Confluence, a provider of automated data management solutions, has launched Unity, an integrated platform that automates and integrates critical fund administration processes.
The platform now handles everything from collection, creation, confirmation and delivery of investment product data. Unity supports an array of products such as mutual funds, funds-of-funds, collective investment trusts, variable products, hedge funds and other alternative investments.
“Investment management companies invest million in IT infrastructure, but their back offices still rely on multiple manual processes and spreadsheets, which are unnecessarily time-consuming and error-prone,” said Kirk Botula, senior vice president and chief operating officer of Confluence.
“Given the unprecedented demands of investors and regulators for more frequent and complex delivery of information, the status quo is no longer an option,” he said.
Unity products solve a range of fund administration needs. They are available as stand-alone solutions, or as part of packages designed to work together such as for financial reporting or expense management.
Unity is built on a single unified database, enabling fund administrators to verify data accuracy, store the information and then reuse it for multiple purposes.
“The business results [of Unity] include eliminating errors, speeding up reporting, lowering process costs and gaining scalability to handle greater numbers of funds with fewer resources,” Botula said.