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Clearwater Analytics Continues Product Innovation with Latest Product Updates

Clearwater Analytics, a leading provider of SaaS-based investment accounting, reporting, and analytics solutions, announced the many enhancements added to their product offering during Q4 2021.

Thousands of users leverage Clearwater Analytics as an enabler of business growth, with its platform serving as a single version of truth to optimize their accounting, regulatory, and financial reporting operations. In keeping with Clearwater’s goal to do the hard work so that its clients can focus on growing investment returns, the Q4 product updates include support for the latest accounting and regulatory standards, enriched asset class reporting, and upgraded user experience.

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Clearwater’s proactive regulatory enhancements are driven to provide its clients with regulatory filings that are timely, accurate, and follow up-to-date guidance. The company’s ability to deliver enriched asset class reporting enables its clients to feel confident when investing in new asset classes or growing their business through acquisition. Clearwater also makes continual updates to its user experience and reporting so that the latest requirements are met at the click of a button while providing clients with a comprehensive and streamlined solution to meet everyday demands.

Clearwater Analytics’ Q4 2021 Product Enhancements include:

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  • NAIC 2021 Annual Guidance Updates: Clearwater proactively updated the NAIC schedules to meet the latest requirements from the NAIC so our clients can rest assured that their reports are compliant.
  • Schedule BA: Enhancements for Limited Partnerships: The company’s enhanced Schedule BA reporting allows for additional Investment “Commitments” on the BA part 2, by updating attributes of Vendor or General Partner on BA parts 1 and 2, and of purchasers and disposals on BA part 3.
  • Enhancements to Solvency II Reports: The company enhanced derivatives support through various updates to S.08.01 and S.08.02 reports, and updated methodology for assigning an Asset Listing Country in the Clearwater-calculated Complementary Identification Code (CIC).
  • Lloyd’s of London Q4 2021 Guidance Updates: Based on the latest guidance, Clearwater updated the Quarterly Asset Data (QAD) and Annual Asset Data (AAD) reports for Mortgage & Loans, Cash & Cash Equivalents, and Forwards.
  • LIBOR (London Interbank Offered Rate) Cessation and Reference Rate Transition: Clearwater created a new reference rate transition calculation type for floating securities referencing LIBOR.
  • Web Accessibility Updates: Clearwater enhanced accessibility through keyboard navigation and screen readers for various UI (User Interface) components like charts and calendars, increasing the level of compliance with requirements from the Americans with Disabilities Act (ADA).
  • New Pledge Manager functionality for Reports of Condition reporting: Clearwater clients can now view market values and security characteristics of pledged and unpledged securities in their portfolio.
  • Advanced tooling for Impairments: To empower users, Clearwater improved self-service tooling for processing impairments, thereby reducing overall turnaround time.
  • Enhanced Measurement and Reporting for Dutch GAAP (Generally Accepted Accounting Principles)Clearwater extended support for Dutch GAAP accounting regulations with new categories added for more accurate reporting.
  • Enhanced Statements updates: Clearwater reduced overall turnaround time and improved usability for the creation and distribution of enhanced statements.
  • Private Equity updates: Clearwater extended their clients’ capability to analyze and report on the various statements related to private equity assets.
  • Lot Inventory Methodology: The company enhanced lot inventory capabilities by improving calculations, flexibility, and support for new strategies.

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“Our product focus has always been based on what our clients need to be successful,” said Suraj Poozhiyil, Head of Product at Clearwater Analytics. “Our product strategy is aligned with feedback we receive from our valued clients. Furthermore, as always, we heavily research the regulations and work on parsing the guidelines published to stay ahead of the curve with emerging guidance.”

“We continue to invest significantly in innovating our product, which is evident through the many product features made available throughout Q4,” said Jody Kochansky, President of Technology and Product at Clearwater Analytics. “Our clients continue to grow both in their assets under management and through acquisition, therefore we put our effort into ensuring we can turn their operations into growth enablers.”

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