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 suite has been selected by Baring Asset Management (Barings).
Headquartered in London, UK, Barings contracted with Bonaire following the successful completion of a Proof of Concept project.
Barings decision provides a key 'win' for Bonaire and further underpins REVPORT's evolution from its traditional back-office, billing roots. Although continuing to harness REVPORT's market-leading fee, rebate and commission calculation capability, Barings felt it was its ability to underpin their stringent Management Information needs that set it apart from the competition.
The implementation project is already progressing successfully and Barings are confident of delivering upon their stated objectives to:
- Centralise revenue, sales and performance data within a single, robust repository
- Automate existing manually-based data consolidation and reporting tasks
- Automate the production of standard MI reporting and improve responsiveness to ad-hoc needs
- Provide the foundation for comprehensive financial modeling, forecasting and analysis
- Lower operating costs and improve efficiency through the replacement of manually intensive, spreadsheet-based fee and rebate processes
"After evaluating a number of package and self-build options, we felt that the combination of REVPORTTM's comprehensive, proven data-model and Bonaire's commitment to working in partnership with Barings provided a compelling reason to proceed" said Julian Swayne, CFO at Barings.
Gary Watts, UK MD at Bonaire commented "With the support of our blue-chip client base, we have continued to invest heavily in rolling-out our product vision. Although REVPORT continues to be the pre-eminent revenue management solution; we have evolved our offerings by deploying additional modules including financial modeling and analytics, rules-based payment matching and integrated Business Intelligence. This strategy is paying dividends and adding the household name Barings to our rapidly expanding ccustomer base is testament to that".