--PUBLICITY NEWS----
PRINCETON FINANCIAL SYSTEMS JOINS THE ASP INDUSTRY CONSORTIUM
PRINCETON, N.J., Sep 30, 1999 /PRNewswire via COMTEX/ -- Princeton
Financial Systems, provider of the PAM(R) family of investment
management systems, has joined the rapidly growing Application Service
Provider (ASP) Industry Consortium. The consortium is an international
advocacy group dedicated to fostering greater understanding of and
guidelines for the fast-emerging Application Service Provider segment
of the software industry.
ASPs provide software applications to multiple organizations from a
centralized data center via the Internet or other wide area networks.
The ASP delivers fully supported "software on demand" to any desktop,
without the overhead associated with installing and maintaining the
application in-house. ASPs are responsible for providing and
maintaining the application, operating the data center, installing
hardware and software upgrades, guaranteeing adequate system resources
(memory, disk space, etc.), performing backups, and providing disaster
recovery. This enables firms to concentrate on their core business
rather than on supporting applications software.
Princeton Financial Systems is taking a lead role in the ASP movement
by being the first investment management system vendor to join the ASP
Industry Consortium. The firm also offers its own ASP option called
PAMConnect(TM), which allows institutional investors to utilize
Princeton Financial's PAM(R) investment management applications on an
outsourced basis.
The Massachusetts-based ASP Industry Consortium has grown quickly since
it was launched last May at Networld+Interop in Las Vegas. Founded with
25 original members, the group has grown to more than 130 firms. The
consortium will sponsor research, foster standards and work to educate
the marketplace about the benefits of the evolving ASP delivery model.
"By offering PAMConnect, we have given our clients full access to a
world recognized investment system without the worries associated with
securing and maintaining the infrastructure needed to support such a
system," says Jim Houghton, Princeton Financial Systems' Senior Vice
President of Product Management. "We have joined the ASP Consortium to
reinforce our commitment to become the leading application service
provider to the investment management community."
The founding members of the ASP Industry Consortium include AT&T;
AristaSoft; Boundless Technologies; Cisco Systems; Citrix Systems;
Compaq Computer; Cylex Systems; Ernst & Young; Exodus Communications;
FutureLink Distribution; GTE; Great Plains Software; IBM; Interpath
Communications; JAWS Technologies; Marimba; Onyx Software; SaskTel;
Sharp Electronics; Sun Microsystems; The Taylor Group; Telecomputing
ASA; UUNET; Verio, and Wyse Technology.
Princeton Financial Systems, Inc., an independent subsidiary of State
Street, is the leading provider of n-tier Windows NT-based portfolio
accounting and management systems for institutional investors
worldwide. Its PAM investment systems are used by more than 300
investment managers, mutual funds, insurance companies, pension funds,
and banks. The company is headquartered in Princeton, NJ, USA with
offices throughout the United States and in London, Sydney, Toronto,
Brussels, and Frankfurt. More information about Princeton Financial
Systems can be found on the Internet at pfs.com.
Information on the ASP Industry Consortium is available on the World
Wide Web at aspindustry.org.
SOURCE Princeton Financial Systems
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