|By Business Wire||
|February 27, 2014 08:03 AM EST||
Clearwater Analytics, the leading provider of web-based investment accounting and reporting solutions, today announced that it has surpassed the $1 trillion mark for total assets on the company’s system. This historic milestone, reached less than a decade after the company was launched, further solidifies its status as the premier provider of automated investment accounting, reporting, and analytics.
Clearwater has become a top choice for thousands of corporations, insurers, asset managers, and financial institutions seeking to not only improve the accuracy and timeliness of their investment operations, but gain better transparency into their investment portfolios. The integrated software-as-a-service (SaaS) solution provides treasury and investment teams with much greater insight into their investment portfolios and accounting teams with a powerful set of tools to generate accurate and timely period-end reporting.
Clearwater’s founders, recognizing the value of an automated, web-based investment accounting system, launched the company in 2004. Among Clearwater’s first clients was the internet auction e-commerce company eBay, which was impressed by its SaaS approach to investment accounting, reporting, and analytics. Soon after, hundreds more leading corporations, including Best Buy, Cisco, Dell, Facebook, Netflix, Oracle, and Starbucks, implemented Clearwater’s innovative solution to streamline their investment accounting and reporting operations.
Corporations weren’t the only clients that saw the value of Clearwater. Asset managers, custody banks, and other financial institutions liked Clearwater’s investment accounting, reconciliation, and reporting capabilities and chose to partner with the fast-growing company. Asset managers such as Treasury Partners, Halyard Asset Management, U.S. Bancorp Asset Management, and many more hired Clearwater to help them increase operational efficiency and improve client-facing services.
In 2009, Clearwater began offering its solution to insurers and quickly made an impression with its fresh approach to solving widespread industry challenges. Clearwater now services more than 220 insurance clients with investment portfolios ranging from $10 million to $20 billion. Clients include Group Health Companies, The Main Street America Group, Savings Bank Life Insurance Company of Massachusetts, SCF Arizona, The Warranty Group, WellCare, and more.
Today, thousands of corporations, asset managers, insurers, and other institutions rely on Clearwater to deliver complete portfolio transparency, insightful analytics, and timely reporting. The company has offices in Boise, Idaho; New York City; and Edinburgh, U.K., and has announced plans to build a new headquarters building in downtown Boise to accommodate its growing team.
“Clearwater has expanded into new markets and increased assets on the system by focusing on client satisfaction and product innovation,” said Scott Erickson, Director of Product Management and Client Services.
“Providing reporting on more than a trillion dollars is an impressive milestone, demonstrating the immense value of the Clearwater system to organizations worldwide,” said Dave Boren, CEO of Clearwater Analytics.
About Clearwater Analytics
Clearwater Analytics® provides web-based investment accounting and portfolio reporting and analytics for corporate treasuries, insurance companies, and asset managers. Clearwater’s daily aggregated and reconciled solutions deliver the highest level of portfolio transparency available on the market today for clients such as Cisco, Oracle, Starbucks, SCF Arizona, The Warranty Group, and WellCare. Launched in 2004, with offices in New York, New York; Boise, Idaho; and Edinburgh, U.K., Clearwater Analytics reports on more than $1 trillion in assets for thousands of institutional investors. For more information about Clearwater Analytics, visit www.clearwateranalytics.com.