Company: CWAN
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001628280-25-008169
Chunk: 33

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1
Chunk 33
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 management offerings, as well as expansion in Europe, the Middle East and Asia.

Competition

The market for solutions serving the full investment lifecycle, including investment accounting, and analytics is competitive and highly fragmented. The market is served by large-scale players with broad offerings as well as vendors with only point solutions that target local markets or specific client types, business functions or asset classes. We also face competition from systems developed and serviced internally by our potential clients’ information technology (“IT”) departments. We believe that there are currently no competitors who offer a cloud-native platform like ours. We further believe that our solution is more comprehensive than our competitors’ in terms of asset class coverage and functionality. Our competitors primarily utilize legacy, on-premises systems and often employ large operational teams. While some of our competitors may take components or versions of their offerings into the cloud, their core platforms remain underpinned by legacy technologies, making it virtually impossible to ensure consistency, timeliness and auditability.

In each of our core client end-markets, we compete with a variety of firms depending on client size, type, location, computing environment and functional requirements. Our principal competitors include large providers of investment 

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operations, accounting and analytics systems such as SS&C (with its Advent, CAMRA, Maximus, and Singularity products), State Street (with its PAM and outsourced service offerings), SAP, BNY Mellon’s Eagle product, Deutsche Börse’s Simcorp Dimension, BlackRock’s Aladdin, FIS’s iWorks and Northern Trust. We occasionally see smaller providers of specialized applications and services. We also compete with outsourcers, as well as the internal processing and IT departments of our prospective clients.

We believe the principal factors that drive competition in our market include:

•New SaaS technology;

•Comprehensive accounting and reporting of global assets on a daily basis;

•Ability to provide a “Golden Copy” / single source of data truth in order to ensure data consistency across all business applications;

•Breadth and quality of solutions;

•Technology differentiation, including single instance, multi-tenant architecture;

•Automated data aggregation and reconciliation capabilities;

•Flexible and integrated reporting;

•Daily and on-demand visibility into investment performance;

•Quality of client service;

•Reputation with other leading financial institutions and clients;

•Frequent and complete regulatory updates;

•Simplified IT infrastructure and operating costs;

•Scalability, including handling large changes in assets (e.g., M&A);

•Ease of use and quality