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RealTime IT News

Razorfish Cuts Vanguard an Intranet Portal

Razorfish Inc. Tuesday finished up its work with The Vanguard Group on an intranet portal.

CrewNet was named and created with a slant on the phrase "crew members," which is what the mutual fund uses for its employees. Razorfish is best known as consulting company for Internet strategies and a proponent of sleek Web site design.

As with most corporate portals, CrewNet hosts features that provide convenient access to internal announcements, company policies and crew benefits, crew member training program information, as well as links to email, timesheets and other important resources, such as local traffic and weather.

John M. O'Keefe, principal of information technology at The Vanguard Group, said Razorfish's track record and strategy are the reason why the firm was chosen above a slew of other intranet creators.

He also said the collaboration between both firms has given crew members a more effective and time-efficient method of accessing and sharing information.

Studies by Deloitte & Touche would seem to bear O'Keefe's confidence out. The firm's study listed Razorfish as the second fastest-growing technology company for its annual "New York Technology Fast 50," an award program that ranks technology companies by revenue growth in New York City and Westchester and Rockland counties.

Still, the high praise the firm has garnered in the past few years has been marred by its turnover at top hot spots. In late August, President Michael Pehl resigned after only a few months on the job. Citing a difference in "personal goals," he had replaced Jeffrey Dachis, who came full circle to absorb Pehl's duties at the president slot.

After the news analysts at downgraded Razorfish's stock to "buy" from "strong buy" in response to the news. The company's stock also slid 24 percent when Pehl announced he was stepping down.

And, some analysts say consulting firms can expect to see a slide in shares because firms are increasingly focusing on bringing e-consulting in-house as a cost-cutting measure.

Still, those could prove as mere bumps in the road for the firm, which makes no secret in announcing it is "aggressively recruiting talented leaders." The firm has announced a torrent of mobile solutions in the past year, keeping pace with every other e-business.

Scoring Vanguard as a partner is no small deal either. As a leading mutual fund, Vanguard serves over 15 million shareholder accounts and manages more than $575 billion, including more than $170 billion in employer-sponsored retirement plans.



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