Buy-Side/Sell-Side Data Consistency and Expense Management Issues are Top Concerns, According to Bonaire Survey

• 67% of respondents cited implementing data consistency across business units as one of their biggest challenges
• 42% cited consolidating data from various systems as main obstacle with revenue reporting

LONDON & BOSTON--(BUSINESS WIRE)--Bonaire Software Solutions, LLC, a leading provider of revenue and expense management and business intelligence solutions to investment managers, mutual funds, wealth managers and capital markets firms, announced the results of a recent survey of EMEA investment managers on top operational concerns and objectives.

“The survey results show us that firms are still challenged with data consistency and accuracy which raises concerns considering today’s regulatory and auditing landscape”

Conducted at the Bonaire annual EMEA User Conference in London, the poll reveals that when it comes to revenue and expense management, the investment management industry is largely focused on data efficiency; 67% of respondents cited data consistency across business units as one of their biggest challenges with expense management.

Given the enormous stream of vendor data flowing in and out of investment firms – accounting staff members are challenged with disconnected business units and paying vendor invoices without having the chance to validate fees. As a result, investment firms lack confidence in the accuracy of their payments. The poll revealed that over half (57%) confessed to a lack of confidence in paying out distributor rebates.

“The survey results show us that firms are still challenged with data consistency and accuracy which raises concerns considering today’s regulatory and auditing landscape,” states Chris John, CEO of Bonaire. “Without the proper systems and practices in place to ensure data is consistent, firms risk overpaying vendor fees and have difficulty making strategic decisions without the right intelligence.”

Additional survey results include:

• 42% stated that consolidating data from various systems when faced with revenue reporting was a major challenge.
• Reconciliation stood out as the biggest concern in distributor rebate invoicing (60%).
• The most difficult task to overcome within the participants’ organizations was consolidating holistic data from all business units for cross-business reporting (46%).
• 57% of users of Bonaire REVPORT™ software say that the technology has already made a tangible impact on their profitability. REVPORT enables asset managers, mutual funds and capital markets firms to accurately capture and monitor data and reduce operational costs while decreasing billing and payment cycles.

“What’s clear is that the investment management industry needs to continue adopting the technology required to truly address reconciliation management processes,” continues John. “Even though industry confidence is lacking given the fragmented internal environment at most firms, there is enthusiasm for change. Firms are beginning to recognize the flaws in their current reconciliation management systems and are in search of more efficient methods of calculation.”

To learn more on Bonaire’s REVPORT technology, please visit: www.bonairesoft.com.

About Bonaire Software Solutions, LLC

Bonaire is focused on providing revenue and expense management and accounting software and services solutions to the asset management industry. Bonaire’s REVPORT software package automates the fee billing process. REVPORT is a revenue and expense management platform that performs fee billing calculations and aids in revenue management, commissions, accounts receivable, revenue sharing and forecasting. Clients include industry leading investment managers, mutual funds, wealth managers, banks/trusts and capital markets firms.

Revenue Management Software Products include:

• REVPORT™
  • Fee Billing and invoicing
  • Multi-currency & multi-lingual
  • Fund Rebates reconciliation for commissions, retrocessions and trailers
  • Revenue modeling and forecasting analytics
  • Revenue and expense reconciliation and allocations with transfer pricing
• PAYPORT – Receivables Management and Collections with payment matching
• EMPOWER BI – Business Intelligence & Management Information platform

Based in Boston, MA, and London, UK, Bonaire is a privately held company founded in 1999. For more information about Bonaire Software Solutions Revenue Management and Fee billing platform, please visit www.bonairesoft.com.