For Immediate Release

Celent Communications Illustration Vendor Study Points To Satisfied Novinsoft Clients

Port Perry, ON, Canada July 19, 2004

Novinsoft Inc., a leading developer of Illustration Systems, was one of the eight illustration system vendors whose functionality, technology, and services were profiled in detail in the recently released reports by Celent Communications – North American Illustration Vendors: 2004 and Insurance Illustrations: A Necessary Evil Becomes A Competitive Differentiator.

The overview report identifies five trends that will drive decision making around illustrations for the next two to three years, including: an emphasis on vendor-based components over totally-custom systems; continued slow migration to Web-based systems; growing interest in common calculation engines; slow consolidation on vendors that provide more robust capabilities, and; improved integration across all new business functions.

Craig Weber, author of the report, says, “Reference clients liked Novinsoft’s custom development approach and their relationship management skills. Celent expects Novinsoft to continue to take a leadership role in the Canadian illustrations market.”

About Celent

Celent is a research and consulting firm focused on the application of information technology in the global financial services industry. Founded in 1999 by veteran financial services technology analysts, Celent is an independent, self-financed, and profitable firm dedicated to providing unbiased information and advice to financial services firms. For more information, please visit www.celent.com

About Novinsoft

Founded in 1993, Novinsoft is a leading developer of illustration systems, needs analysis, sales concepts, and wealth management sales modules for the Canadian financial services industry. For more information, please visit www.novinsoft.com.

Contact Information
Neil Menear,
Novinsoft Inc.
905-985-8546
nmenear@novinsoft.com