London, UK â January 5th, 2005 âFundWorks UK Limited (FundWorks), a specialist provider of asset management reporting solutions, today announced that is has signed a strategic reseller agreement with Actuate, the World leader in enterprise reporting applications. FundWorks has already adopted Actuate as the underlying reporting engine for FundReports, its client reporting application for asset managers.
Actuate selected FundWorks as a strategic partner in its UK Reseller Programme because of its unique focus and experience in the asset management industry. Richard Sheppard, VP EMEA, Actuate said "We are delighted to welcome FundWorks into the Actuate reseller programme. This strategic alliance is the first of its kind and enables us to build on the core strengths of the Actuate Enterprise Reporting platform by extending its reach into the asset management market with a respected and knowledgeable partner."
By strengthening the partnership, FundWorks is uniquely able to provide a one-stop client reporting solution for asset managers. FundWorksâ industry experience will enable Actuate to further penetrate the asset management market. The move constitutes an important commercial opportunity for FundWorks and will also increase the power and efficiency of FundWorksâ products through enhanced collaboration between the two companies.
Philip Goffin, FundWorks Managing Director said "Forging closer ties with Actuate represents a significant strategic move for our business. Apart from a new revenue stream and our vested interest in strong Actuate sales, a stronger and more dedicated relationship with Actuate will help us develop better tools and deliver more powerful solutions to our customers."
Peter Ellis, Principal at Investit, a specialised consultancy to the industry, comments: "Companies like FundWorks are very good news for asset managers, as they combine knowledge of the industry with the power of platforms like Actuate. The result is flexible client reporting solutions, designed specifically for the asset management worldâ. Specifically on becoming an Actuate reseller, Dr. Ellis thought that âit will make life easier for asset manager buyers who only have to go to one place for a complete, integrated solution".