September 14, 2005 (Boston, MA) â Bonaire Software Solutions, LLC, a proven provider of Revenue Management and Billing software for financial services organizations, today announced the release of REVPORTâ¢ 4.0, the next generation upgrade to its industry leading fee billing system and solutions suite â REVPORTâ¢.
REVPORTâ¢ 4.0 expands Bonaireâs multi-currency functionality by triangulating the base currency, the basis for all displays and reporting for specific work groups; the portfolio currency, the currency an investment portfolio is denominated in; and the calculation currency, which may be determined on a rule level designed by a clientâs specified workflow. All of this is in accordance with FASB 52 and GAAP.
REVPORTâ¢ 4.0 supports the ability to use exchange rates from multiple sources, like Reuters, a local custodian, or one that is internally defined to allow users to calculate invoices in multiple currencies, specifying which source is to be used for which translations. "REVPORTâ¢ 4.0 leverages newer technology creating flexibility and scalability that older, legacy based, fee billing systems canât compete with," said Christopher John, CEO and Founder of Bonaire. "The REVPORTâ¢ 4.0 solution is an enterprise level solution for global investment managers and mutual funds. The software is web-based and service bureau enabled, allowing it to support multiple business units and multiple divisions within business units, all through a centralized control process which provides a full audit trail."
REVPORTâ¢ 4.0 has been selected by many of the top global investment managers because of its ability to assist firms in decreasing the time required to produce invoices, reducing manual entry invoicing errors; handling complex fee calculations; all on a global basis. REVPORTâ¢ 4.0âs comprehensive audit trail aids in compliance reporting and control to address constantly evolving regulatory requirements such as Sarbanes-Oxley.