It’s tough to grasp the true impact of an acquisition without waiting for the dust to settle. What looks good after a few months doesn’t necessarily hold true years later. So while Advent Software’s win in the best accounting system provider category at last year’s Waters Rankings was impressive, it wasn’t a true indication of the status of the company, which was acquired by SS&C Technologies earlier that year. What would be the state of Advent and its hugely successful Geneva platform—so well respected on the buy side—once it was integrated into the technology giant that is SS&C? da
The answer is very well, as the platform has won the category for the second straight year. It appears that, thus far, concerns those in the industry had about SS&C absorbing Advent have been unfounded, as the firm has continued to produce outstanding software that has appealed to Waters’ readers.
Bill Stone, CEO of the Windsor, Conn-based firm, spoke to Waters back in September about the acquisition. The interview came on the heels of the announcement that Pete Hess, Advent’s former CEO, would remain in control of the Advent Software business unit that sits within SS&C. Stone stressed that the team that built Geneva would remain intact, a concern brought up by a number of sources when Waters did a deep-dive on the deal back in February 2015.
Geneva has also continued to improve with every new version. Robert Roley, co-general manager of SS&C Advent, told Waters that the October 2015 release saw support for Oracle Linux added and workflows for swaps and bank debt streamlined. Support for emerging markets was also extended.
Roley detailed the process the firm goes through to develop new versions of Geneva, which come out in April and October every year. Enhancements are often sourced from clients or are a response to an area of the industry that is changing, evolving or growing, according to Roley.
“Our product teams are active in monitoring developments that impact us, be it from regulatory change or trends in the market,” Roley said. “A lot of the work we do stems from this type of research, and it’s a necessary part of our process to anticipate what our clients will need, often before they are aware of it.”
“Our product teams are active in monitoring developments that impact us, be it from regulatory change or trends in the market. A lot of the work we do stems from this type of research, and it’s a necessary part of our process to anticipate what our clients will need, often before they are aware of it.” Robert Roley, SS&C Advent
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