Bonaire Software Solutions has announced its highest revenue and profit since the company was founded in 1999. 2011 marked a record-setting year for Bonaire as the firm experienced notable expansion in light of increasing needs amongst global asset management firms in response to regulation and operating efficiency mandates.
During the year, Bonaire signed on several clients, expanding the firm’s client base to over 105 firms worldwide, representing 13 out of 20 of the top largest global investment managers. With the amplified demand for firms to provide transparent fee disclosure, Bonaire saw notable increased business in 2011 as investment managers aggressively looked to improve automation of their revenue management. In 2011 alone, Bonaire’s flagship product, REVPORT, processed USD9.2 trillion in AUM. REVPORT helps asset managers and mutual funds process and reconcile various fees in a timely, accurate and efficient manner.
Additionally, the firm made several strategic new hires across its global offices, expanding its headcount in both Boston and London. This included the hire of Robin Sproull as Director of Programme Management for EMEA.
“Our growth represents the increased need within the fund management industry to comply with new regulations. With growing demand for REVPORT, we have added resources to our development, implementation, sales and client services staff,” says Chris John, Founder and CEO of Bonaire. “Our record-setting year is a reflection of our ongoing goal to help improve the business of asset managers and deliver real benefits to our clients’ bottom lines.”
