Confluence Unveils New Future for Expense Processing in the Global Fund Administration Industry
Confluence, a leading provider of automated data management solutions for the investment management industry, today announces a new initiative to increase efficiency and mitigate issues caused by manual expense processing by fund administrators. The company is first offering an exclusive webinar to detail the challenges of expense processing in today's global industry. Confluence also plans to unveil its first-of-its-kind automated solution for accounts payable, budgeting and payment-related tax reporting through the webinar, as well as outline how this software can resolve some of the inconsistencies and redundancies found in manual processes.
“It may be hard to believe, but even in today's high-tech software age, the majority of fund administrators are using outdated solutions to complete their expense processing tasks,” said Paul Soltis, Product Manager at Confluence. “We've found that the majority of our fund administrator clients manually update a multitude of low efficiency spreadsheets, which have little inherent control and leave them and their clients vulnerable to errors and inconsistencies. We are offering a more effective alternative.”
The complimentary webinar, “Discover the ‘NXT' Frontier of Expense Processing Efficiency & Control,” will take place on Tuesday, Nov. 13, 2012 at 10 a.m. in New York, 3 p.m. in London, and 4 p.m. in Luxembourg. Attendees can register at http://www.csvep.com/registration/view.php?id=397?code=BG.
Martin Dean, Director at Citi Fund Services, and Bob McDowall, Director of UbiCap Group Ltd., will provide expert commentary on the problems found in today's expense processing methods and how these issues should be addressed in the future. Gabriel Alejandro, Senior Manager with PwC, will moderate the discussion.
Founded in 1991, Confluence is a global leader in fund administration automation. Confluence helps investment management companies gain unprecedented control by automating every step of the fund administration process—including the collection, creation, confirmation, and delivery of investment product data. Results are lower costs, reduced risk, decreased reporting turnaround times, and the scalability to automate more processes without additional resources. Confluence solutions are used by 40 percent of the leading global investment managers, and more than 60 percent of U.S. mutual funds. The Unity® platform from Confluence addresses a wide range of problems from performance measurement to customized reporting for a full array of domestic and international managed investment products, including mutual funds, funds of funds, collective funds, separate accounts, and variable products, as well as hedge funds and other alternative investments. Headquartered in Pittsburgh, PA, Confluence serves the international fund industry with key locations in San Francisco, CA, London and Luxembourg. For more information, visit www.confluence.com.
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Glori Perez, 212-584-5483