Electra Information Systems, a leading provider of post-trade solutions for the institutional investor marketplace, including trade settlement, reconciliation, data collection and aggregation, has introduced eSTaARS, its software as a service (SaaS) based reconciliation and data aggregation service. Institutional investment managers and hedge funds are now able to leverage the benefits of web-based, on-demand software usage to effectively manage reconciliation processing.
With todayâs volatile and demanding market conditions, there is an increased need for more frequent and efficient reconciliation processes in order to reduce risk, as well as costs. eSTaARS combines Electraâs comprehensive, customizable data collection and aggregation service with its sophisticated, world-class, internet-based reconciliation solution, so investment managers need only focus on resolving exceptions. âWe manage the entire process, from collecting, normalizing and aggregating data from multiple sources, to processing the reconciliation and providing workflow and exceptions management,â says John Landry, Chief Executive Officer at Electra. âAnd because both the data and the software are provided by a single vendor, eSTaARS is truly a seamless, turnkey solution to lowering costs and reducing operational risk.â
âTraditional reconciliation processes are cumbersome and prone to errors. Some service providers claim to eliminate the manual task of ticking and tying, only to replace it with an onerous effort to converge data from internal systems and external suppliers,â Ian Danic, Managing Director at Electra, adds. âWith eSTaARS we are able to offer investment managers a turnkey reconciliation solution that is fully flexible and scalable. Firms do not need to sacrifice in order to achieve best practice reconciliation processing. Moreover, there is no need for expensive technical staff or infrastructure.â
âWe have achieved significant efficiency gains and cost savings with eSTaARS,â says Stephen Simmons, CFA and Director of Operations at DDJ Capital Management. âWith eSTaARS, data collection and reconciliation are seamless. Everything is prepared and ready when we arrive in the morning, so our staff can spend their time resolving real problems rather than trying to discern what the problems were in the first place.â On the selection of Electra, Mr. Simmons observed, âElectra really listens to their clients. Their approach to enhancements and their willingness to make continuous improvements to their products is refreshing.â
Clients also benefit from the obvious savings afforded by the SaaS model. Electra hosts the application in its secure, state-of-the-art data center. There is no need for investment managers to acquire hardware or software, so they can focus budgets on their competitive strengths rather than infrastructure. Commenting on costs savings, Simmons adds, âThe low upfront costs and flexible volume-based pricing are particularly attractive. We do not have to compromise on functional needs or operational performance with eSTaARS.â