Electra was ranked third in the Bobsguide Rankings 2019 in the Fee Billing category for Electra Billing, out of 20 companies nominated for this category. The rankings were announced on November 21, 2019 and included 574 nominated companies across 36 categories.
Each year, Bobsguide asks those within financial services to vote for technology firms they believe have stood out during the year. The Rankings look at functional capabilities offered by vendors as well as market specific attributes. Firms selected in the Rankings are therefore considered to have made the greatest impression with those that have used their systems over the past twelve months. Bobsguide’s editorial team selects the top three in each category based on sector, functionality, product experience and service strength.
Electra Billing helps buy-side investment managers improve the speed and accuracy of invoices, cash flows and client servicing, whether the firm has institutional accounts, retail accounts, or a mixture of both. It eliminates manual touchpoints with custodians and improves the client experience while helping to reduce operational, compliance and reputational risk and cost.
An inefficient, error-prone client fee billing process can cause an asset manager to incur numerous risks. Many firms use spreadsheets or lackluster platforms to calculate client fees and manage the billing process. As the complexity of portfolios increases, these outdated processes often create miscalculations and delays that negatively impact a firm’s bottom line. Electra outlines these various risks in a white paper, Six Big Risks Investment Managers Take With Inefficient Client Fee Billing Processes.