The Office of Federal Student Aid is a Performance Based Organization that administers the Student Financial Assistance Programs at the U.S. Department of Education.
The CSB contract will consolidate the Department's direct loan servicing functions, loan consolidation processes and collection activities for $96 billion in student loan obligations. Currently, five separate systems perform the functions that one system will perform under the new contract.
"Federal and state government agencies are choosing MicroStrategy's industrial-strength platform to gain better visibility into their operations and to help make important strategic decisions," said MicroStrategy's COO Sanju Bansal. "We're particularly proud of our expanding relationship with the FSA, which provides such vital services to citizens nationwide."
MicroStrategy's other Federal customers include the U.S. Postal Service, the Centers for Medicare and Medicaid Services, National Institutes of Health, U.S. Census Bureau, Department of Housing & Urban Development, Department of Homeland Security, U.S. Air Force and U.S. Army.
MicroStrategy and the State of Tennessee's Department of Finance and Administration were honored last year with a DM Review World Class Solution Award for a MicroStrategy application that processes and analyzes millions of Tennessee financial records in an efficient manner. This MicroStrategy application has reduced costs and significantly improved the quality of financial information for decision-making by state officials.
About MicroStrategy
Founded in 1989, MicroStrategy is a worldwide leader in the increasingly critical business intelligence software market. Leading Fortune 2000 companies are integrating MicroStrategy's industrial-strength software into virtually all facets of their businesses. The MicroStrategy Business Intelligence Platform(TM) distills vast amounts of data into vital, probing insight to help drive cost-efficiency, productivity, customer relations and revenue-generation. MicroStrategy offers exceptional capabilities -- excellent scalability, powerful analytics, user-friendly query and reporting features and an outstanding, easy-to-use Web interface. Top companies are using MicroStrategy to cost-effectively harness large, multi-terabyte databases; empower thousands of employees at all operational levels; and extend the benefits of business intelligence enterprise-wide and beyond to customers, partners and suppliers.
MicroStrategy has over 2,800 enterprise-class customers, including General Motors, Lowe's Home Improvement Warehouse, Yahoo!, Visa International, Wells Fargo, Telecom Italia, AT&T Wireless Group and Aventis. MicroStrategy also has relationships with over 500 systems integrators and application development and platform partners, including IBM, PeopleSoft, Sun, HP, and Teradata, a division of NCR. MicroStrategy is listed on Nasdaq under the symbol MSTR. For more information or to purchase or demo MicroStrategy's software, visit MicroStrategy's Web site at http://www.microstrategy.com/.
MicroStrategy, MicroStrategy 7, MicroStrategy Business Intelligence Platform, MicroStrategy Report Services, and MicroStrategy 7i are either trademarks or registered trademarks of MicroStrategy Incorporated in the United States and certain other countries. Other product and company names mentioned herein may be the trademarks of their respective owners.
This press release may include statements that may constitute "forward- looking statements," including its estimates of future business prospects or financial results and statements containing the words "believe," "estimate," "project," "expect" or similar expressions. Forward-looking statements inherently involve risks and uncertainties that could cause actual results of MicroStrategy Incorporated and its subsidiaries (collectively, the "Company") to differ materially from the forward-looking statements. Factors that could contribute to such differences include: the ability of the Company to implement and achieve widespread customer acceptance of its MicroStrategy 7i and MicroStrategy Report Services software on a timely basis; the Company's ability to recognize deferred revenue through delivery of products or satisfactory performance of services; continued acceptance of the Company's products in the marketplace; the timing of significant orders; delays in the Company's ability to develop or ship new products; market acceptance of new products; competitive factors; general economic conditions; currency fluctuations; and other risks detailed in the Company's registration statements and periodic reports filed with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
CONTACT: Marc Brailov of MicroStrategy Incorporated, +1-703-770-1670, or mbrailov@microstrategy.com
MicroStrategy Incorporated
© 2004 PR Newswire
