New York, NY, May 07, 2010 --(PR.com
)-- eFront, a leading software solutions provider for the financial industry, today announced that TIAA-CREF, a national financial services organization and leading provider of retirement services for the non-profit world, has implemented eFront's FrontInvest. (http://www.efront.com) FrontInvest is a software suite for alternative asset management.
TIAA-CREF ( http://www.tiaa-cref.org ) is utilizing FrontInvest to support its private equity investment operations through the implementation of a private equity fund accounting system. This system processes, controls, monitors, maintains and reports on the accounting records of TIAA's (and its subsidiaries') Private Equity Funds portfolio using Statutory Accounting Principles (SAP). FrontInvest will enable TIAA-CREF to integrate the organization's accounting and front office processes within a single, global information system that includes: contact management, deal flow tracking, fund administration, investor management, accounting and reporting dashboards.
"FrontInvest is a significant upgrade as we now have access to a Web-based, scalable solution with a wide range of functionalities to cover multiple assets in an integrated manner," said Andrew Miller, Director, Asset Management Enterprise Application Services - Global Real Estate & Private Markets, TIAA-CREF. "This professional software solution will improve our internal processes, enable us to manage the ever increasing complexity of our business and accounting activities and in turn, enhance the service we provide to our clients."
"We are very pleased to have TIAA-CREF as a client and its implementation of FrontInvest is testimony to the hard work of our team in New York and the benefits that eFront's software solutions deliver," said Laurent Bréboin, Chief Operating Officer, eFront. "As a leading provider in North America, we are in a strong position to address the current market expectations for a single Front-to-Back solution covering multiple alternative assets like Private Equity and Real Estate."
TIAA-CREF ( http://www.tiaa-cref.org ) is a national financial services organization with $414 billion in combined assets under management (12/31/09) and the leading provider of retirement services in the academic, research, medical and cultural fields.
TIAA-CREF Individual & Institutional Services, LLC and Teachers Personal Investors Services, Inc., members FINRA, distributes securities products.
eFront is a leading software provider of solutions dedicated to the financial industry with a recognized expertise in Alternative Investments and Risk Management. eFront's solutions serve over 200 customers in more than 28 countries, including major companies in the Private Equity, Real-Estate Investment, Banking and Insurance sectors. Founded in 1999, eFront has offices in New York, Montreal, London, Paris (HQ), Dubai, Bonn and Jersey. eFront is a public company listed on NYSE Euronext. http://www.efront.com.
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