For Immediate Release
Media Contact:
Robert Minicucci, Warner Communications, 603-488-5856, robert@warnerpr.com
Confluence Whitepaper Helps Fund Administrators Select the Right Financial Reporting Software
New Paper Provides Practical Advice for Selecting Software that Meets Fund Administrators’ Strategic Objectives
(PITTSBURGH, PA – SEPTEMBER 11, 2008) Confluence, the global investment management industry’s leading provider of automated data management solutions, is offering a whitepaper that provides fund administrators with practical advice to help them make the best decision possible when selecting financial reporting software. The paper will also be available at the ICI Tax and Accounting Conference in Chicago from September 14-17, 2008.
“Embarking on a search for a financial reporting solution is a strategic economic decision,” said Kirk Botula, Executive Vice President and Chief Operating Officer of Confluence. “The challenge is not just about finding a vendor that has a solution to meet your immediate need for financial reporting automation and control. It is really about finding an innovative technology partner that understands multiple aspects of back-office data management, and is committed to meeting both your immediate and future needs for fund administration automation.”
The whitepaper provides several guidelines that can help fund administrators choose a solution that will position their organization for long-term opportunity and growth. To obtain a free copy of “Eight Points to Consider When Selecting Financial Reporting Software,” please visit www.confluence.com/8Points. Among the topics covered are:
• Setting overall goals and objectives.
• Defining strategic criteria before beginning the search.
• Making control the primary functional driver.
• Conducting a “gap” analysis that can allow a company to compare its potential state with its potential desired state.
• Considering the entire financial reporting process to understand what processes must be automated and which ones cannot.
• Considering the total cost of ownership, to assess direct and indirect costs related to an investment in software or hardware.
About Confluence
Founded in 1991, Confluence is a global leader in fund administration automation. Confluence helps investment management companies gain unprecedented control by automating every step of the fund administration process—including the collection, creation, confirmation, and delivery of investment product data—while maintaining control of the process. Results are lower costs, reduced risk, decreased reporting turnaround times, and the scalability to automate more processes without additional resources. Confluence solutions are used by 40 percent of the leading global investment managers, and more than 60 percent of US mutual funds. The Unity™ platform from Confluence addresses a wide range of problems from performance measurement to customized reporting for a full array of domestic and international managed investment products, including mutual funds, funds of funds, collective funds, separate accounts, and variable products, as well as hedge funds and other alternative investments. Major fund companies such as T. Rowe Price and Russell Investments, and service providers such as The Bank of New York rely on Confluence. Headquartered in Pittsburgh, PA, Confluence serves the international fund industry with key locations in London and Luxembourg. For more information, visit www.confluence.com or e-mail info@confluence.com.
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