FinRad is a Montreal-based software solutions vendor. The company has been in operation for over a decade providing customized trade management software to corporations and financial companies. Wil Pfeiffer, director of sales, gives DerivSource member Finrad’s “Elevator Pitch”.
Q: What is Finrad’s history? Describe your flagship product FinLogic?
In short, FinRad provides financial software solutions for corporations and investors. We combine finance, operations, accounting and technology expertise to provide robust and affordable finance solutions that can be quickly implemented to bring tangible benefits to organizations.
The story behind FinRad is that we are a Montreal-based financial software provider that has been around for over ten years and initially started out by specializing and focusing on customization development and delivery for our clients. After years of developing customized software solutions, we realized we had a robust and flexible order management and workflow solution we could offer our clients directly.
FinLogic, FinRad’s flagship solution, offers a full range of trade management functionalities required to manage virtually all types of financial instruments such as fixed income, equity, foreign exchange, and interest rate derivatives.
By fully integrating front, middle and back office operations, FinLogic automates operating workflow to help achieve effective trade processing, valuations and risk management. Our solution provides the golden mean between in-house applications and spreadsheets on the one hand, and complex and expensive information systems on the other. We believe, that this best-of-breed approach gives financial managers robust software tools that are simple, intuitive, and manageable — tools conceived to meet the daily information challenges of today’s financial manager.
Q: What are the main competitive advantages?
Price & Customization. Drawing from our years of experience in customizing solutions for our clients, we are able to provide both customized solutions and the affordable solution via our flexible FinLogic product. Typically, the custom solutions have been used to fill in coverage gaps for financial instruments and unique portfolio management struggles. While our main product Finlogic allows corporations and asset managers access to the front to back trade management system that they need at price significantly below some of the major industry players. In a world of tightening IT budgets, we feel we are uniquely positioned to serve the needs of those clients who realize they are in need of a new system and unable to justify the price of our competitors.
Q: What is FinLogic On Demand?
This is the on-line version of our core product FinLogic. It is the exact same product just delivered to clients using software as a service (SaaS) model. It has come to our attention that some potential clients were lacking the IT infrastructure that would assist them in managing and enterprise software installation. The benefits of this type of installation are several, lower monthly pricing model, reduced installation times, minimal IT requirements on the client’s side, and increased speed of upgrades to existing platform. With all of this being said, we have found that most company feel strongly about keeping their financial data within their own four walls. It really comes down to a matter of client preference because clearly the data security of our product when the server is hosted by the client or at a secure location varies little. If anything, their data in probably more at risk at their own location from someone within their own organization.
Q: What are your plans for 2009?
FinRad’s plans for 2009 are already well under way. We will continue to focus on growth of our client base outside our home market of Canada. Also, significant focus has been put on maximizing our product application around hedge accounting and IFRS conversions. We look to 2009 as the year the world discovers what a unique and flexible product FinRad has created.
For more information or to contact Finrad directly, please call (514) 938-8448 or visit their web site at http://www.finrad.com
*DerivSource’s Elevator Pitch is a new feature that allows solutions and service providers space to give their ‘pitch’ to members. The aim of this feature is to provide a brief introduction to a company and it’s products.