~ Innovative billing and reporting platform seeing strong momentum by automating critical and complicated back-office processes
February 1, 2016. San Carlos, CA. Arcons Technology, an industry leading technology platform for financial advisors, announced today that the company now serves 100 independent advisory firms, representing over $110 billion in assets. The company attributes the ability of their flagship product, BillPort to simplify and automate the complex billing process for investment advisory firms as a strong contributor to their growth and growing momentum in the industry.
“Advisors are running sophisticated businesses and due to their fast growth have developed fairly complex processes to manage their billing and reporting,” said Hemant More, CEO of Arcons Technology. “As a result, they often have created manual approaches for these mission critical processes that are limiting their ability to scale and grow. Advisors, now more than ever, need to leverage technology to automate and streamline this important aspect of their business. They can’t rely on spreadsheets anymore.”
Arcons Technology’s BillPort platform is an easy to use technology system that can accommodate a wide array of fee schedules, calculate fees instantly, create invoices, revenue sharing reports, and provide direct, automated uploads to custodians as well as exports into accounting systems. This end-to-end system integrated into the industry’s leading portfolio accounting systems, provides advisors with a powerful tool that can simplify and shorten an often complex and manual process for advisors.
“As part of our service culture, we place a high level of focus on meeting the needs of the hundred advisors we work with,” said George Gay, CEO of First Affirmative Financial Network, an independent advisory firm with over $900 million in assets. “That service focus enabled us to allow a high level of customization, which was great for advisors and their clients, however, it did create a level of complexity in our billing processes that we did not anticipate.”
First Affirmative is a leading SRI focused investment manager and has leveraged that industry position to successfully grow their firm. This growth however led to over 500 different billing schedules, creating a complicated and manual back office issue. “The high degree of customization Arcons Technology was able to bring to the table solved our complex and high volume billing process, so much so that our billing process, which used to take several days a month, can now be accomplished in less than one day.”
Arcons Technology will be exhibiting their industry leading billing and reporting technology at the upcoming TD Ameritrade Institutional LINC conference, to be held February 3-6, 2016 in Orlando, Florida. For more information, log onto www.arconstech.com.
About Arcons Technology
Arcons Technology was founded in 1998 and provides technology platforms to help financial advisors better manage, service, report and bill on client portfolios. With deep integrations with the industry’s leading portfolio accounting systems, including Advent Axys®, APX and Schwab Portfolio Center©, Arcons simplifies and streamlines reporting and billing processes. Headquartered in the heart of Silicon Valley with offices in India, Arcons Technology is leading the way in helping advisors automate their back offices.