Bonaire Software Solutions, a leading provider of financial services software solutions to investment managers, mutual funds, wealth managers, broker dealers and RIAs, announced that its Revport Revenue Management and Fee Billing application has been selected by Transamerica Investment Management ("TIM").
The Revport Fee Billing and Accounts Receivable suite automates the entire Revenue/Fee calculation and collection process. The solution is specifically designed to meet the complex needs of large multi-currency global users. REVPORT takes in data feeds from the client's recordkeeping platform, undertakes complex rules-based calculations and then posts the fees to the general ledger, while automatically generating invoices. The A/R and Collection functionality significantly optimizes the payment matching functions and automates the associated FX Gain/Loss transactions sequence.
"We compared Bonaire's REVPORT to other systems and thought the user interface was very intuitive and much easier to use. In addition, the Bonaire team really impressed us with their understanding of our business and their approach to solving some of the unique and complex revenue management challenges facing investment management firms. We are excited to be fully integrating REVPORT into our back office platform," said Travis Weimer, Chief Financial Officer at TIM. REVPORT creates compliance-driven audit trails further eliminating manual processes, which are labor intensive and error prone. TIM will be able to automatically calculate a variety of fees, including foreign currency, asset management, wrap, and performance. Sub-advisor payouts and commissions associated with accounts and portfolios are also automatically computed.
"We are extremely proud of our new relationship with Transamerica Investment Management and also having added another premier investment firm to our growing, global client base," said Scott Fitzpatrick, Vice President of Sales of Bonaire. "Since 1999 we have built a tremendous client base consisting of the world's leading asset managers, all of whom have come to trust our products and services."
REVPORT Revenue Management Key Features:
- Automates revenue management process related to fee billing and accrual computations
- Calculates complex fees, accruals, produces invoices and generates all accounting and audit output
- Centralizes fee calculation rules, embedding knowledge in the application and enhancing financial management and control
- Dramatically improves the A/R and Collections functions via intuitive payment matching algorithms and automates the associated FX Gain/Loss transactions sequence