Advent And Paladyne Join To Offer Advent's Geneva Software Through Paladyne's Hosted Platform

Paladyne Systems announced that the two companies have entered into an enterprise-wide hosting and administration agreement whereby Paladyne Systems will offer Advent's Geneva software in a hosted environment to hedge funds and fund administrators
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Paladyne Systems announced that the two companies have entered into an enterprise-wide hosting and administration agreement whereby Paladyne Systems will offer Advent’s Geneva software, the industry’s premier global investment accounting and portfolio management software, in a hosted environment to hedge funds and fund administrators.

Paladyne Systems will integrate Geneva into its PALADYNE suite, a fully integrated front-to-back office solution developed specifically for the hedge fund industry. Paladyne will also offer Advent’s Workflow Manager module to its clients, to streamline all integration, reconciliation, and reporting processes between Geneva and third-party applications.

Geneva delivers a “main memory” database system for the industry, aiming to offer more accurate and flexible reporting and to eliminate batch processing and time-consuming error corrections. Geneva also aims unifies the general ledger and portfolio sub-ledgers, for real-time reporting and seamless, automated reconciliation.

By offering Geneva in a hosted environment, Paladyne is working to provide a global portfolio accounting solution to firms that might not have the full IT capabilities to support the software in-house, or that simply prefer a hosted solution for their business.

“The PALADYNE suite is now complete with the addition of the Geneva application. Hedge funds can leverage the PALADYNE suite to be up and running in a very short timeframe,” said Sameer Shalaby, Chief Executive Officer of Paladyne Systems. “As the industry’s most scalable and robust accounting solution, Geneva offers the right platform to also support our administration and prime broker clients.”

“We’re very pleased that Paladyne selected Geneva as its fund accounting platform to be delivered on an outsourced basis. With Paladyne, hedge funds now have the option of choosing Geneva on a hosted basis, giving them access to a world-class technology infrastructure that until now was only available as an on-site installation. We feel this is a compelling value proposition,” said Peter Hess, senior vice president and general manager for Advent’s Global Accounts business.

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