Advent OnDemand® Now Available In The Nordics

Advent OnDemand® Now Available In The Nordics

Advent Launches Managed Service Offering for Investment Managers and Signs First Regional Client

OSLO – December 8, 2011 – Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, today announced that its wealth management solution is now available to investment managers in the Nordics via Advent OnDemand®, Advent’s Software as a Service (SaaS) offering. Terra Forvaltning, a Norwegian asset manager, is the first client in the region to select this new solution.

More than 60 Nordic clients are currently running on Advent’s wealth management solution, which has been successfully implemented in the region over the past fifteen years and includes support for local reporting requirements, banks and custodians. With Advent OnDemand®, the solution is now available as a SaaS deployment. This managed service deployment option offers clients increased flexibility, scalability and the benefits of industry leading portfolio accounting and management solutions, with reduced IT responsibility and lower total cost of ownership.

For investment management firms who want lean operations and a flexible technology platform to support their growth, SaaS solutions offer a host of benefits including the opportunity to take advantage of new innovations more rapidly, cost benefits and increased scalability, when compared to internally hosted platforms.

“We are a long-standing client of Advent, and we saw Advent OnDemand® as a great opportunity to upgrade to Advent’s latest wealth management solution without requiring the infrastructure we would have needed to set it up in-house,” said Kjetil Evjen, Head of Mid-office, Terra Forvaltning. “This is quite an exciting development, and we’re counting on Advent OnDemand® to support our growth plans.”

With Advent OnDemand®, investment managers retain complete control over operations and data while Advent manages the hardware and software administration, updates and patches, while maintaining performance levels typical of an in-house platform installation.  Built-in disaster recovery and full access to Advent’s client service and locally-based technical support team offer clients additional peace of mind that their critical business functions are being looked after by qualified experts. 

“We are in business to develop solutions that support our clients’ growth and success.  With Advent OnDemand®, investment management firms can apply available resources toward focusing on their clients, and Advent delivers the platform and services to support their objectives,” said Håkan Valberg, Senior Vice President and General Manager, Advent Software EMEA. “For investment managers in Norway, Advent OnDemand® offers the control and flexibility of Advent’s award winning wealth management solutions and helps firms free up time and resources previously dedicated to infrastructure maintenance.”

About Advent
Advent Software, Inc., a global firm, has provided trusted solutions to the world’s financial professionals since 1983.  Firms in more than 60 countries rely on Advent technology to run their mission-critical operations.  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 Service Capability and Performance certification for being a world-class support and services organization.  For more information on Advent products visit http://www.advent.com/about/resources/demos/pr.

Advent, the Advent logo, Advent Software, Advent Portfolio Exchange and Moxy are registered trademarks of Advent Software, Inc.  All other company names or marks mentioned herein are those of their respective owners.
 
Contacts:
Smita Topolski
Advent Software, Inc.
+1 415 645-1668
stopolsk@advent.com   

Daphne Marciel
Advent Software EMEA
+44 20 7631 9240
daphne.marciel@advent.com