StatPro Group plc, a leading provider of portfolio analytics and data solutions for the global asset management industry, announces that it has signed a multi year deal with Ridgewood Capital Asset Management (RCAM) as a new client for its SaaS hosted services suite.
Toronto-based RCAM, which currently manages in excess of $1b (CAD) for high net worth individuals, foundations, institutions, and First Nations, has licensed, on a SaaS basis, StatPro's Portfolio Management and Performance Measurement tools.
The Portfolio Management system will enable RCAM to benefit from a totally integrated suite of front, middle and back office tools based on current technology and access to information. It will provide RCAM with flexibility, ease-of-use and a range of functionality that will improve efficiency within the firm in terms of client reporting and data publishing among others.
The Performance Measurement tool will enhance the user's experience and significantly reduce the cost of portfolio performance measurement. It will allow RCAM to drill down into performance numbers from portfolio through to security level and will provide key information on the investment decision-making process.
"We were looking to provide our staff with the tools they need and our clients with the report they require. As a start-up though, it was out of the question to consider a heavy and costly customised service implementation. We found that StatPro's SaaS suite was ticking all the boxes and its cost was within budget. It will be integral to our day-to-day operations and will be key in assisting us to build the firm," says Paul Meyer, Managing Director and Partner at RCAM.
"We are delighted that RCAM has chosen to integrate our SaaS platform within their business. We believe that by offering SaaS, our clients can realise a much quicker return on their investment compared to the longer and more costly implementations associated with on-premise solutions. This is especially relevant at this time," says Justin Wheatley, CEO at StatPro.