AUSTIN, Texas, March 23, 2021 /PRNewswire/ -- Harmonate announced it will relocate its corporate headquarters from San Jose, California to Austin, Texas as the private capital data operations company scales to meet demand from fund administrators, asset managers and allocators for its Conductor product.
"As Harmonate grows, we are doubling down on best-in-class enterprise technology quality for private capital," said Harmonate CEO Kevin Walkup. "Austin, Texas meets our need for results-driven technology talent, private capital domain expertise and a public policy environment that rewards growth. We will always be proud of our Silicon Valley inception, and we are equally energized by the fuel our new Texas home brings to the transformation of private capital data operations."
Harmonate is driving a quality-first approach to private capital document processing and data operations that accelerates the speed and flexibility of fund services.
The company's Conductor product provides proven automated data extraction from general ledger systems, statements and balances, providing data normalization, creating specialized data warehouses, and intelligently feeding client dashboards, reports and service level agreements. Outputs are also configured for internal general ledger administration, enterprise resource planning and reporting. Harmonate's data aggregation process encompasses configuration of schedules, data sources, reference data and master data. This provides reporting on expected and actual results to support management through straightforward dashboards.
Conductor has demonstrated the full-scale capacity to reduce reporting delivery timelines by more than 80 percent, or from two weeks to 24 hours. In addition to its speed, quality, and capacity to make data more easily used in more ways, Conductor has also shown capability to provide 20 percent cost savings in year one of implementation, and 80 percent savings in ensuing years.
Harmonate is a quality-first data services platform for funds that frees operations from the limits of legacy systems and closes the information gap between fund managers and investors, as well as between funds and the public sector. The company's purpose-built solutions streamline middle office processes — simplify complex, high velocity transactions, and help ensure security and regulatory compliance through each step of a fund's life cycle.
With its proprietary fundstech platform and leveraging more than 15 years of specialty financial administration leadership, Harmonate is helping define best practices in each of the markets it has supported. For more information, please visit harmonate.com.