Hosted revenue management system provides easy way for financial services firms to calculate fees, bill and track assets
Redi2 Technologies, the leading provider of hosted fee billing and revenue management solutions for the global financial services industry, today announced that Standard Life Wealth has deployed its Revenue Manager software.
Redi2 Revenue Manager™ is a hosted fee billing and revenue management solution that provides organizations with intelligent workflow and exception management functionality, and supports a wide variety of asset aggregation methodologies. Additionally, Revenue Manager calculates for different tax rules, calculates performance fees and generates invoices.
Standard Life Wealth, based in the UK, is a wealth management service and one of many subsidiaries of Standard Life plc., a provider of long term savings and investment. In September the company acquired Newton Private Clients from Newton Management Limited, also of the UK. The combined businesses have £5.8 billion in assets under management.
“We chose to work with Redi2 Technologies because of their domain expertise, professionalism and proven track record of excellent customer service, delivering even the most complex implementations on time and within budget,” said Karen Storie, Standard Life Wealth’s Chief Operating Officer. “Additionally, their robust, hosted revenue management platform provides state-of-the-art fee calculation, billing, collection and business planning functionality, providing a scalable platform to support our growth aspirations.”
“We’re happy to call one of the world’s oldest financial services firms our client and partner,” said Francisco Ceballos, Managing Director of Redi2’s institutional asset management line of business. “The robust feature set of Revenue Manager is just what Standard Life Wealth needed to streamline, track and administer its private client fees.”
Redi2 Revenue Manager is part of Redi2’s portfolio of hosted solutions including Redi2BIPS, an analytic application for data mining and reporting of fee billing data, and Redi2 Collect, for automating the collections process.
Since its inception, Redi2 has been focused on hosted fee billing solutions. The SaaS model has proven beneficial for many enterprises as they look to reduce licensing and maintenance costs of formerly on-premise solutions.
In January, Redi2 announced the successful completion of its SSAE No. 16 SOC Type 1 and Type 2 audits. As a result, Redi2’s clients are assured, and can assure their clients, that their hosted revenue management solution offers the security, redundancy, and process controls that a system containing such sensitive data as account and fee details should provide.