IntegriDATA, a leading private equity and hedge fund software provider, announced EAS Expense Allocation Cloud, a fully hosted SaaS offering for its EAS Expense Allocation System. The new service, introduced in beta earlier this year, allows alternative investment advisors to automate the management and allocation of expenses without any in-house IT infrastructure. EAS Cloud is faster to deploy, cost-effective, infinitely scalable, and always up to date, making it easier than ever to improve expense accuracy and efficiency, and to ensure allocation compliance.
“Many of our clients are migrating their infrastructure to the cloud, and we are excited to help them on their journey,” said Mitch Schulman, CEO of IntegriDATA. “With EAS Cloud as a service, clients no longer need to think about installations and upgrades – open a browser, and it all just works.”
Recommended AI News: Introducing WordPress VIP for Salesforce: a Powerful, Time-saving Integration for Content Marketers
EAS Cloud Platform
EAS Cloud is powered by AWS and built with an AWS Premier Partner to AWS Well-Architected Framework best practices. Designed to SOC 2 security standards, EAS Cloud is hardened and secured using industry-leading security solutions. EAS Cloud is listed in the Cloud Security Alliance STAR registry.
Expense Allocation and EAS
Expense allocation is a complex private equity and hedge fund accounting process to proportionately distribute shared expenses across management companies and funds. The SEC made expense allocation a compliance priority after discovering alternative asset managers were unintentionally misallocating costs and causing investors to overpay expenses. Renewed as an investigative priority for 2022, SEC misallocation penalties often exceed $1 million.
Recommended AI News: Prisma Cloud Delivers Context-Aware Software Composition Analysis to Secure Deployment of Open Source Software
IntegriDATA developed EAS to automate expense allocations and eliminate the risk of misallocation. With EAS, private equity and hedge fund managers can instantly perform complex allocations without the risk of costly mistakes. EAS also helps advisors manage general expenses and accounts payable with invoice and T&E collection, approval workflow, and automated journal entries.
Other EAS features:
- Expense management and approval workflows
- Accounts payable and receivable intercompany settlements
- Allocation compliance and audit tools
- Advanced allocation rule processing
- APIs and accounting system integrations (e.g., QuickBooks, Intacct, Workday, Investran, Geneva)
Recommended AI News: HUB International Embeds Auto Insurance into Wayne Reaves Auto Dealer Management Software
[To share your insights with us, please write to sghosh@martechseries.com]
Comments are closed.