Bonaire Software Solutions, LLC, a leading provider of software solutions for investment managers, mutual funds, wealth managers and capital markets firms, today announced an enhanced REVPORT™ solution for fund managers, fund distributors and fund administrators that simplifies and automates the intermediary invoice reconciliation process.
Many fund companies have multiple intermediary relationships with complex payout terms which make payments to distribution partners difficult to reconcile. REVPORT enables firms to calculate the distribution fees and compare them to invoices received from their distribution partners and quickly reconcile any variances. By improving the invoice reconciliation process, fund firms are able to produce full audit trails on how fund rebate fees were calculated which allows fund companies to insure accuracy and faster payout of the fees to their intermediary partners.
“Fund companies and administrators have been searching for a solution like Bonaire’s REVPORT to help them validate distribution expenses and account for the terms and conditions of the contracts governing these relationships,” comments Chris John, CEO of Bonaire. “REVPORT allows managers to reconcile fees at multiple levels which ultimately leads to minimizing costs and paying fees owed more efficiently.”
Bonaire’s REVPORT software automates the process for calculating fees and the reconciling and processing of intermediary invoices. Firms can also utilize Bonaire’s EMPOWER BI™ software to measure the efficiency, value/cost ratio and profitability of their distributor relationships. As a result, fund companies and administrators are now able to both ensure the accuracy of their fund rebate payouts and pursue their most profitable distribution partners.