Indata, a leading industry provider of software solutions for buy-side firms including trade order management (OMS), compliance, portfolio accounting and front to back office announced today that Boston Financial Management, located at One Winthrop Square in Boston, MA, with $1 billion in equity and fixed income assets, is live with Indata IMS for their front to back office needs.
After issuing a formal RFP during the second quarter of 2007, Boston Financial Management narrowed it's search to vendors who could offer an integrated front to back office package. From this short list, the firm conducted an in-depth review of functionality and technology platforms.
Among the key factors that Boston Financial Management analyzed prior to selecting INDATA were the total cost and turnaround time for the implementation as well as whether or not the vendors in question had mature technology platforms.
"Not only did the INDATA system have the functionality we were looking for in different areas, they were also more cost effective and timely when it came to the actual implementation of the system," commented Jack Abbott, President & CEO, Boston Financial Management, Inc. "This, combined with the fact that INDATA's technology offering was firmly established and was being utilized by other sizeable investment management organizations in the Boston area, led us to our decision."
"Firms like Boston Financial Management understand the importance of evaluating the total cost of a given system, including the implementation, which is sometimes overlooked by firms in their due diligence," said David J. Csiki, Managing Director, INDATA. "By offering the latest technology, INDATA is able to provide significant savings over our competitors," continued Csiki. "We look forward to continuing to work with Boston Financial Management as their long-term investment management technology partner."