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Anchin, Block, Anchin LLP Adopts Penny Software from TKS Solutions for Intricate Investment Partnership Accounting.

MT. KISCO, N.Y. -- TKS Solutions LLC, a provider of partnership and shareholder accounting solutions for the financial industry, today announced that Anchin, Block, Anchin LLP is utilizing Penny, TKS' flagship software, as its central partnership accounting system. TKS Solutions helps Anchin maintain flexibility and better manage the complexities of investment partnership accounting.

Anchin, one of the industry's most widely recognized and ranked accounting firms with 52 partners, and over 400 professionals, has a storied commitment to the financial services industry. Penny helps Anchin tailor their client service based on the industry, not the software program, letting them easily modify and adjust the variety of terms and provisions found in investment partnerships.

"With the ability to modify and adjust rules as you go, Penny is the most flexible investment partnership accounting tool in the industry," said Gerry Ranzal, partner-in-charge of Anchin's Financial Services Group. "Our adoption of Penny gives us next-generation capabilities and allows us to continue building on our thorough financial services offerings and improve reporting for our clients."

Penny provides firms, such as Anchin, with many features to track investors' capital, down to individual contribution lots. Penny helps eliminate tasks that were previously time consuming and laborious, such as allocating realized and unrealized gains and losses, dealing with side-pockets, handling multiple fee arrangements and more.

In today's environment, financial services firms must demonstrate experience, efficiency, and expertise, as well as continued growth. Penny improves the accuracy of internal reporting functions by providing an overall checks-and-balances system. It helps automate key processes while remaining flexible and providing greater insight and thorough reporting, which lends itself to greater transparency to investors.

"Anchin's use of Penny demonstrates our commitment to providing cutting edge technology to a variety of financial services firms," said Ron Kashden, president of TKS Solutions. "Penny's unique offerings allow companies to maximize benefits for their clients, which in the current climate, is crucial."

About Anchin, Block & Anchin LLP

Anchin, Block & Anchin LLP is recognized as one of the "best of the best" accounting firms in the country (Inside Public Accounting). The full-service firm, with a staff of more than 400, serves privately-held businesses and high net worth individuals with a wide range of traditional and non-traditional advisory services, including financial statement preparation; tax planning and compliance services; economic development and tax incentives; management and succession advisory services; litigation support, forensic accounting and valuation services; merger and acquisition services; and wealth management. For more information, please visit: www.anchin.com.

About TKS Solutions

TKS Solutions offers unified partnership and shareholder accounting solutions for the financial industry. Its flagship software Penny[R] helps firm better manage their investment partnerships and funds by providing automated and instant access to detailed investor data. Penny's open architecture and proven features easily integrate with portfolio accounting and customer relationship management systems, data warehouses and in-house proprietary solutions, creating a comprehensive and unified view of all investor data, as well as greater transparency for investors. TKS Solutions works with partners worldwide to serve its customer base of leading hedge funds, fund of funds, private equity firms, administrators and management companies, ranging from $50 million up to $20 billion under management. For more information, please visit: www.PennyItWorks.com.
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Publication:Business Wire
Date:Dec 8, 2008
Words:533
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