Eagle Investment Systems, a leading provider of financial services technology and a subsidiary of The Bank of New York Mellon, today announced that McDonnell Investment Management, a $12 billion asset manager of fixed income assets, recently transitioned its installation of Eagle's investment accounting solution to the Eagle ACCESS application service provider.
McDonnell became an Eagle client in 2004 when it implemented its investment accounting solution to process high volumes of transactions. As its business environment evolved, McDonnell elected to transition to a hosted version of the functionality via Eagle ACCESS. This provided McDonnell with access to a knowledgeable team responsible for system upgrades, disaster recovery and support for the back office without having to allocate its internal staff resources.
"We view our relationship with Eagle as an extension of the McDonnell team. The expertise and support we are provided is extremely valuable," said John Dragstrem, chief information officer of McDonnell.
While Eagle ACCESS has addressed many needs from a technical and support standpoint, McDonnell has also realized significant benefits using Eagle's investment accounting solution.
"We have dramatically improved our reporting efficiencies and now process our investment accounting reports more than 60% faster. This has allowed us to focus on our business strategy, instead of the administrative needs," Mr. Dragstrem added.
"McDonnell is yet another example of one of our clients that has streamlined its back office operations using our solutions via the Eagle hosted environment, Eagle ACCESS," said John Lehner, Eagle president. "In today's challenging economy, firms are focused on reducing the time and cost of running their operations, but they also want the most robust functionality and system support available. Eagle's hosted solutions for investment accounting, data management, and performance measurement offer the asset management industry the best of all worlds."