Government of the District of Columbia Selects Clearwater for Streamlined Investment Accounting and Reporting

BOISE, Idaho--(BUSINESS WIRE)--Clearwater Analytics, a global SaaS solutions provider, announced today that the Office of the Chief Financial Officer (OCFO) of the Government of the District of Columbia (the District) has selected Clearwater’s investment data aggregation and reporting solution.

The OCFO’s investment policy is to ensure the safety, liquidity, and incremental return on investment of its financial assets. By implementing Clearwater’s technology at the core of its daily investment operations, the OCFO can continue to meet those goals, while improving overall transparency and efficiency in its cash management and investment oversight.

Clearwater provides the OCFO with consolidated portfolio operations. The web-based system delivers automation at key locations on the data pipeline including custody and other third-party sources which are pulled and reconciled daily, feeding sophisticated tools for reporting and analytics. The result is operational efficiency and accuracy, and a source of crucial portfolio information to support decision making and compliance reporting.

“Clearwater gives us greater accessibility across service areas. As an aggregator of banking and investment data, Clearwater provides financial analysis for the District’s custody relationships, investment managers, and other technology vendors,” said Grace Lee, Financial Investment Manager at the Office of the Chief Financial Officer. “We have initiated a new treasury management system and taken advantage of other services and offerings that were simply too complex to consider in the past.”

Clearwater helps hundreds of institutional investors achieve greater accuracy, transparency, and efficiency in their daily investment operations. The Clearwater solution reports on more than $5.5 trillion in assets daily.

“The OCFO’s adoption of innovative technologies like Clearwater makes them a leader among US state and local governments,” said Scott Erickson, Chief Operating Officer at Clearwater. “They are ahead of the curve in grasping and applying the fundamental benefits of automation and managed services for important tasks like reconciliation. We are so excited to work with their team.”

About Clearwater Analytics

Clearwater Analytics is a global industry leading SaaS solution for automated investment data aggregation, reconciliation, accounting, and reporting. Each day, the Clearwater solution reports on more than $5.5 trillion in assets for clients that include leading insurers, asset managers, corporations, pension plans, governments, and nonprofit organizations – helping them make the most of their investment portfolio data with a world-class product and client-centric servicing. Investment professionals in 50 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, LinkedIn, and Twitter.