San Francisco, Calif., June 10, 2003âAdvent Software, Inc. (Nasdaq: ADVS), the leading provider of software to the financial services industry, and Netik, an information automation company specializing in information-centric STP software solutions for the securities and investment markets, today announced they have formed a strategic alliance to integrate Adventâs GenevaÂ® and Netikâs InterViewâ¢ v. 7 solutions. The combined solutions will provide fund administrators, prime brokers and global asset managers with a best-of-breed solution for investment accounting, data management and reporting
The integration of Geneva and InterView significantly enhances the delivery of portfolio accounting information in real-time or batch modes both to a firmâs internal sources and externally to clients, significantly enhancing firmsâ straight-through processing capabilities while enhancing their reporting presentation.
Geneva significantly enhances straight-through processing performance by delivering investment accounting data that is accurate from the outset. Geneva has a number of unique capabilities, including a single unified data model that enables unsurpassed reporting flexibility while eliminating data discrepancies between sub and general ledgers. It also provides unprecedented data accessibility for a multitude of report views and real-time integration with upstream and downstream systems. Genevaâs dynamic error correction and unique data management technology provide exceptional data reliability at a fraction of the administrative cost. And Geneva delivers revolutionary accounting functionality and deep security coverage to meet the complex requirements of the most demanding asset managers and administrators.
InterView delivers a high-performance and highly scalable investment hub database that enables organizations to extract, clean/repair, enrich, route and distribute information for dynamic reporting and information processing throughout a firm. The InterView web portal allows firms to track their account status online in real time, as well as receive electronic copies of Geneva reports at any time from any location over the web.
The Investment Hub also acts as a flexible conduit for receiving, transforming, and routing transactions, reports, files, and messages to and from Geneva as well as enabling straight through processing between Geneva and with other systems, such as trade order management.
"With Advent and Netik, you have an integrated solution that meets the most demanding accounting and reporting needs," said John Wise, CEO and founder of Netik. Netik is known as a leader in information integration, and we have now incorporated this technology into our InterView product in conjunction with Advent. Our Hub insures that only accurate transaction information is sent to Geneva so that error/reject rates are reduced. We also provide a powerful matching and reconciliation engine to insure that both internal and external systems are in synch, every step along the way."
"Genevaâs unique technical architecture delivers innovative tools to enable back offices to generate more reliable accounting data at dramatically accelerated rates and at a much lower cost than traditional systems," said Peter Hess, Vice President of Marketing for Advent. "Netikâs solution complements the functionality of Geneva very well, and together weâll provide the industry with a truly unique and highly capable solution. Netik has very strong domain knowledge and a very good success rate in the industry. Weâre pleased to be able to work with them for the benefit of or mutual clients."