SmartStream Technologies, the Transaction Lifecycle Management specialist, today announced that the TLM® Corporate Actions solution has attained accreditation in all three market sectors in the 2007 B.I.S.S. Research Corporate Actions Systems Benchmarking evaluation.
The benchmark tests organised by B.I.S.S. Research and set by an industry panel revealed that SmartStream’s innovative approach to TLM had moved it beyond simple corporate actions processing for Broker/Dealers, Custodians and Asset Managers. The panel noted that TLM Corporate Actions has a significant ability to reduce operational risks in the corporate actions department through proactive monitoring to ensure any errors are escalated to the appropriate user for action.
Gary Wright, C.E.O., B.I.S.S. Research and creator of the B.I.S.S. business benchmarking concept, said: “SmartStream has created a Corporate Actions system that has applied the latest technology, intelligently assembled and imaginatively developed and this is reflected in the impressive scores given by the industry panel. The future of TLM® Corporate Actions along with its other modules is exciting and we anticipate more inspiring developments during the coming year.”
The benchmarking praised TLM Corporate Actions all round functionality and revealed that it was the only system to receive the “excel at” score for both data capture and notification. It also highlighted the depth and breadth of TLM Corporate Actions customers, with a geographical spread that reinforces SmartStream’s ability to support multi-site operations globally.
Steve Miller, Senior Product Manager, SmartStream, said: “We’re delighted with this award as it reflects the investment and creativity that’s gone into developing TLM Corporate Actions one of the strongest solutions in the market. The last 12 months have seen SmartStream gain real momentum in this emerging market with a raft of new deals signed across our regional sales operations and across multiple industry sectors. As a standalone solution TLM Corporate Actions is proving to be one of the most functionally rich corporate actions solutions available today – and integrated with our broader suite of TLM solutions we believe it offers almost unparalleled control to the Operations function.”
“With the market in dire need of replacing the legacy systems, now creaking under the increasing strain of regulatory developments, TLM Corporate Actions can become one of the successful modern systems that springs out of basic Corporate Actions processing into other operational areas where other TLM modules can be integrated into a back office system,” commented Wright.