ZURICH – March 31, 2003 - “Unprecedented gains in operational efficiencies” are reported by firms using Geneva, the revolutionary portfolio accounting software from Advent Software, Inc. The software's unique technology allows organizations using it, to realize tenfold productivity gains.
“The amount of time and effort that we used to spend on correction of errors on trades and everything resulting from it was seriously hampering our ability to develop our business. All this work has now been completely eliminated allowing us to concentrate on more value adding activities.” Says Mike Wyne, Managing Director of Fischer Francis Trees & Watts, a fixed income investment specialist with more than 30 years' experience managing exclusively fixed income assets for large institutional clients. “Now that we have been in production for a while, we are even more sure that we made the right decision to purchase Geneva. It's simply amazing what revolution this unique technology enables us to undertake.” Mike Wyne concludes.
Official Geneva Launch in Europe
With more than 30 firms attending and more than 60 attendees, the March 18th Advent Seminar at Great Eastern Hotel in London, was remarkably well attended and described as a brilliant event with excellent speakers.
Mr. Mike Wyne of Fischer Francis Trees and Watts, received excellent feedback from the audience on his enthusiastic client presentation. They started the implementation process of Geneva in April 2002 and went live with its first accounts in September 2002. Since the implementation, having already experienced an increase in operational efficiencies and productivity, Wyne claims they are an even better reference today.
A Unique, Revolutionary Solution
Geneva is the industry's first global investment accounting solution to solve the complex challenges global asset managers face when accounting for high volume, traditional, derivative, domestic and global investment strategies, as well as when integrating accounting data into their straight-through processing (STP) infrastructure. Geneva's innovative technology allows firms to reduce operating costs and minimize operating risk far beyond levels previously attainable with traditional systems.
“Asset Management firms are under tremendous pressure to adapt to changing investment strategies while closely managing operating costs. A large portion of their back office expense is in the portfolio accounting domain. Replacement costs are high, so the best reason to replace a system is if there is a substantial technology innovation in the marketplace that enables huge gains in productivity and profitability. This is where Geneva comes in.”, says Wendy Goodrich, Director of the Geneva Business Unit in Europe.
About Advent Europe
Advent Europe is a leading provider of investment management solutions throughout Europe. Established in 1998 as an independent distributor and support organization of Advent Software, Inc.® products, Advent Europe now has local presence across the continent. Since 2001, Advent Software has acquired Advent Europe distributors in Denmark, Greece, Norway and Sweden.
Advent Software, Inc. has been providing trusted solutions to the worlds' leading asset managers since 1983. Firms in 55 countries use Advent technology to manage investments totalling more than US $8 trillion. Advent's quality software, data, services and tools enable managers to improve service and communication to their clients, allowing them to grow their business while controlling costs. Advent's common stock is traded on the NASDAQ National Market under the symbol ADVS.
Advent Software, Inc. is located at 301 Brannan Street, San Francisco, CA 94107, telephone +1 415 543 7696, www.advent.com. Advent Software, Inc. is a registered trademark of Advent Software. All other products or services mentioned herein are trademarks or registered trademarks of their respective companies.
Anne Line Lande, Marketing Manager