Confluence has opened an office in Ireland as part of plans to expand in Europe.

The firm aims to take advantage of data management automation in the investment industry.

Confluence already has a presence in London and Luxembourg.

"The global fund industry’s appetite for data consolidation and automation solutions is increasing,” said Skip Smith, chief operating officer. “The Dublin office is part of our strategic plan to meet the rising needs of back office professionals. Our goal is to support asset managers and service providers as they look to solve the complex data management challenges associated with regulatory issues, and other cross-border reporting challenges."

The firm said that in spite of tougher regulation, many fund managers continue to depend on manual spreadsheets to track investments.

Meanwhile the firm has hired Sal Pent as managing director of support services. He will oversee the company's global customer service and product support operations as Confluence continues to expand its global footprint.

Pent has more than 20 years of financial services and technology experience, including executive roles with JPMorgan in the US and UK in treasury and securities services, electronic fund services, and treasury services management.