Confluence’s industry-leading solution successfully completed TSR filings for fund administrator and asset manager clients
Confluence Technologies, Inc. (“Confluence”), a global financial technology solution provider for regulatory, analytics, and investor communications, announced today that its industry-leading Unity platform suite of products went live and completed filings for the U.S. Securities and Exchange Commission’s (SEC) Tailored Shareholder Reports (TSR). Confluence helps fund administrators and asset managers produce TSR documents and filings for tens of thousands of classes and achieve compliance with the SEC TSR.
Confluence developed its investor communications solution to ease the data management challenges and automate the creation, publishing, and Inline eXtensible Business Reporting Language (iXBRL) tagging of the TSR documents. The solution removes recurring manual work and user interaction to return final documents in seconds rather than days to weeks.
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To produce TSR documents, Confluence worked closely with the industry to understand the needs and business challenges for easy and repeatable data integration, and template creation, driving efficiency in production and successful filing of compliant documents.
Confluence integrated its new and innovative Rex artificial intelligence solution to solve the reconciliation challenges of producing multiple concurrent documents. Confluence Rex mines and pinpoints discrepancies in both language and numerical information between financial statements and TSR documents, including those produced by a third-party provider. Confluence’s clients can leverage Rex to automate the task of reconciling thousands of common data points and commentary across the production, delivering consistency and uniformity of publicly facing materials.
“We have had an amazing response from clients as we worked together to meet the TSR readiness and reporting deadline,” said Todd Moyer, President and Chief Operating Officer at Confluence. “We are extremely appreciative of our client relationships in delivering this best-in-class solution and the opportunity to partner with them throughout the process of preparing for these new SEC reporting enhancements. Being the partner of choice for clients is not something we take lightly; we pride ourselves on delivering solutions that evolve the regulatory and compliance needs of the industry.”
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