News and Notes : Institutional Billing : Asset Management Billing : Redi2.com

Industry-first SaaS (Software as a Service) fee billing offering fuels record-breaking growth for Redi2 Technologies

February 03, 2009

OAKLAND, CA - Redi2 Technologies, a leading provider of sophisticated yet simple-to-use fee billing solutions for the global financial services industry, today announced record-breaking revenues for 2008, driven in part by its Software as a Service (SaaS) fee billing offering. SaaS gives clients secure online access to Redi2’s fee billing software to build profitability while avoiding the costs and complexity of in-house technology management.

In January 2008, Redi2 became the first company to announce an outsourced fee billing solution. Since then, winning more SaaS customers than any other fee billing vendor and consistently delivering even the most complex implementations on time and within budget have fueled the strongest growth in Redi2's history. Redi2's 2008 revenues and client base increased 50 percent over 2007 figures. To accommodate its expansion, Redi2 opened a new office in Boston in early 2008.

"We continue to gain momentum as the industry seeks better ways to process fees accurately and more cost-efficiently," says Seth Johnson, CEO of Redi2 and co-chair of Money Management Institute's Billing Standards Sub-committee. "Additionally, customers know they can rely on our unsurpassed service levels and expertise in fee billing automation."

Historically, Redi2 has sold its software primarily to institutional asset managers. With the increased complexity of fee-based wealth management and brokerage operations, Redi2 is now seizing a growing percentage of business by converting clients from proprietary and other vendor products across industry segments, including investment sponsors, broker/dealers, TAMPs (turnkey asset management programs) and money managers.

Customer needs for more cost-efficient and robust fee billing support are driving the growth in demand for Redi2 Revenue Manager^TM and Redi2's SaaS offering, in particular. According to an August 2008 TowerGroup research report, Fee Management Solutions: The Who, What, and Why of Managed Account Fees, "TowerGroup expects Redi2 to continue to capture market share as it has defined itself as an expert provider of revenue management solutions."

Available as either installed software or via the SaaS delivery model, Redi2 Revenue Manager automates account setup and termination, invoice generation, fee/payment reconciliation as well as adjustments and reversals. Redi2 Revenue Manager helps global financial services firms streamline operations, improve cash flow, reduce costs, enhance client service and meet compliance obligations.

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