1 Pioneer Investments Legal and Compliance System Assessment Weekly Status Update June 23, 2005

2 Agenda Present Discovery Document Review Status of Analysis Phase Review Key Observations and Directions

3 Discovery Document The purpose of the discovery phase is to understand the current state and gain consensus on the areas of focus for the final recommendations The discovery document contains the following: –Introductory Information Objective, scope, approach, etc. –Current state process flows –Current state technology analysis diagrams –Findings Issues and observations as prioritized by the business –Exhibits Workshop meeting notes, etc.

4 Analysis Phase Activities Currently performing additional analysis into all the high priority findings with the goal of creating short term and long term solution recommendations

5 Key Observations and Directions The Legal and Compliance department functions in process stovepipes This has led to technology point solutions which address individual functions However, there are common problems that affect all process areas –Lack of document management tools (storage, search and retrieval) –Lack of collaboration tools (document sharing) –Lack of workflow automation (tracking documents through a process) –Insufficient or unexploited reporting capabilities in current systems Need to take a holistic approach to a technology strategy which will allow the business to leverage shared technologies for common problems

6 Document and Content Management Document management, workflow, and collaboration is a key area of focus There are numerous commercially available solutions designed to allow businesses to efficiently share documents across user communities, and store for later use Document management systems –An electronic system that scans, stores and retrieves documents received or created by an organization. Document management systems commonly provide workflow and tracking, check-in, check-out, storage and retrieval of electronic documents often in the form of word processor files and the like. Content management systems are –A system for the creation, modification, archiving and removal of information resources from an organized repository. It includes tools for publishing, formatting, revision control, indexing, search and retrieval, as well as customized capabilities for workflow design and for tracking of text assets (such as language library components)

7 Document and Content Management