AXA Financial Automates In-house Typesetting with XyEnterprise XML Professional
Press release from the issuing company
READING, MA – July 9, 2001 – Xyvision Enterprise Solutions, Inc. (XyEnterprise), a leading supplier of automated publishing software to the financial services community announced today that The Equitable Life Assurance Society of the US and its parent company, AXA Financial, Inc., have completed their implementation of XyEnterprise’s XML Professional Publisher 7.0 (XPP), a high performance content formatting and publishing application that composes pages from XML/SGML and text source data and outputs high quality results in, PDF, HTML and Postscript formats. This implementation supports AXA’s strategy to reduce costs and improve efficiencies by moving the bulk of its financial services typesetting in-house.
Richard M. Rogers, manager e-publishing division, AXA Financial in New York City, said, "The XyEnterprise system gives an in-house department the ability to output professional work in a very streamlined, cost-effective manner. It’s a product that lends itself not just to the professional typesetter, but also to any in-house department that has a large volume of work that needs to be typeset under very strict standards in a compressed period of time. During our first few months of going live with the system, we typeset as many as 10,000 pages per week, making us as busy as many of the typesetting shops in New York."
Kevin Duffy, President and CEO of XyEnterprise said, "We are proud to be working with The Equitable and AXA Financial, companies that have earned respect throughout the world as leaders in innovative financial services. We are pleased to be able to help AXA streamline its financial services typesetting operation, thereby enabling the company to get its critical information to its clients and prospects in a faster, more cost-effective manner."
In the past, AXA Financial had split its typesetting between an outside financial services company and an in-house staff. Rogers said, "As the product prospectuses grew in number, we reached an economy of scale in which we saw an opportunity to save a considerable amount of money by consolidating all of this work in-house. After investigating the various electronic publishing packages on the marketplace, we chose XyEnterprise’s XML Professional Publisher for three reasons. 1) It was a popular choice among outside financial services printers, 2) It was available in a Microsoft Windows NT platform, and 3) it had an easy-to-use WYSIWYG format."
XyEnterprise’s XPP enables AXA’s product managers to make their final edits in the typesetting environment, rather than having to make edits in a standard word processing environment and then import it into the typesetting environment for final output.
Another key factor in AXA’s decision to implement XyEnterprise XPP was its facility to convert, quickly and easily, from a typeset format to the SEC’s new EDGAR format. Rogers said, "Under our old system, it took us up to 12 hours to produce an EDGAR version of a document, but XPP can deliver a fileable document in minutes. XPP also has the flexibility to deliver documents in either Postscript or PDF formats. By bringing our typesetting in-house, we are saving a significant amount of money, plus it allows for more internal control, quality control, and content control."
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