PrivateBank Selects Artisoft's Software-based Phone System

8/5/2003 - Artisoft®, Inc. (Nasdaq: ASFTC), developer of the first software-based phone system, announced that PrivateBank and Trust has chosen TeleVantage, Artisoft’s award-winning software-based phone system, as their telecommunications solution. Worknet, an Authorized TeleVantage Solution Provider, has implemented this advanced business communications solution in all seven of PrivateBank’s metropolitan Chicago offices, including the headquarters.

Having outgrown the limitations of their existing legacy PBX system, PrivateBank engaged Worknet to examine their requirements and develop recommendations. After analyzing several solutions, Worknet recommended TeleVantage for its robust feature set, ease of maintenance and flexibility.

“TeleVantage offered us the functionality we needed to improve customer service, reduce costs, and simplify administration,” said Andrew Maychruk, Director of Information Technology for PrivateBank. “With TeleVantage, we can manage our telecommunications internally, eliminate inter-office toll charges, and keep pace with our anticipated growth. And this was all done with virtually no disruption to service.”

TeleVantage streamlines communications by seamlessly connecting PrivateBank’s seven offices for a single, integrated phone system. Leveraging Voice over IP (VoIP) functionality, TeleVantage transparently routes calls over the Internet to other remote servers. The bank’s staff can contact co-workers or transfer calls to any location using simple four-digit extensions, thus reducing long-distance toll charges, improving operational efficiency and enhancing customer service.

As a software-based system, TeleVantage enables PrivateBank to integrate the phone system with a variety of other applications, such as contact management system, to increase productivity and improve customer service. Another key component of TeleVantage for PrivateBank was the system’s intuitive graphical desktop interface. With a simple point-and-click, users can visually manage calls and administer their settings, listen to voice mail, transfer or record calls, and set up multi-site conference calls.

”This successful implementation demonstrates our commitment to provide the highest quality service and solutions to the greater-Chicago area,” said Brian Melloy, Vice President of Worknet. “TeleVantage offers tremendous advantages over other phone systems, enabling businesses to improve customer service, increase productivity and save money.”

TeleVantage is an affordable, flexible software-based phone system that combines rock-solid stability with the most advanced communications technology available. Its robust feature set includes intelligent call management, powerful call center, advanced IP telephony, comprehensive messaging, web browser, and graphical desktop call control. Built on an open systems architecture and supported by world-class Intel hardware, TeleVantage enhances customer service, increases productivity and improves the bottom line for a variety of customers, from small offices to large enterprise organizations with sophisticated call centers.

“Enabling businesses to increase productivity, improve customer service and save money are the hallmarks of TeleVantage,” said Steve Manson, president and CEO of Artisoft. “The open-architecture, flexibility and VoIP capabilities make TeleVantage an ideal choice for organizations like PrivateBank who are looking for a communications system that will continue to meet their needs as their business evolves and grows.”

About Artisoft
Artisoft Inc. is a leading developer of open, standards-based telephone systems that bring together voice and date for more powerful and productive communications. Artisoft’s TeleVantage delivers greater functionality, flexibility, and value than proprietary PBXs to a variety of customers, from small offices to large enterprise organizations with sophisticated call centers. The company’s innovative products have consistently garnered industry recognition for technical excellence, winning more than 30 awards. The company distributes its products and services worldwide through a dedicated and growing channel of authorized resellers. For more information, please call 800-914-9985 or visit our website at

About Worknet
Worknet, headquartered in the Chicago area, provides an array of fully managed services specializing in IT infrastructure and applications focusing on three major categories: IT Operations Management, Consulting Services, and Disaster Recovery. The company provides services that span the entire life cycle of data networks and systems that support complex business applications including the architecture, design, security, implementation and support. Worknet completely manages the IT operations from their state of the art data center, which provides hosting services, monitoring services, help desk services, technical support, asset management, and equipment procurement. Their key differentiator is their ability to provide totally integrated service from the desktop to LAN to the Internet to security to the server environment in their data center. In 2001, Worknet received INC. Magazine’s award for being one of the fastest growing privately held firms in America.

About PrivateBancorp, Inc.
The PrivateBank and Trust Company is a unit of PrivateBancorp, Inc. (NASDAQ:PVTB), which was founded in 1989 to provide highly personalized financial services primarily to affluent individuals, professionals, owners of closely-held businesses and commercial real estate investors. The Company operates two banking subsidiaries, The PrivateBank and Trust Company and The PrivateBank (St. Louis). The Company, which had assets of $1.4 billion at September 30, 2002, currently has banking offices in Chicago, Wilmette, Oak Brook, St. Charles, Lake Forest, Winnetka, and Geneva, Illinois, and in St. Louis, Missouri.

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