Anchin, Block, Anchin adopts TKS accounting system

Source: TKS Solutions

TKS Solutions, a provider of partnership and shareholder accounting solutions for the financial industry, today announced that Anchin, Block, Anchin LLP is utilizing Penny, TKS' flagship software, as its central partnership accounting system.

TKS Solutions helps Anchin maintain flexibility and better manage the complexities of investment partnership accounting.

Anchin, one of the industry's most widely recognized and ranked accounting firms with 52 partners, and over 400 professionals, has a storied commitment to the financial services industry. Penny helps Anchin tailor their client service based on the industry, not the software program, letting them easily modify and adjust the variety of terms and provisions found in investment partnerships.

"With the ability to modify and adjust rules as you go, Penny is the most flexible investment partnership accounting tool in the industry," said Gerry Ranzal, partner-in-charge of Anchin's Financial Services Group. "Our adoption of Penny gives us next-generation capabilities and allows us to continue building on our thorough financial services offerings and improve reporting for our clients."

Penny provides firms, such as Anchin, with many features to track investors' capital, down to individual contribution lots. Penny helps eliminate tasks that were previously time consuming and laborious, such as allocating realized and unrealized gains and losses, dealing with side-pockets, handling multiple fee arrangements and more.

In today's environment, financial services firms must demonstrate experience, efficiency, and expertise, as well as continued growth. Penny improves the accuracy of internal reporting functions by providing an overall checks-and-balances system. It helps automate key processes while remaining flexible and providing greater insight and thorough reporting, which lends itself to greater transparency to investors.

"Anchin's use of Penny demonstrates our commitment to providing cutting edge technology to a variety of financial services firms," said Ron Kashden, president of TKS Solutions. "Penny's unique offerings allow companies to maximize benefits for their clients, which in the current climate, is crucial."

Comments: (0)