Northern Trust Hedge Fund Services (NTHFS) has announced an agreement with Donnelley Financial Solutions (NYSE: DFIN), a provider of risk and compliance solutions, to utilize ArcReporting to automate the creation, review and output of financial statements for clients, including alternative investment managers and large institutional investors.
Donnelley Financial Solutions’ ArcReporting is a software solution 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.
“Northern Trust continually looks for ways to enhance our processes and add value for our clients,” said Jeff Boyd, Head of Northern Trust Hedge Fund Services, North America. “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.”
“We are very excited to partner with Northern Trust Hedge Fund Services to automate their shareholder report creation process,” said Eric Johnson, president of Global Investment Markets at Donnelley Financial Solutions. “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.”