Advent Software, Inc. (NASDAQ: ADVS), the leading provider of software and solutions for the investment management industry, today released Advent Revenue Centerâ¢, an advanced billing and revenue management tool that enables asset management organizations to control and streamline the billing process.
Many asset management firms face a complex task each month in managing multiple billing structures that are tailored to the specific needs of individual clients, resulting in a costly and lengthy billing process. Advent Revenue Centerâ¢ builds on Adventâs proven expertise in automating mission-critical business processes and offers investment managers a solution to eliminate redundant manual work, minimize billing errors and reduce the amount of time spent each month on billing.
Sterling Capital Management, LLC is one of several Advent customers already benefiting from Advent Revenue Center. âAdvent Revenue Centerâ¢ is robust enough to handle our complex requirements, itâs easy to use, it integrates seamlessly with our portfolio management system, and it can support our firmâs future growth â it was exactly what we were looking for,â said Cathy Sawyer, Executive Director at Sterling Capital. The firm uses Advent Portfolio ExchangeÂ® (APX) for portfolio management and reporting, and Advent Revenue Centerâ¢ integrates easily with APX to leverage the systemâs relevant portfolio data. âWe used to have bills take over a month to get out the door,â Sawyer continued, âWith Advent Revenue Centerâ¢, the bills generate in no time at all. Itâs really been a great solution for us.â
Advent Revenue Centerâ¢, which is based on the technology gained through Adventâs acquisition of East Circle Solutions, automates complex billing processes, from fee structures to collections. It boasts robust reporting features, including full audit-trail capabilities, and enables asset management organizations that use Advent Portfolio ExchangeÂ® or AxysÂ® to seamlessly integrate portfolio data. Advent Revenue Centerâ¢ delivers increased efficiency and productivity throughout the entire billing process and builds business intelligence that enables investment managers to manage their revenue effectively. The product utilizes a rules-based structure and is built on industry-standard SQL and .NET technology.
âAdvent is excited to offer a solution that consolidates the entire revenue-management process, which will increase business intelligence for our customers and help them deliver superior service to their clients,â said Stephanie DiMarco, founder and CEO of Advent. âI am very pleased that weâre able to grow our suite with a product that is a natural extension of our core expertise and, most importantly, answers a clear need for our customers. With the launch of Advent Revenue Centerâ¢, the company is delivering on our vision to provide the investment management industryâs most comprehensive suite of mission-critical software and services.â