FundWorks Signs Strategic Reseller Agreement with Actuate

FundWorks extends its relationship with Actuate to deliver even more powerful and efficient reporting solutions to asset managers.

London, UK –  January 31st, 2005 – FundWorks UK Limited (FundWorks), a specialist provider of asset management reporting solutions, today announced that is has signed a strategic reseller agreement with Actuate, the World leader in enterprise reporting applications. FundWorks has already adopted Actuate as the underlying reporting engine for FundReports, its client reporting application for asset managers.

Actuate selected FundWorks as a strategic partner in its UK Reseller Programme because of its unique focus and experience in the asset management industry. Richard Sheppard, VP EMEA, Actuate said “We are delighted to welcome FundWorks into the Actuate reseller programme.  This strategic alliance is the first of its kind and enables us to build on the core strengths of the Actuate Enterprise Reporting platform by extending its reach into the asset management market with a respected and knowledgeable partner.”

By strengthening the partnership, FundWorks is uniquely able to provide a one-stop client reporting solution for asset managers. FundWorks’ industry experience will enable Actuate to further penetrate the asset management market. The move constitutes an important commercial opportunity for FundWorks and will also increase the power and efficiency of FundWorks’ products through enhanced collaboration between the two companies.

Philip Goffin, FundWorks Managing Director said “Forging closer ties with Actuate represents a significant strategic move for our business. Apart from a new revenue stream and our vested interest in strong Actuate sales, a stronger and more dedicated relationship with Actuate will help us develop better tools and deliver more powerful solutions to our customers.”

Peter Ellis, Principal at Investit, a specialised consultancy to the industry, comments: “Companies like FundWorks are very good news for asset managers, as they combine knowledge of the industry with the power of platforms like Actuate. The result is flexible client reporting solutions, designed specifically for the asset management world”. Specifically on becoming an Actuate reseller, Dr. Ellis thought that “it will make life easier for asset manager buyers who only have to go to one place for a complete, integrated solution”.

About Actuate’s Reseller Partner Programme
Actuate’s Reseller Partners, combined with Actuate’s technology leadership and focused direct sales force, accelerate Actuate’s success within the Enterprise Reporting space.  The Reseller Partner Programme benefits customers through the delivery of targeted Enterprise Reporting Applications combined with the value-added offerings from Actuate’s Reseller Partners. Actuate resellers provide added value through their business domain expertise, vertical industry expertise, geographic coverage, and/or through their application-specific software solutions.

About Actuate Corporation
Actuate Corporation is the world leader in Enterprise Reporting Applications that ensure 100% adoption by users. Actuate’s Enterprise Reporting Application Platform is the foundation on which Global 9000 organisations and packaged application software vendors develop intuitive, Web portal-like reporting and analytic applications that empower 100% of users with decision-making information. When tested against other business intelligence products, Actuate’s Enterprise Reporting Application Platform has been proven to offer industry-leading scalability and the lowest Total Cost of Ownership. Actuate has 2,900 customers globally in a range of industries including financial services, pharmaceuticals, insurance, and distribution services, as well as the government sector.

Founded in 1993, Actuate has headquarters inSouth San Francisco, Calif., and has offices worldwide. Actuate is listed on the NASDAQ exchange under the symbol ACTU. For more information on Actuate, visit the company's Web site at www.actuate.com. 

About FundWorks
FundWorks UK Limited is a specialist provider of reporting products and services to the asset management industry. The company is based in London and was established in 2003 by a group of senior managers and consultants with extensive experience in the asset management sector. FundWorks’ expertise includes client reporting, enterprise publishing, e-business and project management.

The FundWorks range of applications is designed to deliver a complete reporting and publishing solution to asset managers.

  • FundReports uses the power of Actuate to enable asset managers to produce sophisticated retail, institutional and private client reports. FundReports can deliver both customised and mass-produced reports, due to its unique component-based approach and dedicated data repository.
  • FundSource is a managed service designed to deliver fund factsheets and other documentation in print- and web-ready PDF, HTML and Microsoft PowerPoint®. FundSource automates the publishing process by constructing documents using pre-defined templates.
  • FundNets is a website publishing solution based on Microsoft’s Content Management Server®, which delivers high quality websites, extranets and intranets. FundNets empowers business users to publish content in a controlled way and includes all the web applications that asset managers need.
  • FundWorks is an official reseller of Actuate products for the UK financial services industry.

To find out more about FundWorks, visit the website at www.fundworks.com. For all press information, contact Theo Paraskevopoulos, Head of Media at theo@fundworks.com.

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