Exact are pleased to announce that one of the largest European fund management companies has recently gone live with Libris Financial as a replacement for a number of their City of London based Back Office applications - after one of the shortest implementation periods yet - just 12 weeks.

Exact are delighted to have been chosen over a number of alternative major suppliers and we engaged on a full-scale delivery programme and timetable. As a totally hosted UltraSecure ASP solution, the implementation and data migration were completed on time and on budget.

The culmination of the project gives the French Fund Manager a streamlined, modern and UltraSecure fully hosted Investment Management system incorporating trade processing and settlement, GL accounting, flexible and automated client reporting, performance measurement and attribution as well as new datafeeds that incorporate the latest available service from Interactive Data, the FTS service - finally replacing the old Exshare module. The system has been designed to cover all the requirements of a Private Client and Institutional fund manager, including efficient Straight Through Processing and automated Custodian Reconciliations.

As this particular implementation was expected to replace existing in-house developed applications, the aim was to reduce the reliance on internal support mechanisms and free personnel resources to concentrate on the core business strategy. In addition, the client has identified a 70% annual saving over former operational costs.

Paul Sinclair, Sales Director, Exact Consultancy commented, “ We are delighted that the project to implement Libris Financial has been completed. We have heard some extremely positive comments from users, who, having used the old systems for a number of years are amazed at the speed and flexibility of the new system processes.

An UltrasSecure Web-Portal facility has been incorporated into the Libris Financial implementation which allows trusted third parties access to Portfolio information and client reporting. The Web Portal service even extends to mobile communications, with a number of Libris Financial functions available as customised, dedicated 'apps' for the iPhone and the iPad, including portfolio enquiries and Client Reporting generation with email distribution.

Gary Butcher, Technical Services Director at Exact commented: "We are extremely proud of our development team - particularly with this project. The magnitude of the tasks were enormous and there was a lot of ground to cover in a very short timeframe. The skillset and dedication of our staff were instrumental to the success of this project and the secure iPhone app facilities will become an exciting new direction for the future of Libris Financial".

Note: for reasons of its Group-wide policy of non-endorsment, we are prevented from fully naming this client on this website. Please contact us for more information.