Exact are pleased to announce that one of the largest European fund management companies has recently selected Libris Financial as a replacement for a number of their City of London based Back Office applications - after a year long search and selection process.
Exact are delighted to have been chosen over a number of alternative major suppliers and we are currently engaged on a full-scale delivery programme and timetable. As a totally hosted UltraSecure ASP solution, it is anticipated that the implementation and data migration can be completed in a very short timeframe.
Libris Financial offers full Investment Management processing, accounting, client reporting, performance measurement and attribution. The system has been designed to cover all the requirements of a Private Client and Institutional fund manager, including efficient Straight Through Processing and automated Custodian Reconciliations.
As this particular implementation will be expected to replace existing in-house developed applications, the aim is to reduce the reliance on internal support mechanisms and free personnel resources to concentrate on the core business strategy. In addition, the client has identified a 60% annual saving over existing operational costs.
Paul Sinclair, Sales Director, Exact Consultancy commented, “ We have been working hard to demonstrate the inherent flexibilty of Libris Financial to adapt to our clients' business process. In this instance, our free Proof of Concept programme proved once again the capabilities of the Libris model. The ability to replace multiple back office systems with one fully hosted Libris Financial service speaks volumes for the original concept - proving its capabilities beyond doubt that a cost-effective solution does not have to be a scaled down solution, indeed quite the reverse. ”
As the implementation process continues, Exact will be announcing further information relating to this exciting new client in due course.