MT. KISCO, N.Y.--(BUSINESS WIRE)--
Ingenious Initiatives, developers of partnership and shareholder accounting software for hedge funds, fund administrators, private equity firms, investment management companies and family offices, announced today the availability of Version 9.3 of its flagship back-office accounting software, Penny® – It Works (Penny). The Penny enhancements will further simplify investor accounting with a series of new add-on modules and updates to meet the changing landscape of accounting needs, while maintaining the ease-of-use, powerful reporting and seamless integration for which the software is renowned.
Penny® Version 9.3 represents the largest update of the award-winning software to date. Two of the most notable additions are the Workflow module and the regulatory reporting feature. The new Workflow module guides users through a set of pre-defined tasks that are assigned and monitored by supervisors. This helps streamline and manage workflow functionality from start to finish to improve tracking capabilities by systematizing the specific clients’ standard processes and procedures. The regulatory reporting feature defines specific regulatory requirements, such as Form PF, as well as recent Alternative Investment Fund Managers Directive (AIFMD) and U.S. Commodity Futures Trading Commission (CFTC) regulations. This will help track and comply with regulatory reporting tasks that are unique to them and generate reports that are specific to their needs.
“Penny® Version 9.3 is the next stage in the evolution of our software, but still rings true to our original goal of helping our clients relieve the most common accounting headaches and freeing up resources to focus on more mission-critical objectives,” said Ron Kashden, co-founder of Ingenious Initiatives. “Our clients are facing increased regulatory demands and seeing higher operational costs just to keep up with basic investor accounting, and this update is designed to ease those burdens.”
The acclaimed solution is used by more than 600 onshore and offshore funds to provide automated and instant access to detailed investor data, performance, fees and transactions. To view the other new features and enhancements included in the updated, Version 9.3, click here: http://www.pennyitworks.com/pdf/Penny-WhatsInItForMe_9_3-4.pdf
About Ingenious Initiatives
Ingenious Initiatives, the people who bring you the acclaimed software, Penny® – It Works, is a registered Microsoft Partner that offers specialized partnership and shareholder accounting solutions for the financial industry. Penny® is used to manage more than 640 funds with more than $350 billion in assets under management, providing automated and instant access to detailed investor data. Penny’s® open architecture and proven features easily integrate with portfolio accounting and customer relationship management systems, data warehouses and in-house proprietary solutions. Penny® is tailored to the specific needs of leading hedge funds, fund of funds, private equity firms, fund administrators and management companies with assets under management ranging from $50 million to $60 billion. For more information, please visit: http://www.pennyitworks.com.
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Courtney Hurst, 617-236-0500