Transcend Systems will continue to operate from its Sioux Falls, South Dakota offices as a subsidiary of Jack Henry & Associates, offering its affordable CRM solution, Relationship Explorer®, to community financial institutions. Relationship Explorer is available to JKHY customers immediately. Separately, Jack Henry is developing a comprehensive and fully integrated CRM solution through a partnership with privately held ARGO Data Resource Corporation. This product is slated for release at the end of calendar 2002.
"One of the fastest growing technology applications in today's market, CRM solutions provide data and tools for cross-selling, customer tracking, sales management, incentive compensation, profitability analysis and customer satisfaction improvement processes,"said Terry W. Thompson, President. "The Transcend acquisition, coupled with our alliance with ARGO, will provide a full complement of CRM tools for all our customers. We believe CRM products will begin to contribute significantly to our revenues and profits next year (fiscal 2003), and expect they have the potential to contribute $100 million or more to our revenues in the next five to six years."
Jack Henry & Associates, Inc. provides integrated computer systems and processes ATM and debit card transactions for banks and credit unions. Jack Henry markets and supports its systems throughout the United States and has over 2,800 customers nationwide. For additional information on Jack Henry, visit the company's web site at www.jackhenry.com.
Statements made in this news release that are not historical facts are forward-looking information. Actual results may differ materially from those projected in any forward-looking information. Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated by any forward-looking information. Additional information on these and other factors which could affect the Company's financial results are included in its Securities and Exchange Commission (SEC) filings on Form 10-K, and these statements should be reviewed by potential investors. Finally, there may be other factors not mentioned above or included in the Company's SEC filings that may cause actual results to differ materially from any forward-looking information.
