Technology Special Section



Larry Baker 
BaySys Technology, LLC




Should it Really be this Difficult to do your Billing and Reporting?


Your business is #1 providing financial services, #2 reporting on your accounts and #3 getting paid a management fee. Why are #2 and #3 so painful?


Advisory firms should be focused on managing their account’s assets and servicing their clients, not taking weeks to calculate their management fees to get paid for their services. Likewise, they should not be researching why the cash balance on their portfolio management system doesn’t match the custodian, or troubleshooting why it shows a 78% return on fixed income.


Many firms still utilize Excel for some or all of their billing process and calculating management fees. Excel is great for doing calculations, but lousy at producing easy to read statements and doing business intelligence or management reporting. Today’s billing solutions can provide for complex billing rules and exceptions, keep historical records, combine related accounts for aggregate billing and produce business intelligence reports so you have metrics regarding your accounts and households that will help you better understand your business. In many cases, technology specific to billing can be implemented and deployed rapidly, eliminating manual effort, increasing accuracy and flexibility.


Outsourcing is a way to delegate administrative tasks to a firm that can take away the drudgery of your daily download, processing, reconciliation and Quality Assurance. When you arrive at your office, the trades and transactions from the last trade date have been processed and reconciled with your custodians; securities have been updated, as well as many other functions depending on your needs. You receive a status email, and you are ready to get to work. Your quarterly reports can be created and sent to a vault, eliminating ‘snail mail’ of reporting packages—and much more.


Our solutions are tailored to your needs—BaySys provides portfolio management reconciliation outsourcing and billing solutions based on your requirements. Our solutions enable our clients to become more scalable and more profitable. Download our free whitepaper “Should I Outsource” at or contact us at 925-984-4869.


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BaySys Technology is one of the true pioneers in outsourced data management and billing solutions with over 30 years of experience working directly with advisors. BaySys specializes in streamlining your firm’s billing, portfolio management and reporting processes with outsourcing, fee billing and custom development services designed to maximize efficiency and eliminate unnecessary or redundant activities. With our wide range of experience in all areas of data management, we are able to provide much more than just back office outsourcing and reconciliation. We can recommend new solutions and processes to assist your firm so that you can fully integrate your investment in systems, technology and personnel.