Major industry award this year confirms Electra as the industry leader in reconciliation.
New York – July 20, 2017 – Electra Information Systems (Electra), vanguard provider of post-trade solutions for the asset management industry, today announced it has once again been awarded Best Reconciliation Management Provider for its application Electra Reconciliation in the 2017 Waters Rankings Awards. Electra was also named Best Outsourcing Service Provider for its Electra Data service.
Electra was selected for these awards by a popular vote of Waters readers and members of the buy-side community. Electra was presented with both awards at a luncheon held today at The Metropolitan Club of New York, beating a record number of competitors in each category.
These wins recognize Electra’s tradition of continuous innovation and attention to client needs. One key addition to Electra Reconciliation this year is intraday processing, which has become increasingly popular as investment managers look to reconcile throughout the day. Electra’s intraday reconciliation capability addresses the risks associated with waiting until tomorrow to resolve exceptions identified today. Electra utilizes a proprietary algorithm that identifies and excludes duplicate data while allowing true reconciliation updates to enter the workflow.
Another powerful addition is Electra’s true N-way reconciliation, allowing users to compare any number of data sets within the same view. Standard reconciliation packages address this by employing multiple two-way reconciliations viewable in separate screens and reports. With investment managers now reconciling against custodians, prime brokers, fund administrators and multiple internal systems, comparing multiple sources at one time is far more efficient and accurate than cross-checking across multiple two-way exception reports.
“The entire Electra team is honored to have received strong client and industry support again in 2017. We built Electra Reconciliation to revolutionize the industry's approach to reconciliation and broaden its application beyond traditional custodian reconciliation. We are proud of the work we’ve done and this award recognizes how we’ve addressed our clients’ needs for highly sophisticated reconciliation processing,” said John Landry, Electra CEO.
Notes to Editors
ABOUT ELECTRA INFORMATION SYSTEMS
Electra Information Systems is an award winning innovative provider of proven post-trade software solutions for the asset management industry. The largest buy-side aggregator of investment accounting data, Electra is relied upon by institutional investment managers, hedge funds, insurance companies and plan sponsors for their data management command and expertise.
Electra partners with clients, which include more than 200 users in 11 countries and a third of the top 50 and top 200 asset managers, helping them significantly increase efficiency and reduce risk. With decades of collective subject-matter expertise, Electra is a specialized one-stop source for post-trade processing solutions.
For more information, please visit www.electrainfo.com.