Linedata upgrades fund accounting software

Source: Linedata

Linedata (NYSE Euronext: LIN), the global solutions provider dedicated to the investment management and credit industries, today announced the latest version of fund accounting software Linedata Mfact, focusing on streamlining and automating key processes and enhancing exception management capabilities.

This has been achieved by delivering new business process management (BPM) capabilities, enhanced corrections processing, an integrated weekend/holiday schedule and improved handling for irregular paying debt instruments. Linedata Mfact forms a key part of the Linedata Admin Edge platform, supporting end-to-end fund administration for alternative, traditional and liquid alts funds.

Faced with increased operating demands and higher costs, the fund accounting function has to be run as efficiently and safely as possible. Linedata Mfact is adding the Linedata Optima specialist BPM tool to its functionality set, enabling centralized exception management and process monitoring. Linedata Optima has been created to remove manual operations by presenting a real-time view of all automated processing and exception messages on a single screen, allowing intervention at the earliest possible moment. Linedata Optima employs a visual, intuitive approach to monitoring which means that information can be shared more widely throughout the organization, with specific views built for different user profiles. Errors and delays are thus dealt with as soon as possible, while efficiency, control and oversight are improved and operational risk is reduced. This new version of Linedata Mfact also sees further enhancements to the job scheduler to support Linedata Optima, adding more processes and enabling greater flexibility in the planning and scheduling of processes.

Another time-saving and risk-reducing feature is a redesigned corrections module which automates all background calculations and processing steps required when changes to historical transactions are needed. This gives a more streamlined way of identifying and making transaction corrections, without sacrificing the benefit of a full audit trail of all actions. In addition, the introduction of user-defined weekend and holiday schedules allows for the full support of all T+ conventions and automates the calculation of accrual cycles for irregular paying debt instruments.

“With these latest enhancements to Linedata Mfact we are delivering greater automation of core processes and more comprehensive exception management, to enable our clients to handle more effectively the higher volumes and broader instrument requirements that they are experiencing”, says Michael Galvin, Product Manager at Linedata. “At Linedata we continue to invest in our fund services offering to ensure that our clients can rely on us to meet their administration system needs, in terms of automation, functionality, scalability, regulatory updates and new instrument coverage.”

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