SAN FRANCISCO and LONDON – May 20, 2008 – Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and solutions for the global investment management industry, today announced that Quintillion Ltd. has been enjoying the benefits of Geneva®, Advent’s award-winning portfolio management and fund accounting solution. Launched in late 2006, Quintillion is a hedge fund administrator based in Dublin, Ireland with $4.5 billion in assets under administration.
Quintillion was looking for a technology platform that would automate the accounting process, scale with its growing business and have the name recognition to inspire confidence in potential clients. When the doors opened in 2006, Quintillion implemented Geneva®, with which the firm’s members and its prospective clients were highly experienced and familiar. In addition, Quintillion took advantage of Workflow Manager, Geneva®’s built-in enterprise application integration toolkit.
Workflow Manager enables firms to integrate Geneva® quickly and easily with other applications, thereby increasing the level of automation and efficiency. This increased connectivity with clients and counterparties reduces manual intervention and the risk of errors, and effectively eliminates manual workarounds and offline processing. Workflow Manager also provides the flexibility that is needed to develop customized reporting output and data extracts. For Quintillion, Workflow Manager has allowed the firm to easily develop connectivity with its internal systems, external data sources and clients.
“Using Geneva®’‘s Workflow Manager contributes to our overall operational efficiency and definitely helps us achieve lower operational costs,” said Charles Gillanders, Chief Information Officer, Quintillion Ltd. “The combination has been critical to us achieving our goals, while maintaining the moderate staffing we currently have in place. Workflow Manager has been essential to us in being able to offer our services in an automated fashion.”
Added Gillanders, “It helps immensely that Geneva® enjoys a leadership reputation among hedge fund managers. It is a definite win for us to be able to say that we use Geneva® and have a staff that knows the software inside and out.”
“We are very pleased for Quintillion to be part of our global community of over 150 investment management firms committed to Geneva® to support their growth objectives and achieve operational efficiency,” said Todd Gottula, Senior Vice President for Product Development, Client Services and Support and Co-Head of Global Accounts at Advent. “It is gratifying to hear how the combination of Geneva® and Workflow Manager has helped Quintillion grow quickly to a competitive position in the marketplace.”
Quintillion, a full service hedge fund administrator based in the heart of Dublin’s financial district, launched in 2006 and currently has $4.5 billion in assets under administration. Focusing on strong relationships and personalized attention for mid-sized clients, Quintillion offers a range of services supported by world-class technology.
Geneva®, a global investment management and accounting platform, is a proven solution for asset managers, hedge funds, fund administrators, prime brokers, and mutual funds that require a high level of operational efficiency and easy access to real time data. Geneva® offers comprehensive instrument coverage, full financial general ledger, and industry-standard integration tools enable firms to manage complex investment vehicles, multiple investment strategies, and tiered fund structures. For more information on Geneva® visit https://secure.advent.com/info/pr_geneva.
Advent Software, Inc. (www.advent.com), a global firm, has provided trusted solutions to the world’s leading financial professionals since 1983. Firms in 60 countries use Advent technology and manage investments totaling nearly US $18 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 Service Capability and Performance certification for being a world-class support organization. For more information on Advent products visit http://www.advent.com/about/resources/demos/pr.
The Advent logo and Geneva are registered trademarks of Advent Software, Inc. All other company names or marks mentioned herein are those of their respective owners.
Advent Software, Inc.