Envision Financial Systems Achieves Level 4 CMMI Certification

Assessment by KPMG Gives Envision Highest Level of Certification for Transfer Agency System Providers

TUSTIN, CA. February 14, 2006 — Envision Financial Systems, the award-winning software company for the financial industry, announced that it had reached a key milestone in its capabilities by being assessed at the Software Engineering Institute (SEI) Capability Maturity Model® Integration (CMMI) Level 4. The certification was achieved on schedule after a rigorous assessment of Envision’s global offices by an appraiser team from KPMG, and gives Envision the highest certification for any transfer agency systems providers.

In the US, only approximately 8% of software organizations are rated CMM Level 4 or higher, putting Envision in elite company. CMMI is a rigorous way to assess and describe an organization's software development process, compare it against industry standards and help the organization refine and improve that process. In recent years, CMMI has gained greater attention as a means to ensure software quality.

The assessment included over 6,500 observations, approximately 145 person days investment in the assessment, documentary evidence, interview sessions with 72% of the organization and the CMMI Appraisal Questionnaire (CAQ). In addition to assessing ongoing projects in Envision, including conversion projects and research and development efforts, major areas such as the Requirements Team, Design and Development, and Quality Control were assessed.

“We’re pleased to announce that our year-long effort throughout the entire organization worldwide has reached its fruitful conclusion,” said Satnam Gambhir, President of Envision. “In an industry where quality and accuracy are absolutely critical, we’ve taken the necessary steps to ensure that the software we develop will be of the highest quality.”

Within each of the CMMI maturity levels, key processes are defined in five areas: goals, commitment, ability, measurement and verification. CMMI developers have defined a rigorous method to assess how well an organization meets the goals of each level.

CMMI has been developed as an iterative process that is repeated by the company as often as is necessary in order to improve its performance and the quality of its products.

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