Envestnet Delivers Next-Level Billing Solutions to Intech Through Leading Wealth Management Platform

Rhea-AI Summary

Envestnet, Inc. announces that Intech Investment Management will leverage its Revenue Manager suite for asset managers, streamlining billing processes. Intech praises the fast implementation and advanced features of Revenue Manager, enhancing their revenue tracking and management.

Positive

• Envestnet's Revenue Manager offers asset managers a comprehensive suite of end-to-end billing capabilities.
• Intech Investment Management will utilize Envestnet's Revenue Manager for billing, accruals, payments, and data analytics.
• Intech praises the fast implementation and advanced features of Revenue Manager, improving their billing process efficiency.
• Envestnet's Revenue Manager empowers businesses with advanced reporting, customizable dashboards, and automated workflows.

Negative

• None.

Market Research Analyst

The announcement by Envestnet of its Revenue Manager being adopted by Intech Investment Management LLC represents a strategic move within the financial technology sector. This partnership signifies a potential enhancement in operational efficiency for Intech, which could translate into competitive advantages. For Envestnet, securing a specialized global quantitative equity manager as a client not only validates its product but also potentially increases its market share in the asset management technology solutions space.

From a market research perspective, this collaboration could reflect positively on Envestnet's stock valuation, considering that investors often look favorably upon tech companies that secure contracts with institutional clients. The adoption of Envestnet's platform by Intech might encourage other institutions to follow suit, potentially leading to a ripple effect of new business for Envestnet. Additionally, the rapid implementation timeline of 18 weeks suggests that Envestnet's Revenue Manager could set a new industry benchmark for onboarding efficiency, which is a valuable selling point for future clients.

Financial Analyst

Envestnet's announcement highlights the Revenue Manager's ability to streamline billing processes and enhance productivity for asset managers. This is particularly relevant for Intech, which manages funds for a range of institutional investors. The efficiency gains from using Envestnet's software could lead to margin improvements for Intech by reducing administrative overhead and possibly increasing scalability.

For Envestnet, the partnership with Intech could lead to an increase in recurring revenue streams, as the service model of software solutions often involves continuous payments over the contractual period. The financial impact on Envestnet's earnings could become more apparent in subsequent quarters as the Revenue Manager gains traction within the asset management industry. Investors will likely monitor the adoption rate of Envestnet's solution among other asset managers as an indicator of future performance and potential growth in earnings per share.

Technology Solutions Expert

The integration of Envestnet's Revenue Manager into Intech's operations is indicative of the broader trend in asset management towards digitization and automation. The billing solution's advanced features, such as automated workflows and customizable dashboards, align with the industry's need for real-time data analysis and management. This could lead to a paradigm shift in how asset managers approach revenue processes, moving away from legacy systems towards more agile and insightful platforms.

Furthermore, Envestnet's acquisition of Redi2 Technologies, combined with the successful deployment of its Revenue Manager, showcases the company's commitment to innovation and growth in the financial technology space. The ability of Envestnet to swiftly onboard clients like Intech can serve as a testament to the robustness and adaptability of its technology solutions, which may become increasingly important as asset managers seek to navigate a rapidly evolving financial landscape.

Envestnet's Revenue Manager Offers Asset Managers Comprehensive Suite of End-to-End, Enterprise-Class Billing Capabilities for Streamlined Processes and Elevated Productivity

BERWYN, Pa., and BOSTON, April 11, 2024 /PRNewswire/ -- Envestnet, Inc. (NYSE: ENV), a leading provider of integrated technology, intelligent data and wealth solutions, today announced that Intech Investment Management LLC (Intech), a specialized global quantitative equity manager, will leverage its innovative suite of billing solutions, including Revenue Manager, which is a holistic and insightful revenue platform built for scalable performance and exclusively for asset managers.

For more information on Envestnet's Revenue Manager, or to request a demo, please contact RevenueManager@envestnet.com.

Intech, which invests on behalf of pension funds, governments, foundations and endowments, and other institutional investors, is utilizing Envestnet's full end-to-end Revenue Manager solution for billing, accruals, payments, various automated feeds, and Envestnet's data and analytics. 

