REDWOOD SHORES, Calif., June 23 /PRNewswire-FirstCall/ -- (OTC Bulletin Board: CICI) Communication Intelligence Corporation ("CIC") the leading supplier of electronic signature solutions for business process automation in the financial industry and the recognized leader in biometric signature verification announced today the results of a recent Aberdeen research study published by Aberdeen Group, a Harte-Hanks Company. In March and April 2010, Aberdeen conducted research for a benchmark study involving 472 organizations, including 67 companies currently deploying electronic signature technology.
"A key challenge facing businesses today is achieving cost effective sales growth in the face of a constricted economy following the 2009 recession," stated Peter Ostrow, Aberdeen Group's Research Director for Sales Effectiveness. "And recent research we conducted confirms that the users of electronic signature technology out perform non-users in key areas that significantly and positively impact the achievement of cost effective sales growth. For instance, users of electronic signatures were 50% more likely than non-users to show year over year improvements in customer renewal rates, 41% more likely to reduce proposal error rates and 18% more likely to shorten their sales cycles. The research confirmed improved results for users leveraging electronic signatures in many other key area as well."
"As the leading supplier of electronic signature technology to the financial industry we recognize the competitive challenges that banks, insurers, brokerage firms and others in the financial industry face, most recently exacerbated by the financial market meltdown, which significantly reduce their income from investment sources," stated Guido DiGregorio, CIC's Chairman & CEO. "For years we have experienced the significant improvements that our technology delivers by enabling enterprises to achieve their revenue growth objectives cost effectively. We do that by significantly compressing the sales cycle and significantly reducing expenses associated with generating and delivering paper documents including the virtual elimination of rework due to errors and omissions.
"In addition, revenue is increased by enhancing the customer experience and customer satisfaction which improves the acquisition and retention of customers and cross-selling efforts as well. In essence, our technology enables legal and regulatory compliant electronic transactions in 1/3rd the time and at 1/3rd the cost of paper based transactions. We are delighted to participate in this independent research, with the Aberdeen Group, and appreciate the contributions the findings make in providing such specific validation of the various and many metrics that electronic signature technology improves, resulting in the achievement of cost effective sales growth."
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Communication Intelligence Corporation ("CIC") is the leading supplier of electronic signature products to the Financial Industry and the recognized leader in biometric signature verification. CIC enables companies to achieve truly paperless workflow in their eBusiness processes by providing multiple signature technologies across virtually all applications in SaaS and fully deployed on-premise delivery models. CIC based solutions afford Straight Through Processing (STP) which increases revenue by enhancing the customer experience and significantly reduces costs through paperless, virtually error free electronic transactions together with significant business cycle compression.
Financial Industry leaders including AGLA, Allstate, American Family, Charles Schwab, JP Morgan Chase, Nationwide (UK), Prudential, Snap-on Credit, Travelers, Wachovia, Wells Fargo and WFG (World Financial Group) chose CIC's products to meet their needs. CIC has deployments with over 400 channel partners and enterprises worldwide representing millions of end users. CIC sells directly to enterprises and through system integrators, channel partners and OEMs. CIC is headquartered in Redwood Shores, California and has a joint venture, CICC, in Nanjing, China. Fore more information, please visit our website at http://www.cic.com
About Aberdeen Group, a Harte-Hanks Company
Aberdeen provides fact-based research and market intelligence that delivers demonstrable results. Having queried more than 30,000 companies in the past two years, Aberdeen is positioned to educate users to action: driving market awareness, creating demand, enabling sales, and delivering meaningful return-on-investment analysis. As the trusted advisor to the global technology markets, corporations turn to Aberdeen for insights that drive decisions.
As a Harte-Hanks Company, Aberdeen plays a key role of putting content in context for the global direct and targeted marketing company. Aberdeen's analytical and independent view of the "customer optimization" process of Harte-Hanks (Information – Opportunity – Insight – Engagement – Interaction) extends the client value and accentuates the strategic role Harte-Hanks brings to the market. For additional information, visit Aberdeen or call (617) 854-5200, or to learn more about Harte-Hanks, call (800) 456-9748.
Forward Looking Statement
Certain statements contained in this press release, including without limitation, statements containing the words "believes", "anticipates", "hopes", "intends", "expects", and other words of similar import, constitute "forward looking" statements within the meaning of the Private Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors which may cause actual events to differ materially from expectations. Such factors include the following (1) technological, engineering, quality control or other circumstances which could delay the sale or shipment of products containing the Company's technology; (2) economic, business, market and competitive conditions in the software industry and technological innovations which could affect the Company's business; (3) the Company's inability to protect its trade secrets or other proprietary rights, operate without infringing upon the proprietary rights of others or prevent others from infringing on the proprietary rights of the Company; and (4) general economic and business conditions and the availability of sufficient financing.
CIC, its logo and the Power to Sign Online are registered trademarks. All other trademarks and registered trademarks are the property of their respective holders.
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