GCom Solutions and BISYS, have teamed up to provide clients with a powerful end-to-end technology solution for financial administration services, including the preparation of quarterly, semi-annual, and annual shareholder reports.
'One of our overriding objectives is to put the marketplace's best technologies and services to work for our clients,' says George O Martinez, senior vice president of BISYS Fund Services and head of its fund administration and oversight operations. 'After evaluating many competing technologies, we selected GCom's financial administration suite of software as the one most capable of driving the accuracy of our financial administration services. The partnership will take reporting to a new level by helping reduce reporting cycle times and providing a significant savings in typesetting costs to clients.'
The financial administration software solutions include FundSuite SX for financial reporting and FundSuite ComFiler for preparation of N-SAR, N-Q, and N-CSR regulatory filings. Additionally, BISYS and GCom will integrate output from FundSuite SX to provide cost and time efficiencies in typesetting services. Clients will be able to use the BISYS / GCom integrated typesetting solution while still maintaining the printing relationship with their preferred print vendor. BISYS and GCom anticipate that their typesetting solution alone will generate an approximately 20 to 30 per cent reduction in print production costs to funds and their shareholders.
'We conducted a thorough evaluation of several vendor solutions over a 12-month period before selecting GCom,' says Martinez. 'GCom's ability to integrate a typesetting solution into our financial reporting service is one of the many benefits we are especially pleased to bring to our clients. With GCom's help and technology solutions, BISYS will expand its existing typesetting and composition service capabilities, providing clients with an in-house typesetting alternative. This will create significant and immediate value for clients in the printing of financial reports.'
David Moffat, President and COO of GCom adds: 'We are very gratified to have been selected by BISYS as a partner in providing our software and services to their clients. We have been working closely with BISYS during these past few months to ascertain the most beneficial solutions for BISYS' clients, which has evolved into the relationship we have announced today. We believe, as BISYS does, that we offer the leading platform of financial administration products and services available today, and are proud to be able to bring those offerings to BISYS and its clients.
Lonnie Macdonald, senior vice president of GCom's Global Business Development, comments: 'BISYS is an important partner for GCom. They are a leading global service provider in the industry and are well respected for their service excellence. Pairing our market leading software and service solutions with their very high quality financial administration services will bring significant value to BISYS' clients and the marketplace. We are very proud to be selected by BISYS as a partner in their continued effort to offer the best service solutions.'
Background notes: GCom Solutions provides financial reporting software and related services to more than 4,000 mutual funds in markets throughout the world. Founded in 1992, GCom' Solutions is dedicated to meeting the precise and exacting financial reporting needs of its clients while providing significant value and measurable cost savings. GCom' Solutions' products also are built to enhance regulatory compliance through a number of control-oriented functions and features.
BISYS Fund Services is an industry-leading provider of outsourcing solutions for mutual funds, separately managed accounts (SMAs), and other investment programs, worldwide. BISYS administers more than USD 400 billion in assets for approximately 2,000 portfolios. Its core offerings include compliance and regulatory consulting and oversight, treasury and financial administration, broker/dealer compliance, tax and legal services, fund accounting, distribution support, and transfer agency services. Investment managers of all types and sizes turn to BISYS for innovative and tailored solutions. BISYS Fund Services is a division of The BISYS Group, Inc.'s Investment Services group.