CAMBRIDGE, Mass. - April 8, 2002 - Endeca, the leading provider of Guided Navigation solutions, today announced that Commonwealth Financial Network, a leading investment brokerage firm, is implementing Endeca’s new business intelligence solution powered by the Endeca Navigation Engine. Endeca’s proprietary Guided Navigation functionality and advanced query and reporting capabilities will allow Commonwealth to quickly and easily navigate through more than 50 million online records and provide a true multi-dimensional view of the data. This solution will enable Commonwealth to leverage their enterprise information in an entirely new way, and help them to quickly access data, identify trends, adjust goals and make better business decisions.
Commonwealth Financial Network provides clearing, business, and investment management resources to a national network of more than 800 independent financial consultants. Endeca’s business intelligence solution will help them evaluate and better understand information regarding brokers in their network, as well as their brokers’ clients.
"In order to maximize the value of our information assets, we knew we needed a way to easily navigate, deliver, and analyze vast amounts of data," said Ed Bell, CIO of Commonwealth Financial Network. "Endeca’s browser-based solution is the right choice, because it enables us to get up and running quickly and make real use of our information. The technology allows us to closely analyze our data and then take the appropriate action."
"Leading financial services companies like Commonwealth are often burdened by stores and stores of data that are largely out of reach for the employees who need them" said Steve Papa, CEO of Endeca. "We are pleased that Commonwealth selected Endeca to help them achieve their information delivery goals and ultimately meet their objective of leadership in providing state-of-the-art business intelligence technology to their employees and their industry. This partnership further advances Endeca’s goal of helping enterprises turn complex data into actionable information."
Endeca business intelligence solutions are the first to fully integrate Guided Navigation and search with a zero-training user interface that enables powerful and extremely fast multi-dimensional queries across huge data stores. Endeca's business intelligence solutions are focused on the business user's need to better understand the information contained in the data, for the first time allowing enterprises to allow a wide base of busines users to have an interactive dialog with massive data sets. Unlike rigid and notoriously complex current generation business intelligence technologies, Endeca’s Guided Navigation approach allows end users to select and re-select attributes, thereby enabling exploration and discovery that leads to better decision-making. Endeca lets users view, slice, and drill down through any data dimension in any order, and lets them zoom in instantly from aggregate views down to the most granular underlying records, regardless of the scale and complexity of the underlying data. Endeca combines search, navigation, and analytics by putting the results of each query in a precise context that tells users exactly how they can refine and explore further.
Endeca solutions help businesses across a variety of sectors like financial services, retail and business-to-business with applications that address the information overload problems associated with content and catalog management, business intelligence and enterprise information access.
About Endeca
Endeca offers innovative Guided Navigation information delivery solutions for companies who need to integrate, discover, and navigate enterprise data to solve the business problems associated with information overload. Endeca technology is already at work for leading financial services companies like Putnam Investments, and is powering TowerRecords.com and IHS Engineering, the leading worldwide provider of technical standards, specifications, logistics and parts information. Endeca solutions empower users to explore and discover relevant relationships in data and find accurate and precise results with unprecedented speed. Patent-pending algorithms provide a scalable, Web-based infrastructure for data exploration, leading to highly relevant and meaningful results every time.
Endeca technology can be applied across a wide-range of enterprise and customer applications including Customer Relationship Management (CRM) analytics, catalogs, directories and portal integration. Endeca solutions unlock the value in enterprise data and help businesses increase productivity, make better and faster decisions, and improve overall employee and customer satisfaction. Endeca is a privately held company headquartered in Cambridge, MA with sales offices in Boston, Chicago, Denver, New York, San Francisco, Washington DC and London and is backed by leading venture capital firms including Ampersand Ventures, Bessemer Venture Partners and Venrock Associates. For more information, please visit www.endeca.com or email us at info@endeca.com.
About Commonwealth Financial Network
With principal offices in Waltham, Mass., and San Diego, Ca., Commonwealth Financial Network is an investment brokerage firm that provides clearing, business, and investment management resources to a national network of over 800 independent financial consultants. Commonwealth had year 2001 revenues of $169 million and has recorded a 50 percent annual average growth in revenues since its founding in 1979. In addition to providing a wide range of services and access to a full spectrum of financial and investment products, the company offers a variety of practice development services and distinguished experts to support business growth. Investment Advisor magazine has selected Commonwealth as national Broker/Dealer of the Year five of the last six years. (Web site: www.commonwealth.com )