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BROKERAGE Charles Schwab & Co. expects its latest technology investment to yield a I, Soo% return over three years.
During the past six months, the San Francisco company has poured $125,ooo into an intranet that links 6oo users in its Electronic Brokerage division to recurring general ledger line items, including salaries, occupancy, communication, advertising and routine profit and loss data, said Mike Sidell, the division's senior manager of business systems.
Before it could access the Finance Now web site, the division each month would print 50 copies of the financial information in a 3oo-page report. "By using Finance Now to put all [profit and loss] information online, we save $52,ooo in annual printing...