Pendo Systems Moves Investment Accounting Engine to Tier 3
Pendo Systems Moves Investment Accounting Engine to Tier 3 Infrastructure as a Service Platform
Acquires On-Demand VMware based Compute Resources not Available from Managed Hosting Providers
Seattle, WA, December 17, 2007 – Tier 3 the Infrastructure as a Service (IaaS) platform experts, today announced that Pendo Systems, an investment accounting engine provider has chosen Tier 3 (www.tier3.com) to help deliver its application as a service (BasisPoint®). In preparation for Pendo Systems planned move to SaaS delivery, the company realized it needed more and better services usually found with the typical Managed Service provider. Pendo Systems found those services in Tier 3’s IaaS Platform. In addition, Pendo Systems sought not only an IT platform to deliver BasisPoint, but to also provide an environment for their customer’s whose application needs demanded a dedicated/customized environment. They found both in Tier 3. Pendo Systems will also be reselling Tier 3’s services as a dedicated platform to their clients.
Pendo Systems’ core product, BasisPoint®, is a global enterprise-grade investment accounting engine that is multi-currency, multi-basis and multi-client. The BasisPoint software features a unique, sophisticated functionality that is rapidly becoming the new standard in investment accounting system delivery.
Kaj Pedersen, COO, Pendo Systems, said, "We had been delivering our application to our clients on premises, client hosted. We understood that to be more competitive in today’s software environment we must move our product delivery method to a service. We also knew that as our user base grew, we needed more service than the typical managed service company could provide, like extending our VLAN to the datacenter and providing server scalability on the fly. Tier 3 IaaS platform provides a proactive approach to delivering our applications, multi-point customer experience monitoring and application monitoring. Choosing to deploy with Tier 3 is the best direction we could have chosen."
Jared Wray, Principal, Tier 3, said, "Pendo Systems’ story makes clear how Tier 3 is different from other managed hosting providers. Like Pendo Systems, any Web company that is running a live application to provide a service to users via the Web needs much more than a place to park its Web pages and underlying program code. Tier 3 has expertise in all aspects of Web application delivery and we handle all the details, so Pendo Systems and on-demand companies like it can focus on their core businesses."
About Tier 3 On-Demand
A comprehensive, Infrastructure as a Service platform, Tier 3 platform enables companies to quickly and securely offer applications on demand. Tier 3’s platform is a complete platform for SaaS delivery. Going beyond managed hosting, the Tier 3 On-Demand platform includes:
» Best-in-class scalable software, hardware and network infrastructure
» Application monitoring and tuning
» 24x7 level 3 application admin support
» VM Ware standardized platform delivering High Availability and Scalability on the fly.
» Quick migration from Physical to Virtual Servers
» Infrastructure analytics that offer insight into the performance and usage of the on-demand application
» Utility based pricing, a pricing model that allows businesses to scale up and out as need while being able to accurately forecast costs
About Pendo Systems
Pendo Systems has launched a comprehensive back office investment accounting system for insurance companies, banks, mutual funds and other large financial services organizations. Running on Microsoft solutions framework, including Windows 2003 Server and Microsoft SQL Server 2005 systems, it is several generations ahead of the aging legacy accounting systems now in widespread use. Firms can resolve the problems of old and inflexible systems and avoid the frequent work-arounds while reducing total cost of ownership with this new system based on a modern technology platform. As firms increasingly spread their investments around the globe, Pendo Systems can support them with BasisPoint which is multi-national, multi-currency and multi-client.
Pendo Systems, Inc. 245 Park Avenue, New York New York 10167 866 650 9816 Email: info@pendosytems.com http://www.pendosystems.com
About Tier 3
Tier 3™ delivers Infrastructure as a Service for companies, with hundreds of applications, millions of users and millions of transactions supported daily. Tier 3’s IaaS, the best platform for dedicated, managed hosting, is defining how managed services should be offered. By choosing Tier 3 as their Web application delivery partner, companies are freed from investing in and managing the complex and costly infrastructure and services necessary to deliver applications over the Web. They can instead focus their resources on developing, marketing and selling their applications and services. Tier 3 On-Demand is suitable for companies at any stage of growth, with any type of on-demand application. Tier 3 offers a unique pricing model, a unit-based pricing model that allows businesses to begin with a modest minimum commitment and scale expenses as revenues increase.
Headquartered in Seattle, WA, Tier 3 has datacenters in Seattle and Utah. For more information about Tier 3, visit www.Tier 3.com or email sales@tier3.com