Confluence has been appointed by Lombard Odier Funds to provide its automated budgeting application for asset managers.

Lombard Odier will be using Confluence’s unity NXT budgeting and unity NXT invoice payments expense management solutions in the management of their Luxembourg Ucits and alternative investment fund expenses.

“We view automation as key to gaining greater transparency, efficiency and control over expense management processes,” said Mark Edmonds, managing director of Lombard Odier Funds.

The budgeting software automatically collects net assets, foreign exchange rates and bulk invoice payment activity and allocates payment activity to appropriate instruments. Unity NXT invoice payments automates invoice tracking.

“We are very pleased to be providing LOIM with solutions to help them improve control and efficiency of monitoring budgets and creating, reviewing and approving invoices,” said Hugh Byrne, managing director, Emea business development at Confluence.