SOURCE: Bonaire Software Solutions, LLC

June 23, 2008 09:59 ET

Threadneedle UK Selects Bonaire's REVPORT™ Revenue Management Suite

Following a Comprehensive, Tender-Based Selection Process Another Blue-Chip Asset Manager Joins Bonaire's Expanding Client Base

LONDON--(Marketwire - June 23, 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 Threadneedle Investment Management Services Limited (Threadneedle). Headquartered in London, UK, Threadneedle chose Bonaire after carrying out a rigorous, business-driven, tender-based selection process with multiple vendors. Threadneedle's acquisition of REVPORT™ will deliver tangible business benefits, including:

--  Lower operating costs and improved efficiency through the replacement
    of manually intensive spreadsheet-based processes
--  Automation of existing manually-based performance fee calculations
--  Provision of a scalable platform that will underpin planned business
    growth without a commensurate increase in operating costs
--  Centralisation of billing data to improve access to management
    information
--  Provide the foundation for comprehensive financial modeling,
    forecasting and analysis
    

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.

"After a comprehensive trawl of the market and a rigorous selection process, Threadneedle was very comfortable with their decision to implement REVPORT™," said Gary Watts, UK MD of Bonaire. "It was important for Threadneedle that not only did they select the best solution but also a company that could be considered a strategic partner. Bonaire's comprehensive understanding of their needs and commitment to working with them to deliver market-leading revenue modeling, forecasting and analytical functionality, alongside our proven billing engine, cements this mutually rewarding relationship."

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
--  Allow revenue modeling, forecasting and analytics to be performed
    using actual billing rules and schedules
--  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 Threadneedle

Threadneedle Investments was founded in 1994. It actively manages £63 billion* of assets providing investment solutions for pension schemes, insurers, private investors, corporations, mutual funds and affiliate group companies.

*US$ 125 billion, EUR 79 billion. Source: Threadneedle, as at 31 March 2008.

Threadneedle has investment expertise across equities, bonds, property and hedge funds with over 130 talented investment professionals all based in London.

Threadneedle reaches customers in 15 countries, across four continents and has over 600 staff members in nine locations: United Kingdom, France, Netherlands, Germany, Austria, Switzerland, Spain, Italy, Sweden, Denmark and Hong Kong.

For more information, visit www.threadneedle.com

Threadneedle is the international investment platform and subsidiary for Ameriprise Financial, a leading US financial planning and services company with more than 12,000 financial advisors and registered representatives that provides solutions for clients' asset accumulation, income management and insurance protection needs. Ameriprise Financial was formerly known as the American Express Financial Corporation. It is an independent, publicly traded company (NYSE: AMP).

For more information, visit www.ameriprise.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