKET WIRE)--Sep 2, 2003 -- Chordiant Software (Company
Profile, Past
Stories, Case
Studies), Inc. (NasdaqNM:CHRD - News) today announced the immediate availability of the Chordiant Straight Through Service Processing™ solution for
business process management. Designed for high volume service-driven organizations in retail banking, credit card, insurance, and telecommunications, Chordiant's Straight
Through Service Processing is built on a Services Oriented Architecture that can orchestrate thousands of human-to-human, human-to-system and multiple system-to-
system interactions.
The solution integrates with existing back end operational applications, transactional systems and data stores, and enables the integration of disparate communication and
distribution channels. The solution provides innovation in the creation, management and deployment of business processes, delivers eight new services enabling real time
changes to work, task and event management, and orchestrates process driven applications that are delivered in a role based desktop.
"In most organizations, the majority of the effort and cost of processing occurs after the initial interaction. Simply automating the front office cannot resolve this
problem," said Liz Roche, Vice President, META Group. "Contemporary service organizations require integrated solutions that automate the entire end-to-end
process. Managers need to be able to monitor, control and change how work is being undertaken in order to optimize processing and manage to specific business
goals."
There are four innovations in the new version of Chordiant Straight Through Service Processing:
I. Process Management Control for Business Users
A new process designer shifts the control of the creation, management and improvement of operational business processes from the IT to the business organization.
Business users can develop and execute complex business processes through: push and pull-based work management; exception-based escalations across transactional
systems and users; support for compound tasks; branching logic based on complex business rules; and external linkage and coordination of external workflow
systems.
These capabilities enable the management and change of financial services processes such as multi-product account opening, credit card charge backs, or claim initiation
and processing. They also enable businesses to be more responsive to changing economic and business drivers -- for example, allowing the faster introduction of new
products and programs, being able to respond more quickly to competitive pressures, or providing speedier adherence to new regulations such as the Patriot Act and the
Sarbanes-Oxley legislation -- by being able to change business processes and policies in hours rather than months.
II. Process Driven Applications Orchestrating the Exact Business Process
Chordiant Straight Through Service Processing solution enables business processes to be delivered to users as guided applications based on their roles and skill levels
through a configurable browser-based desktop. Business processes are executed in a browser with appropriate screen flows such that complex procedures are made
simpler by step by step task and work management. This Chordiant capability significantly reduces error rates, training time and operational costs by stepping employees
and agents through business processes as a series of guided interactions. Customer representatives no longer need to know all the organizational processes or procedures;
the system automatically provides everything necessary in a straightforward and timely manner improving the employee and customer experience, reducing churn and
increasing both productivity and satisfaction respectively.
III. Service Oriented Architecture Providing Enterprise Class Capabilities
The overall system is an elegant, state of the art distributed object-oriented J2EE and XML based design called the Chordiant JX Architecture. It includes:
- Infrastructure components such as transaction management, real-
time event management, replication and fail-over, security, and
session management;
- System components such as rules-based decisions, work routing,
multi-media queue management, work flow, and work timing;
- Application components such as full customer profile,
employee/user profile; and
- Business components for retail banking, credit card, insurance,
and telecommunications.
These Chordiant JX Architecture components make possible unique and breakthrough capabilities for enterprise solutions:
(i) Real-time integration with existing back end operational systems, applications and data enables the utilization of existing legacy applications and their data in real-time,
avoiding the problems associated with lazy synchronization of multiple data sources.
(ii) Transactional integrity for all operations interfacing to legacy and back-end systems including read and write, optimistic and pessimistic locking, single- and two-phase
commit, all with single- and multiple-data source spanning.
(iii) Performance and scalability to meet the demanding needs of large, complex enterprises handling the processing of hundreds of million of customer requests. Chordiant's
third generation of its service-oriented architecture is already proven in several large scale production deployments.
IV. Real Time Event Management Enabling the "Real Time Enterprise"
The addition of a real-time event engine that allows Chordiant's Straight Through Service Processing business process management system to publish or subscribe to real-
time transaction or analytic events occurring within active business processes enabling organizations to respond to events in real-time, such as fraudulent activity in banking
or insurance. This capability also enhances business decision making for time-based activities such as situation-appropriate cross-sell opportunities based on real-time
credit card activity and real-time customer interactions in the contact center.
