The Sea Port Group Chooses Xtiva’s Sales Compensation Solution for its Institutional Brokerage Sales and Trading Compensation Business Unit
New York, NY (News4us.com) November 5, 2010
Xtiva Financial Systems, a leading provider of enterprise compensation solutions for the financial services industry, today announced that The Seaport Group has signed a multi-year agreement with Xtiva Financial Systems. Seaport will be deploying Xtiva’s sales compensation solution for its institutional brokerage sales and trading compensation business unit.
“Our expertise is sell-side brokerage, not developing and maintaining sales compensation systems. We wanted a market-leading application to support our professionals and, after careful evaluation of the third-party solutions available today, we chose Xtiva,” said Markus Witthaut, Chief Financial Officer of The Seaport Group.
“The ability to easily integrate with our internal systems was a key decision point for us. And, we are looking forward to eliminating all the manual spreadsheets and exception-based processing that we are doing today. We are confident that Xtiva will be able to save us considerable operational dollars and support our growth for years to come.”
“The Seaport Group is another in a long line of top-notch brokerage firms that have chosen the Xtiva platform for their production reporting and sales compensation needs,” said Rick Scearbo, Vice President of Sales & Marketing at Xtiva. “Because our platform is so flexible we will get them up and running quickly and painlessly.”
Xtiva provides the first industry-integrated approach to truly integrated compensation management, sales performance measurement, institutional client performance management and business policy management. Xtiva’s offering supports today’s needs for a managed solution in meeting a wide range of business, operations, finance, and technology needs. Xtiva provides clients with the tools they need to drive their businesses forward by enabling clients to:
+ Improve the quality and focus of reporting across the enterprise
+ Reduce total cost of ownership of advanced enterprise reporting solutions
+ Manage revenue and expenses more effectively
+ Bridge gaps between regulatory and financial reporting
About Xtiva Financial Systems
Xtiva Financial Systems is a leading provider of hosted solutions for the brokerage industry. Founded in 1998 and based in New York City, Xtiva has developed state-of-the-art technologies that enable retail and institutional broker/dealers to streamline operations, from sales compensation and production reporting to supervision of advisor licensing and compliance issues. With over 85 clients and key industry alliances, Xtiva is the leading provider of sales compensation solutions to the brokerage industry.
Xtiva’s clients include Ameriprise, AXA Advisors, MetLife, Mutual of Omaha Investor Services, New England Securities, RBC Wealth Management, Northern Trust, UBS, and Walnut Street Securities. For more information about Xtiva, visit http://www.xtiva.com.
About The Seaport Group
The Seaport Group LLC provides investment banking, research and analysis, and institutional sales and trading services. Its investment banking services include corporate finance, and mergers and acquisition services, as well as junior capital transaction services, including debt and equity, project and single asset financings, and the sale or purchase of non-liquid equity positions of minority and majority stakes.
The company also provides research and analysis of various industries, including power, automotive, airlines, telecom, alternative energy, healthcare, textiles, and consumer products. In addition, it deals in securities, including equities, bonds, bank debt, trade claims, and private holdings in the public and private markets, as well as focuses on securities of companies that are distressed or have undergone a restructuring.
The company was founded in 2001 and is based in New York, New York with an additional office in Los Angeles, California. See http://www.theseaportgroup.com for more information.
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