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For Immediate Release
Media Contact:
Robert Minicucci, Warner Communications, 339-206-1722, robert@warnerpr.com
ESSENTIAL MOVES FOR BACK OFFICE CONTROL:
CONFLUENCE HELPS FUND ADMINISTRATORS PREPARE FOR NEW ERA OF RISK MANAGEMENT, TRANSPARENCY AND CONTROL
(Pittsburgh, PA – January 26, 2009) Confluence, the global investment management industry’s leading provider of automated data management solutions, today announced a year-long initiative designed to help the industry deal with the increased demands for risk management, control and transparency that will imminently hit the back office in the aftermath of the credit crisis.
The “Essential Moves for Back Office Control” initiative will demonstrate how by taking steps now to consolidate data and automate processes fund administrators will be better positioned for competitive differentiation and operating success in the post-recession era. The initiative will outline best practices for implementing systemic changes that have a measurable effect on risk management, transparency, process control, and scalability.
Confluence is introducing the program now to help fund administrators manage the “Perfect Storm” of challenges they are facing in addition to the volatile economy—from increasingly complex global regulations and compliance requirements to the need to provide added transparency and disclosure with fewer staff.
“Now more than ever, data consolidation and automation provide fund administrators a systemic opportunity to increase their success and their value to their organizations by improving efficiency and process control in the back office,” said Kirk Botula, Executive Vice President and Chief Operating Officer, Confluence. “Making the move to consolidate data and automate fund administration processes will position them for competitive differentiation and operating success in the post-recession era, where staff levels will not return to previous levels but demands for greater risk management, control and transparency will prevail.”
Confluence will debut the program in February, which includes a quarterly series of client webinars, whitepapers and e-newsletters that address important topics to help fund administrators manage critical challenges, such as expense management and holdings reporting disclosure. The first webinar, slated for the first quarter, will examine automation and expense management.
Mr. Botula concluded, “There is tremendous upside potential for fund administrators to consolidate data and automate processes that will not only abolish the risks associated with manual processes, but also transform fund administration so that it is ready to meet future challenges, and the next wave of growth and prosperity.”
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. 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 the Principal Financial Group®, 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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