CorrectNet and ProTrak International Offer Turnkey Solution for Hedge Funds

Date: Wednesday, March 5, 2008
Author: Businesswire.com

NEW YORK--(BUSINESS WIRE)--CorrectNet, Inc., a market leader in information delivery and reporting applications for many of the world’s largest investment management firms, and ProTrak International, a recognized innovator and leading provider of CRM solutions for the alternative and traditional investment management community, today announced an out-of-the-box integrated solution for hedge funds. The turnkey solution equips hedge funds with streamlined, web-based information delivery that facilitates more detailed, frequent and customized information for investors, as well as prime brokers, fund administrators and other counterparties.

The offering creates a best-of-breed solution that integrates critical client relationship management (CRM) data in ProTrak with CorrectNet’s web-based reporting and data aggregation services. At the front end, a hedge fund’s investor relations group can now use ProTrak’s CRM solution to manage investor access and reporting to their CorrectNet web portal: Changes or adjustments can be made directly from ProTrak, eliminating the need for duplicate copies of investor records and data. The deep integration of the two platforms delivers a rapid deployment solution that gives hedge funds ultra-secure, high-end web distribution combined with improved CRM, entitlements and personalization.

“Hedge funds are struggling to efficiently meet the demands of investors, particularly institutional investors, for greater transparency and more frequent and customized reporting,” said Bob Miller, CEO of CorrectNet. “To meet this demand in an operationally efficient way requires that the often complex relationship, entitlement and other content stored in a firm’s CRM systems be integrated with core reporting and information delivery platforms. ProTrak’s advanced CRM capabilities, flexibility and stellar client reputation – combined with CorrectNet’s vision that asset managers need to institutionalize and integrate their information management systems – made ProTrak the leading choice for partnering in high-end CRM.”

The depth of integration, specific implementation, and turnkey functionality creates major cost savings and efficiency benefits for hedge fund clients on both sides of the partnership. The deep integration between the two platforms means that all of the entitlement-based information in ProTrak’s CRM solution, including performance data, investor details and manager communications, are automatically transmitted to the hedge fund’s investor servicing website provided by CorrectNet. Hedge funds will see immediate benefit, with reduced time spent on administrative tasks, standardized, rapidly delivered information and improved investor servicing.

“We see this partnership as a win-win for all of our clients. Combining the ProTrak Advantage best-of-breed CRM solution for alternative asset managers, with CorrectNet, the proven leader in client reporting/web portal solutions, provides our clients with a fully integrated out-of-the-box solution to meet all of their current and future CRM and client reporting needs,” said Simon Koziel, President of ProTrak International.

ProTrak and CorrectNet will roll out the new solution immediately to clients. Both companies are exploring extending the solution’s features and services as the partnership evolves.

About CorrectNet

Founded in 1997 in New York, CorrectNet is a market leader in information delivery and reporting applications for many of the world’s largest investment management firms. The company's game-changing data management approach provides a business process outsource (BPO) of technology, infrastructure, operations and people to manage the aggregation, enrichment, quality assurance and formatting of complex investment data. CorrectNet facilitates and manages data delivery via rich web reporting applications to investors, portfolio managers, operations teams and executives. CorrectNet has demonstrated a unique ability to satisfy the toughest transparency and reporting standards of leading hedge funds, funds of funds, fund administrators, prime brokers and wealth advisory firms. Proven in over 900 implementations, CorrectNet has emerged as an industry driver behind the institutionalization of data management processes, helping organizations scale, improve quality, accuracy, control, and efficiency in their information delivery and reporting applications. CorrectNet has offices in New York City and Hauppauge, New York. For more information about CorrectNet, visit www.correctnet.com.

About ProTrak International, Inc.

ProTrak, a New York City-based firm, is a recognized innovator and investment industry veteran and has been providing best-of-breed client relationship management (CRM) solutions to the investment management community for over 20 years. ProTrak has the only CRM software suite that fully serves the needs of both traditional and alternative investment managers. The ProTrak Advantage CRM system improves the effectiveness of client service, sales & marketing and research teams by providing tools for managing the complex, multi-dimensional relationships common to the investment management industry. ProTrak’s global client base manages in excess of $1 trillion in assets and employs over 1,000 professionals. For more information visit www.protrak.com.