Australian software developer, InfoComp, today announced the first sale of the ASP version of its fund administration platform, Composer, to Fundhost - an Australian financial services provider to boutique fund managers.
Fundhost now only requires Internet access to use InfoComp's internationally-renowned fund administration platform, Composer.
CEO of InfoComp, Rob DeDominicis, said, "The availability of Composer as an ASP makes Composer more cost-effective and easier to access for businesses that don't necessarily have the resources to install and manage Composer in-house."
"Fundhost is a good example of this. Most of our clients are large institutions, however our ASP solution makes Composer available to any business in need of it. It doesn’t matter whether that business is large, small or somewhere in between. It will extend our reach and service offering to all organisations of all sizes."
"Consequently we expect our ASP solution to provide a significant new revenue stream for us as more and more businesses, like Fundhost, come on board in addition to established, larger users of Composer switching to our ASP version."
Fundhost director, Mark Bennett, said as a result of InfoComp's ASP Services, Fundhost did not have to concern itself with technology. Rather, it could focus on developing its products to ensure they took advantage of the features that Composer offered.
"We are delighted to have access to the ASP version of Composer. It only took one month to get up and running and we don't have to devote precious resources to the ongoing management of additional IT infrastructure. We can instead focus on our products and servicing our clients," he said.
Mr Bennett said InfoComp's ongoing commitment to the development and maintenance of Composer also left Fundhost confident that its future business growth would be supported.
InfoComp is an IBM solutions partner and also leverages off Telstra's infrastructure for the delivery of its ASP services.