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Bonaire Introduces REVPORT Fund Rebate and Invoice Reconciliation Software Solution

Bonaire Software Solutions, LLC, a leading provider of software solutions for asset managers and mutual funds, today announced a new REVPORT solution for fund managers, fund distributors and fund administrators that automates the distributor rebate fee calculations and invoice reconciliation process.

“In an increasingly complex distribution environment, we’re finding that mutual funds can have fee arrangements with hundreds of third parties that vary by product, platform and services provided,” comments Chris John, CEO of Bonaire. “Even today, mutual fund companies are utilizing manual processes and spreadsheets to manage payments and to reconcile invoices which are highly time-consuming and error-prone. We have been working closely with our clients to tackle these issues and are excited to be launching our new REVPORT software for fund managers.”

John continued, “Transparency and accuracy is at the top of a mutual fund company’s agenda. Boards are looking for full disclosure on payments. Management wants to know which channels are selling. Salespeople are interested in better understanding their distributor relationships. There is clearly a need for technology that can deliver necessary insight to bring accuracy to a largely manual process. Mutual fund companies cannot afford to expose themselves to the potential risk in an errant payment calculation.”

Bonaire’s REVPORT software automates the process for calculating fees and generating, receiving, reconciling and processing invoices. Firms can also utilize Bonaire’s EMPOWER BI software to measure the efficiency, value/cost ratio and profitability of their distributor relationships. As a result, mutual fund companies are now able to both ensure the accuracy of their fund rebate payouts and pursue their most profitable distribution partners.

Through the new software solution, mutual fund companies and fund administrators can better understand their distributor relationships and ensure they have comprehensive, operational oversight and cost savings.