Advent Launches Advent Revenue Center™ to Automate Complex Billing Processes
Sterling Capital Management Already Live on Innovative Expansion of Advent’s Suite
SAN FRANCISCO – March 13, 2007 – Advent Software, Inc. (NASDAQ: ADVS), the leading provider of software and solutions for the investment management industry, today released Advent Revenue Center™, an advanced billing and revenue management tool that enables asset management organizations to control and streamline the billing process.
Many asset management firms face a complex task each month in managing multiple billing structures that are tailored to the specific needs of individual clients, resulting in a costly and lengthy billing process. Advent Revenue Center™ builds on Advent’s proven expertise in automating mission-critical business processes and offers investment managers a solution to eliminate redundant manual work, minimize billing errors and reduce the amount of time spent each month on billing.
Sterling Capital Management, LLC is one of several Advent customers already benefiting from Advent Revenue Center. “Advent Revenue Center™ is robust enough to handle our complex requirements, it’s easy to use, it integrates seamlessly with our portfolio management system, and it can support our firm’s future growth – it was exactly what we were looking for,” said Cathy Sawyer, Executive Director at Sterling Capital. The firm uses Advent Portfolio Exchange® (APX) for portfolio management and reporting, and Advent Revenue Center™ integrates easily with APX to leverage the system’s relevant portfolio data. “We used to have bills take over a month to get out the door,” Sawyer continued, “With Advent Revenue Center™, the bills generate in no time at all. It’s really been a great solution for us.”
Advent Revenue Center™, which is based on the technology gained through Advent’s acquisition of East Circle Solutions, automates complex billing processes, from fee structures to collections. It boasts robust reporting features, including full audit-trail capabilities, and enables asset management organizations that use Advent Portfolio Exchange® or Axys® to seamlessly integrate portfolio data. Advent Revenue Center™ delivers increased efficiency and productivity throughout the entire billing process and builds business intelligence that enables investment managers to manage their revenue effectively. The product utilizes a rules-based structure and is built on industry-standard SQL and .NET technology.
“Advent is excited to offer a solution that consolidates the entire revenue-management process, which will increase business intelligence for our customers and help them deliver superior service to their clients,” said Stephanie DiMarco, founder and CEO of Advent. “I am very pleased that we’re able to grow our suite with a product that is a natural extension of our core expertise and, most importantly, answers a clear need for our customers. With the launch of Advent Revenue Center™, the company is delivering on our vision to provide the investment management industry’s most comprehensive suite of mission-critical software and services.”
Advent Software, Inc. (www.advent.com
), a multinational firm, has been providing trusted solutions to the world’s leading financial professionals since 1983. Firms in 60 countries use Advent technology and manage investments totaling nearly US $14 trillion. Advent’s quality software, data, services and tools enable financial professionals to improve service and communication to their clients, allowing them to grow their business while controlling costs. Advent is the only financial services software company to be awarded the Support Center Practices certification for being a world-class support organization.
Advent, Axys, and Advent Portfolio Exchange are registered trademarks and Advent Revenue Center is a mark of Advent Software, Inc. All other company names or marks mentioned herein are those of their respective owners.
Any forward-looking statements included in this press release, including those pertaining to new products, involve risks and uncertainties that could cause actual results to differ materially from our expectations. These risks and uncertainties include market acceptance of new products, the impact of initiatives by competitors and other risks detailed in Advent’s filings with the Securities and Exchange Commission, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q, as amended, copies of which may be obtained by contacting Advent Software at (415) 645-1787 or by visiting Advent’s Investor Relations Web site at www.advent.com