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LAKE SUCCESS, N.Y. – Mar. 20, 2014 – Bonaire, a Broadridge Financial Solutions, Inc. (NYSE:BR) company and leading provider of revenue and expense management software solutions for asset managers, mutual funds and capital markets firms, today announced the migration of their SaaS (Software as a Service) solution to the Broadridge hosting environment.
Bonaire offers its customers three distribution models: In-house installation, SaaS and Business Process Outsourcing. As a Broadridge company, Bonaire is supported by Broadridge’s more than 50 year history as the trusted and preferred choice to deliver services in operations infrastructure to the world’s prominent banks; retail, institutional and discount broker-dealers, clearing houses, mutual funds, hedge funds; and investment managers. Since 2008, Broadridge has maintained an ISO 27001 Certification for the facility and the Tier III plus data centers through which the SaaS services will be provided to help ensure the security of client data.
Gerard Scavelli, President, Mutual Funds and Retirement Solutions Group, Broadridge, commented, “We are pleased to bring our Bonaire revenue and expense management capabilities to the middle market on a managed basis. The deployment of this offering is the direct result of our ability to leverage Broadridge’s extensive IT expertise and proven hosting environment.”
Bonaire’s SaaS offering utilizes Broadridge’s dual hosting environment that is backed by the firm’s track record of providing secure and reliable solutions to the financial services industry. Bonaire’s SaaS offering will leverage Broadridge’s internal private cloud infrastructure, which allows for flexible, dynamic and automated rapid deployment of resources to effectively support both anticipated and unexpected client demand.
According to a recent Bonaire client survey, an overwhelming 92% of respondents cited improvements in process and efficiency as a factor in choosing Bonaire for revenue and expense management solutions. Bonaire helps customers uncover operating efficiencies by lowering the overall cost of ownership, reduce fee leakage and improve auditing and regulatory compliance. Bonaire’s SaaS offering can lower a firm’s IT costs, provide a secure, reliable and flexible infrastructure, and allows its customers to focus on their businesses, not hardware support.
“As part of Broadridge Financial Solutions, we are able to utilize Broadridge’s well-established hosting center to offer customers a premier hosting environment,” said Christopher John, President, Bonaire. “Our enhanced SaaS offering provides a secure, reliable and flexible solution that helps meet our clients’ revenue, compliance and expense reporting needs with a highly efficient delivery model. With the ability to offer three delivery models, we’re able to help asset managers, mutual funds and capital markets firms choose the right solution to improve operational efficiencies and enhance their financial performance.”
Bonaire offers broad, enterprise-grade solutions for its clients that focus on the processes around revenue and expense management. Capabilities include fee billing and expense calculations, accounts receivable and collections solutions, and business intelligence reporting.
Broadridge Financial Solutions, Inc. (NYSE:BR) is the leading provider of investor communications and technology-driven solutions for broker-dealers, banks, mutual funds and other corporations. Broadridge’s investor and customer communications, securities processing and managed services solutions help clients reduce their capital investments in operations infrastructure, allowing them to increase their focus on core business activities. With over 50 years of experience, Broadridge's infrastructure underpins proxy voting services for over 90% of public companies and mutual funds in North America and processes on average $5 trillion in equity and fixed income trades per day. Broadridge employs approximately 10,000 associates in 14 countries.
For more information about Broadridge, please visit www.broadridge.com.
Bonaire, a Broadridge company, delivers leading expertise in solving revenue and expense management challenges, providing unprecedented control and transparency to the finance department. Its core capabilities enable investment managers, wealth managers, mutual funds and capital markets firms to effectively perform complex calculations including but not limited to: revenue accruals and invoicing, distributor and advisor payouts, commissions and expense allocations. Bonaire became a Broadridge company in 2013. For more information please visit www.bonairesoft.com.
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