Applications such as creating a single complete representation of customer across all channels and lines-of-business, complex account opening, change of address across
multiple lines-of-business, or managing lost or stolen credit cards are all example capabilities of Chordiant Straight Through Service Processing.
"We are pleased to offer a solution that overcomes the limitations of traditional business applications with an offering that that gives organizations the flexibility to
change business processes in a matter of hours rather than months," said Stephen Kelly, Chordiant's President and CEO. "Chordiant's ability to liberate
business processes, business policies and legacy data provides a unique opportunity to deliver business value on the promise of Business Process Management to realize
substantial reductions in operational costs, increased retention rates and selling opportunities."
Chordiant Straight Through Service Processing and Chordiant 5
At the center of this solution are new releases of the following Chordiant 5 products:
Chordiant 5 Foundation Server version 5.5 provides significant new critical services for complex business process execution, real time event management and business
activity monitoring.
Chordiant 5 Business Process Designer version 5.5 has new enhancements that enable business managers to define, extend and change business processes using a
graphical, intuitive interface.
Chordiant 5 Rules Designer version 5.5 and Chordiant 5 Rules Server version 5.5 enable business users to easily define business policies using a spreadsheet-like interface
with drag-and-drop capabilities. With a single click, business users can ensure that the business rules are logical, consistent, complete and unambiguous and then deploy
them as part of the business process.
Chordiant 5 Tools Platform version 5.5 enables distributed organizations to collaborate more effectively throughout the whole software development and deployment lifecycle.
It provides for system management and change control, business process design and automation, as well as systems integration and deployment based on the industry
standard Eclipse environment.
For more information on these products, please visit -- www.chordiant.com/solutions/stsp.html.
About Chordiant Software, Inc.
Chordiant (NasdaqNM:CHRD - News) solutions automate and manage operational business processes for leading service-driven global organizations in retail finance,
telecommunications and consumer direct industries.
Chordiant orchestrates the unique processes of an organization from the point of customer interaction, through the front and back offices to multiple transactional systems,
corporate applications and data stores. Our solutions integrate existing infrastructure to orchestrate the assembly, enhancement and delivery of optimal role based business
processes to the appropriate channels. Business value is realized through improved employee productivity, savings in operational costs, and increased business
adaptability.
Headquartered in Cupertino, California, Chordiant maintains offices in Boston; Chicago; Mahwah, N.J.; Manchester, N.H.; New York City; London; Paris; Amsterdam; and
Munich.
Safe Harbor
This news release includes "forward-looking statements" that are subject to risks, uncertainties and other factors that could cause actual results or outcomes to
differ materially from those contemplated by the forward-looking statements. Forward-looking statements in this release are generally identified by words, such as
"believes," "anticipates," "plans," "expects," "will," "would," "guidance,"
"projects" and similar expressions which are intended to identify forward-looking statements. There are a number of important factors that could cause the results
of Chordiant to differ materially from those indicated by these forward-looking statements, including, among others, potential difficulties in the assimilation of operations,
strategies, technologies, personnel and products of acquired companies and technologies, the impact of perceived or actual weakening of economic conditions on
customers' and prospective customers' spending on Chordiant software and services; quarterly fluctuations in Chordiant's revenues or other operating results; failure by
Chordiant to meet financial expectations of analysts and investors, including failure resulting from significant reductions in demand from earlier anticipated levels; risks
related to market acceptance of Chordiant's products; customization and deployment delays or errors associated with Chordiant products; impact of long sales and
implementation cycles for certain Chordiant products; reliance by Chordiant on a limited number of customers for a majority of its revenues; Chordiant's need to retain and
enhance business relationships with systems integrators and other parties; Chordiant's use in its products of third-party software; activities by Chordiant and others
regarding protection of intellectual property; and competitors' release of competitive products and other actions. Further information on potential factors that could affect the
financial results of Chordiant are included in risks detailed from time to time in Chordiant's Securities and Exchange Commission
filings, including without limitation Chordiant's Annual Report on Form 10-K and Quarterly Reports filed on Form 10-Q. These filings are available on a Web site maintained
by the Securities and Exchange Commission at www.sec.gov. Chordiant does not undertake an obligation to update forward-looking or other statements in this release.
Chordiant and the Chordiant logo are registered trademarks of Chordiant Software, Inc. All other trademarks and registered trademarks are the properties of their respective
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