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In today’s sell-side environment, how do you ensure the correct fees are being collected? Meet Delta Data's Revenue Manager
The proliferation of fund company selling agreements and a vast range of revenue sharing arrangements across these relationships adds tremendous complexity to the process of ensuring correct fees are being collected. Implementing the proper controls to ensure the effectiveness and accuracy of this key business process is critically important.
Delta Data’s Revenue Manager delivers confidence and control by automating the management of every aspect of mutual fund fees, revenue sharing and commission processing. With a focus on flexibility, process control and compliance with regulatory standards, Revenue Manager takes the guesswork out of fee and commission management. In a world of transparency and full disclosure, revenue, commission and fee administration is a process in which precision, analysis, flexibility and control are critical functions.
Key Benefits
- Ensures precise calculation of both receivable and payable revenue sharing
- Provides a powerful fee wizard that allows users great flexibility in the setup of fee agreements and calculation formulas
- Frees staff from manual tracking and reconciliation of fees and commissions to focus on more critical tasks
- Facilitates compliance by ensuring timely posting of fee accruals to the general ledger system
- Reduces exposure to risk by automating regulatory compliance and maintaining a comprehensive audit trail
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REVENUE MANAGEMENT KEY FUNCTIONALITY
- Revenue agreement wizard for easy setup of revenue sharing agreements
- Ability to include/exclude multiple account attributes for inclusion or exclusion in a particular revenue agreement
- Account attributes for each revenue calculation are dynamically determined at time of the revenue calculation. This allows for zero maintenance of revenue agreements due to adding new plans or trust accounts.
- Complete omnibus and sub-omnibus account calculations
- Calculates average daily balance for all accounts with multiple methods to select from
- Creates accounts receivable amounts which reconcile with actual payments received
- Supports the NSCC’s Payment aXis service with auto matching of amounts received with calculated accounts receivable
- Ability to create unlimited number and type of invoices for billing funds for fees due
- Ability to create accounts payable fee agreements for passing revenue to others or back to trust accounts or plans
- User defined tolerance levels
- Supports all fee types – Servicing fees, revenue sharing fees, sub-TA fees, 12b-1 fees, etc
- Ability to calculate and create monthly income accruals even if quarterly based fee agreement
- Creates journal entries for integrating with client general ledger systems
- Can automatically create true-up transactions when calculations are within acceptable tolerance levels
- If calculation is determined incorrectly, system function allows you to rollback the calculation with one click and then re-calculate the fee
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Delta Data provides the back-end solutions that companies in the mutual funds industry use to process trillions of dollars of transactions and keep on top of their data.
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