Bonaire Software Solutions, LLC, a leading provider of revenue and expense management and business intelligence solutions to investment managers, mutual funds, wealth managers and capital markets firms, today announced that one of the world's top 12 global investment banks has gone live with Revport, a leading revenue and expense validation management platform.
In an effort to satisfy regulatory pressure for increased transparency, the investment bank sought to assess its workflow and uncover potential process improvements or efficiencies associated with post-trade costs. REVPORT was implemented to improve the following key elements: data capture, enrichment and import; invoice fee validation and reconciliation from broker and exchange vendors; and expense allocation to trading desks.
Bonaire has leveraged its existing REVPORT technology that helps asset managers and mutual funds with sophisticated fee and expense calculations and applied it into the capital market trading world. REVPORT's capital market solution has enabled the investment bank to:
- Reduce the cost, risk and time associated with manually intensive vendor invoice fee validation
- Minimize fee leakage via fully automated validation of post trade execution fees
- Optimize pricing agreements across the enterprise through cross-vendor product comparison
- Improve cash flow and management visibility through timely execution of reconciliation and payments
- Accurately allocate expenses across the firm using actual trade data
- Increase profitability and performance overall
Chris John, CEO of Bonaire, explains, "In working with an increasing number of execution venues, capital markets firms are faced with managing post-trade execution expenses across a growing number of brokerage and exchange vendors. Automating the post-trade expense validation process allows our capital markets clients to significantly reduce costs, increase transparency and improve the overall process. REVPORT, with its highly valuable business intelligence, can transform the trading desk to allow firms to see exactly what they are paying and to whom. These types of post-trade expenses are often overlooked but represent the majority of total cost related to TCA. Additionally, with global regulators demanding greater transparency in reporting, financial institutions simply cannot afford to risk mismanaging trade execution costs."