SS&C Technologies Holdings, Inc. (SSNC), a global provider of financial services software and software-enabled services, today announced a new release and major upgrade of the company's CAMRA investment accounting platform.
"More than 50,000 hours have been invested in upgrading CAMRA, including leveraging the .NET framework to refactor or optimize CAMRA's industry-standard library of yield and bond math functions," said Timothy Reilly, Senior Vice President, Institutional and Investment Management. "This is a significant release for advancing our technical infrastructure and one of the most comprehensive and functionally rich new releases of CAMRA ever."
Among CAMRA's major new functional upgrades is the ability to configure and maintain an unlimited number of accounting bases or 'books' to support global accounting standards such as U.S. GAAP and IFRS, tax accounting, and regulatory reporting. Organizations with extensive multinational operations can now maintain an unlimited number of local, functional, base and reporting currencies. Multi-dimensional currency translation dramatically expands capabilities to address the increasingly complex demands of financial planning, analysis, regulatory, accounting and reporting needs encountered while operating on a global basis. Multinational companies can now maintain an unlimited number of functional and reporting currencies for all their subsidiaries in a single database without maintaining shadow portfolios for cross-matching to the general ledger.
CAMRA now provides expanded capabilities to support complex asset classes, including bank loans, commercial and residential mortgages, non-Agency securities, and servicing assets held by mortgage-REITs such as Mortgage Servicing Rights. Other major enhancements include even more robust global tax accounting support, with enhanced support for wash sales and the PAC Method.