Confluence and LOIM in UNITY over solutions 07 August 2014Luxembourg Reporter: Catherine Van de Stouwe
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Confluence is to provide its automated budgeting application for asset managers to Lombard Odier Investment Managers (LOIM).
The Unity NXT Budgeting and Unity NXT Invoice Payment solutions will be used by LOIM in the management of their Luxembourg UCITS and alternative investment fund expenses.
Unity NXT Budgeting will allow asset managers to manage fund expenses with greater control and transparency, while the Unity NXT Invoice Payment solution will reduce time spent by asset managers on invoice tracking and vendor reporting by up to 90 percent.
Mark Edmonds, managing director of Lombard Odier Funds, said: “We view automation as key to gaining greater transparency, efficiency and control over expense management processes.”
“The Unity NXT Budgeting solution allows us to manage expenses efficiently across multiple currencies and multiple share classes.”
Hugh Byrne, managing director of Europe, Middle East and Africa business development as Confluence, said: “Asset managers can now automate expense budgeting to reap the benefits of a fixed operation charge ratio without struggling through the hassle of spreadsheet-based expense management.”
“We are very pleased to be providing LOIM with solutions to help them improve control and efficiency of monitoring budgets and forecasted budgets and creating, reviewing and approving invoices, whilst simultaneously reducing risk and cost.”
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