Princeton Financial Systems, the New Jersey-based financial software firm, is launching a new version of its reporting package, DVS Publisher Suite. The update automates reporting for investment committee reports as well as monthly, semi-annual and annual reports.

The reason investment managers find reporting complex is threefold, the firm said: reports have to be designed individually, generated regularly – usually daily – and they need to fulfil quality and transparency requirements as they act as the interface with customers.

Done manually, producing such documents is time consuming as information has to be collected from different sources, quality assured, collated, edited and distributed to the recipients. Using the DVS Publisher Suite 2.0, reports can be produced at a certain time, when an event occurs or based on specific data. They can be also be distributed automatically and stored in a central repository.

Another benefit cited by Princeton is that all automated processes are traceable at any time with the system’s detailed logging. Additionally, the reporting package enables users to save the underlying report information as a “snapshot” which allows the report to be manually edited.

Princeton’s services are used by over 430 investment managers, custodians, insurance companies, pension funds, hedge funds, and banks, which manage combined total assets of over $5 trillion in more than 40 countries.

The company has offices located throughout the United States, Canada, Australia, and Singapore as well as in the UK, the Netherlands, Luxembourg, France, Germany, and Switzerland.