Source: Linedata
Linedata, a global provider of asset management and credit technology, data and services, today announced a new full-service offering with Stavtar Solutions, a New York-based software and technical services company, to expand and strengthen Linedata’s expense, contract and vendor management solutions for the asset management and alternative funds industry.
Linedata’s full-service expense management solution, powered by Stavtar’s StavPay platform, will offer CFOs and finance teams a holistic, plug-and-play back-office solution that fills resource gaps, automates and streamlines inefficient expense processes, and replaces manual-entry tools, such as Excel, and expensive applications that fail to cater to the unique requirements of complex asset managers.
Linedata’s turnkey solution will deliver three core benefits across the enterprise: expense allocation transparency supporting regulatory compliance oversight, excellence in expense administration, and a robust control environment. By leveraging the StavPay platform, the Linedata Services team will drive back-office automation and digital transformation while delivering unparalleled vendor, contract, workflow, and cost metric insights. Integrating Stavpay furthers Linedata’s commitment to providing digital-first solutions and managed service offering.
“Integrating the StavPay solution strengthens and expands our expense and vendor management offering to deliver the trifecta of fund accounting knowledge, and expense and contract management expertise on an advanced digital platform,” said Anup Kumar, Linedata’s Global Head of Global Services. “This cutting-edge co-sourcing solution will enable our hedge fund and private equity clients to create unparalleled transparency for investors and facilitate SEC compliance. The shift to digital solutions is here, and we are proud to be at the forefront of its adoption in the industry.”
“StavPay is an intuitive, hyper-flexible platform built to support complex workflows and expense allocation requirements of asset managers,” said Avtar Batth, Co-founder of Stavtar Solutions. “StavPay simplifies and digitizes the world’s most complex financial processes, making the transition between workflows and documents seamless. Other expense management platforms are built for the masses, but only StavPay accounts for the unique requirements and challenges of truly complex businesses. We are excited to work with Linedata to bridge that gap.”
The investment reaffirms Linedata’s commitment to excellence in addressing enterprise-level investment management issues supporting regulatory requirements set forth globally by government administrations and client organizations.