For Immediate Release
Contact: Sandra Gillis
INSCI Corp
508-870-4205
WESTBOROUGH, MA - May 1, 1996---INSCI Corp (NASDAQ: INSI), a leading U.S. supplier of client/server based COLD and electronic printing systems, today announced the sale of its high performance document archival, retrieval, and distribution system to Piper Jaffray Companies Inc. of Minneapolis, Minnesota. The order is valued at nearly $400,000 and furthers INSCI's already significant penetration in the brokerage and financial services industry.
Piper Jaffray Companies will provide 2000 headquarters and branch employees with on-line access to computer generated statements, 1099's, and broker-dealer reports using network attached Windows PC's and 3270 terminals. New account agreements and W-4s will be scanned, indexed, compressed and archived for retrieval and viewing on Windows PC's. The system being implemented is INSCI's Advanced COINSERV and COINSCAN integrated Computer Output to Laser Disk (COLD) and imaging software suite. The system is expected to have a rapid payback due to reduction or elimination of microfiche and paper, and improvement in employee efficiency and customer service.
Piper Jaffray Companies is taking advantage of the superior Hierarchical Storage Management (HSM) features of Advanced COINSERV to provide users with optimum retrieval performance of both computer data and scanned images across magnetic and optical media. Documents will be first archived to magnetic repositories and maintained there during their high retrieval life, then moved automatically to lower cost optical media for long term archive and retrieval. Users are able to retrieve from magnetic or optical store seamlessly and without knowledge of location.
“We are proud to add Piper Jaffray Companies to our list of prestigious securities industry customers who are creating new standards for customer service and cost effectiveness with our flagship products” commented Jim Matteson, Vice President of Sales and Marketing for INSCI.
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Piper Jaffray Companies Inc. was founded in 1895 and has built a growing reputation as one of the nation's premier full-service investment companies. Piper Jaffray Companies Inc. is the parent company of Piper Jaffray Inc.-- an investment firm with 79 retail sales offices in 17 Midwest, Mountain, Southwest and Pacific Coast states. Piper Jaffray also has capital markets offices in 15 other cities. Other subsidiaries include Piper Capital Management Incorporated -- a money management company with approximately $9 billion under management; and Piper Trust Company -- a provider of trust services to individuals and institutions. Piper Jaffray Inc. is a member of the New York Stock Exchange and other major stock exchanges. For more information about Piper Jaffray Companies, visit its home page on the Internet at http://www.piperjaffray.com.
INSCI Corp develops, markets, and supports client/server electronic printing and document management software utilizing optical disk and CD storage technology to index, archive, retrieve, and distribute computer-generated documents and scanned images including statements, reports, invoices, and transaction data. INSCI also sells print-on-demand software for the automated document factory market. The Company provides customers with an extensive range of system integration and consulting services based upon its expertise in integrated output management, electronic printing, print-on-demand, data storage, data warehousing and data mining. The Company is headquartered in Westborough, Massachusetts. For more information about INSCI Corp, visit its home page on the Internet at http://www.insci.com.
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