Sage Software announced Dec. 4 that it has obtained property from VerticalFalls Software, which will allow Sage Software to provide the financial software services industry with its compliance and document tracking solution, ACT industry solutions strategy.
VerticalFalls, the Reston, Va.-based developer of financial services compliance and document tracking technology, will resell the integrated solution and offer implementation services, data migrations, training, support and business consulting to its users.
Joe Bergera, ACT senior vice president and general manager of Sage Software, told eWEEK that the acquisition of VerticalFalls technology will “allow Sage Software to better address the specific needs of financial advisers and the firms they work for by providing a standardized, integrated contact management and compliance/tracking solution, which will be developed and introduced in the next six to 12 months.”
ACT industry solutions strategy integrates features of ACT with value-added, industry-specific functionality.
This software was designed for scalability, administration/management-use, flexible deployment, seamless online/offline user experience and for users who are looking to customize their financial data.
Bergera also told eWEEK that their goal is “to expand the value we provide to the financial services market by providing a highly relevant feature set for financial advisors.”
Designed specifically for financial services professionals, ACT also features the following:
- The ability to manage and grow a business users client base using prospecting and marketing features
- Enables businesses to concentrate on key prospects and client data for immediate access and quality levels of service
- Allows users to secure important financial details for each contact using industry specific layouts and fields
- Aims to let business users be productive by taking critical contact, appointment and to-do information on the go
Bergera pointed out that the main benefit of this acquisition for business users is that it will “allow Sage to address financial advisers pain points including the need for a single, central repository for client information, scheduling and interaction to track and proactively manage relationships accessible by an entire team or those given access permission.”
Bergera estimates the addressable market for an integrated ACT financial services solution to be close to several hundred thousand users.
“Financial service organizations are experiencing regulatory pressure to implement standard reporting processes that necessitate retaining the history of customer interactions and records of customer risk tolerance, among other key criteria,” Bergera said.