Advent have boasted 17% in revenue growth in the third quarter of 2011, numbers especially premised upon – amongst others – their software as a service (SaaS) platform Advent OnDemand and their Advent Black Diamond cloud-based infrastructure operating in the US. Advent, which rose to prominence as a software and services automation specialist for investment management organizations, grew in an unprecedented $85 million in revenue in 2011’s third quarter, stressing the efficacy of enhanced automation and data integration services throughout their product suites.

Advent OnDemand, which targets the asset management industry, gained inaugural clients in Europe, the Middle East and Africa, thereby contributing heftily towards the company’s total deferred revenue increase of 2% from $159.3 million (as of 30 June 2010) to $162.3 million (as of 30 September 2011). Advent Software has also secured a number of strategic alliances with organizations distributing their products to customers using their hosted platform. OnDemand, one of Advent’s outsourcing initiatives, was designed to enhance data management, including corporate action processing, portfolio reconciliation, account aggregation and reference data management.

Advent have also made a variety of additions to their product range during this third quarter, integrating their technologies with mobile phone applications using their Tamale Research Management Software, as well as commandeering Microsoft’s Reporting Services for their Advent Portfolio Exchange reports. They also incorporated a transaction mining application and launched report packaging software using Advent Black Diamond. This seems to have paid off: Advent’s Software net-income from continuing operations rose by 14% whilst their operating income from ongoing processes was down to 13% of revenue from 14% in 2010.

In terms of ACV (Annual Contract Value), once outstanding contracts have been completed, Advent Software anticipates accumulating $8.5 million in annual earnings. They’re also sporting a 15% increase in their diluted earnings per share from ongoing operations. In terms of operating cash flow, that’s an increase of 10%. To add to their own congratulations, Advent reacquired 1.86 million of their own shares in the third quarter.

As an indication of their customer base, Advent’s Software flagship products include offerings like Geneva, a portfolio management solution based on the real-time requirements of hedge funds, global asset managers, prime brokers, private equity corporations, family organizations and fund administrators internationally. Advent has clients in sixty countries around the globe who deal with assets estimated at $14 trillion. That said, about 85% of its sales come from inside in the United States.