Cutera, Inc. Selects Clearwater Analytics02-Sep-2010
BOISE, ID – September 2, 2010 - Clearwater Analytics today announced that Cutera, Inc. (NASDAQ ‘CUTR'), established in the San Francisco Bay Area in 1998 to develop, manufacture, market and sell laser and light-based medical devices, selected Clearwater Analytics to provide daily reporting and analytics for its investment portfolio.
Cutera will take advantage of Clearwater's ability to aggregate and reconcile information daily from multiple data sources and generate the tax lot level foundation for the Operating Fund Analytics solution which provides daily web-based accounting, compliance, performance and risk reporting and analytics. Among the many benefits offered by Clearwater, Cutera particularly values the daily compliance monitoring and automated notification of any violations, performance benchmark comparisons for its period-end reports that provide consolidated reporting of multiple portfolios of investments.
"In the current environment, organizations simply can't rely on the spreadsheets and manual processes they've used for years,” said Clearwater Analytics CEO Courtlandt Gates. "Investors have a responsibility to understand and address the exposures in their investment portfolios. Investors that rely on spreadsheets lack the actionable information they need to respond to market events that can significantly impact portfolio performance. Clearwater's timely and transparent reporting and analytics, with integrated accounting, compliance, performance and risk modules, will provide Cutera with the portfolio transparency they need without spending significant internal resources."
Clearwater's Operating Fund Analytics offers the following core platform functionality:
- Aggregation and reconciliation of information from multiple data sources
- Daily accounting, compliance, performance and risk reporting and analytics
- Flexible fiscal calendars
- Daily compliance monitoring and automated notification of violations
- Increased operational efficiency
- Automated general ledger uploads
Operating Fund investor clients also benefit from value added functionality:
- Cash flow forecasting
- FAS 115-1 Impairment capability
- Comprehensive coverage and accurate accounting treatment for all money market securities