Buy-Side Technology Awards: Best Buy-Side Portfolio Accounting Platform─Multifonds

Many fund administrators use the two-system approach, connecting separately to their clients' front-office platforms, pricing and custody systems, and other applications. This results in two teams─one responsible for the Accounting Book of Records (ABOR) and the other responsible for the Investment Book of Records (IBOR). Duplication of accounting at the fund and portfolio level may follow, as well as the need for reconciliation.

By combining ABOR and IBOR into a single platform, Multifonds Portfolio Accounting smooths operational inefficiencies. Clients can run a single instance of the platform with common database and static data that is captured once only for both fund and portfolio accounting. The risks and costs that go along with double uploading of data, reconciling two databases, and processing data twice, are removed.

"Today, we are the only provider that combines the IBOR and ABOR on a common platform, sharing the same static data and providing start-of-day position and real-time cashflow projection capabilities," says Multifonds CEO Oded Weiss.

Over the last year, Multifonds has added a Workflow Exception Management (WEM) tool that provides exception-driven workflow processing in real time, based on configurable controls, rules, and workflows. It enables users to focus on variations and exceptions only, such as stale and missing prices, in order to gain efficiencies and data quality. It provides transparency into workflow status, exception resolution, and performance through executive dashboards. The firm plans to emphasize the use of the WEM tool for better client control and efficiency going forward. And, as has been the case since its inception, the platform will continue to handle multiple jurisdictions, asset classes, fund structures, locations, time zones, currencies, and languages.