Toronto, Canada - February 2, 2006 - ADP Brokerage Services Group, a subsidiary of Automatic Data Processing, Inc. (NYSE: ADP) has won another award for its Smart Prospectus® Solution. Xplor International, the worldwide association of the users and suppliers of the products and services that create, modify and deliver customized information using a variety of document technologies, is honoring ADP as Innovator of the Year for Smart Prospectus.
Xplor International announced the recipients of its 2005 awards at the International Global Document Conference and Exhibit in Miami Beach, Florida. Each year, Xplor International recognizes an individual or organization that has made a significant contribution to the electronic document systems industry. The Innovator of the Year is awarded for development of a new technology that significantly enhances the capabilities of electronic document systems.
ADP's Smart Prospectus Solution is a distributed data processing and digital print application and is the first timely, cost-effective, print-on-demand fulfillment process for delivering mutual fund prospectuses and trade confirmations to investors. The revolutionary Smart Prospectus solution satisfies regulatory delivery timelines using print-on-demand technology. The prospectuses are personalized for investors providing more relevant, compliant material allowing for more informed investment decisions.
Traditionally the fulfilment of prospectuses has been a very manual process requiring receiving, warehousing and shipping of pre-printed prospectuses covering many funds for each mutual fund company. This is a costly, time consuming approach with a by-product of printed material that can quickly become out-of-date.
"Until Smart Prospectus, no one in the industry had been able to electronically collect all relevant inputs to the prospectus process, understand their interrelation and use technology to create a more timely, relevant and compliant output," says Stephen Main of M.R.S. Securities Services Inc. "ADP's solution simplifies our fulfillment obligations, and at the same time delivers more meaningful communication to investors."