SOURCE: Bonaire Software Solutions

May 05, 2008 15:36 ET

Bonaire Licenses REVPORT™ Revenue Management and Accounts Receivable Suite to Dwight Asset Management Company

BOSTON, MA--(Marketwire - May 5, 2008) - Bonaire Software Solutions, a leading provider of financial services software solutions to investment managers, mutual funds, wealth managers, broker dealers and RIAs, announced that its REVPORT Revenue Management and Fee Billing application has been selected by Dwight Asset Management Company Headquartered in Burlington, VT.

REVPORT software automates and calculates fees for the fee billing and invoice process. Bonaire's clients are able to calculate any type of fee for revenue streams, as well as fees and disbursements associated with accounts and portfolios. REVPORT takes in a data feed from the client's recordkeeping platform, undertakes complex rules-based calculations and then posts the fees to the general ledger, while automatically generating invoices.

"The Bonaire team really impressed us with their understanding of our business and their approach to solving some of the revenue management challenges facing investment management firms. We are excited to be integrating REVPORT into our back office platform," said Ted Laskaris, Chief Technology Officer at Dwight.

Within the institutional asset management industry, billing and fee calculations are notoriously complex and time consuming tasks. REVPORT will deliver a multi-currency, multi-lingual REVPORT™ and creates compliance-driven audit trails further eliminating manual processes, which are labor intensive and error prone. Advisers who use REVPORT are able to automatically calculate a variety of fees, including foreign currency, asset management, wrap, and performance. Sub-advisor payouts and commissions associated with accounts and portfolios are also automatically computed.

"We are extremely proud of our new relationship with Dwight and also having added another premier investment firm to our growing, global client base," said Scott Fitzpatrick, Vice President of Sales of Bonaire. "Since 1999 we have built a solid client base consisting of many of the world's leading asset managers, all of whom have come to trust our products and services."

REVPORT Key Features:

--  Automates revenue management and fee billing
--  Accounts receivables and collections
--  Multi-currency/Multi-lingual
--  Revenue forecasting
--  Calculates complex fees, accruals, produces invoices, generates all
    accounting and audit output
--  Centralizes fee calculation rules, embedding knowledge in the
    application and enhancing financial management and control
--  Seamlessly integrates with existing upstream / downstream financial
    management and reporting systems
    

About Bonaire Software Solutions, LLC

Bonaire is focused on providing product and service solutions to the financial services industry. Clients include industry leading investment managers, mutual funds, broker dealers, registered investment advisors, custody, wealth management, retirement services providers. Products include REVPORT™, a Revenue Management and Fee Billing application; RECAST™, a transfer pricing and revenue reallocation module providing revenue reallocation with conditional rules based logic. Based in Boston, MA, visit www.bonairesoft.com.

About Dwight Asset Management Company

Dwight Asset Management Company focuses exclusively on fixed income investment management services for institutional clients including retirement plans, corporations, public funds, insurance companies, financial institutions, endowments, foundations, and Taft-Hartley plans. We manage over $69.5 billion as of 12/31/07. Visit our web site at www.dwight.com

Contact Information

  • CONTACT:
    Scott Fitzpatrick
    Bonaire Software Solutions
    617-338-0107 ext. 116
    Email Contact