Company makes major investment in upgrading CAMRA technical architecture and functionality to provide a next generation global investment accounting platform for insurance companies
SS&C Technologies Holdings, Inc. (Nasdaq:SSNC), a global provider of financial services software and software-enabled services, today announced a new release and major upgrade of the company’s CAMRA investment accounting platform.
“More than 50,000 hours have been invested in upgrading CAMRA, including leveraging the .NET framework to refactor or optimize CAMRA’s industry-standard library of yield and bond math functions,” said Timothy Reilly, Senior Vice President, Institutional and Investment Management. “This is a significant release for advancing our technical infrastructure and one of the most comprehensive and functionally rich new releases of CAMRA ever.”
Among CAMRA’s major new functional upgrades is the ability to configure and maintain an unlimited number of accounting bases or ‘books’ to support global accounting standards such as U.S. GAAP and IFRS, tax accounting, and regulatory reporting. Organizations with extensive multinational operations can now maintain an unlimited number of local, functional, base and reporting currencies. Multi-dimensional currency translation dramatically expands capabilities to address the increasingly complex demands of financial planning, analysis, regulatory, accounting and reporting needs encountered while operating on a global basis. Multinational companies can now maintain an unlimited number of functional and reporting currencies for all their subsidiaries in a single database without maintaining shadow portfolios for cross-matching to the general ledger.
CAMRA now provides expanded capabilities to support complex asset classes, including bank loans, commercial and residential mortgages, non-Agency securities, and servicing assets held by mortgage-REITs such as Mortgage Servicing Rights. Other major enhancements include even more robust global tax accounting support, with enhanced support for wash sales and the PAC Method.
The new version of CAMRA fully leverages SS&C’s new state-of-the-art SaaS platform for web-based portfolio management, analysis and reporting that the company will unveil at the Insurance Accounting & Systems Association Annual Conference, June 13-15, in San Antonio, TX.
SS&C is a global provider of investment and financial software-enabled services and software for the global financial services industry. Founded in 1986, SS&C is headquartered in Windsor, Connecticut and has offices around the world. Some 10,000 financial services organizations, from the world’s largest institutions to local firms, manage and account for their investments using SS&C's products and services. These clients manage an aggregate of over $44 trillion in assets.