By Anthony Malakian
Published on: June 02, 2011, Buy-Side Technology
StatPro Group has announced that Unicorn Asset Management is the first firm to implement the vendor’s new cloud-based portfolio analysis tool, Revolution. StatPro’s marketing and technology director Neil Smyth tells BST that over the last year or so buy-side firms have become more comfortable with cloud-based solutions and he expects interest to grow rapidly.
“We’ve seen a change in opinions over the last 12 to 18 months, but internet and cloud-based solutions are definitely becoming a more acceptable delivery mechanism these days,” Smyth says.
Revolution is completely cloud-based and provides users with performance measurement, attribution, risk management, allocation reporting, and online sharing of reports over the web. Additionally, every communication from clients in the system is encrypted in “multiple ways”, as is the portfolio data inside the database, Smyth says.
“When we moved to this pure software-as-a-service platform, we didn’t take existing software and just slap a pretty face on the front,” he says. “Revolution is built from scratch – the database and security architecture were developed from day one to be a secure system.”
StatPro is currently working on the product’s publishing feature allowing users to take reports that are generated inside revolution and publish them online so that non-Revolution users can also view them, Smyth says.
On the analytics side, the vendor is adding new asset classes as well as more data and risk functionality. StatPro recently added stress-tests to the system. Smyth says that his firm is looking to provide upgrades every month.