Cambridge, Mass., July 21, 2003 - Endeca, the only provider of Guided Navigation and advanced search solutions, today announced that global asset management firm MFS, a member of the Sun Life Financial group of companies, has selected Endeca for a custom solution featuring advanced search and Guided Navigation for dynamic and intuitive access to retirement plan and participant data that will change knowledge workers’ expectations about how fast and easy it can be to find critical business information.
MFS manages more than $127 billion in assets on behalf of over 6 million investors*. MFS wanted a solution that would allow their employees to quickly search and analyze a wide variety of plan and participant data. Using integrated search and Guided Navigation from Endeca, employees will be able to precisely refine and further explore information. Bridging and connecting existing applications and systems, the Endeca solution will provide a dynamic navigation experience across multiple data sources with an easy-to-use interface that will build valuable new relationships within the data and unlock its value - making employees more productive, responsive and able to make smarter decisions.
MFS will use Endeca's unique Guided Navigation and advanced search, together with added analytics and reporting functionality, to enable workers and plan administrators to monitor contribution levels, portfolio trends and fund performance and make decisions based on information revealed in a new analysis system. This new system, powered by Endeca, will allow MFS to navigate and search the complex plan management information of MFS' diverse client base of leading companies and organizations.
"We chose Endeca for its unique ability to make our data more usable and help our users succeed by fully incorporating search and analytics with navigation options," said Brendan Nolan, Senior Vice President of Technology for MFS Retirement Services Inc. "The new Endeca solution will help us achieve our goal of allowing our Client Administrators to directly handle requests for custom reports and information coming from our corporate customers while also allowing us to provide the most up-to-date information for better, more efficient and accurate decision-making."
With Endeca, MFS will be able to classify and categorize retirement plan and participant data, so it is easy for employees to locate specific data. With Guided Navigation, employees will be able to search by keyword and then refine various categories of documents pertaining to their queries.
"This Endeca custom solution will provide MFS with a rich set of coordinated tools to explore and analyze their plan data and business information," said Steve Papa, CEO and founder of Endeca. "With the help of Guided Navigation, employees will be able to intuitively and accurately access information, analyze that information, and turn that information into results for their clients."
Endeca's Guided Navigation with advanced search solutions help businesses across a variety of sectors including retail, financial services, manufacturing, information publishing and business-to-business with applications that address the information overload problems associated with content, catalog and enterprise information access and retrieval. Endeca solutions are built on innovative technology that makes it possible for the first time to offer Guided Navigation and advanced search on structured and unstructured information with high performance, and low total cost of ownership, even at massive scale.
*As of June 30, 2003
About Endeca
Endeca offers innovative advanced search and 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 retail, financial services and business-to-business companies like Barnes & Noble, Putnam Investments, and Arrow Electronics. 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 search results every time. This technology can be applied across a wide-range of enterprise and customer applications including Customer Relationship Management (CRM) analytics, catalogs, directories, search and portal integration. Endeca is a privately held company headquartered in Cambridge, MA and is backed by leading venture capital firms including Ampersand Ventures, Bessemer Venture Partners and Venrock Associates. Endeca is an IBM Advanced Business Partner and is a preferred provider of IBM’s WebSphere Commerce Group. For more information, please visit www.endeca.com or email us at info@endeca.com.
About MFS
MFS is a global asset management firm with investment offices in Boston, London, Tokyo and Singapore. The company origins date back to 1924 when it invented the mutual fund. The company managed more than $113 billion in assets on behalf of 6.2 million investors worldwide as of December 31, 2002. MFS is a member of the Sun Life Financial group of companies, itself a leading financial services organization headquartered in Toronto, Canada, with operations in key markets around the world.