Simplify LLC launches the asset management industry’s first true, month to month financial services technology application. Both TKS Solutions and NerrenRisk Ltd have entered into strategic agreement that will see respectively the Penny ItWorks ™ and NerrenSync, applications delivered to customers as on-demand hosted applications by Simplify LLC (Simplify). Simplify’s Platform as a Service (PaaS) for alternative investment managers, provides hedge funds, funds of funds, family office, pensions & endowments and administrators with robust capabilities for shareholder management, tax, private equity management, fund of funds portfolio management, performance and attribution risk reporting and due diligence processing.
The Simplify – Platform as a Service combines TKS Penny, a leading Shareholder, Trust, Tax and Private Equity accounting platform and the NerrenSync Fund of Fund Accounting and Risk System on the same Integrated Environment, without compromising the user experience. The entire deployment and production lifecycle is supported on the same computing environment, dramatically reducing costs of development and maintenance, time-to-market and project risk. In this new deployment model, managers enjoy built-in scalability, reliability and security, all the while benefiting from support collaboration and built-in integration with other systems and external business they require access to.
The solutions are aimed at small to mid-tier firms who don’t have the infrastructure or operations capacity to support advanced risk management or accounting functionality. Simplify enables TKS Penny and NerrenSync to be offered as scalable, integrated solutions with light, on-demand deployment on a low-cost, month-to-month subscription basis. This will help customers to focus on revenue generating activities and re-apply scarce IT and operations resources. Both solutions are already being used at several leading managers and auditors in North America and Europe, with Anchin, Block & Anchin LLP, BDO Stoy Hayward Investment Management, and Moonraker Fund Management among them.
“We are very pleased to be working with TKS Solutions and NerrenSync to deliver their solutions via an on-demand model,” says Brian Shapiro, president of Simplify LLC. “The combined functionality of the solutions and availability of the Simplify platform means together we can offer a sophisticated, end-to-end solution to all those asset managers with under $1 billion in assets under management, who are facing challenging operational times and need answers now.”
D.C.