The RECAST™ product is a web-based application that can be run as an add-on module to REVPORT™ or as a stand-alone application. Although REVPORT™ has the ability to post transactions directly to each clients internal accounting applications (such as G/L and A/R), RECAST™ will give clients additional flexibility to generate revenue and expense transactions and allocations through rules based processing.

At a high level, core functions of RECAST™ include the ability to:

• Consolidate data integration processes
• Provide an interface from REVPORT™ or other revenue transaction producing systems to the General Ledger Accounting and Accounts Receivable systems
• Create a standard rules based system for revenue transactions and allocations.

The overall vision for Bonaire is to assist clients in consolidating billing data with other data that is required to support Financial Reporting such as Revenue, Expense alignment and Profitability. Currently, consolidating and allocating revenue and expense transactions typically has been implemented through various disconnected systems and manual processes. Functionality typically is limited to the granularity of data mandated by legacy/accounting systems. RECAST™ will capture and process data before it is sent to accounting applications (including General Ledger and Accounts Receivable). RECAST™ will then allow a rules-based tool to generate initial postings and to split and allocate data.

RECAST™ will enable clients to internally allocate revenue entries across their various business entities based on a defined set of rules, algorithms and data conditions. A simple example is:

1. XYZ Asset Manager contracts with a client out of their NY office (NY booking entity)
2. Assets are actually managed by XYZ Asset Manager London - (London booking Entity)
3. When RECAST™ sees that the contracted entity is different than the managed entity; it processes a rule that automatically splits and records 95% of the revenue to the London entity and 5% to the NY entity (overhead allocation).
4. RECAST™ will manage the entire accounting chain and execute instructions based on a client defined set of rules (Sub-Accounting System)

RECAST™ imports data from source systems using a Universal Transaction Format (UTF) which provides a standard method of importing data from various client applications. In addition, RECAST™ allows for users to set up and support rules to generate revenue transactions and allocations. Rules are completely customizable to each client and are based on each clients hierarchy and custom attributes, such as product type, geographical location, line of business, etc. Through the use of custom mapping tables, clients can set up and maintain data specific to their organization and then use that data in rules based processing.

In place of the manually-intensive revenue accounting and posting processes normally used to support back end reporting, RECAST™ uses a completely redesigned rules based revenue accounting and posting process. Financial reporting can be accomplished either through RECAST™ directly via a data mart style reporting repository or through output from RECAST™ interfaces directly with a clients financial data warehouse or other reporting repository.

Overview of Features and Functions

RECAST™ key features and functions include the following:

• Integrates all revenue and expense related data in one location
• Provides a generic Universal Transaction Format (UTF) to import data from various source systems
• Provides a rules based revenue accounting and allocation process
• Allows users to set up and maintain an unlimited number of processing rules
• Allows users to set up and maintain internal data used in processing
• Utilizes data from a common repository to support data consistency across all Corporate Financial systems
• Allows for Multi-Currency Processing
• Provides output to an unlimited number of accounting applications, such as G/L and A/R.
• Provides control reports and sub- accounting processes to ensure seamless integration with accounting applications (G/L, A/R, etc.)
• Provides a data-mart style reporting repository

Expected Benefits

The following are the expected business benefits of the RECAST™ system:

1. Provides finer level of granularity for revenue and expense data
2. Enables posting of more aggregate revenue transactions to the GL
3. Creates a single application to maintain and run of revenue accounting rules
4. Reduces the amount of time for the Corporate Accounting group to research revenue accounting issues
5. Eliminates maintenance of allocation rules at the client account level by utilizing a rules based allocation solution
6. Resolves current data consistency issues across business units
7. Significantly reduces manual processing of revenue transactions during the close process
8. Increases accuracy with a full audit trail of all financial data extensions/modifications
9. Rules based data normalization greatly improves profitability reporting.