"After becoming a fully independent company in 2022, we realized our legacy billing process was not well tailored for us," said Oscar Paredes, Director, Corporate Accounting, Intech. "We were looking to gain more control, and essentially to find a business partner who could help us grow our business while addressing our concerns. We needed flexibility because we had a very aggressive onboarding schedule, and Envestnet's Revenue Manager was the perfect fit. It has advanced features built in, and Envestnet's implementation team kept a steady and fast pace during onboarding – we went from the initial sales conversation to the product fully live on our end in just 18 weeks. We were comfortable throughout the process because we could see they had the right people doing the right work."

Envestnet's Revenue Manager is a comprehensive financial management software designed to streamline revenue processes for financial institutions and wealth management firms. It facilitates the efficient tracking, analysis, and management of revenue streams, enabling organizations to optimize productivity.

"We were able to move quickly with implementation because the Intech team was highly engaged and presented clean data – we view ourselves as different from our competitors because we have developed a flexible, overlap approach to implementation," said David Ritchie, Head of Revenue Manager, Envestnet. "Clients appreciate the customization benefits that our Revenue Manager solution offers; for Intech, we saw opportunities to develop a unique calculation related to cash flows that would dramatically simplify their entire billing process."

With features such as advanced reporting, customizable dashboards, and automated workflows, Revenue Manager empowers businesses to make informed decisions and drive financial success effectively.

Boston-based Redi2 Technologies, Inc. was acquired by Envestnet in July 2022, creating the industry leading revenue and billing management platform and becoming part of Envestnet's platform of technology, solutions and intelligence; Revenue Manager is one of their legacy solutions. 

About Intech

Intech is a private, employee-owned quantitative asset manager investing on behalf of pension funds, governments, endowments, foundations, and other institutional investors worldwide. Having pioneered the application of Stochastic Portfolio Theory in 1987, Intech continues to seek distinctive alpha sources for clients in alternative equity, defensive equity, sustainable equity, and traditional long-only strategies. For information about Intech, please visit https://www.intechinvestments.com.

About Envestnet

Envestnet is helping to lead the growth of wealth managers and transforming the way financial advice is delivered through its ecosystem of connected technology, advanced insights, and comprehensive solutions – backed by industry-leading service and support. Serving the wealth management industry for 25 years with more than $5.8 trillion in platform assets—more than 108,000 advisors, 16 of the 20 largest U.S. banks, 48 of the 50 largest wealth management and brokerage firms, more than 500 of the largest RIAs -- thousands of companies, depend on Envestnet technology and services to help drive business growth and productivity, and better outcomes for their clients. Data as of 12/31/2023.

Envestnet refers to the family of operating subsidiaries of the public holding company, Envestnet, Inc. (NYSE: ENV). For a deeper dive into how Envestnet is shaping the future of financial advice, visit www.envestnet.com. Stay connected with us for the latest updates and insights on LinkedIn and X (@ENVintel).

MEDIA CONTACTS:
Amy Norcini
Envestnet
Amy.Norcini@envestnet.com 

Andrew Jennings | JConnelly for Envestnet
envestnetpr@jconnelly.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/envestnet-delivers-next-level-billing-solutions-to-intech-through-leading-wealth-management-platform-302114849.html

SOURCE Envestnet, Inc.

What suite of billing solutions is Envestnet offering asset managers?

Envestnet is offering asset managers a comprehensive suite of end-to-end billing capabilities through its Revenue Manager.

Who will leverage Envestnet's Revenue Manager suite?

Intech Investment Management will leverage Envestnet's Revenue Manager suite for billing, accruals, payments, and data analytics.

What benefits did Intech highlight about Envestnet's Revenue Manager?

Intech praised the fast implementation and advanced features of Envestnet's Revenue Manager, improving their billing process efficiency.

What features does Envestnet's Revenue Manager offer to businesses?

Envestnet's Revenue Manager offers businesses advanced reporting, customizable dashboards, and automated workflows to drive financial success effectively.