Bonaire Software Solutions, a leading provider of financial services accounting software solutions to investment managers, mutual funds, wealth managers, broker dealers and RIAs, and Baring Asset Management announced that they have entered into a formal agreement to jointly promote a new Management Information solution for Asset Managers.
"Our decision to deploy REVPORT(TM) at the core of our Management Information solution has been fully justified and is on track to deliver our predicted ROI. We have forged a very successful partnership with Bonaire and this latest initiative underpins the long-term strategic importance of that relationship," said Julian Swayne, CFO at Barings.
Under the terms of the agreement Barings will transfer the IP of their state-of-the-art development, produced as part of the roll-out of Bonaire's REVPORT(TM) Revenue Management suite. With REVPORT(TM)'s data-model at the core of this solution, the MI product will be marketed by Bonaire as a fully integrated component of their existing offering. Available as a value-added module to existing customers or to prospective users as either i) a stand-alone MI platform or ii) integrated with Bonaire's market-leading revenue management capability, this development further cements REVPORT(TM)'s pre-eminent market status.
The implementation of the Management Information solution has allowed Barings 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
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(TM) 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 the on-going input of true market professionals like Barings, is key to underpinning this continued drive to improve our products and services."
REVPORTTM Revenue Management Key Features:
- Provides a single repository for fee revenue, sales and performance data
- Automates revenue management and fee billing
- 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
- Provides management information via fully integrated MI tools, including data cubes, views, dashboards and graphical visualization / reporting
- Allows revenue modeling, forecasting and analytics to be performed using actual billing rules and schedules
- Seamlessly integrates with existing upstream / downstream financial management and reporting systems