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Lombard Odier Chooses Automated Expense Budgeting Solution from Confluence
Fund management industry increasingly adopting data automation for greater transparency, control and efficiency

August 7, 2014

Confluence, the global leader in investment data management automation, today announces that it has been appointed by Lombard Odier Funds (Europe) S.A., the Luxembourg based management company of Lombard Odier Investment Managers ("LOIM") [1], to provide its automated budgeting application for asset managers. LOIM will be using Confluence's Unity NXT Budgeting and Unity NXT Invoice Payments expense management solutions in the management of their Luxembourg UCITS and AIF fund expenses.

Unity NXT Budgeting is an automated solution that enables asset managers to manage fund expenses with greater control and transparency. Unity NXT Budgeting automatically collects net assets, foreign exchange rates and bulk invoice payment activity using a secure environment and allocates payment activity to appropriate instruments. The software further creates fund level budgets in multiple currencies and projects and allocates future expenses.

Unity NXT Invoice Payments invoice tracking functionality solves the many challenges asset managers face when creating, reviewing and approving invoices for completeness and accuracy. Designed for control and efficiency, Unity NXT Invoice Payments can reduce cumulative hours spent by asset managers on invoice tracking and vendor reporting by up to 90 percent. Additionally, because it provides invoice data across funds, asset managers can more easily perform the analysis required to make informed decisions and optimise vendor relationships.

Commenting on the appointment, Mark Edmonds, Managing Director of Lombard Odier Funds said, "We view automation as key to gaining greater transparency, efficiency and control over expense management processes.  The Unity NXT Budgeting solution allows us to manage expenses efficiently across multiple currencies and multiple share classes."

As the industry gradually moves away from spreadsheets, Unity NXT expense management solutions offer asset managers the chance to reduce the cumulative hours spent on fixed ratio expense oversight and to make product decisions around the fund and asset class offerings in order to optimise revenue potential.

Hugh Byrne, Managing Director - EMEA Business Development, at Confluence added, "Asset managers can now automate expense budgeting to reap the benefits of a fixed operation charge ratio without struggling through the hassle of spreadsheet-based expense management. We are very pleased to be providing LOIM with solutions to help them improve control and efficiency of monitoring budgets and forecasted budgets and creating, reviewing and approving invoices, whilst simultaneously reducing risk and cost."


[1]Lombard Odier Investment Managers, or LOIM, is a brand name designating the asset management arm of Bank Lombard Odier & Co Ltd

About Confluence

As a proven leader delivering an innovative platform to put the data first in asset management, Confluence is leading the DataTech evolution for post-trade reporting. We focus on getting the data right, then reusing it across multiple regulatory, financial, statutory, performance and investor communications deliverables for speed, efficiency and control. Eight of the top 10 global service providers license Confluence products and eight of the top 10 global asset managers have business processes automated through Confluence. Headquartered in Pittsburgh, PA, Confluence serves the international fund industry with locations in Brussels, Ho Chi Minh City, London and Luxembourg.

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