Confluence opens San Francisco office
Confluence, a provider of automated data management solutions for the investment management industry, has opened an office in San Francisco. The company’s fourth office worldwide will enable Confluence to pursue its strategic acquisition goals, while leveraging the area’s top technology talent and serving the growing reporting, transparency and control demands of the region’s hedge fund community.
"As a strong investment banking centre and a region known for technology innovation, San Francisco affords Confluence excellent opportunities for strategic growth through acquisition and continued product innovation," says Mark Evans, Confluence founder and Chairman and CEO. "We’re dedicated to working with our global customers to respond to the growing pressures for transparency, control and scalability being placed on back-office fund administrators. We believe that those who invest in their IT infrastructure and move to automate their critical back-office business processes will be positioned to meet continued regulatory and stakeholder demands for transparency and control, while gaining a competitive advantage in the marketplace."
Forty per cent of the leading global investment managers and more than 60 per cent of US mutual funds rely on Confluence’s technology to improve their fund administration processes, such as performance calculation and reporting, financial and regulatory reporting, and expense management. Traditionally these companies have relied upon redundant manual processes to respond to these requirements, increasing their risk of reporting errors, making it difficult to keep up with new deadlines for the more frequent and complex reports demanded by regulators, and impacting their ability to scale to meet growth demands.
The Unity platform from Confluence is the industry’s first and only software platform to automate all critical fund administration processes. The comprehensive technology platform is built on a single unified database, enabling fund administrators to verify data accuracy once, store the information, and reuse it for multiple purposes.
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