Confluence Technologies Inc (Confluence) has secured a five-year contract with a French diversified asset manager. It will now utilise Confluence’s cloud-based Revolution platform for its performance measurements and attribution needs. The new client currently manages more than EUR 70 billion in assets.

Revolution, aims to provide analysis of portfolio performance, attribution, risk and compliance for clients. It looks to reduce costs, improve client communication and control investment decisions.

The asset manager will use the Revolution platform to assess internal performance metrics and to report externally to clients and the public via regulatory filings. The new client recognized the complexity of aggregating and managing the necessary data, and the importance of cleaning and controlling data before calculating performance. Consequently, they selected Revolution as it embeds a data control engine in its platform. The asset manager also plans to employ Revolution to help meet coming regulatory requirements and investor demands related to socially responsible investing (SRI).

Todd Moyer, Confluence’s president and chief operating officer said: “Asset managers today are acutely aware of risk, performance and regulatory pressures in a way they never have been before,” said. “With the industry’s increased focus on SRI as well, the power of our ground-breaking Revolution platform has become clear across regions and asset classes, and we’re looking forward to providing our best-of-breed solutions to this valued new client and contributing to their overall success, and to the success of their own investor customers.”