Bonaire Software Solutions, LLC, a leading provider of revenue management, accounting and business intelligence solutions to investment managers, mutual funds, wealth managers, broker dealers, RIAs and bank/trusts, today announced that one of the top three largest asset managers in the world has selected REVPORTâ¢ to automate fee billing for the firmâs United States and EMEA business units.
The asset manager chose Bonaire after carrying out a thorough RFP selection process to find a replacement for its existing legacy billing systems. The firm will be using REVPORTâ¢ to manage its global fee calculations and client billing.
The global asset managerâs key considerations in choosing a service provider were based on flexibility, accuracy and scalability. With increasing regulatory pressure to provide fee transparency from Dodd-Frank and RDR, the firm sought a flexible and scalable solution that would support regulatory compliance as well as future geographic expansion. The asset manager needed to implement a system that would enable them to demonstrate streamlined processes and complete audit trails for all of their revenue management processes.
REVPORTâ¢ will deliver tangible business benefits, including:
â¢ Lower operating costs and improved efficiency through the replacement of manually intensive spreadsheet-based processes
â¢ Control and calculation of fund or distributor rebates
â¢ Calculation of retrocessions, trailers, sub-advisor pay-outs and fee splits
â¢ Centralize fee-based revenue and accounting data within a single, robust repository
âTo be signing such a prestigious global client is a testament to the Bonaire value proposition and the benefits our products can bring to the global investment management industry,â comments John Bosley, COO of Bonaire. âOur REVPORTâ¢ software will ensure that our client can efficiently and accurately calculate their fees, and do it at a lower cost than the old existing systems they had in place.â