About

950
FUNDS DEPLOYED ON SYSTEM

thenumbers
don’tLIE

20%
OF TOP ADMINISTRATORS USING
100%
SATISIFIED CUSTOMERS
6
SECONDS TO CLOSE A PERIOD
3
WEEKS AVERAGE IMPLEMENTATION

2 OUT OF 3 OF THE WORLD’S LARGEST FUNDS ARE ON PENNY.

Back office fund accounting…

Investment fund accounting for partners and shareholders is definitely NOT something you want to do with a spreadsheet.

Our fund accounting software, Penny®, is tailored for the needs of hedge fund back offices, fund administrators, management companies, private equity partnerships, and wealth management.

As a specialized partnership and shareholder fund accounting solution, the Penny® system handles fees, G/L, A/P, and taxes – and manages the complexities of tranches, waterfalls, hurdles, layering, side-pockets, share equalization, clawbacks, feeders, commitments and withdrawals.

The award-winning system plugs seamlessly into your infrastructure, and has been carefully crafted for ease-of-use and painless implementation.

EZE Software GroupPenny® was created in 2006 by TKS Solutions, a registered Microsoft Partner. TKS Solutions was purchased by the Eze Software Group in November, 2015 to complete its front, middle, and back office financial technology suite.

…done RIGHT

490 billion AUM on the system
400 contributions per minute
48,000 periods processed
194,000,000 investor statements processed
123,000 investor confirmations prepared
¼ million hours of manual calculation avoided
242 years collective fund accounting experience
1.5 million lines of code
6 seconds to process a period
9,560 spreadsheets retired

WHAT OUR CLIENTS SAY

Gemini Fund Services“We look forward to working with the Penny It Works group, which provides highly sophisticated accounting software for financial companies, to deliver value-added solutions to our clients.”
Strata Fund Solutions“During our rigorous assessment process, we found that Penny – It Works® handled a wide variety of real-life scenarios. The system is easy to use and easy to initialize.”
Tiedemann Wealth Management“Penny® is great at what it does. We have surveyed the market and not found a better suite of products.”
Ramius“Penny intuitively automates key shareholder accounting tasks. It plays a key role in our overall infrastructure.”

PENNY . THE WISE CHOICE

Why Penny It Works? For us, fund accounting isn’t a sideline – it’s what we do. Penny has long been the most feature-rich, easiest-to-use, and flexible stand-alone back office fund accounting software available. With the recent purchase of our company by the Eze Software Group we will also be able to offer Penny as part of an integrated front, middle, and back office investment technology solution.

A TEAM WITH DEEP EXPERTISE IN FUND ACCOUNTING

  • Ron Kashden
    Ron KashdenFounder

    Ron leads the company’s technology operations. He has twenty years experience in financial services technology and accounting.

    Previously, he served as CFO of the Tiedemann Investment Group and headed software development at SAC Capital and HedgeWare. He holds a B.S. in accounting from Lehigh University.

  • Gene Barra
    Gene BarraDirector - Business Development

    Gene started in Price Waterhouse’s tax practice, and has over 25 years of experience working with hedge funds and alternative investments.

    He headed business development for HedgeWare / SS&C, and worked with VPM and Morgan Stanley Fund Services. Gene holds a BBA in Accounting and a BA in English from the University of Notre Dame.

  • Sue Walsh
    Sue WalshDirector - Client Services

    Sue is a CPA with over 20 years of experience in hedge funds, private equity and partnership taxation. She previously managed accounting services at HedgeWare.

    An expert in the nuances of partner and shareholder investment funds, Sue has a BS in Business Management, Marketing and Accounting from Cornell University.

  • Chris Wallin
    Chris WallinDirector - Development

    Chris has 15 years of experience in financial accounting technology, system design and technology management.

    He managed development at SS&C Technologies and led development at Morgan Stanley Fund Services. Chris has a BS in Computer Science from Manhattan College and an MBA from NYU’s Stern School of Business.

  • Mike Murphy
    Mike MurphyDirector - Product Management

    Mike has 20 years of experience in financial services, with a focus on fund operations in the alternative space.

    Previously, Mike was a key man on a number of engagements for Beacon Consulting Group, a leading financial services consulting firm. He holds a BA in Economics from St. Michael’s College and an MBA from Boston College.

  • TKS Office
    TKS OfficeMt. Kisco HQ
  • Amy Esposito
    Amy EspositoHead of Quality Assurance
  • Stephanie Lyons
    Stephanie LyonsClient relations
  • Hard at work
    Hard at work
  • Heather Kupp
    Heather Kuppimplementation
  • Conference Room
    Conference Room
  • This is a puffin
    This is a puffin
  • Desk Toys
    Desk ToysBecause all work and no play...

HOW IT STARTED

THE PENNY ORIGIN STORY