Eagle Investment Systems Corp. said that McDonnell Investment Management has gone live with its Eagle STAR(r), a Web-based, global investment accounting solution.
With more than $7 billion in assets under management, McDonnell has fully deployed Eagle STAR as its core accounting and record keeping system to support multiple fixed income investment styles for institutional and private clients, Eagle said. Eagle’s Professional Services assisted McDonnell with the implementation, which was completed in less than four months.
In support of its goal to provide efficient, real-time straight-through processing, McDonnell selected Eagle STAR to replace its existing legacy accounting system in an effort to better serve its growing and varied client base, the company said.
Eagle’s Web-based technology and ability to handle high volumes of transactions were key factors in McDonnell’s selection. Additionally, Eagle STAR will enable McDonnell to provide Schedule D statutory reporting on behalf of its insurance clients in the future.
“We are very happy with the results of this system implementation,” said Fabian Gomez, McDonnell’s managing director and chief technology officer. “Not only did we accomplish this effort with little disruption to our firm’s normal day-to-day business, but we completed our accounting system conversion in less than four months – a process that typically takes 12-24 months.”
“Eagle is proud to have the opportunity to be part of McDonnell’s continued success,” said David Palten, Eagle president and chief executive officer. “The combination of rich functionality, proven scalability, and the ability to support multiple business lines via one instance, makes Eagle STAR an ideal solution for companies like McDonnell.”
Eagle STAR supports organizations of all sizes and complexities and can support the highest transaction volumes demanded from the industry, it said. Delivered with a standard set of operational and accounting reports, its fully integrated reporting component enables organizations to deliver accurate and timely information, Eagle said. Eagle STAR offers tailored functionality to meet specific industry accounting needs for insurance, brokerage, mutual funds, hedge funds, and banks/trusts – all on one platform.