• SaaS-based solution offers marketing leading transaction matching engine through a flexible pricing model
SmartStream, the financial Transaction Lifecycle Management specialist, today announced that Jupiter Asset Management has selected TLM OnDemand, SmartStream’s SaaS reconciliation service, for its cash and securities transaction processing.
Launched in 1985 as a specialist boutique, Jupiter Asset Management has since grown to become one of the UK's most successful and respected investment management groups. Today it manages assets spread across a range of UK and offshore mutual funds, multi-manager products, hedge funds, institutional mandates and investment companies.
To further enhance its operational efficiency and client service, Jupiter Asset Management selected SmartStream’s TLM OnDemand reconciliations service. With TLM OnDemand, the firm can access the market-leading TLM Reconciliations-Premium solution through a highly flexible, transaction-based pricing model. This will enable it to benefit from SmartStream’s latest transaction matching engine, enhanced exception management and investigation capabilities, and improved reporting capabilities without the rigid operational costs associated with an on premise installation.
A spokesperson for Jupiter Asset Management, commented: “Using TLM OnDemand is attractive as it introduces greater levels of automation through proven technology. As a result of its industry leading match rates we can improve our transaction processing efficiency, while the flexible pricing model enables us to better align operational costs to processing requirements. The SaaS-based approach also lowers the lifetime cost of the solution as we don’t have to manage related IT such as hardware or software upgrades; that is all delivered as part of the service.”
Richard Cummings, Executive Vice President at SmartStream, added: “Many firms are looking to introduce technology to make their back office operations more efficient but also need to ensure any IT investment delivers greater value. TLM OnDemand’s SaaS approach provides a lower total cost of ownership (TCO) route to accessing our market leading technology but without compromising on the functionality of the tools provided to the end user. I’m delighted that Jupiter Asset Management has selected TLM OnDemand as its reconciliations solution to lower its transaction processing costs and reduce operational risk.”
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