Clearwater Analytics Automates Snowflake’s Investment Portfolio Operations

Following its U.S. IPO, the Data Cloud company manages influx of cash and operational complexity using Clearwater’s automated solution

BOISE, Idaho--(BUSINESS WIRE)--Clearwater Analytics, a global SaaS solutions provider, announced today that Snowflake, the Data Cloud company, has implemented Clearwater’s investment data management, reconciliation, and reporting solution to facilitate daily operations for its growing investment portfolio.

“We were a private company with a couple investment managers and we knew that post-IPO, our approach would need to be much more sophisticated,” Snowflake Senior Treasury Manager David Steffa said. “With Clearwater at the center of our investment operations process, we now easily monitor the outcomes of our four asset managers with the same small Treasury team. We’ve grown extraordinarily fast and Clearwater has been instrumental in our ability to do so.”

Snowflake selected Clearwater in April 2020, ahead of its September IPO. As part of its standard implementation, Clearwater established automated data connections to Snowflake’s custody banks and investment managers. This investment data is consolidated daily and reconciled for accuracy via the solution’s security master data and other third-party indices. This daily reconciliation and validation facilitate a variety of reporting and analytics functions across Snowflake’s portfolio.

Clearwater is the leading SaaS solution for investment data aggregation, reconciliation, accounting, and reporting. Clearwater reports on more than $5 trillion in investments daily for institutional investors around the world.

“We’ve helped many companies on the road to IPO and we’re glad Snowflake chose the right time to bring us on board,” said Clearwater Chief Operating Officer Scott Erickson. “It’s at this time in a company’s journey from private to public that a given investment portfolio, such as Snowflake’s, becomes far more complex than it once was. In this way, our partnership with them is exemplary as we engaged early to get the essential automation in place.”

About Clearwater Analytics

Clearwater Analytics is a global SaaS solution for automated investment data aggregation, reconciliation, accounting, and reporting. Clearwater helps thousands of organizations make the most of their investment portfolio data with a world-class product and client-centric servicing. Clearwater offers a full complement of middle- and back-office solutions like trade confirm/affirm, client billing, composite management, client statements, and more.

Each day, the Clearwater solution reports on more than $5 trillion in assets for clients that include American Family Insurance, Arch Capital, Aureum Re, Cisco, CopperPoint Mutual Company, C.V. Starr & Co., Facebook, J.P. Morgan, Knights of Columbus Insurance, Oracle, Selective Insurance, Sirius Group, Sompo International, Starbucks, Unum Group, WellCare Health Plans, Wilton Re., and many others.

Since its founding in 2004, Clearwater has provided a cloud-native solution that helps investors make the most of their data. Investment professionals in 49 countries trust Clearwater to deliver timely, validated investment data and in-depth reporting.

Additional information about Clearwater can be found at www.clearwater-analytics.com
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