The new service enables Redi2 clients to receive consolidated data, such as market values, contributions and withdrawals, from custodians in a single file that is then imported directly into Redi2 Revenue Managerâ¢. Because the aggregated custodian data is preformatted for Redi2 Revenue Manager, users can calculate fees and generate invoices or direct debit feeds quickly and more efficiently, without manual intervention or data entry.
âWith this alliance, Redi2 clients can streamline the steps needed to achieve accurate and centralized billing when aggregating data from multiple custodians in various formats,â says Redi2 Technologies Chief Executive Officer Seth Johnson. âWe are confident that Electraâs unsurpassed quality, timeliness and secure data delivery will help clients meet this objective.â
âOne of the challenges organizations face in implementing world-class systems is integrating them,â says Electra Information Systems Managing Director Ian Danic. âRedi2 brings to the table its expertise in sophisticated fee and revenue management processing and Electra provides data aggregation and transformation from virtually all custodians.â
Redi2 Revenue Manager automates account setup and termination, invoice generation, fee/payment reconciliation as well as adjustments and reversals. Redi2âs award-winning fee billing software helps global financial firms streamline operations and improve cash flow, reduce processing costs, enhance client service and meet increasingly rigorous regulatory and compliance obligations.