Bonaire Licenses REVPORT(TM) Fee Billing and Accounts Receivable
Suite to Transamerica Investment Management, LLC
BOSTON, MA--(Marketwire - June 03, 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
Transamerica Investment Management, LLC ("TIM").
The REVPORT Fee Billing and Accounts Receivable suite automates the
entire Revenue/Fee calculation and collection process. The solution
is specifically designed to meet the complex needs of large
multi-currency global users. REVPORT takes in data feeds 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 A/R and Collection
functionality significantly optimizes the payment matching functions
and automates the associated FX Gain/Loss transactions sequence.
"We compared Bonaire's REVPORT to other systems and thought the user
interface was very intuitive and much easier to use. In addition, the
Bonaire team really impressed us with their understanding of our
business and their approach to solving some of the unique and complex
revenue management challenges facing investment management firms. We
are excited to be fully integrating REVPORT into our back office
platform," said Travis Weimer, Chief Financial Officer at TIM.
REVPORT(TM) creates compliance-driven audit trails further
eliminating manual processes, which are labor intensive and error
prone. TIM will be 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 Transamerica
Investment Management 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 tremendous client base consisting of the world's leading
asset managers, all of whom have come to trust our products and
services."
REVPORT Revenue Management Key Features:
-- Automates revenue management process related to fee billing and
accrual computations
-- 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
-- Dramatically improves the A/R and Collections functions via
intuitive
payment matching algorithms and automates the associated FX
Gain/Loss
transactions sequence
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 and clearing, wealth management and
retirement services providers. Products include REVPORT(TM), a
Revenue Management and Fee Billing application, and RECAST(TM), a
transfer pricing and revenue reallocation module providing revenue
reallocation with conditional rules based logic that creates real
time revenue and expense reports. Based in Boston, MA, Bonaire is a
privately held company founded in 1999. Please visit
www.bonairesoft.com.
About Transamerica Investment Management, LLC
At Transamerica Investment Management, experience and observation
have convinced us that certain traits are indispensable to the goal
of delivering investment success over long periods of time. We are
committed to cultivating these essential characteristics within our
company, so that we may strive to exceed our clients' expectations
for absolute and relative investment performance. We undertake to:
-- Place clients' interests first and foremost.
-- Set and adhere to the strictest standards of professionalism and
integrity.
-- Build a team of individuals who possess the unique
characteristics to
be successful asset managers.
-- Enable their success with a time-tested investment process and a
challenging but supportive working environment.
-- Combine experience and judgment with conviction in every aspect
of
managing our clients' money.
Transamerica Corporation, including its subsidiary TIM, is a member
of the AEGON Group, a multinational insurance organization
headquartered in The Hague, The Netherlands. AEGON is one of the
world's leading life insurance and financial services organizations.
MEDIA CONTACT:
Scott Fitzpatrick
Bonaire Software Solutions
617-338-0107 ext. 116
sfitzpatrick@bonairesoft.com
