Parsec had recently experienced a rapid growth in assets, which placed significant strain on its manual, spreadsheet-based billing system, and the firm was looking for a solution that would significantly reduce manual processing, minimize billing errors and cut the amount of time and labor spent on billing. A long-time user of Adventâs AxysÂ® portfolio accounting solution, Parsec turned to Advent Revenue CenterÂ®, which is designed to integrate seamlessly with Adventâs portfolio management platforms, Advent Portfolio ExchangeÂ® and AxysÂ®.
âBy using the best technology to automate processes like billing, we can keep our support staff level and expenses down, so that as we add more clients we actually profit more. Plus, we are also providing much better service to our clients,â said Cristy Freeman, Senior Operations Associate at Parsec Financial Management.
âIt is a very affordable solution, especially when you look at the cost compared to your employeesâ time -- you canât pay an employee enough to sit there and do what Advent Revenue CenterÂ® does. We went from having six employees doing the billing to three; the savings in time and labor goes straight to the bottom line,â concluded Freeman.
âWe are pleased to provide our clients with a solution that controls and streamlines the billing process, and value the role that we play in our customers' plans for growth and success,â said Michele Holton, Director, Product Marketing at Advent. âWe are very excited to add Parsec to our growing list of clients using Advent Revenue CenterÂ®.