PITTSBURGH, PA (PRWEB) May 12, 2005
Advancing the SECÂs goal of omnibus account transparency as specified in the recently finalized SEC Rule 22c-2, Access Data Corp., the leading provider of omnibus transparency solutions for the mutual fund industry, announced today that it has established a standard reporting format across record keeping sources using eXtensible Mark-Up Language (XML). By adopting the use of XML, a tagged data format, Access Data is improving the quality of data available from omnibus accounts for reporting to investors, Boards, auditors, and regulators.
ÂWe utilized XML data formats in developing our patented Interface ObjectsÂ technology to establish interfaces with multiple sub-accounting systems, enabling Access Data SalesVisionÂ® clients to aggregate and normalize data for all shareholder accounts, across all platforms,Â said Dan Cwenar, president and chief operating officer of Access Data. ÂWe have now expanded our use of XML technology to establish a standard reporting interface in order to seamlessly integrate and synchronize SalesVision data with the clientÂs internal applications such as CRM, ERP and financial reporting systems. The use of this state-of-the-art technology, combined with our deep experience in financial services, arms SalesVision clients with the technology tools they need in order to meet the requirements of omnibus account transparency,Â added Mr. Cwenar.
Data tagging is gaining prominence as a format for enhancing the quality of data that can be retrieved, searched and analyzed through automated means. The SEC is currently encouraging fund companies to participate in its voluntary data tagging program for EDGAR filings. Access Data SalesVision utilizes tagged data in XML format to aggregate data from multiple sources to improve the ability of fund companies to identify market timers, track payments to distributors, streamline wholesaler compensation and improve sales reporting. Now, utilizing XML, SalesVision can improve data availability and quality to enhance internal enterprise applications and fulfill reporting requirements of the SEC and other regulatory bodies.
Access Data SalesVision is the only solution that aggregates and integrates omnibus sub-account activity and transfer agency information from all sources, across all sales channels, and provides a unique business view to each user group within a mutual fund company. SalesVision provides a comprehensive storage, analytics, and reporting solution for regulatory, financial and administrative management personnel, all based on a common architecture and view of critical transaction information from multiple sources. Today, SalesVision is used by leading mutual fund companies like Bank of America, GE Asset Management, Schwab, State Street Global Advisors, US Trust, and others, to protect, control and grow their businesses.
About Access Data
Access Data Corp. is the leading provider of omnibus transparency solutions for the mutual fund industry. Access Data SalesVisionÂ® is a web-delivered, on-demand application, which solves the omnibus sub-account transparency issue for mutual fund companies, allowing them to protect, control and grow their businesses. Access Data Professional Services has enabled the worldÂs leading financial services companies to re-engineer business processes, launch new technologies, and create powerful management tools more efficiently, delivering increased profits, reduced costs and strengthened customer relationships. Access Enterprise Solutions provides expertise to cost-effectively support, upgrade and implement ERP solutions. Access Managed Services manages software, hardware and networks in its secure data center to host client applications, reduce costs and provide back-up and recovery services. To learn more, visit http://www.accessdc.com or call 1-888-799-1744.
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