EAGAN, MN. May 8, 2017 - Panoramix™ an innovative advisor technology platform, announced today the results of its first full year in business, showing growing momentum on its Panoramix performance reporting and billing system.

After its first full year in business, Panoramix now supports over 200 Registered Investment Advisory (RIAs) firms. Additionally, Panoramix also released the results of its latest industry research, showing that RIA firms can lower their performance reporting costs by 80%.

Through its innovative Sapphire Data Engine, designed with the smaller RIA in mind, Panoramix is rapidly disrupting traditional performance reporting technology platforms by harnessing powerful automation tools, streamlined custodian interfaces and data efficiencies to be able to provide a high-quality reporting system at a much lower cost.

“As custom software developers, our experience in designing automation tools is at the heart of our Sapphire Data Engine,” said Chris Hastings, CEO of Panoramix. “As a result, we are able to pass along the cost savings we are generating to advisors to provide them with a superior solution at a dramatically lower cost.”

According to the Panoramix report, the numerous steps, calculations and data management processes involved in performance reporting has led to the development of overly complex and expensive technology platforms. Advisors using these legacy systems, designed to support a multitude of banks and custodians, can end up paying hundreds of thousands of dollars on an annual basis, while the typical advisor only needs a fraction of these data feeds. With Panoramix and its Sapphire Data Engine, those costs can be lowered in a large way:

“Through new advanced technology and an innovative approach to data management, new performance reporting technology is available that will disrupt existing approaches…Designed with a single purpose, the underlying core data engine smartly and efficiently handles the nuances of the custodians’ data through innovative algorithms and automated workflows.”

“We are very excited with the industry’s response to Panoramix and will continue to invest in the platform to bring even more capabilities to advisors to help them better manage their businesses and enjoy cost savings in a more complex and competitive industry environment,” Hastings said.

Download the report: “Why Does Performance Reporting Cost So Much?”