ADP ICS is offering this program industry-wide and is excited about its rapid growth and acceptance. Bob Schifellite, Senior Vice President of ADP ICS comments, "Through the use of electronic delivery, financial institutions enhance service levels, issuers reduce costs, investors receive more timely information and the environment benefits via paper reduction. Once again, ADP ICS illustrates its commitment to utilize the Internet for the benefit of all our constituents. This premier service is a win for everyone." The electronic delivery program is available to both beneficial and registered shareowners through customized broker, mutual fund and corporate sites.
The significant growth realized over the past year is due in part to ADP ICS’ e-delivery sweepstakes that ran during this past proxy season. This one-time promotion was launched to support the introduction of the new service. Included in proxy materials distributed to investors was information on the sweepstakes. Participation was simple – sign up for electronic delivery and you were automatically entered for a chance to win a monthly prize of $5,000 and the final, grand prize of $50,000. The cost of the sweepstakes was completely funded by ADP ICS. "The sweepstakes demonstrated our commitment to product leadership through the Internet," said Michael Marcigliano, Vice President of the Internet Initiatives Group for ADP ICS. "Our goal is to double the growth rate in the next year."
The grand prize of $50,000 was recently awarded to Mr. Michael Cooperman and his wife, Maria Schiff who hold an account with Merrill Lynch. The money was presented to the couple in Massachusetts. "Electronic delivery just made perfect sense. It saves time and money and it’s good for the environment" according to Mr. Cooperman.
To utilize this service, an investor clicks on his/her financial institution and enters his/her account number along with additional information, such as his/her email address. Once enrolled, as investor materials become available electronically, the investor receives an email containing the web address where the documents are available and is able to access the information by simply clicking on the link. For materials that are not electronically available, the investor continues to receive paper mailings.
Over the past four years, ADP ICS has focused on the development of its clicks and mortar strategy combining ADP’s infrastructure strengths with the Internet. Our premier abilities to provide customer service, print capabilities and distribution are unparalleled in the industry, allowing ADP ICS to be a single source solution.