LONDON and SAN FRANCISCO, September 5, 2013 – Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, today announced that Veritas Asset Management LLP has implemented the latest version of Advent’s award-winning Advent Portfolio Exchange®(APX), which is helping them continue to develop and grow their business.
An Advent client since 2006, Veritas has seen its assets grow from £1 billion ($1.5 billion) to £9.4 billion ($14.8 billion) in the time since it first implemented APX. According to James Spence, Investment Operations Manager for Veritas, “Working with Advent solutions has supported our almost exponential growth with a minimal increase in headcount. APX has given us the scalability and flexibility to manage the kind of growth we were hoping to achieve – and ultimately did.”
With a mix of globally diversified client portfolios and a series of funds focused on Asia, Veritas was especially interested in the enhanced global capabilities in APX. “Throughout our relationship with Advent, we have seen the company become increasingly global in its outlook, and that is reflected in these enhancements,” Spence said. “Now we have a true multicurrency system, allowing us to trade and settle around the globe, which is important to our business.”
“We believe it always pays to be on the latest version of our core portfolio management system,” Spence said. “We get the benefits of Advent’s latest enhancements, and it makes it much easier from a support perspective.”
Having been through a number of upgrades in the past, Spence added: “The upgrade process has become much easier over the years. Advent has a team dedicated to making sure upgrades are managed properly and run smoothly, and the people on that team are of a very high caliber. They came in well within budget and the conversion was done the same day.”
According to Hakan Valberg, President EMEA, Advent Software, “One of our key initiatives at Advent is to enable our clients to take advantage of new functionality easily and efficiently, making our solutions easy to adopt. The experience with Veritas demonstrates that firms can upgrade to the most current version with little disruption and at a reasonable cost.”
Advent Software, Inc. (www.advent.com), a global firm, has provided trusted solutions to the world’s financial professionals since 1983. Advent’s proven solutions can increase operational efficiency, reduce risk, and eliminate the boundaries between systems, information and people so you can focus on what you do best. With more than 4,500 client firms in over 60 countries, Advent has established itself as a leading provider of mission-critical solutions to meet the demands of investment management operations around the world. 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.
About Advent Portfolio Exchange®
Advent Portfolio Exchange® (APX) is an end-to-end portfolio management solution that integrates the front-office functions of prospecting, marketing, and customer relationship management with the back-office operations of portfolio accounting and reporting. This enterprise solution leverages a single SQL database to deliver critical client information via an easy-to-use browser-based user interface. APX delivers improved client service with enhanced security for today’s amplified compliance environment. For more information on APX visit https://secure.advent.com/info/pr_apx.
Advent, the Advent logo, Advent Software and Advent Portfolio Exchange are registered trademarks of Advent Software, Inc. All other company names or marks mentioned herein are those of their respective owners.
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