Northern Trust Hedge Fund Services (NTHFS) has teamed up with Donnelley Financial Solutions to utilise ArcReporting to automate the creation, review, and output of financial statements for clients.
DFIN’s ArcReporting software solution is designed to manage the increasing challenges and mitigate the risks associated with producing financial reports.
Under the agreement, ArcReporting provides a streamlined approach to data aggregation and processing of year-end financial statements for NTHFS clients.
The solution also includes enhanced systematic controls such as consistency validations across multiple sets of financial statements, audit trails for changes, and version controls.
Jeff Boyd, head of NTHFS, North America, said “Northern Trust continually looks for ways to enhance our processes and add value for our clients.”
“With Donnelley Financial Solutions’ ArcReporting, we are able to automate financial reporting for our clients. This provides us a more controlled process and enables our clients to further focus their attention on content specific aspects of financial reporting.”
Eric Johnson, president of global investment markets at DFIN, commented: “We are very excited to partner with NTHFS to automate their shareholder report creation process.”
He added: “ArcReporting promotes consistency through content sharing and automation, and gives customers confidence their calculations and content are accurate and uniform. Our solution helps create a more efficient process allowing Northern Trust to produce financial statements.”
