PITTSBURGH, August 22, 2005 â Mellon Financial Corporationâs Investment Manager Solutions (IMS) business today announced the successful deployment of Redi2 Revenue Managerâ¢ , an advanced billing technology now on-line as part the IMS technology platform supporting operations for a principal outsourcing client.
Developed by Redi2 Technologies, Revenue Manager automates investment management fee billing and general ledger/accounts receivable interfacing. It is used to calculate a broad range of complex fee types, manage and audit-trail the generation and approval of invoices and accruals, and analyze billing and accrual data. In 2004, Mellon made a strategic decision to integrate Revenue Manager into its outsourcing platform. Now calculating fees and generating invoices with Redi2, IMS will license Revenue Manager to provide billing and revenue accounting services to its clients.
"The advanced rules-based functionalities of Redi2 Revenue ManagerTM allow our platform to accommodate a wide variety of fee schedules and billing formats," said Jeff Nachman, head of the Mellon IMS service delivery team. "Redi2âs ability to deliver a highly integrated solution while also meeting a rigorous project timeline contributed significantly to the success of this project."
"Given Mellonâs stature as a leading global provider of asset management outsourcing services, we are very excited that IMS is leveraging Revenue Managerâs multi-firm, single-site architecture to meet the stringent service-level demands of its investment management clients," said Seth Johnson, CEO of Redi2 Technologies.