Fund administration technology provider Confluence has unveiled an automated service to help improve overall control and efficiency of expense payments processing, budgeting and payment related tax reporting for collective investment vehicles, including mutual funds, UCITS, ETFs and insurance funds.
Unity NXT Expense Processing automates and standardizes expense processing, offering fund administrators secure access to their expense processing operations from any desktop or mobile device across the globe. “The key challenges that we set out to address in expense processing operations were the lack of inherent control and the limits on value add analysis dictated by spreadsheet processes.” said Paul Soltis, North America Market Manager at Confluence. “Now, Unity NXT Expense Processing allows fund administrators to maximize their efficiency and reduce errors by having complete control over their expense processing operations and a focus on the activities that improve and ensure quality and accuracy.”
“Our clients rely on our expertise as a technology provider to deliver innovative solutions to automate difficult fund administration data processing and reporting challenges,” said Skip Smith, COO for Confluence. “Unity NXT Expense Processing is currently the only invoice processing and fund expense budgeting and payment related tax solution that uses automation to save fund administrators time and to eliminate the risks of error associated with manually entering payments.”