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Acorn Systems Announces The Charles Schwab Corporation's Selection of Acorn Systems Profit Analyzer™ SoftwareHouston, Texas — May 9, 2003 — Acorn Systems announced today that The Charles Schwab Corporation has selected Acorn Systems Profit Analyzer software to replace its "MUSE" costing system. Schwab selected Acorn Systems Profit Analyzer after conducting a rigorous comparison of eight leading Corporate Performance Management (CPM) vendors. CPM vendors were evaluated based upon their ability to analyze millions of transactions and produce critical customer net profitability and cost analysis in a matter of hours. Receiving accurate analysis faster will enable Schwab to react much quicker to market changes and to better serve its clients. With Acorn Systems Profit Analyzer, Schwab, one of the nation's largest financial services firms, will gain an even stronger understanding of how to best leverage the company's cost and profit drivers. Acorn Systems Profit Analyzer will enable Schwab to more precisely identify ways the company can grow revenue and maximize profits while maintaining the company's unmatched customer service. "Acorn Systems Profit Analyzer™ proved itself to have the most advanced costing and profitability analysis feature set of all the solutions we evaluated," said Dave Martin, Senior Vice President and Treasurer of Schwab. "Only Acorn Systems delivers true costing information on each line item of a transaction. This capability will enable Schwab to identify inefficiencies and to operate more cost effectively. It will also help us to better understand the revenue and expense dynamics of our clients and product offerings. Acorn's solution is more advanced, powerful and cost effective than our existing solution or any of the other offerings we examined in our exhaustive selection process. Acorn Systems will enable us to be even better at combining people and technology to keep costs low and the level of service high." Schwab will use Acorn Systems Profit Analyzer to measure its business performance, further enabling the company to:
"Companies that effectively deploy Corporate Performance Management will outperform their competitors," said Lee Geishecker, Gartner, Inc. Research Director. "Indisputably accurate costing information is an increasingly important part of any Corporate Performance Management solution, because it enables managers to plan and budget using business-oriented models that reconcile operations with financial results." "Charles Schwab is a recognized leader in costing and profitability analysis within the financial services industry," said Leland Putterman, CEO, Acorn Systems. "We are very pleased to have the opportunity to work with Schwab to improve their already best in class costing and profitability analysis capabilities and complement their ongoing initiatives." About Charles Schwab About Acorn Systems, Inc.
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