San Francisco, June 13, 2005 – Advent Software, Inc., (NASDAQ: ADVS), announces that Indus Capital Partners LLC has successfully completed its implementation of Geneva®, the industry’s premier global investment accounting solution. Geneva® solves the complex challenges faced by global asset managers, mutual funds, hedge funds, fund administrators and prime brokers, with speed and efficiency unmatched in the marketplace today.
Indus Capital Partners, a U.S.-based hedge fund manager with offices in London, Hong Kong and Tokyo, with over $2.6 billion in assets, and specializing in the Asian markets, selected Geneva® for its back office operations because of its broad instrument coverage and general ledger reporting capabilities. “We were at the point where building scale and best practices into our infrastructure was one of our mission-critical initiatives as a firm. By implementing Geneva®, we were quickly able to add layers of control to our processes, and at the same time provide our front-office with the confidence that we could support multiple asset classes and funds in a very efficient, scalable manner. The marginal cost necessary to support our future growth has certainly declined,” said Jim Gallagher, a managing director at Indus Capital.
geneva® features a large inventory of security types and transaction coverage, helping firms react to changes in business climate by handling both existing and future investment opportunities. Geneva® is currently used by six of the top 10 global fund administrators and seven of the top 10 global prime brokers.
“From the sales and implementation processes, through production support and migration, to new releases, Advent is focused on delivery. We have found client success the most valuable asset in our efforts to gain new clients and grow our business,” said Peter Hess, senior vice president and general manager of Advent’s Global Accounts.
Advent’s Consulting Services team employs a specialized, scalable and repeatable project management methodology to ensure software implementations are on time and on budget. Through the use of implementation methodology co-developed with IPS Associates and Stanford University, Advent’s team of implementation specialists work with clients to define requirements, organize resources, plan and closely track progress on the software implementation. The Indus implementation was finished on January 1 of this year, and Indus has been in production since that date.
Advent Software, Inc., (www.advent.com) a multi-national company, has been providing trusted solutions to the world's leading financial professionals since 1983. Firms in 50 countries using Advent technology manage investments totalling more than US $8 trillion. Advent's quality software, data and services enable financial professionals to improve service and communication to their clients, allowing them to grow their business while controlling costs.
ADVENT and GENEVA are registered trademarks of Advent Software, Inc. or its subsidiaries. All other company names or marks mentioned herein are those of their respective owners.
Kathleen Golden, Advent Software
Jacqueline Chen, Ogilvy Public Relations