Indata, a leading industry provider of SaaS (Software as a Service) for buy-side firms including trade order management (OMS), compliance, portfolio accounting and front-to-back office announced today that Dana Investment Advisors, based in Brookfield, WI, is live with Indata IMS solution for front to back office and is using Indata's SA (System Administration) service to outsource a number of back office functions.
Dana Investment Advisors selected INDATA's back office portfolio accounting platform over Advent's APX product. The firm had been using INDATA's Precision Trading Front Office OMS, Modeling and Compliance module with Advent Axys as their back office accounting package and began to evaluate portfolio accounting solutions that would give them better functionality in a number of areas.
"Among the key drivers in our due diligence was to evaluate how effective the systems were across all asset classes, including complex fixed income," commented Mark Mirsberger, CEO of Dana Investment Advisors. "We selected INDATA based on their strengths in this area as well as the fact that their system was more integrated and provided more automation and cost savings for our operational processes," he added.
In addition to using the entire INDATA software solution, Dana Investment Advisors also utilizes the INDATA SA service. INDATA SA (System Administration) outsources a number of back office functions including pricing, corporate actions, performance, recon and disaster recovery. The goal of INDATA SA is to reduce costs while allowing firms to focus on managing investments and servicing clients.
"In today's markets, reducing costs is essential to the investment management process. At INDATA we understand this and provide not only-industry leading software, but key services that allow our clients the ability to improve operational efficiency," commented David J. Csiki, Managing Director, INDATA. "We are very pleased to have Dana Investments Advisors as a client," he added.