MT. KISCO, N.Y
TKS Solutions LLC today announced that Ramius LLC is using Penny® as its primary partnership accounting system.
TKS Solutions’ flagship software Penny It Works® helps Ramius automate key processes and unify its partnership and shareholder accounting functions into a comprehensive workflow, offering advanced management capabilities and instant access to detailed investor data.
Ramius is a privately-owned global alternative investment firm with approximately $12 billion dollars in assets under management.
The firm selected Penny to enhance and expand its reporting and data tracking capabilities.
In addition, Penny’s open and flexible approach lets Ramius offer customized reporting and easily integrates with other systems; thus helping to obviate manual input and streamline investor reporting activities.
“We utilize leading technologies to help our team maintain their competitive edge and better manage their time and resources, so TKS Solutions is an ideal partner because they understand our requirements completely,” said Shawn Armstrong, Managing Director of IT at Ramius. “Penny It Works® improves partnership and shareholder accounting functions and intuitively automates key tasks. It plays a key role in our overall infrastructure.”
Penny helps financial firms improve the accuracy of their internal reporting functions by providing an overall checks-and-balances system. By combining partnership and shareholder activities into a unified, multi-currency approach, Penny also bolsters investor reporting by giving users faster access to extensive investor data and enabling greater back-office transparency.
“Ramius’ use of Penny underscores our commitment to providing comprehensive and instant reporting capabilities for partnership and shareholder accounting,” said Ron Kashden, president of TKS Solutions. “Penny’s open architecture and easy integration within any type of financial environment helps create the most optimal and transparent accounting workflows for firms and their investors.”
About TKS Solutions
TKS Solutions is the firm that brings you the acclaimed software, Penny It Works®. TKS is a registered Microsoft partner offering specialized partnership and shareholder accounting solutions for the financial industry. Penny It Works® is used to manage upwards of 600 onshore and offshore funds with more than $450bn in AUM.
The award-winning system provides automated and instant access to detailed investor data, performance, fees, and transactions.
Penny’s open architecture facilitates easy integration with portfolio accounting systems, data warehouses and 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.