Pendo Systems Moves Investment Accounting Engine to Tier 3 Infrastructure as a Service Platform

Seattle, WA - 28 January 2008

Tier 3 the Infrastructure as a Service (IaaS) platform experts, today announced that Pendo Systems, a leading provider of financial accounting solutions has chosen Tier 3 to help deliver its BasisPoint® investment accounting product.

In preparation for Pendo Systems’ planned move to SaaS delivery, the company realized it needed higher volume and superior services usually found with the typical Managed Service provider. Pendo Systems found those services in Tier 3’s IaaS Platform. In addition, Pendo Systems sought not only an IT platform to deliver BasisPoint, but to also provide an environment for their customers, whose application needs demanded a dedicated and customized environment. They found both in Tier 3. Pendo Systems will also be reselling Tier 3’s services as a dedicated platform to their clients.

Pendo Systems’ core product, BasisPoint, is a global enterprise-grade investment accounting engine that is multi-currency, multi-basis and multi-client. It incorporates a full suite of process modules to manage investment trading and operations from the front office through the back office. The BasisPoint software features a unique, sophisticated functionality that is rapidly becoming the new standard in investment accounting system delivery.

Kaj Pedersen, COO, Pendo Systems, said, "In today’s competitive environment, Pendo Systems saw the need to move our product delivery method to a service. The Tier 3 IaaS platform is a great solution for Pendo because it provides a proactive approach to delivering our applications, multi-point customer experience monitoring and application monitoring.”

Jared Wray, Principal, Tier 3, said, "Pendo Systems’ story makes clear how Tier 3 is different from other managed hosting providers. Like Pendo Systems, any software provider or Web company that is running a live application to provide a service to users via the Web needs much more than a place to park its Web pages and underlying program code. Tier 3 has expertise in all aspects of Web application delivery and we handle all the details, so Pendo Systems and on-demand companies like it can focus on their core businesses."

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