Linedata has partnered with Stavtar Solutions, a New York-based software and technical services company, to expand and strengthen the firm’s expense, contract and vendor management solutions for the asset management and alternative funds industry.
Powered by Stavtar’s StavPay platform, Linedata’s new full-service expense management solution offers CFOs and finance teams a holistic, plug-and-play back-office service solution that fills resource gaps, automates and streamlines inefficient expense processes, and replaces manual-entry tools, such as Excel, and expensive applications that fail to cater to the unique requirements of complex asset managers.
The turnkey solution provides expense allocation transparency supporting regulatory compliance oversight, excellence in expense administration, and a robust control environment, Linedata claims.
By leveraging the StavPay platform, Linedata will drive back-office automation and digital transformation while delivering unparalleled vendor, contract, workflow, and cost metric insights.
Anup Kumar, Linedata’s Global Head of Global Services, said: “Integrating the StavPay solution strengthens and expands our expense and vendor management offering to deliver the trifecta of fund accounting knowledge, and expense and contract management expertise on an advanced digital platform.
“This cutting-edge co-sourcing solution will enable our hedge fund and private equity clients to create unparalleled transparency for investors and facilitate SEC compliance. The shift to digital solutions is here, and we are proud to be at the forefront of its adoption in the industry.”
Avtar Batth, Co-founder of Stavtar Solutions, commented: “StavPay is an intuitive, hyper-flexible platform built to support complex workflows and expense allocation requirements of asset managers.
“StavPay simplifies and digitizes the world’s most complex financial processes, making the transition between workflows and documents seamless. Other expense management platforms are built for the masses, but only StavPay accounts for the unique requirements and challenges of truly complex businesses. We are excited to work with Linedata to bridge that gap.”
Linedata boasts more than 700 clients in 50 countries. Headquartered in France, Linedata has 1100 employees in 20 offices and has achieved revenues of EUR 161.0 million in 2020.
Bank of China’s asset management firm has chosen Linedata to replace internal systems to manage custodian interfaces, as well as increased client asset and trade flow across multiple fund types.
ICBC AMG’s specific needs include implementing enhanced portfolio management capabilities to fuel plans to expand its fund line-up throughout 2018. The line-up includes equity, fixed income, money markets, derivatives, and private equity offerings.