Onyx Software Corporation will provide the customer relationship management (CRM) component to Encompys, a newly-created venture that supplies asset managers with a fully integrated, global straight-through processing (STP) solution via the Internet.
Backed by Accenture, Advent, Compaq, Microsoft and The Bank of New York, Encompys combines the solutions of leading technology providers with the resources of select financial services organizations. The effort will result in providing asset managers with a fully integrated end-to-end STP outsourcing solution, all through a dedicated Internet portal. STP solutions are needed to help financial markets firms make the move to one-day trade settlement (T+1) while meeting the global demand that has resulted from the explosive growth of online trading. Encompys offers asset managers an efficient, affordable and lower-risk alternative to building their own STP-compliant systems or integrating separate components internally.
Onyx's XML-based Internet platform and thin-client CRM portal will bring critical enhancement to the Encompys solution. The coupling will provide a single point of entry for all pre-trade, trade, and post-trade activities and also enable asset managers to increase their revenue stream through cross-sell, up-sell and new service offerings. Additionally, Onyx's platform will facilitate rapid implementation, seamless integration, and effective management of the critical and complex relationships in the asset management industry.
"We made a decision to choose only the best partners to power the Encompys solution -- partners like Onyx," said James P. Honohan, president of Encompys. "To make our straight-through processing venture viable, we required a scalable, highly-customizable, vertical-ready solution that would allow asset managers to closely track relationships with customers and connect on the back end to the financial services tools required to get the job done. Onyx's leadership in hosted CRM, coupled with more than 50 successful implementations at leading asset management firms worldwide, made them an ideal CRM partner for this venture."
Founded in 2001, Encompys brings together best-of-breed technology, consulting and financial service providers to produce an end-to-end STP solution that incorporates comprehensive CRM capabilities. Encompys has pulled from the strengths of its strategic partners to provide a single point of entry for all pre-trade, trade and post-trade activities through a dedicated Internet portal while linking portfolio services to CRM.
Onyx Software Corp. is a global supplier of customer-centric e-business enterprise applications that power a company's entire business world, connecting sales, marketing and service organizations with customers and partners. Onyx customers include American Express, Broadwing, Commerce One, Credit Suisse, Dreyfus, FirstWorld Communications, Portland Trail Blazers, Prudential Investments and Sierra Health Services.