SOURCE: Bonaire Software Solutions, LLC

March 17, 2008 17:13 ET

Old Mutual Investment Group Selects Bonaire's REVPORT™

Bonaire Wins OMIGSA in South Africa, Representing the Twelfth New Client to Sign for Its REVPORT™ Solution Suite in 2007

LONDON--(Marketwire - March 17, 2008) - Bonaire Software Solutions, LLC, 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 Old Mutual Investment Group (South Africa) (Proprietary) Limited (OMIGSA). Headquartered in Cape Town, SA, OMIGSA chose Bonaire after carrying out a rigorous selection process with multiple vendors. OMIGSA's acquisition of REVPORT™ is of strategic importance and will deliver tangible business benefits, including:

-- Supporting their continued business growth without a commensurate
   increase in billing headcount
-- Reducing the billing cycle and improving cash flow
-- Centralizing billing data to improve access to management information
-- Providing the foundation for comprehensive financial analysis and
   modeling
-- Improving process rigor and transparency through a fully compliant
   application

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.

"Having conducted a comprehensive review of the solutions offered by a number of vendors, it became pretty clear that the combination of Bonaire and REVPORT™ provided OMIGSA with the strategic answer they sought," said Christopher Potgieter, OMIGSA CFO. "The combination of REVPORT™'s comprehensive functionality and Bonaire's commitment to working with us provided a compelling justification for our decision."

"2007 has been an incredibly successful year for Bonaire," said Gary Watts, UK MD of Bonaire. "The addition of OMIGSA to our growing portfolio of blue-chip clients signals our first win in South Africa and cements REVPORT™'s reputation as the world's leading revenue management solution." He added, "Bonaire recognizes South Africa as an important emerging economy, with world class firms engaged in the asset management business. As such we are excited to be making the commitment in introducing REVPORT™ to South Africa and, in particular, to financial services businesses like OMIGSA. We look forward to further strengthening our position within this market and to extending our reach with Old Mutual affiliated firms around the world."

REVPORT™ Revenue Management Key Features:

-- Automates revenue management and fee billing
-- Calculates complex fees, accruals, produces invoices and 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 services solutions to the financial services industry. Clients include industry leading investment managers, mutual funds, broker dealers, registered investment advisors, custody and clearing, wealth management and retirement services providers. Products include REVPORT™, a Revenue Management and Fee Billing application, and RECAST™, a transfer pricing and revenue reallocation software solution. Headquartered in Boston, MA, Bonaire is a privately held company founded in 1999. For more information about Bonaire Software Solutions, please visit www.bonairesoft.com.

About OMIGSA

Old Mutual Investment Group (SA) (OMIGSA) is a multi-boutique investment house encompassing all the investment businesses in the South African Old Mutual Group.

OMIGSA is comprised of 12 investment boutiques, all of which are performance-driven, independent and offer a focused range of products and capabilities to meet different client needs. Each boutique focuses on its own specialist investment area and is managed by a team of highly competent and experienced investment professionals.

For more information about OMIGSA, please visit www.omigsa.com

Contact Information

  • Media Contacts :
    UK
    Bonaire Software Solutions
    Gary Liley
    +44 (0) 207 763 6102
    Email Contact

    US
    Bonaire Software Solutions
    John Bosley
    001 617 338 0107 x122
    Email Contact