Virtusa launches compliance suite

Virtusa Corporation, an IT services company, recently launched CSalt, Virtusa's Compliance Suite for Alternative Investments.

"CSalt is a suite of solutions designed to ease the burdens of alternative investment advisors and those that support them. CSalt was designed and built with global regulatory requirements in mind, including Form PF, 13F, annual ADV updates, CPO-PQR, OPERA and the AIFM Directive in Europe," a spokesman for the company said.

The suite of solutions allows firms to import and store data and fulfill multiple regulatory requirements from one place.

CSalt enables private fund managers (hedge and private equity funds) to import, translate and manage data from multiple data sources such as those from fund administrators, prime brokers and internal sources (inclusive of trade order management, portfolio management and CRM).

"Once imported into CSalt, this vital data becomes available in one language for simplified regulatory and investor reporting, including e-filing where available.

Unlike other solutions available in the market, that require users to fill out rigidly formatted templates or spend weeks building 'pipes' to the users' source data systems, CSalt is flexible and customisable for easy set-up and greater user control," he said.

"The data that must be captured for Form PF and other reporting isn't trivial, and it puts stress on many organisations," said Senior Vice President, Financial Services Consulting at Virtusa, Erik DiGiacomo. "These regulations don't simply create a new set of forms to fill out, they require entirely new processes that must be supported by innovative technology and renewed data management rigor."

"Today's Chief Compliance Officer needs a solution that is easy and efficient to implement and does not require costly and time-consuming IT resources. Given the collaborative nature of today's compliance process, Virtusa developed a solution that is accessed by a secure web interface and hosted in a redundant, backed up and secure data centre," the spokesman said.

"Although CSalt is designed to handle massive amounts of data from disparate sources, the end-user experience is straightforward and uncomplicated," he said.