Waters Rankings 2020: Best Accounting System Provider—SS&C Advent
SS&C Technologies has taken home four awards at this year’s Waters Rankings, and each win was thanks to a heady acquisition. SS&C Eze (SS&C bought Eze Software in 2018) took home two awards, SS&C Algorithmics (IBM Algorithmics was acquired in 2019) was a winner, and in the best accounting system provider, it was SS&C Advent walking away as the top vote-getter, with SS&C completing its purchase of Advent Software in 2015. This makes it six years in a row in the category for Advent—five in a row for SS&C Advent—thanks to its Advent Portfolio Exchange (APX) and Geneva platforms.
On the Geneva front, the vendor has focused on the user experience with updates that streamline workflows, modernize the user interface with web-based technologies, and provide new value-added, data-driven solutions that employ artificial intelligence and machine learning, says Karen Geiger, senior vice present, and co-general manager of SS&C Advent. All of these are being done as the industry prepares for December 31, 2021, which, barring a delay, is the last day that the Libor benchmark will be published.
“As our clients prepare for the monumental cessation of Libor, the team is actively rolling out features to support new benchmarks such as Sofr and Ester, and their associated calculations, such as daily compounding, flat compounding, and lock out days, to name a few,” she says. “This transition impacts a lot of clients and our product development, client support, and professional services are ready to support them.”
As for APX, a new, modern user interface was introduced, and the system’s bond analytics were further extended. Additionally, the company rolled out performance measurement tools and an updated composite dispersion report that provides greater transparency and more efficient GIPS reporting.
“To improve front-middle-back office collaboration, a real-time synchronization of accounting and reference data is now incorporated in our order management and trade creation solution,” Geiger adds.
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