allows organisations using it, to realize tenfold productivity gains.
"The amount of time and effort that we used to spend on correction of errors on trades and everything resulting from it was seriously hampering our ability to develop our business. All this work has now been completely eliminated allowing us to concentrate on more value adding activities." Says Mike Wyne, Managing Director of Fischer Francis Trees and Watts, a fixed income investment specialist with more than 30 years' experience managing exclusively fixed income assets for large institutional clients " Now that we have been
in production for a while, we are even more sure that we made the right decision to purchase Geneva. It's simply amazing what revolution this unique technology enables us to undertake." Mike Wyne concludes.
Official Geneva Launch in Europe
With more than 30 firms attending and more than 60 attendees, the March 18th Advent Seminar at Great Eastern Hotel in London,
was remarkably well attended and described as a brilliant event with excellent speakers.
Mr. Mike Wyne of Fischer Francis Trees & Watts, received excellent feedback from the audience on his enthusiastic client presentation.
They started the implementation process of Geneva in April 2002 and went live with its first accounts in September 2002. Since the
implementation, having already experienced an increase in operational efficiencies and productivity, Wyne claims they are an even
better reference today.
A Unique, Revolutionary Solution
Geneva is the industry's first global investment accounting solution to solve the complex challenges global asset managers face when
accounting for high volume, traditional, derivative, domestic and global investment strategies, as well as when integrating accounting
data into their straight-through processing (STP) infrastructure. Geneva's innovative technology allows firms to reduce operating costs
and minimize operating risk far beyond levels previously attainable with traditional systems.
"Asset Management firms are under tremendous pressure to adapt to changing investment strategies while closely managing operating costs. A large portion of their back office expense is in the portfolio accounting domain. Replacement costs are high, so the best reason to replace a system is if there is a substantial technology innovation in the marketplace that enables huge gains in productivity and profitability. This is where Geneva comes in.", says Wendy Goodrich, Director of the Geneva Business Unit in Europe.
"We are seeing many of our hedge fund, prime brokerage and fund administration clients achieve 10 to 1 gains in productivity after implementing Geneva. Given the unparalleled value proposition, combined with Adventâs 20 years of experience, Geneva will become the platform of choice in the global asset management market, as it already has for prime brokerage and complex hedge funds", concludes Wendy Goodrich.