14 May 2007
Netik InterView and Thomson PORTIA Join Forces to Provide Comprehensive Investment Accounting and Data Warehouse Solution
Joint Offering for Money Managers and Money Owners
New York, NY
Netik LLC, the financial data warehouse and data hub company for the
securities and investment markets, and Thomson Financial, an operating unit
of The Thomson Corporation (NYSE: TOC; TSX: TOC) and leading provider of
software to the financial services industry, today announced a strategic
alliance that integrates Thomson PORTIA® and Netik’s InterView® solutions.
The combined solution will provide money managers and money owners with a
best-of-breed solution for investment accounting, data management and all
reporting
Netik and Thomson have jointly invested in an adapter, available
‘off-the-shelf’, to combine the two products and leverage the strengths of
both Thomson PORTIA and Netik InterView. The new PORTIA/Netik Adapter will
be licensed to users by either Thomson Financial or Netik and will be
maintained by both companies as a guaranteed interface across several
releases. The integration of PORTIA and Netik InterView significantly
enhances the delivery of portfolio accounting information to both a firm’s
internal consumers and externally to clients. For PORTIA users, this
significantly enhances the firms’ data management capabilities while
providing another option for enhanced reporting presentation via Netik
Interview.
Formerly limited to a single vendor for an integrated data warehouse and
investment accounting solution, the asset management market will now have
access to the depth and breadth of functionality that PORTIA and Netik
InterView can jointly supply.
Christy Roux Bremner, Global Managing Director, Thomson PORTIA, Thomson
Financial, said: “Thomson PORTIA has delivered world class accounting and
transaction processing to the market for the past two decades. Now, with
flexibility in reporting provided by Netik InterView, new prospects
and existing customers will have a viable alternative to in-house builds of
data marts. The PORTIA/Netik combination can provide a higher degree of
sophistication with ready-made and off-the-shelf to support enterprise
reporting and data storage. ”
John Wise, CEO, Netik adds “Thomson PORTIA already has acclaimed excellence
in accounting. Combined with Netik InterView, it can provide excellence in
all aspects of reporting and data management for money owners and money
managers. Traditionally, various aspects of reporting and data management
have been partially resolved by many silo systems hanging off the
accounting engine. In a matter of months, issues of poor data quality, data
latency and data management are a thing of the past with the Netik
InterView and PORTIA guaranteed adapter.”
Wise continues: “Netik has already signed the first customer who will have
the Thomson PORTIA and Netik InterView combination solution.”
“Netik’s solution truly complements the functionality of PORTIA, and
together we’ll provide the industry with a truly unique and highly capable
solution. Netik has very strong domain knowledge and a very good success
rate in the industry. We’re pleased to be able to work with Netik for the
benefit of our mutual clients,” added Bremner.
About Thomson Financial
Thomson Financial, with 2006 revenues of US$2 billion, is a provider of
information and technology solutions to the worldwide financial community.
Through the widest range of products and services in the industry, Thomson
Financial helps clients in more than 70 countries make better decisions, be
more productive and achieve superior results. Thomson Financial is part of
The Thomson Corporation (www.thomson.com), a global leader in providing
essential electronic workflow solutions to business and professional
customers. With operational headquarters in Stamford, Conn., Thomson
provides value-added information, software tools and applications to
professionals in the fields of law, tax, accounting, financial services,
scientific research and healthcare. The Corporation’s common shares are
listed on the New York and Toronto stock exchanges (NYSE: TOC; TSX:
TOC).
About Netik
Netik is a data warehouse and data hub Company that specializes in
providing reporting and data management software solutions for the
securities and investment markets. Netik’s focus is in financial data
warehousing, aimed at increasing efficiencies, reducing risk and improving
client service for money owners and managers, and investor services
companies within the Securities and Banking Industry.
Netik’s value proposition is focused on solving the perennial problems
associated with how financial firms manage and derive valuable, reliable
information from internal and external data. Netik solutions address the
fundamental requirements for integration, validation, matching,
reconciliation, and workflow to cleans, rationalization and reconciliation
of data from an ever increasing numbers of sources, coupled with the need
to warehouse and deliver data as valuable, accurate information for primary
front-line business usage.
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Netik and Netik InterView are registered trademarks of Netik LLC. PORTIA is a registered trademarks of Thomson, Inc. All other products or services mentioned herein are trademarks or registered trademarks of their respective companies.
Media Contacts
Jennifer Massing
Massing PR, LLC for Netik
Tel: +1 917 293 2405
Email
Janice Addams
Senior Manager, Public Relations
Thomson Reuters
Tel: +1 646 223 6940
Email