For the second consecutive year, Penny It Works® awarded Hedge Fund Accounting Software of the Year
Acquisition International recognized Penny® It Works as the best fund accounting software software in the industry,
Mt. Kisco, NY (PRUnderground) May 14th, 2015
Acquisition International recognized Penny® It Works as the best software in the industry, awarding the acclaimed fund accounting package its prestigious “Hedge Fund Accounting Software of the Year” honors.
Penny® – It Works (Penny) is produced by TKS Solutions, a registered Microsoft partner offering specialized partnership and shareholder accounting solutions for the financial industry. Penny is used to manage more than 950 funds totaling almost $500bn in AUM, providing automated and instant access to detailed investor data.
Says Art Shulman, CEO of the TKS Solutions, “we are honored to receive this recognition for the second year in a row. It is an affirmation of our singular focus on back-office fund accounting, and the quality and flexibility of the system.”
Penny’s open architecture and proven features easily integrate with portfolio accounting and customer relationship management systems, data warehouses and in-house proprietary solutions. Written by fund accountants, for fund accountants, the system is tailored to the specific needs of leading hedge funds, fund of funds, private equity firms, fund administrators and management companies and with AUM ranging from $10m to $60bn.
The TKS Solutions organization comprises a remarkable group of hedge fund accounting veterans that give it the expertise to develop software in a way that cannot be matched by its competitors.
The team’s deep understanding comes from real-world experience: CFO of a large hedge fund group, controller of a private equity organization, lead developer for a major fund administrator and more give the team an unrivalled ability to create flexible, user-friendly, automated solutions for the demanding back-office alternative investment environment.
Founder Ron Kashden explains: “We didn’t build Penny as an after-thought to a portfolio accounting or trading system; instead, we set out to create the most comprehensive, most flexible, and easiest to use partner and shareholder accounting solution. This laser-focus allows us to meet our many loyal customers’ evolving needs, and stay close to emerging regulatory requirements, such as FATCA and AIFMD.”
Kashden continued “we enhance our product on a regular basis to ensure not only that it meets today’s needs, but is robust and flexible enough to handle tomorrow’s problems. Being lauded by one of the industry’s leading publications has reaffirmed our vision that investor accounting does not have to remain in the backwaters of manual spreadsheets.
About TKS Solutions
TKS Solutions is the firm that brings you the acclaimed software, Penny It Works®. TKS is a registered Microsoft partner offering specialized partnership and shareholder accounting solutions for the financial industry. Penny It Works® is used to manage upwards of 9500 onshore and offshore funds with more than $490bn in AUM. The award-winning system provides automated and instant access to detailed investor data, performance, fees, and transactions. Penny’s open architecture facilitates easy integration with portfolio accounting systems, data warehouses and proprietary solutions. Penny is tailored to the specific needs of leading hedge funds, fund of funds, private equity firms, fund administrators and management companies with assets under management ranging from $100 million to $60 billion.