Bonaire Software Solutions, a leading provider of Revenue Management, accounting and Business Intelligence solutions to investment managers, mutual funds, wealth managers, broker dealers and RIAs, announced that its Revport platform has been selected by Oaks, PA-based SEI (NASDAQ:SEIC).
SEI's decision provides another key 'win' in the wealth management area for Bonaire and provides further evidence of the confidence the market is placing in REVPORT's rapidly evolving functionality. Having started with its roots solely in the back-office, fee billing arena, Bonaire's continued investment in delivering its product vision is proving a major competitive differentiator. The consolidation of REVPORT's core strengths of fee calculation and invoicing, with its comprehensive Management Information capability proved the decisive factor in SEI's evaluation.
The Bonaire solution will deliver on SEI's stated objectives to:
-- Lower operating costs and improve efficiency through the replacement of manually intensive billing and receivables and collections processes
-- Centralize fee-based revenue and accounting data within a single, robust repository
-- Automate existing manually-based data consolidation
-- Design workflow to further enhance controls and accuracy
-- Through automated reporting tools, empower business-users to address their own reporting requirements, thus reducing the cost and time to deliver
-- Provide a tangible, quantifiable return on investment
"REVPORT represents a significant upgrade to our current revenue management and fee billing processes, plus it seamlessly integrates to our existing back office systems, and provides a comprehensive data repository to meet our needs," said Kevin Crowe, Head of Solutions, SEI Advisor Network.
"We are extremely proud of our new relationship with SEI and also having added another premier investment firm to our growing, global client base," said John Bosley, COO of Bonaire. "Since 1999 we have built an enviable client-base comprising many of the world's leading asset and wealth managers. They recognize our commitment to them and as such, have come to trust our products and services."