SAN FRANCISCO – February 10, 2010 – Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, today announced that it has seen more than 50% growth in its outsourcing client base over the past two years. The Company has nearly 500 clients leveraging its outsourcing services, which are now available under a services offering called Advent OnDemandSM. Advent OnDemandSM delivers Advent’s award-winning suite of investment solutions via a SaaS (software-as-a-service) model, with or without full business process outsourcing (which includes account aggregation, reconciliation and reference data management.)
With nearly 500 clients and a decade of outsourcing experience, Advent has the industry’s largest client base using its outsourced services. Advent OnDemandSM serves a growing number of market segments within the investment management industry, including independent advisors, RIAs, broker/dealers, wealth managers, private client services, family offices and asset managers.
TowerGroup Research Director, Dayle Scher, notes, “TowerGroup expects a strong increase in the adoption of SaaS solutions as a way for firms to address risk management challenges when they are short on internal resources. Vendors of back- and middle-office software that offer their applications as a service, in addition to traditional on-site installations, provide asset managers the opportunity to take advantage of best-of-breed offerings at a reduced total cost of ownership.”
"We selected Advent OnDemandSM because we needed powerful and proven tools to manage client portfolios and our business, but with the convenience, accessibility, and cost effectiveness of outsourcing,” said Damian Gallina, Principal, Buttonwood Financial Advisors. “Advent hosts our system, taking care of the maintenance, upgrades, and daily data management. Through nothing more than laptops, we gain access to everything we need, anywhere we are – and by partnering with Advent to manage our data, we are free to focus on our clients and their portfolios."
“Advent OnDemandSM allows firms to take advantage of Advent’s solutions with minimal technical and operational overhead, which results in increased business focus and lower total cost of ownership,” said Michael Lobosco, Director of Advent OnDemandSM. “With the delivery of Advent OnDemandSM, Advent offers total choice – giving clients complete flexibility when it comes to how they choose to get our products delivered, and what they rely on Advent to provide. This is a competitive differentiator for us; Advent is not limited, like ‘one size fits all’ providers, which gives us the ability to provide our clients with trusted and unbiased advice about what deployment choice best addresses their needs.”
For more information on Advent OnDemandSM visit http://www.advent.com/outsource.
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 our product demo page.
Advent, the Advent logo and Advent Software are registered trademarks of, and Advent OnDemandSM is a mark of Advent Software, Inc. All other company names or marks mentioned herein are those of their respective owners.
Advent Software, Inc.