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 Northern Capital Management, based in Madison, WI, is live with Indata's IMS solution for front to back office, replacing their current Advent APX system.
"When we reviewed INDATA's system we found it to be better in a number of different areas which made us seriously consider their package," commented Brian Hellmer, Managing Partner. "What we were more concerned with was the cost and turnaround time of the implementation having gone through a previous conversion."
Having signed with INDATA in March of 2009, Northern Capital was live on INDATA three months later. The conversion from the Advent system included historical transaction activity, positions and performance. The timeframe was expedited based on Northern Capital's commitment to an accelerated timeframe and INDATA's expertise in converting Advent clients.
"We have a very compelling solution from a variety of standpoints but what also sets INDATA apart is our turnaround time and cost of our implementations," commented David J. Csiki, Managing Director, INDATA. "For Advent clients considering upgrading to APX or existing APX clients coming up for renewal, costs are significant and with INDATA the cost of conversion is a fraction of what they are with Advent and other competing products due to our business practices and experience. We are very pleased to have Northern Capital as a client," he added.