Austin, TX (PRWEB) October 2, 2006
As part of its broader strategy to facilitate organizations’ move to the FSITrack® unclaimed property application, Financial Software Innovations, Inc. (FSI) announced today the completion of the new FSI Holder System that enables users to move necessary filing data into an automated process. The Holder System, which is now available for all industries, includes both daily updates and state information features.
In addition, FSI announced the immediate availability of new features to the FSITrack® application that include mailing labels, a due diligence letter specific to the state of California, color-coded alerts for negative reporting and electronic filing, and state-specific exemptions (e.g., Business2Business, payroll, and gift certificate exemptions). With the addition of these features, FSITrack® continues to be the unclaimed property software of choice for companies across the U.S.
“Every year, FSI invests more in R&D and focus groups to ensure our customers get the greatest value possible from our applications. Today we are responding to the strong demand from holders using other applications who want to make a transition to a compliance-driven application,” said Brian Cooney, Vice President of Sales and Marketing at FSI. “This announcement is a big step in our overall strategy toward helping these customers make the move to FSITrack® in order to take advantage of our application’s benefits.”
New Application Simplifies Transition
Many organizations are looking for assistance in developing and executing an unclaimed property plan. The new Holder System and updated FSITrack® tools announced today will help customers analyze and address their unique unclaimed property environments.
The tools include the following:
- State-specific Holder System. This system will significantly improve the process of filing the state holder forms required by law within the 54 territories. The Holder System provides a framework for making a painless transition to the FSITrack® application.
- State-specific exemptions. This new feature not only educates holders of the possible
filing exemptions they may take per state laws, but it simplifies the exemptions filing process as well. By implementing these exemptions, holders have the potential to save thousands of dollars each year.
- Color-coded alerts. Building on the success of the FSITrack® application, FSI announced new color-coded alerts, available today, for negative reporting and electronic filing.
- Due diligence letter specific to the state of California. To assist companies with maintaining compliance, a due diligence letter is provided which follows all six requirements as prescribed by California.
“After a thorough analysis of our industry, we recognized that we could significantly cut costs and increase productivity for our clients by replacing their current unclaimed property software and processes with the FSI Holder System solution,” said Corky Cootes, Vice President of Unclaimed Property Division at FSI.
In addition, the FSI Holder System fills a need for organizations and provides a complementary solution to the existing FSITrack® application. “Over the past eight months we have seen a definite trend of larger organizations choosing to move from an outdated unclaimed property application to FSITrack®,” said Brian Cooney. “Customers are looking for a way to quickly and seamlessly move to a compliance-driven unclaimed property application, and FSI is happy to provide solutions that help them meet that need.”
FSI will continue to deliver new solutions to help these customers make the transition to the FSITrack® application. The company recognizes its customers’ desire to build and customize an unclaimed property application according to their needs, and FSI will continue to address this issue in the coming months.
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