Oppenheimer Capital Controls Paper Chase Using Process Enablement Solution From LAVA Systems Inc.

Integration of document management, imaging, fax and workflow technology will help leading investment management firm handle growth

Toronto, ON - 1998-05-21 - ...LAVA Systems Inc. (TSE:LVA) today announced that it had signed a contract with Oppenheimer Capital to automate the business processes and document management of this leading investment management firm's Wrap Account Group. LAVA will install a complete knowledge management solution, including workflow software, document management and imaging applications, to support the Wrap Group's varied transaction types (account creation and maintenance, cash additions, withdrawals, tax-driven trades and others).

"We will deliver new product families - LAVA Business Process Enabler(TM) and LAVA Knowledge Management System(TM) - in Q3 1998. These will provide a quantum leap for enterprises frustrated by the lack of industry-specific solutions that take advantage of their existing technology investments. LAVA will supply clear returns on investments that result in our clients gaining competitive advantage," said Peter Hamilton, President and CEO of LAVA Systems Inc.

"Our Wrap Account Department has been very successful in providing an exceptional level of service to 17 brokerage firms and the demands on our people to quickly find, retrieve, distribute and store vast amounts of incoming and outgoing paper has increased tremendously, and will undoubtedly grow as we grow," said Sharon Highland, Senior Vice President, Oppenheimer Capital. "This situation made it imperative that we automate the management and business processes that are driven by our paper-based transactions, using LAVA's scalable, feature-rich system."

"This contract is an important milestone in LAVA's drive into the U.S. financial services market. LAVA's Knowledge Management System and Business Process Enabler products can accommodate Oppenheimer's current requirements and future enhancements, such as building transaction-specific applications," said Rob Terry, Chief Operating Officer of LAVA Systems Inc.

ENABLING KNOWLEDGE WORKERS

The initial goal for the system is to provide centralized, electronic storage of and access to Wrap Account department information assets for knowledge workers dispersed across several buildings. Information will be captured through a combination of document scanning, fax integration and the creation of an index system to manage the archives.

Further knowledge enablement will be provided by LAVA products including computer-output to laser disc (COLD) and application design through the LAVA Business Process Enabler and LAVA Knowledge Management System products.

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