Firm58 Reviews & Product Details


What is Firm58?

Firm58 is a financial management software platform that automates capital markets firms' middle- and back-office processes across asset classes to provide insight into commissions, fees and compliance. The SaaS platform offers solutions for billing (revenue management), profitability analysis (exchange fee management), commission sharing arrangements/soft dollar management, and surveillance & compliance. As trades are divided across multiple execution venues, it becomes difficult to effectively manage fees, commissions and compliance. From billing or revenue management to regulatory compliance, the Firm58 platform gives businesses the reporting and analytics capabilities needed to identify valuable cost insights and quickly respond to changing market conditions. Clients include global market exchanges and execution venues, leading institutional brokerages, clearing and non-clearing broker-dealers and proprietary trading firms. The platform frees companies from the cost and maintenance of on-site infrastructure, with convenient access via your browser.

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Firm58 Profile Details

Firm58 Profile Details

Related Links
Q&A
Languages Supported
English
Vendor
Ignite Technologies
Company Website
Year Founded
2000
HQ Location
Austin, TX
LinkedIn® Page
www.linkedin.com
Employees on LinkedIn®
118
Twitter
@InferInc
Twitter Followers
7,079
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Companies Using Firm58

Box
CBOE Holdings
North Bridge Venture Partners
Euronext
Hamiltonex
Tradepulse

Firm58 Reviews

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1-6 of 6 total Firm58 reviews

Firm58 Reviews

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1-6 of 6 total Firm58 reviews
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UF
Enterprise
(5001-10,000 employees)
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"More than a Billing System, plus Excellent Customer Service"

What do you like best?

This is so much more than a Billing System. As a product manager, I use this to system to get a complete view on the business. It completely aggregates all my volume information, cost information, and revenue detail in an easily, viewable format.

What do you dislike?

Firm58 nomenclature can take a little bit to get used to, but once I understood it, I understood it. However, I don't know how they would do it differently because there needs to be uniformity for them to manage and troubleshoot problems. This is a very small dislike.

Recommendations to others considering the product:

I strongly recommend this to anyone and everyone. This is the easiest way to view and manage your business.

What problems are you solving with the product? What benefits have you realized?

I use Firm58 for everything. I can easily pull billing information on my clients, margin detail to see profitability, client strategy usage, costs of various products etc. etc. etc. I use this system for all management reporting and to provide and engage clients with aggregated details of their business.

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UF
Mid-Market
(201-500 employees)
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"Good results - customer service has improved"

What do you like best?

When the system is working well it works seamlessly and is a relative pleasure to use.

Firm 58 serves our purposes here in terms of the segregating and collecting of accounting and trading data.

What do you dislike?

When the system does not work it can tend to be a problem that takes a while to resolve.

We usually have no to little visibility on what the problem is and how long it will take to resolve.

Currently, there is no differentiation between equities and fixed income in the security description - that needs to be resolved.

Recommendations to others considering the product:

Make the system more user friendly. Increase the sharing of information when there is a problem and give greater visibility on what is causing the problems and a strong timeline of how long it will take to resolve issues. Separate the classifications of equities and fixed income products. Currently, the way it works on our end, the 2 are interchangeable and that makes no sense. It should be one or the other.

What problems are you solving with the product? What benefits have you realized?

Trading data / information is collected. Revenue (commissions and P&L) is calculated and segregated into the various silos that we can access.

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AF
Small-Business
(11-50 employees)
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"Good product for a niche space and great customer service"

What do you like best?

Firm58's customer service is excellent. The user interface is clean and fairly intuitive with plenty of functionality.

What do you dislike?

As with any product tailored to meet the needs of a larger customer base, there are always touch points where any user/administrator would like to see some minor changes, but overall, the product is a good one.

What problems are you solving with the product? What benefits have you realized?

Firm58 allows our clients the ability to login and see their account balances with transparency into all transactions that have accumulated the balance. This has taken the workload off our staff in having to field the individual balance or transaction detail requests.

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UF
Mid-Market
(51-200 employees)
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"Firm58 site is a great portal to use to gain access to daily and monthly files."

What do you like best?

The site is very easy to navigate around and constant customer support is available with prompt responses.

What do you dislike?

The site can be a bit slow depending on how large the files are.

What problems are you solving with the product? What benefits have you realized?

Trying to relay the better information to our customers in a clear and concise manner. Firm58 is always willing to help improve our processes trying to make it easier on us during peak times of processing.

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AC
Small-Business
(11-50 employees)
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"This product handles all our billing needs"

What do you like best?

Firm58 has been successful in it's attempts to provide billing service. All our needs and adjustments are met and completed by them with little work done on our end.

What do you dislike?

Response times vary depending on the severity of the issue. I do believe that some parts of the user interface could use some cleaning up and simplifying.

What problems are you solving with the product? What benefits have you realized?

Adjustments in our billing structure are properly billed.

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UF
Mid-Market
(201-500 employees)
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"VP Operations - JMP Securities"

What do you like best?

Daily automated reports being sent to group email

What do you dislike?

Firm58 offers little/ incorrect differentiation between equity and fixed income products and are often incorrect

What problems are you solving with the product? What benefits have you realized?

Solely PnL Reporting

Firm58 User Ratings

6.7
Ease of Use
Average: 8.3*
8.3
Quality of Support
Average: 8.7*
6.7
Ease of Setup
Average: 8.2*
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