New York, August 5, 2020 | Portfolio BI, a leading provider of front-to-back solutions for order management, portfolio management, enterprise data management, and reporting for the buy-side, today announced a rapid increase in new business since the coronavirus-induced lockdowns in March this year.
In the second quarter from April to June, Portfolio BI experienced an increase in both new enterprise wide-deployments and new contracts. The growth is initiated by financial institutions needing to improve their operational resilience, control cost, and move to cloud-based enterprise solutions.
Jeremy Siegel, CEO of Portfolio BI, said, "The pandemic has illuminated that the reliance on manual work, legacy technologies, and on-premise installations serve as an Achilles Heel. What differentiates Portfolio BI is that we've modeled our solutions and business to support and deliver agile, scalable solutions in the cloud, that deal quickly with a fast-changing business environment such as this current pandemic."
Many buy-side pundits and advocates of digitalization in the broader technology world believe that the coronavirus outbreak is likely to trigger changes of a massive scale. The keyword summarizing today's actions is operational resilience, which relies on several capabilities: elastic collaboration, virtual workspaces, networking, business, and technology continuity, and security, all of which must be achieved at scale.
"The increased demand for our EDM, OMS, and PMS solutions demonstrates that there is a clear and pressing need to improve the resilience and efficiency of middle-and back-office processes," said Jeremy Siegel, CEO of Portfolio BI. "We are an innovative company delivering cutting-edge technology and data-driven intelligence that we consistently leverage in our solutions and service."
Portfolio BI (PBI) empowers the most sophisticated buy-side ﬁrms to take control of their portfolio and trading data. Born from the merger of LUX FTS and NorthPoint, and backed by Credit Suisse Asset Management's NEXT Investors, our clients benefit from our integrated platforms, local technological expertise, and seasoned financial experts.
We help the buy-side access, organize, and analyze their data; we help firms act on it. With the most configurable solutions on the market, our platforms can be specifically tailored to unique business needs. 150 top tier hedge funds, asset managers, family offices, funds of funds, and institutional investors have trusted PBI's technology for over 25 years. www.portfoliobi.com