BARS is so much easier to use than our old methodology
San Francisco, CA (PRWEB) February 7, 2009
BaySys Technology, a financial services and technology company, today announced the launch of their billing system for investment advisors, built in partnership with EphronTech, a technology services company.
The product named BARS - Billing And Reporting Solution - is a full-featured billing system built on Microsoft Windows platform. BARS fills the need for a reasonably priced billing system that delivers the functionality and features of systems that are significantly more costly.
"BARS enables us to process our billing in days, instead of weeks" comments Jim Joseph, Vice President of Financial Services Advisory, Inc. (FSA) , an investment advisor firm in Maryland with 2000 portfolios and 300 families. "We have some complex schedules with non-billable assets, discounts, interested parties and rep payouts, and BARS handles everything. In addition, we can run exception reports to find out if accounts will hit their minimum or if accounts don't have enough cash." Mr. Joseph adds.
"We developed BARS to be a stand-alone application that performs industry standard billing processes and produces professional, easy to read billing statements that will work with any portfolio management system in the market" says Larry Baker, Principal of BaySys Technology. "Billing complements our outsourcing offering also - it's an added service that we can now provide to our clients that are using BaySys Technology to reconcile their accounts."
"We selected the .NET framework with SQL Server as the backend for BARS because of the flexibility it provides for developing a standalone product while supporting upstream integration from multiple portfolio management systems as well as facilitating downstream integration to make other systems that need the processed billing data" explains Anton Prakash, CEO of EphronTech. "Our partnership makes it easier to continue to enhance BARS to meet every single billing feature need of the industry while providing excellent customer support to the existing customer base" adds Mr.Baker.
BARS gives the advisors the ability to run a number of internal management reports that will enable them to see how much revenue has been generated by any subset of their accounts over any period of time, and to look at the status of an account - whether active or inactive. Advisors can choose which accounts appear on a statement for a family, and which account is responsible for paying the fee. The application makes it easy to integrate with custodian systems.
"BARS is so much easier to use than our old methodology" says Lisa Martin, Operations Associate at FSA. "I used to dread creating our billing statements, now it's a piece of cake!"
BaySys Technology, LLC (http://www.baysystech.com) is an outsourcing, consulting, services and development firm that provides products and services to the investment advisory community since 1995.
EphronTech LLC (http://www.ephrontech.com) is a technology services firm based in San Francisco bay area with strong execution capability in India. With a tagline "Locally delivered offshore solutions", the firm strives to brings cost savings to clients with high quality and timely delivered IT and BPO (Business Process Outsourcing) solutions.
BaySys Technology, LLC