CorrectNet and GIS Team Up to Empower Administrators with Tightly Integrated Web Publishing

Hauppauge, NY and Hackensack, NJ, July 28, 2003 - Global Investment Systems Ltd. (GIS), the leading supplier of specialized accounting software for the securities industry, and CorrectNet, the leader in data consolidation and web publishing services, announced today that GIS’s fund administration software systems will now include an online reporting capability. This new functionality will be made possible by integrating GIS’ MFACT® and MSHARE® systems with CorrectNet’s infiPOINTtm system to create GIS’s WebPortaltm.
In commenting on the announcement, Peter Muldoon, director of client services at GIS, said both companies jumped at the opportunity to work together in response to industry calls for a comprehensive web reporting solution for hedge funds.

"This integration between MFACT, MSHARE and CorrectNet’s infiPOINT will greatly satisfy our clients’ needs for web reporting," he said. "In fact, CorrectNet’s cutting edge technology, particularly their approach to security, really proved they could help us provide the user security and enhanced functionality our clients have come to expect. Additionally, their strong positioning within the hedge fund administration business made this a natural fit for both companies."
MFACT and MSHARE users will now be able to extend their data and reporting to the Internet, providing their fund managers and investors with fund information enriched with charts and graphs. Administrators and others will be able to drill down to a transactional level of detail for information about portfolio holdings, financial statements, trial balances, and shareholder investments. Fund level performance will be available historically, along with PDF statements, letters, and other fund manager and shareholder specific information.

"GIS is well respected in the industry, and we are excited to have the opportunity to work with them,” Bob Miller, CEO of CorrectNet said. "It’s clear that fund managers and investors need secure Internet access to fund information. Now that their Internet presence will seamlessly integrate with their mission-critical accounting systems, administrators and managers will realize significant efficiencies and deliver better client service."

CorrectNet’s infiPOINT platform (on which WebPortal is based) rapidly consolidates data from existing databases and reporting systems into an XML database that creates powerful web publishing services. Access to this reporting solution is restricted by a sophisticated security infrastructure that is frequently audited by the company and their clients, who are among the largest financial institutions in the world.

GIS will offer WebPortal as a part of their product suite. CorrectNet’s global infrastructure is primed to serve GIS’ broad and diverse client base.
Please visit GIS webportal to find additional information about features, security, frequently asked questions, and more.

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development