Fund administrator Strata has adopted TKS Solutions’ Penny – It Works system for back office accounting.
Key considerations in Strata’s selection process were the ability to handle both shareholder and partner accounting, master / feeder structures, complex allocations, and fund of funds.
Jared Broadbent, a managing partner in the firm, said: “During our rigorous assessment process, Penny–It Works handled a wide variety of real-life scenarios in nearly every type of fund.
“The system is easy to use and easy to initialise, so we can deploy now and back-fill later for clients that want a full history in the system. Equally importantly, Penny is backed by a knowledgeable and responsive team. We bring high value to our clients and TKS’s accounting solution will enhance our client offering and support our growth.”
“Strata’s use of Penny demonstrates our commitment to helping alternative investment accountants create the most optimal and transparent accounting workflows for firms, their clients, and their investors," said Ron Kashden, founder of TKS Solutions.
