New cost basis support offering further streamlines back-office operations
Scivantage®, a technology provider of Cost Basis, Tax, Analytics and Digital Wealth Management solutions, today launched Maxit Plus, a supplementary service designed to reduce brokerage operational costs.
Scivantage Maxit® is the industry’s most highly automated cost basis solution offering invaluable services not found in other systems, such as real-time processing, a variety of delivery methods including web services and direct database access, a powerful administrative suite and tax management tools.
Maxit Plus provides opportunities for financial services firms to streamline their back-office operations by having the experienced team at Scivantage perform repetitive operational tasks on their behalf. Leveraging the skilled Scivantage team to perform the tactical tasks of aligning the back-office, cost basis, and tax reporting systems, allows firms to better focus resources on achieving their primary business objectives.
“When clients partner with a Software-as-a-Service (SaaS) company, they expect not only a reliable application but the trust and strength of the people behind it. Our deep bench of experts with in-depth knowledge of cost basis, bank/brokerage back office, tax reporting, tax regulation, corporate action processing, and reconciliation operations allows us to offer a more value-based holistic solution to clients, letting them focus on their core business while allowing us to offer value in supporting the critical but non-core functions”, said Alex Sauickie, President and COO at Scivantage.
For years, firms have relied on Maxit as their solution to provide accurate and timely 1099s while reducing operational overhead cost. Scivantage has brought Maxit to the next level by delivering advanced services that ease the burden on the financial institutions’ operations and enhance the efficiency of the back-office team.
“Our goal is to improve clients’ operational efficiency and client satisfaction by replacing inefficient non-core functions with our industry-leading expertise and automation. We continually try to extend the value our clients’ organizations gain through our Maxit platform solution,” noted Cameron Routh, Chief Commercial Officer, Tax & Analytics at Scivantage. “Maxit Plus is a perfect example of how we deliver a superior service to financial service organizations; reducing back-office burden, enhancing end-client service experience and allowing our clients to better realize the strategic goals of the organization,” Routh added.
Scivantage® is a technology provider of Cost Basis, Tax, and Digital Wealth Management solutions. With proven expertise in online brokerage, tax and portfolio reporting, and wealth management applications, Scivantage delivers intelligent and actionable information that goes beyond the boundaries of traditional financial software, helping improve investment decisions. Leading financial institutions, including broker-dealers, mutual fund companies, bank custodians, trust and prime brokers, depend on Scivantage’s cloud-based technology to achieve critical business insights, generate new revenue and build stronger customer relationships. For more information, please visit https://www.scivantage.com or contact us at +1.646.452.0050