London, UK (15.01.2019) – Quartal Financial Solutions, a leading global provider of cloud-hosted revenue and expense management solutions, announced that its Quartal FEE MANAGER solution is now being used in a production environment by the global asset management arm of one of North America’s leading financial institutions.

Selected via a competitive tender process, Quartal FEE MANAGER was chosen as an integral component of the asset manager’s strategic transformation of finance operations. Implementation of the cloud-based, SaaS solution commenced in February 2018 and following a successful parallel run in Q4 2018, went into live, production mode on 15th January 2019.

Quartal FEE MANAGER is now being used to automate the end-to-end billing process for over $500M of revenue covering operations in North America and United Kingdom, with a further roll-out planned for Asia Pac’s business later this year.  Deployed to facilitate the creation of an exception-based, automated operating model, the asset manager uses Quartal FEE MANAGER to calculate fees for over 900 clients covering, General Accounts, institutional clients (via both segregated mandates and class-based mutual fund investments), pooled funds, North American mutual funds and private market funds. 

Jack Massarano, Quartal’s VP – Projects and Project Office, commented, “This was a complex, multi-faceted, fixed-price project that was delivered to budget. This is a great achievement and testament to the strength of the client / vendor relationship and ultimately, a reflection of the skill, dedication, pragmatism and unwavering commitment of all involved”.