Confluence, a global investment management provider of automated data management solutions, announced that Russell Investments will use its Unity Expense Management product, which provides an automated end-to-end system for expense payments, reporting, and expense budgeting.
Russell will be using Unity Expense Management to automate and manage a number of tasks, including invoice processing and the production of Form 1099-MISC. By automating expense management, Russell believes that it can achieve cost savings and control its expenses, while enhancing its processes.
“We are using Unity Expense Management in our ongoing push to increase scalability while reducing risk in monitoring fund expenses,” says Rick Chase, director of fund administration, Russell Investments.
“We particularly like the fact that it is a hosted solution, allowing our associates to focus on the analysis of results rather than the mechanics of a process,” adds Chase.
Russell has been using Confluence technology to automate its performance reporting and measurement in the U.S. since 2004, and it recently began to deploy Confluence Unity Performance and Unity Benchmarks software in their global offices.
“Russell has a clear understanding of the benefits that automation can have to its operations worldwide,” says Kirk Botula, executive vice president and COO, Confluence.
“Russell knows that automation can improve their mission-critical operations, and routine functions that are critical in an era of intense regulation, along with increased record keeping and reporting requirements,” adds Botula.