Softlab Inc. Announces Contract with The Principal Financial Group for Maestro II Implementation

Softlab Inc., a leader in application maintenance solutions, has announced a contract with The Principal Financial Group, one of the largest insurance companies in the U.S., for a company-wide implementation of Maestro II. The Principal will begin with an initial installation of 80 workstations in its Information Systems (IS) Group Application Area, with plans to implement the solution on a corporate-wide basis after a successful completion of the first 80 workstations. Softlab's Maestro II aims to provide an infrastructure for large-scale, team-based maintenance activities in legacy mainframe software, allowing companies to gain greater control over their maintenance processes by integrating people, process, data, and technology.

Key Takeaways:

• Softlab Inc. has signed a contract with The Principal Financial Group for a company-wide implementation of Maestro II, with an initial installation of 80 workstations in the Information Systems (IS) Group Application Area.
• The Principal Financial Group's objectives for the implementation include a significant reduction in the required time to complete application fixes, perform maintenance work, and develop and deliver new and enhanced products.
• Softlab's Maestro II is a maintenance and redevelopment solution targeted at the insurance, financial, and telecommunications industries, providing an infrastructure for large-scale, team-based maintenance activities in legacy mainframe software.
• The Principal Financial Group is a diversified family of insurance and financial services companies with over $47 billion in assets under management, serving 8.7 million customers.
• Softlab Inc. is a leading developer and marketer of maintenance and redevelopment solutions, ranked among the top 50 software companies in the world, and is a wholly owned subsidiary of prestige auto manufacturer BMW.
• The implementation of Maestro II is expected to provide The Principal Financial Group with greater control over its maintenance processes and improve efficiency in application maintenance.

Statistics:

• 8.7 million: Number of customers served by The Principal Financial Group (Source: The Principal Financial Group)
• $47 billion: Assets under management by The Principal Financial Group (Source: The Principal Financial Group)
• 80: Number of initial workstations to be installed by The Principal Financial Group as part of the initial implementation of Maestro II (Source: Softlab Inc.)
• 50: Ranking of Softlab Inc. among the top software companies in the world (Source: Softlab Inc.)

Sources:

• Softlab Inc. News Release, February 27, 1995 (Source: BUSINESS WIRE)