Since 2011, SAGE has been successful with its new financial software for Family Offices and Independent Asset Managers which is available through a SaaS model for licenses.
Prospero, SAGE’s technological suite of solutions for the Financial Services Industry, is now offered via SaaS on pay-per-use basis by the Swiss firm; providing an affordable and quick-to-install solution for both start-ups and specialized financial institutions.
The approach has been successful as SAGE signed mid-2011 its first client, on this technology and licensing model, in just a month after this model was first offered. SAGE then signed 2 more clients before the end of 2011 for the same platform. This platform is available for clients in Europe, Asia and the Middle East. The solution is hosted in a secure server in Switzerland and access is provided to users via VPN and to clients via the Web.
“Today, IT virtualization is gaining traction in the Independent Asset Management sector as more managers recognize the cost efficiencies of operating at lesser volumes in this way,” said Tarek Hamdan, Chief Marketing Officer of SAGE. “The infrastructure investment being made by SAGE around SaaS technology combines the strength of SAGE’s position as a global market player in providing financial solutions, and the latest technological and security innovations.”
Prospero SaaS offering empowers banks and financial institutions to move their operations to a suitable pricing model that is based on their usage and/or number of trades. Firms can avoid allocating funds on hardware and also save the efforts of their internal IT department on maintenance and support. Prospero’s new package allows them to spend only what they require based on their firm’s activity, size of clientele, and AUM.