Bonaire Software Solutions, developer of the Revport Revenue Management and Fee Billing software suite for financial services firms, announced that it has just been issued a patent by the US Patent Office for its Revenue and Expense Realignment System and Method.
"Bonaire has continued to invest heavily in new product solutions focused on revenue and expense management for asset managers. The overall vision for Bonaire is to assist clients in consolidating billing data with data that is required to support financial reporting such as revenue, AUM, and expenses.
"Currently, consolidating revenue and expense transactions, processing allocations and alignments and doing transfer pricing typically has been handled through various manual processes. Bonaire's patented system will enable clients to automatically allocate revenue and expense entries and do transfer pricing across their various business entities or mutual fund products based on a defined set of rules, algorithms and data conditions.
"We realize that we have unique intellectual property and want to patent our methods where appropriate. The fact that the patent office also agreed that our methods and approach are unique further validates our vision for products geared to the asset management market," said John Bosley, COO of Bonaire.
REVPORT Key Features:
-- Provides a single repository for revenue, sales and performance data
-- Automates revenue management, fee billing and commission processes
-- Calculates complex fees, rebates, commissions and 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 BI tools, including data cubes, views, dashboards and graphical visualization / reporting
-- Allows revenue modelling, forecasting and analytics to be performed using actual billing rules and fee schedules
-- Seamlessly integrates with existing upstream / downstream financial management and reporting systems